Euro Stablecoin Interest Frozen as ECB Deposit Rate Hits 2.5%
ECB raised its key rates by 25bp to 2.5%, but euro stablecoin holders see no benefit as MiCA bans interest payments.
August existing home sales hit 3.98 million, matching estimates, with a 2.0% fall from the prior month.
As interest rates continue to rise, the real estate sector enters its final stretch of the year without any relief. The housing market is on track for another weak year, and expectations for 2027 are not optimistic.
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ECB raised its key rates by 25bp to 2.5%, but euro stablecoin holders see no benefit as MiCA bans interest payments.
US Treasury sold $22 billion in 30-year bonds at a high yield of 5.308%, with strong international demand.
The US dollar has stalled for a month; a weak dollar could raise import costs for American consumers.
US producer prices rose 0.4% in August, pushing gold and bitcoin lower as rate hike expectations increased.