PKB News and Press, Invesco Dynamic Building & Construction From 03/10/23

2023-03-10 07:47:00 ET Summary Aggressive Fed tightening over the past year or so has devastated the value of bond portfolios because interest rates have risen by more and faster than during any prior bond bear market. The bond market is signaling that the outlook for the economy ...

2023-03-09 16:53:00 ET Summary As US short-term rates have moved above 5 percent, longer-term Treasury bonds have rallied, causing their yields to fall. Even with lagging unemployment rates still near historic lows, households are behind on their debt payments by the most since 20...

2023-03-09 03:36:00 ET Summary In many markets, it’s now much cheaper to rent than to buy. For most potential homebuyers, the mortgage rate is well over 7%. Per the stunning plunge in the mortgage purchase applications index, the January bounce in home sales activity wi...

2023-03-08 10:37:00 ET Summary When analysing the business cycle, there are few sectors and areas within the economy of more importance and influence than the housing market. Housing is both a cyclical and interest rates sensitive market. Thus, at the heart of the housing market l...

2023-03-08 01:49:00 ET Summary On Friday, residential real estate brokerage firm Redfin released new data on home prices, showing that prices fell 0.6 percent in February, year over year. Without the central bank propping up MBS demand in the secondary market, primary-market mortg...

2023-03-07 12:11:00 ET Summary In Europe, the UK, and Canada, most mortgages are floating rate or coming up for renewal over the next couple of years. The Bank of Canada saw the housing downturn underway when it paused its rate hiking cycle in December at 4.5%. As Treasury bon...

2023-03-07 11:49:00 ET Summary The relative affordability of the typical new home sold in the U.S. improved in January 2023. Looking forward, we already know mortgage rates averaged close to the same in February 2023 as they did in January. March 2023 however may present a ver...

2023-03-07 03:15:00 ET Summary We are approaching spring, when crude oil prices typically rise, so the “Big Energy Bet” is likely to continue to pay off in the upcoming months. Crude oil inventories in the U.S. are currently 9.7% higher than the 5-year average, so WT...

2023-03-05 09:00:00 ET Summary U.S. equity markets rebounded following their worst week of the year as investors parsed data showing surprising resilience in global economic activity this winter despite stiff interest rate headwinds. Snapping a three-week skid and notching its bes...

Summary COVID created an incredible disequilibrium in the housing market where house prices surged 40%+ and rents are only just playing catch-up. While rents have increased substantially in recent years, it is still far more desirable to rent in most places when compared to buying. ...