Banks Warn of Growing Energy-Related Risks in Mortgage Portfolios
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
Latest Videos
The information you requested is not available at this time, please check back again soon.
Across Europe, banks are trying to figure out how to handle a growing risk lurking in residential mortgage portfolios: energy consumption.
South Korea’s top financial watchdog attempted to revive optimism over the nation’s corporate reform initiatives to investors in New York while soothing concerns over the short-selling ban.
Inflation-related releases across the Group of Seven will prime central bankers for crucial June interest-rate decisions, just as they meet in Italy to discuss the state of the world economy.
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts.
A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Jun 3, 2022
Bloomberg News
,The head of one of Canada’s largest publicly traded developers said he sees the potential for acquisitions in the US housing market through a new apartment company that he took public in volatile markets.
Michael Cooper took Dream Residential Real Estate Investment Trust public in Toronto in early May, raising US$125 million amid a selloff in equities and weak demand for new issues. The shares have fallen 14 per cent since then, but Cooper said he was glad to complete the deal and the company can become a vehicle to buy US apartments as conditions improve.
“To really get growing, we need to get market acceptance,” Cooper said in an interview. “I think that getting it done in such a tough market was great. And as we see the market evolve, and people get more comfortable and we get the results out, we’d love to grow it. That’s why we went public -- to grow that portfolio.”
Dream Residential manages more than 3,400 units in US Midwest and Sun Belt states, focusing on markets where there are no rent controls. Cooper, who is president of Dream Unlimited Corp., is betting that strong demand for rentals and his ambitions of growing through acquisition will ultimately boost the apartment owner’s share price.
Dream Unlimited manages and develops properties around North America and is a major shareholder of Dream Residential, which it will help run. The offering was the first corporate IPO of more than $150 million to list on a Canadian exchange this year after 2021 marked a record for public debuts.
On his outlook for this year, Cooper said: “If I had to give a name to 2022, I would say, best case -- ugly win. I think the whole year is going to be ugly wins. It’s going to be hard to be elegant and do something so beautiful.”