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- Emerging market FX growth underperforms broader market /Euromoney magazine
The explosion in use of RMB comes in part as a result of a widening of a pilot scheme permitting 60,000 Chinese firms to accept direct international RMB payments to virtually every company in China. Payment in a suppliers’ own currency can offer substantial cost benefits and other advantages.
The ultra-low interest rates produced by quantitative easing saw an estimated $2.26 trillion of capital inflows into EMs in 2011 and 2012 alone….
- REAL ESTATE: Housing starts down, construction jobs further down | Las Vegas Review-Journal
Construction permits are an important measure of housing normalcy because they hint at the balance between supply and demand, said Jed Kolko, Trulia’s chief economist. But in this case, the relationship between permits and prices may not be what you think. Prices aren’t surging because of a low supply of new homes. In fact, many markets with big price gains have considerable housing overhangs. Take Las Vegas: Stats from UNLV’s Center for Business and Economic Research show the region has 84,000 vacant homes, including 40,000 single-family homes.
Rather, it’s high investor activity that’s pushing up prices in still-depressed markets, Kolko said. That’s a turnoff for builders, who are just not interested in competing in markets with huge numbers of bargain homes for sale. So where there’s too much supply, builders hang back. That’s why it’ll be tough to say the local market has recovered until permitting is back to normal.
- Bailouts close to turning a profit – Sep. 15, 2013
NEW YORK (CNNMoney)
Five years later, taxpayers still haven’t broken even on the $698.2 billion in government bailouts issued during the financial crisis.
But we’re getting close. The bailouts, which include money disbursed through TARP as well as other funds used to shore up Fannie Mae, Freddie Mac and AIG, may even show a profit by the time the sixth anniversary arrives.
So far, Treasury and the Federal Reserve have recouped $670 billion of those funds. That’s far more than could have been imagined in the dark days of 2008.
Most of the money has been returned to U.S. coffers via the sale of stock in the companies that were rescued. The firms also repaid the government by selling off assets and making loan and dividend payments.
Here’s a rundown of where the payouts stand:…
Read the source article … https://money.cnn.com/2013/09/15/news/ec onomy/bailout-profit/index.html
- Market Insider: Regional Variations in Recovery | RISMedia
Normally, one would expect to see housing starts taking off. Construction has typically provided a strong economic driver coming out of a recession, but such has not been the case this time. During the Great Recession a number of smaller builders went bankrupt, and banks have significantly ratcheted up their credit requirements relative to where they were a few years ago. Large builders with access to a variety of financial sources, including Wall Street, can still obtain money for financing construction. However, the small builder—possibly 5, 12, or 20 houses a year—if still in business, has at best, a much more restricted access to the credit markets. Typically, small builders have accounted for approximately half of the new homes coming onto the market—and a major part of that supply is now gone.
Also see two links above.
Read the source article … https://rismedia.com/2013-09-15/market-i nsider-regional-variations-in-recovery/
- Regional offices and industrial ‘back on investors’ shopping lists’ [UK] | Commercial Briefing
2013 is proving to be a watershed year for UK commercial property, as the economic recovery draws more investors off the side lines.
As well as demand picking up, we are also seeing a change in what is stock in demand — regional offices and industrial are back on investors’ shopping lists. There are also encouraging signs in parts of the retail sector; although this remains an area of commercial property that is still working through structural changes.
In the last two years, good news for property has mostly come from the office sector. However, in recent months signs have emerged that industrial property is moving into a new cycle.