Market Update | 07.12.23

DID YOU KNOW?

Top Headlines: Delivered by Leonard Steinberg

July 12, 2023

01  The US jobs market remains very strong  with record-level employment. Chances of further rate hikes are high as the Fed is determined to raise unemployment...... in its continued effort to curb inflation.

 

 

 

 

02  70 million people have already signed up for THREADS - in about 48 hours - showcasing how we simply don't have enough social media in our lives and want more, more MORE!!!!!  (CNBC)

03  The money circulating in the U.S. is shrinking fast, and now the contraction has lasted for six straight months, an unprecedented stretch that indicates inflation is easing. (BARRONS)

04  The lack of uber-luxury apartments in Tokyo, a city otherwise full of indulgent shopping choices, has long baffled foreign investors. But that’s starting to change as new developments with sweeping views, swimming pools and 24-hour valets are snapped up by local and overseas buyers taking advantage of a weaker yen and low interest rates. At The Kita, a complex designed by award-winning architect Kengo Kuma, a penthouse residence with a rooftop infinity pool was sold last week for around $50 million, according to its Vancouver-based developer Westbank Corp. The 507 square meter (5,457 square foot) unit has a view of the lush forest surrounding the nearby Meiji Shrine. (BLOOMBERG)

05  The average price of a home in the greater Toronto Area fell 1.2% in June from May to $890,084, while the number of sales declined 16.9%. (REUTERS)