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HomeGerman property prices plummet as housing bubble bursts

German property prices plummet as housing bubble bursts

Thanks for joining me. Britain is at risk of recession after revised official data showed the economy contracted in the third quarter.

The Office for National Statistics said GDP fell by 0.1% in the three months to September.

Two consecutive quarters of recession is defined as a technical recession. The UK started the fourth quarter with a 0.3% contraction in October.

5 things to start your day

first) Hunt hinted at tax cuts in the spring if Britain’s debt bill falls | Economists expect the Chancellor will have more than £10 billion in financial reserves

2) The war with the landlords had backfired – and the British were paying the price | The nation’s hostility towards the ‘bogeyman of modernity’ has reached its peak

3) The Paramount heir prepares to bow out as Hollywood’s streaming wars get ugly | The billionaire tycoon is speculated to be looking to sell 77% of his controlling stake

4) China blocks exports of rare earth technology after lawmakers warned Beijing was ‘weaponizing’ supplies | The move follows Western efforts to limit the country’s access to microchip technology

5) Patrick Minford: The Laffer Curve is about to blow up the SNP | The decision to impose a top tax rate of 48% will bring in only modest amounts of money

What happened overnight

Stocks were mostly higher in Asia after several strong earnings reports helped Wall Street claw back most of its heavy losses from the previous day.

Japan’s core inflation rate fell to 2.5% in November from 2.9% a month earlier due to falling energy costs. This decline could run counter to expectations that the central bank will tighten its loose monetary policy in the coming months.

Bank of Japan officials say they want to ensure inflation is maintained near the 2% target and wages are rising before adjusting the bank’s long-standing negative 0.1% benchmark interest rate. center.

Tokyo stocks pared initial gains and rose only slightly as overseas markets entered the holiday season.

The benchmark Nikkei 225 index rose 0.1%, or 28.58 points, to end at 33,169.05, while the broader Topix index rose 0.5%, or 10.45 points, to 2,336.43 .

The Kospi in Seoul rose 0.4% to 2,609.54. Hong Kong’s Hang Seng index fell 0.4% to 16,548.98 and the Shanghai Composite index was up 0.5% at 2,933.25. In Sydney, the S&P/ASX 200 rose 0.1% to 7,510.90.

Bangkok’s SET fell 0.3% and Mumbai’s Sensex rose 0.3%.

Wall Street stocks continued to gain on Thursday. The Dow Jones Industrial Average of the top 30 U.S. companies closed up 0.9% at 37,404.35 points, while the broader S&P 500 index rose 1% to 4,746.75. Meanwhile, the Nasdaq Composite index, which is heavily weighted toward technology stocks, rose 1.3% to 14,963.87.

The yield on the benchmark 10-year U.S. Treasury note rose 1.5 basis points to 3.892%, from 3.877% late Wednesday.

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