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Transatlantic Tensions Shake Global Markets After New Tariff Threats

                                                 The Pituffik Space Base (formerly Thule Air Base) in Greenland Global markets faltered as fresh tariff threats from U.S. President Donald Trump reignited fears of a renewed trade clash between Washington and key European partners. The announcement targeted several EU nations and immediately sent shockwaves through equities, currencies, and commodities. European stocks opened sharply lower, with export‑heavy sectors—particularly autos, luxury goods, and industrials—bearing the brunt of the selloff. Major multinational firms saw billions wiped from their market value within hours as investors braced for potential retaliatory measures from Brussels. The proposed tariffs, set to begin at 10% and potentially rise to 25% later in the year, stem from escalating geopolitical disagreements that have st...
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Canadian Home Sales Dip in May, Listings Show Modest Growth

 

Amid a somewhat sluggish market, Canadian home sales experienced a slight decline in May. According to data from the Canadian Real Estate Association (CREA), sales fell by 0.6% compared to April and were down 5.9% year-over-year. The average home price also dipped to $699,117, marking a 4% decrease from the previous year.

However, there’s a silver lining: the number of newly listed properties increased by 0.5% in May, signaling a modest uptick in listings. By the end of the month, approximately 175,000 properties were available for sale across the country, a substantial 28.4% increase compared to the same period last year. Despite this positive trend, it’s worth noting that listing levels remain below historical averages.

Economists are cautiously optimistic. The recent interest rate cut by the Bank of Canada (the first in over four years) may encourage buyers to re-enter the market. While the impact on affordability is still uncertain, further rate relief could set the stage for a stronger second half of 2024. As bond yields decline, we may see increased activity in June, striking a balance between lower mortgage rates and potential home price growth.

In summary, May was indeed a “sleepy month” for housing activity in Canada, but with interest rates playing a pivotal role, the market’s dynamics could shift in the coming months. Keep an eye on developments as we navigate this intriguing real estate landscape.


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