First decline in Chinese property prices since 2015

New home prices in China fell marginally in September for the first time since April 2015. A new property developer, Sinic, was also unable to meet its commitments on a USD loan. The situation remains tense, although “manageable” according to the Chinese authorities.

Energyscan economics news

Markets that were driven by positive sentiment until yesterday are likely to take a hit as long term bond yields have risen quite sharply in the last few hours, with the US 10 year yield reaching 1.67%, the highest since May. UK inflation came out very slightly lower in September and below expectations at 3.1%, but a clear acceleration is expected before the end of the year and a rate hike by the Bank of England expected in November or December. In Germany, producer prices rose by a record 14.7% year-on-year in September. Final Eurozone inflation data is expected this morning to confirm that it reached 3.4% in September. Little respite for the bond market…

The EUR/USD exchange rate logically seems to be easing this morning in a more cautious market context, after having risen sharply to touch 1.1669 yesterday.

Share this news :

You might also read :

July 1, 2021

OPEC views diverge

The EIA confirmed a decline in commercial crude stocks of about 6.7 mb, maintaining September delivery ICE Brent contracts at elevated levels, 74.5 $/b. There…
July 28, 2021

Nervousness before the Fed meeting

The downward correction in Asian equity markets continues and the Nasdaq has had its worst day in more than two months. Bond yields are edging down (1.23%…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet?