August 19, 2025
United States:
US Housing Starts Rise to Five-Month High, Led by Multifamily
Housing starts in the US climbed in July to five-month high, led by the strongest pace of multifamily construction in more than two years.
New residential construction increased 5.2% last month to an annualized rate of 1.43 million homes, according to government figures released Tuesday.
Europe:
Gilt Yields Hit Highest in Nearly Three Months Ahead of CPI
Gilt yields rose to their highest in almost three months ahead of UK inflation data that could cement the case against the Bank of England cutting interest rates again this year.
The two-year yield rose as much as 2 basis points to 3.98%, its highest level since June 9. Wednesday’s inflation print is forecast to show the headline rate accelerated to 3.7% in July, nearly double the BOE’s target.
Asia:
China Boosts Short-Term Cash Injection as Bond Selloff Extends
China’s central bank added a substantial amount of cash into the financial system on Tuesday, in a move that’s seen stabilizing bonds that have come under pressure from investors migrating into equities.
The People’s Bank of China added a net 465.7 billion yuan ($65 billion) of short-term cash via reverse repurchase agreements, the largest daily net injection since July 25 and also the third biggest this year.
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