1. U.S. Residential Construction Projects Surge
2. U.S. Mortgage Rates Fall to 2-Year Low
3. Family Offices Increase Private Equity Allocations
4. Fed Cuts Rates by 50 Basis Points to Protect Economy
5. Amazon Raises Pay for Logistics Workers
6. GM Begins Selling Tesla Charging Adapters
7. Boeing Execs Take Pay Cuts, White-Collar Staff Face Unpaid Leave
1. U.S. Residential Construction Projects Surge
The U.S. government reported today that housing starts in August surged by 9.6% month-over-month to a seasonally adjusted annual rate of 1.36 million units — the fastest pace since April and above economists’ forecast of 1.32 million.
The number of building permits also rose 5% to 1.48 million, with single-family home permits reaching a four-month high.
New single-family housing starts jumped 16% to a rate of 992,000 — the first monthly increase since February.
However, multi-family housing projects declined for the first time since May.
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2. U.S. Mortgage Rates Fall to 2-Year Low
According to the Mortgage Bankers Association (MBA), 30-year fixed mortgage rates dropped by 14 basis points to 6.15% for the week ending September 13 — the lowest since September 2022. Rates have now fallen for seven consecutive weeks, the longest streak since 2018.
The 15-year fixed mortgage rate also fell 29 basis points to 5.42%, a two-year low as well.
MBA’s mortgage applications index rose 5.4%, hitting a three-month high.
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3. Family Offices Increase Private Equity Allocations
A Citigroup survey of 338 family offices found that nearly half increased allocations to equities and private equity investments this year. Over one-third also deployed more idle, low-risk cash.
The shift indicates growing risk appetite and confidence in direct private investments. Nearly half of respondents prefer directly acquiring businesses over investing through funds or ETFs.
Citi noted that “cash is no longer king” for ultra-high-net-worth families, and portfolio strategies are expected to shift significantly in 2025.
The survey also shows declining interest in private credit and emerging market debt among family offices.
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4. Fed Cuts Rates by 50 Basis Points to Protect Economy
In a closely watched decision today, the Federal Reserve cut its benchmark interest rate by 50 basis points — a bold move to prevent a sharp economic slowdown and support the labor market.
Survey data shows that 10 out of 19 Fed officials expect at least one more 50-basis-point cut before the end of the year.
The FOMC voted 11 to 1 to lower the federal funds rate to a target range of 4.75%–5%. The rate had remained at elevated levels for over a year.
Meanwhile, Goldman Sachs earned $901 million in equity underwriting fees in the first nine months of the year — the most on Wall Street.
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5. Amazon Raises Pay for Logistics Workers
Amazon announced in a blog post today that starting this month, tens of thousands of U.S. warehouse and logistics employees will receive a $1.50 per hour wage increase. Starting next year, they’ll also receive free Prime memberships.
The average hourly wage for Amazon logistics workers is now over $22. The latest raise will cost the company $2.2 billion.
Amazon typically announces pay and benefit increases before the holiday season. Last year, the company invested $1.3 billion in wage hikes.
In comparison, Sam’s Club pays $16/hour, and Walmart pays around $19.50/hour.
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6. GM Begins Selling Tesla Charging Adapters
Starting this month, GM electric vehicle owners can access Tesla’s Supercharger network — thanks to a deal reached last year between GM’s CEO and Elon Musk.
To use Tesla’s 17,800 U.S. fast-charging stations, GM drivers will need to purchase an adapter, available at dealerships for $225.
GM is preparing to launch new EVs priced under $50,000, and the company is recovering from earlier software and production setbacks.
The company hopes integrating with Tesla’s charging infrastructure will boost EV sales.
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7. Boeing Execs Take Pay Cuts, White-Collar Staff Face Unpaid Leave
Boeing announced it will place many full-time employees on unpaid leave in an effort to conserve cash.
Tens of thousands of U.S.-based employees may be affected, with a reported plan requiring three weeks of work followed by one unpaid week. Executives, including the CEO, will take pay cuts.
On September 13, Boeing’s largest union, IAM District 751, went on strike, disrupting production at key aircraft facilities.
Boeing’s current cash situation is serious enough to threaten its investment-grade credit rating.
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本文内容来自《Financial Times》、《Bloomberg》，以及《The Real Deal》等多家财经新闻媒体。