Overseas Headlines – March 8, 2023

March 8, 2023


United States:

US Mortgage Rates Increase for a Fourth-Straight Week

US mortgage rates increased for a fourth week to the highest level since mid-November, according to the Mortgage Bankers Association.

The contract rate on a 30-year fixed mortgage rose 8 basis points to 6.79%, the group said Wednesday. The group’s index of mortgage applications to buy a home, however, increased. The data can be volatile around holidays, and the week followed Presidents’ Day.




Investors Bet on Europe’s Inflation Matching US in Echo of Financial Crisis

For the first time since the global financial crisis, investors are betting long-term inflation in the euro area will match that of the US, underscoring the dramatic shift in the outlook for Europe recently.

A proxy for inflation expectations in the euro area in the second half of the next decade — the so-called five-year, five-year forward inflation swap rate — is at roughly 2.5%, catching up with the US on wagers of prolonged price pressures. That’s a monumental reversal for the region where central bankers, conversely, turned to negative rates and bond-buying to fan the economy and below-target inflation for most of the past decade.




Hold the Mayo as Japan Egg Shortage Hits McDonald’s to 7-Eleven

McDonald’s, 7-Eleven and mayonnaise-maker Kewpie are just some of the firms in Japan contending with the worst-ever global outbreak of bird flu.

Of 100 listed restaurant companies in Japan, 18 had suspended egg-related items as of March 5, according to Teikoku Databank. Fewer hens led to a near-doubling in the wholesale price of the farm staple to 327 yen ($2.37) a kilogram in February from the year before, the research firm said on Tuesday.




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.