Blackstone, KKR Mortgage REITs Stung By Office Debt Challenges
Blackstone Inc. and KKR & Co. mortgage real estate investment trusts are grappling with deteriorating office loans as higher interest rates and weak demand drive down property values.
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Blackstone Inc. and KKR & Co. mortgage real estate investment trusts are grappling with deteriorating office loans as higher interest rates and weak demand drive down property values.
Bank of Canada officials said monetary policy easing is expected to be “gradual,” as they debate the timing of a pivot to rate cuts.
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Jan 21, 2020
Bloomberg News
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South Korea’s economy expanded at a much faster pace than expected in the fourth quarter, supporting optimism that a recovery may be under way for the Asian bellwether of global demand.
Gross domestic product increased 1.2% from the previous quarter, the fastest pace since the third quarter of 2017, a Bank of Korea statement showed Wednesday. Economists had forecast a 0.7% expansion.
Key Insights
What Bloomberg’s Economist Says
“Looking ahead, we forecast GDP growth of 2.3% in 2020, reflecting a gradual recovery in exports and investment. On the policy front, an expansionary fiscal stance will likely take the lead in supporting the economy. Our baseline expectation is for the Bank of Korea to stand pat in the year ahead.”
--Justin Jimenez, Bloomberg Economics
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(Adds detail on growth drivers.)
To contact the reporter on this story: Sam Kim in Seoul at skim609@bloomberg.net
To contact the editors responsible for this story: Paul Jackson at pjackson53@bloomberg.net, Jiyeun Lee, Jason Clenfield
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