US mortgage rates jump to 7.09%, highest since 2002
The average rate on a 30-year fixed-rate loan was 7.09%, up from 6.96% last week and the highest since April 2002. Recent increases in credit costs and home prices caused…
China’s hidden financial dangers emerge in shadow banking crisis
Until a week ago, Zhongzhi Enterprise Group was little noticed in China and barely mentioned elsewhere. Shadow banking giant Zhongzhi – a private management company with more than $137 billion…
Malaysia struggles to grow due to El Niño
Malaysia’s economic growth in the second quarter was the lowest in nearly two years due to falling exports and a slowing global economy, prompting the country’s central bank to warn…
Global yields reach 15-year highs amid fears of a rate hikes
Global government bond yields continued their ascent – the US 30-year hit its highest level since 2011 and other benchmarks returned to 2008 levels – as resilient economic data refuted…
Dutch economy officially enters recession
The Netherlands unexpectedly fell into its first recession since the pandemic due to a decline in consumer spending and exports. GDP shrank by 0.3% in Q2 of 2023 compared to…