June 20, 2024
United States:
US Home Starts Plunge to Slowest Pace Since June 2020
New home construction in the US slumped in May to the slowest pace in four years, as higher-for-longer interest rates sap the housing industry’s momentum from earlier this year.
Housing starts decreased 5.5% to a 1.28 million annualized rate last month, according to government data released Thursday. The figure was below all but one estimate in a Bloomberg survey of economists.
Europe:
Europe’s IPO Revival Sputters as Buyout Firms Get Cold Feet
A rebound in Europe’s initial public offerings market is faltering as private equity firms are getting increasingly nervous about taking companies public.
Permira-backed Golden Goose Group SpA shelved its Milan IPO this week, while clothing retailer Tendam has also decided to postpone plans to list this summer in Madrid, according to people familiar with the matter. Tendam, backed by CVC Capital Partners Plc and PAI Partners, made the decision because of stock-market weakness, said the people, asking not to be identified discussing confidential information.
Asia:
China Should Focus Exports on Global South, Says PBOC Adviser
China’s government should back a shift of exports toward developing countries, so it can find markets with the capacity to digest its industrial output and ease tensions with other trade partners, said an adviser to the nation’s central bank.
“We have to pay attention to the way the international market responds” to China’s exports as its economic weight grows, said Huang Yiping, a member of the monetary policy committee of the People’s Bank of China. “We must come up with ways to reduce the conflicts,” he said in a speech in Shanghai on Thursday.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
