June 19, 2024

Bloomberg Daybreak Middle East. Live from Dubai, connecting Asian markets to the European opens. The show will focus on global macro issues with a middle eastern context, provide expert analysis of major market moving stories and speak with the biggest newsmakers in the region.
Simulcast of Bloomberg Television
I Love Wine transports you to the best winemaking regions of the world
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China’s Payment Duopoly May Struggle to Survive
Chinese Manufacturers Get Around US Tariffs With Some Help From Mexico
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Storm Moves Up East China Coast After Blowing Over Shanghai
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Amtrak’s Website Crashes as Long-Distance Trains Canceled
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Coinbase Is Highlighting Politicians on Their Crypto-Friendliness
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World’s Biggest Ether Mining Firm to Shut Down After the ‘Merge’
Dwindling supply changes the equation.
Photographer: Frederic J. Brown/AFP/Getty Images

Tuesday's hotter-than-expected inflation report pours cold water on the possibility of lower interest rates from the Federal Reserve any time soon, and by extension, the prospect of lower mortgage rates. The standoff is set to continue between buyers balking at high home prices and  potential sellers clinging to their homes  that were financed at low mortgage rates. 
Would-be homebuyers who have decided to wait for mortgage rates to fall so they can afford to leap back into the market should realize that waiting isn't going to help — they would just be swapping their too-expensive financing problem for a bidding-war pricing problem as the number of houses for sale shrinks. The best hope for homebuyers now might be to just go ahead and accept the higher mortgage rates and hope to refinance later.

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