June 25, 2024
United States:
US Home-Price Growth Cools as Buyers Contend With High Rates
Home-price gains in the US slowed in April as would-be buyers facing higher mortgage rates pulled back from the market.
A national measure of prices rose 6.3% from a year earlier, less than the 6.5% gain in March, according to data from S&P CoreLogic Case-Shiller.
Europe:
European IPOs Cling to Gains as Listing Revival Starts to Falter
European companies that went public in the first half of this year have made a bright start, outpacing the broader equity market.
Yet, that’s not providing enough confidence for the pace of initial public offerings to continue for the rest of 2024, with political turmoil already contributing to a couple of high-profile deals getting pulled.
Asia:
India Central Bank Policymakers Divided Over Rate-Growth Debate
A consensus appears to be emerging among the external members of the Reserve Bank of India’s monetary policy committee that high interest rates are damaging to economic growth, a sign that the debate over the timing of any easing is intensifying.
Jayanth Rama Varma and Ashima Goyal voted at the June meeting for a rate cut, arguing that too restrictive policy will hurt growth, recent minutes showed. Shashanka Bhide, the third external official on the six-member committee, voted against easing, but in an emailed response to questions, he acknowledged that inflation-adjusted rates above 1.5% “is not supportive of higher growth.” India’s real, or inflation-adjusted, rate is currently at 1.75%.
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