Thursday, 27 December 2012

US home prices rise, yen falls

US home prices continued their rebound in October. The S&P/Case-Shiller home price index increased 4.3 percent from October 2011, the biggest 12-month advance since May 2010.

Meanwhile, in markets, the yen was making the news. From Bloomberg:

The yen slid to a 16-month low against the euro before data tomorrow that may show a decline in Japan’s consumer prices, fanning speculation Prime Minister Shinzo Abe will push the central bank to boost cash infusions.

The currency held near the lowest since 2010 versus the dollar after Abe said in a media briefing yesterday that “bold’ monetary policy is one of the three pillars of his economic measures. Implied volatility on U.S. stocks jumped to a five- month high yesterday, supporting demand for safer assets.

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