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Mortgage market sends wrong message

THE Covid-19 pandemic arrested the plans of millions of Americans to purchase a home. But what if you lock someone down in a home they had already mentally moved out of? Might they pour their energy into touring homes online to produce a short list of targets? And might they get pre-approved for a mortgage so it’s a simple matter of income verification once the economy reopened and they’d submitted an offer on a home?


Short position

WHETHER people like it or not, it is the foreign flow of money into the stock market that really is the fifth gear for market momentum.


Chinese banks cut corporate bond holdings by most in 17 months

BEIJING: China’s commercial banks sharply cut their holdings of corporate bonds last month in response to a heavy supply of local government paper, even as recent easing measures announced by the central bank encourage lenders to buy more company notes.