Recent data released by the Toronto Regional Real Estate Board (TRREB) indicates that the Greater Toronto area experienced a decline in home sales in July. This decrease comes after a surprising rise in June, breaking a four-month streak of declining home deals. Seasonally adjusted sales dropped by 1.7% in July, following a 3.2% increase in
Economy
The recent minutes from Brazil’s central bank policy meeting on July 30-31 revealed a strong willingness to take action in order to bring inflation down to its target. The central bank emphasized the need for increased vigilance as inflation expectations continue to rise, potentially leading to a de-anchoring of expectations. The policymakers expressed their readiness
The global markets are currently in a precarious state as investors are becoming increasingly worried about the possibility of stocks being overvalued. Despite a relatively solid earnings season, there is a prevailing sense of unease that seems to overshadow any positive news. Around half of the developed-market central banks have already started cutting interest rates,
The major share indices plunged in Asia on Monday, reflecting investors’ fears that the United States might be on the brink of a recession. The increasing risk aversion led to a rapid decline in markets, with investors betting that interest rates would need to be cut significantly and quickly to support economic growth. Nasdaq futures
In a recent development, Alphabet’s Google has entered into a non-exclusive licensing agreement with Character.AI, a startup specializing in chatbot technology. This agreement, similar to deals struck by other tech giants like Microsoft and Amazon, has raised concerns among regulators in both the U.S. and Europe. Character.AI’s co-founders, Noam Shazeer and Daniel De Freitas, will
The recent selloff in equity markets around the world has put a damper on investor sentiment. The S&P 500 is down nearly 6% from its peak in July, while the tech-heavy Nasdaq Composite has experienced a 10% correction. This plunge has not been limited to the U.S., as equities in Europe and Asia have also
The U.S. Commerce Department’s recent announcement to continue classifying Vietnam as a non-market economy country has left Hanoi disappointed. This decision comes at a time when the U.S. has been trying to strengthen ties with Vietnam as a way to counter China’s influence in the region. Vietnam had been hoping for an upgrade, which would
The weaker July nonfarm payrolls had many hitting the panic button on risk assets and calling for a Fed rescue with aggressive rate cuts in upcoming meetings. The reported increase of only 114,000 jobs missed economist expectations, and the unemployment rate unexpectedly ticked up to 4.3% from 4.1%. The household survey only registered 67,000 new
Richmond Federal Reserve President Thomas Barkin remains unfazed by the recent weaker-than-expected U.S. jobs data. In a recent TV interview with the Carolina Business Review, Barkin stood firm in his commitment to his current monetary policy outlook. Despite the unexpected dip in job growth for July, he made it clear that he is not one
The recent data on U.S. job growth in July has sparked concerns about the health of the labor market. With job growth slowing more than expected and the unemployment rate increasing to 4.3%, there are fears that the economy may be becoming vulnerable to a recession. Nonfarm payrolls increased by 114,000 jobs last month, falling
Investors around the world are bracing themselves for another tumultuous day in the stock market. A recent report on U.S. manufacturing has sent shockwaves through global markets, sparking concerns about the state of the economy and the Federal Reserve’s future actions. With risk assets taking a hit, many are left wondering what the future holds
The German Finance Ministry is currently grappling with a 17 billion euro budget shortfall, prompting discussions on how to address this financial gap. However, the advisory board to the ministry has raised concerns about the three proposed options, deeming them problematic. In a letter seen by Reuters, the advisory board highlighted their reservations about the