FT News Briefing Trump’s push to privatise Fannie and Freddie
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Jun 3, 2025 Elon Musk's xAI plans a massive share sale, aiming for a $113 billion valuation while navigating a troubled Chinese property market. Political shifts in Poland create challenges for the prime minister as a nationalist candidate rises to power. The discussion dives into Trump's strategy to privatize Fannie Mae and Freddie Mac, raising concerns about market stability and mortgage rates. As global governance trends evolve, the implications for housing and finance sectors are explored, highlighting the complexities within the industry.
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China’s Fragile Property Recovery
- China's property market is suffering from falling home prices and weak investment, hitting economic confidence.
- Government efforts focus on supporting developers and shifting growth towards industrial exports amid trade tensions.
Poland's Political Division Deepens
- Poland’s new nationalist president's veto power threatens PM Tusk's pro-EU reform agenda.
- This division weakens the government’s ability to pass significant legislation towards EU alignment.
Fannie and Freddie's Troubled History
- Fannie Mae and Freddie Mac were government-created but privatized before failing in 2008 crisis and going into conservatorship.
- Trump's plan to privatize them again is unclear but aims to keep government guarantees while restructuring.