Slowing Inflation Primes G-7 Central Banks for June
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.
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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.
Emerging-market currencies dipped Friday on dwindling optimism over Federal Reserve rate cuts, paring their fourth-straight week of gains.
The owner of a historic office building in Manhattan’s Financial District has filed bankruptcy to sell the property, which has been subject to foreclosure and suffered from a lack of tenants due to the Covid-19 pandemic.
Jul 2, 2021
Bloomberg News
,(Bloomberg) -- DWS Group has agreed to sell a City of London office building after a protracted sales process that was initially thwarted by the pandemic.
The German asset manager majority-owned by Deutsche Bank AG has agreed terms to sell Capital House at 85 King William Street to a fund managed by Barings, according to people with knowledge of the arrangement. Barings will pay about 130 million pounds ($179 million) up front, with further top-up payments due once vacant space in the building is leased, said the people, who asked not to be identified as the talks are private.
Representatives for DWS and Barings declined to comment.
It caps a stop-start process that started last October as confidence began returning to the City’s real estate market, only to be squashed by the spread of coronavirus. DWS halted talks earlier this year as bids from investors nervous about the future of office buildings fell short of its expectations, Bloomberg news reported in February.
London’s real estate owners are preparing a series of trophy office buildings for sale in anticipation that the remaining restrictions designed to limit the spread of the virus will be lifted this month. Properties including the London headquarters of UBS Group AG are among those expected to be sold in the second half of this year as more international investors are able to visit the city to inspect potential properties.
Hoi Hup Realty Pte has appointed brokers to sell 1 Golden Lane, another office building recently vacated by UBS, according to people with knowledge of that sale. Hoi Hup did not respond to requests for comment.
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