AHR Weekly Market Update - Monday 21st August
On this week’s AHR Market review..The primary U.S. stock indices experienced a decline of over 2%, with both the S&P 500 and the NASDAQ marking their third consecutive weekly drops. In the UK, the annual inflation rate eased in July to 6.8% from June's 7.9%, primarily due to decreased energy and food costs.The UK's wage growth picked up speed, intensifying the pressure on the Bank of England (BoE) to further raise interest rates.In the real estate sector, Country Garden, a prominent Chinese developer, incurred a loss of $7.5 billion in the first half of the year and halted trading of certain bonds after missing coupon payments earlier in the month.China's central bank reduced its medium-term lending-facility rate to 2.5%, marking the second cut in three months, as new economic data highlighted China's faltering economy. The global equity markets mirrored the decline in the U.S., with international equities mostly following suit.Within the Fixed Income market, the yield of the 10-year U.S. Treasury bond briefly surpassed 4.32% on Thursday, reaching its highest level since November 2007. To hear more click the link.