Iran. Ebrahim Raisi. “Rescue teams are trying to locate Iranian President Ebrahim Raisi after his helicopter was forced into an emergency landing on his way back from a visit to the country’s northwest.” — Bloomberg.
Nigeria. Central Bank of Nigeria. naira. “Central bank intervention this week failed to stop slide in Nigeria’s naira to a two-month low ahead of a rate decision Monday. The central bank’s monetary policy committee meets next week and is expected to raise rates further in a bid to keep foreign investors interested in Nigerian paper.” — Bloomberg.
Hong Kong. China. digital yuan. “Hong Kong launched a pilot program enabling digital yuan payments through major Chinese banks, the first example of China’s currency project being deployed beyond the mainland.” — Bloomberg.
New Zealand. Reserve Bank of New Zealand. kiwi. “New Zealand’s dollar is poised to extend recent gains and rally toward its March high as concern over elevated inflation damps expectations for interest rate cuts this year.” — Bloomberg.
United States. 24X National Exchange. Steve Cohen. “24X National Exchange, a trading platform backed by hedge founder Steve Cohen, is seeking SEC approval to operate an around-the-clock exchange.” — Yahoo Finance.
Australia. housing. interest rates. “At first glance, it does appear that there could be a positive relationship between interest rates and market rents-the two often move together. However, our preliminary analysis suggests that market conditions (captured via the vacancy rate) explain most of the movement in market rents, and there is little evidence of direct pass through to rents from higher interest rates in the short term. Many dwelling construction projects are funded by debt, and so higher interest costs will dampen the flow of new housing supply. Over the long run, it is the fundamentals of demand and the structural build cost that ultimately dictate supply – monetary policy does not have an impact on either of these underlying drivers.” — Sarah Hunter, Assistant Governor, Reserve Bank of Australia.
Alton Drew
19 May 2024
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Alton Drew 