Treasury Rally Risks Running Into a $125 Billion Brick Wall
Bond traders welcomed their first clear sign of a cooling US labor market, but it’s only a part of what’s needed to fire up the truly sweeping rally they’ve been hoping for all year.
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Bond traders welcomed their first clear sign of a cooling US labor market, but it’s only a part of what’s needed to fire up the truly sweeping rally they’ve been hoping for all year.
Australia’s central bank will likely keep its key interest rate at a 12-year high and stick with it for much of the year to restrain inflationary pressures underpinned by a surprisingly tight job market.
It’s an oft-told anecdote littering social media: Those who invested early in cryptocurrencies have enjoyed life-changing wealth.
Australia’s housing rental value hit a fresh record in April with some cities seeing renewed growth momentum, a troubling sign for the Reserve Bank that’s likely to leave borrowing costs at a 12-year high this week to stave off price pressures.
Households making under $10,000 per year experience double the exposure to pollution compared to households making more than $150,000.
Feb 23, 2021
Bloomberg News
,Home prices in 20 U.S. cities surged in December, with low mortgage rates fueling the housing market.
The S&P CoreLogic Case-Shiller index of property values climbed 10.1 per cent from a year earlier, beating the median estimate of 9.9 per cent in a Bloomberg survey of economists. It followed a 9.2 per cent gain in November and was the biggest jump since 2014.
Phoenix, San Diego and Seattle posted the biggest gains in prices, according to a press release on Tuesday. Nationally, the Case-Shiller index jumped 10.4 per cent in December, also the biggest surge since 2014.
Historically low mortgage rates have fueled a pandemic housing rally, with a scant inventory of homes to buy helping to boost prices.
December was the fourth straight month that prices gained the most since 2014. The rally started in July and picked up steam in the final months of 2020, with Americans looking to take advantage of low borrowing costs to buy suburban homes.
“These data are consistent with the view that COVID has encouraged potential buyers to move from urban apartments to suburban homes,” said Craig Lazzara, global head of index investment strategy at S&P Dow Jones Indices.
Prices gained 14.4 per cent in Phoenix, leading all cities for the 19th straight. In the West, the overall gain was 10.8 per cent.
Data for Detroit were excluded because of pandemic-related reporting delays.