June 27, 2023
United States:
US Home Prices Recover Further as Buyers Battle for Tight Supply of Listings
Home prices in the US rose for a third straight month, pushed up by growing buyer demand for a tight supply of listings.
A national gauge of prices increased 0.5% in April from March, according to seasonally adjusted data from S&P CoreLogic Case-Shiller.
Europe:
Russia’s Exports of Fuels Are Starting to Fire Up Again as Refineries Complete Maintenance
Russia’s exports of refined fuels continued to increase in the past week, suggesting a ramp up in crude-processing rates is filtering through into heightened shipments to overseas buyers.
Traders and analysts are scrutinizing every scrap of data to understand the extent to which Russia is sticking to a pledge to cut its output by 500,000 barrels a day. That has become harder to do because Moscow has made production data a state secret following the war in Ukraine.
Asia:
China Premier Warns Economic Barriers Will Lead to Confrontation
China’s Premier Li Qiang warned governments that attempt to politicize their economies will only fragment the world as the US and Europe “de-risk” supply chains from the Asian nation.
“The invisible barriers put up by some people in recent years are becoming widespread and pushing the world into fragmentation and even confrontation,” China’s No. 2 official said Tuesday at the World Economic Forum’s Annual Meeting of the New Champions in Tianjin, a coastal city close to Beijing in northern China.
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