Spreadex Market Update

Fears of a housing bubble were raised again this morning



Fears of a housing bubble were raised again this morning as a Bank of England survey reveals that mortgage demand has risen at the quickest pace in six years.  The driving factor in this surge has been attributed to promotions by lenders and the governments Help to Buy schemes.  With house pricing rising 5.5% across the UK for the year to October compared to 12% in the capital has stoked investor’s fear that a bubble is forming in the capital. 

 

US futures are down ahead of the open after snapping a three-day slump yesterday, with ADP non-farm employment change coming in considerably better than forecast at 238k as opposed to the forecast 199k; this figure has yet to prove a boost to the futures.  Instead fear of accelerated tapering has led to a slight sell-off this can be seen further by the strengthening of the dollar since the figure.

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