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As a deeply divisive re-write of Chile’s constitution comes to an end, interest rates fall and economic growth returns it seems that Chile’s bond market is regaining its mojo. But there may be one final sting in the tail from the last three years of social, political and economic turbulence.
Solomon Partners, the financial advisory firm previously known as PJ Solomon, is relocating its headquarters to Manhattan’s 1251 Avenue of the Americas, the former Exxon Building, as the company expands in New York.
Macy’s Inc. received a $5.8 billion buyout offer from Arkhouse Management and Brigade Capital Management, a wager that the venerable retailer can execute its turnaround better as a private firm.
Ron DeSantis rattled corporate America by making Walt Disney Co. a target of his conservative culture wars. Now, the Florida governor’s campaign to rid the state of Chinese influence is fueling a forceful backlash from big-name investors.
Goldman Sachs ended a recommendation to short UK real estate stocks, saying the housing market is stabilizing and interest rates should start to come down from next summer.
Aug 19, 2021
, Bloomberg News
Canadians are piling into mortgages at more than double the historical pace as the housing market appears to moderate after a pandemic boom.
The total value of residential mortgages rose by 1.2 per cent to $1.73 trillion (US$1.4 trillion) in June, according to data released Thursday by Statistics Canada. That’s the fastest monthly increase in loans borrowed for real-estate purchases since 2007.
The spike in mortgages is evidence of Canadians’ demand for more living space during the COVID-19 pandemic, which sent sales and prices to record highs. Driven by lower interest rates, the total amount of real estate-related debt outstanding in the country has risen 9.2 per cent in the past year, the largest increase since 2008.
Still, the heightened level of borrowing activity is likely to slow alongside Canada’s cooling housing market, where sales volumes have fallen for the past four months. “There is normally a time lag between the sale of a home and the actual receipt of mortgage funds,” the statistics agency said in the release.
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