Overseas Headlines – May 13, 2021

United States:

Fed Lists Six Reasons in Arguing Inflation Surge Will Pass

“While much of Wall Street is ringing alarms about out-of-control inflation, Federal Reserve Chair Jerome Powell and his colleagues are expressing confidence in a more benign outlook. Acceleration in U.S. price growth this year will have “only transitory effects on underlying inflation,” Fed Vice Chair Richard Clarida said Wednesday.”



U.K. Estate Agents Plead for More Supply as Housing Boom Rages

“U.K. house prices marched higher again in April as rising demand and a dearth of properties for sale added fuel to a booming market. In a report published Thursday, the Royal Institution of Chartered Surveyors said a lack of new listings was now the biggest concern as demand for property increased in every region of the country. That’s stoking prices in a market already buoyed by a temporary tax cut and lockdown-inspired searches for extra space. Real-estate agents expect prices to keep rising over the next year.”



Japan’s Topix Three-Day Slump Hasn’t Prompted BOJ to Step In

“Japan’s Topix index just posted its biggest three-day loss since June last year. Yet the Bank of Japan, which has for over a decade helped to prop up the country’s stock market, seems unmoved, leaving investors a little baffled. When local shares were trading at multi-year highs earlier in 2021, the central bank scrapped an annual 6 trillion yen ($54.8 billion) target for purchases of exchange-traded funds, highlighting instead that it would prefer to buy “during times of heightened market instability.”



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