Portugal is preparing a "credible" plan of gradual annual increases in defence spending to reach NATO's new target of 5% of gross domestic product by 2035 without jeopardising its finances, the country's prime minister said on Monday.
* US yield curve steepens amid speculation on Fed's Powell. * Bond market shrugs off tariff talk. * Investors brace for CPI on Tuesday. By Gertrude Chavez-Dreyfuss.
* Tuesday starts run of key economic data, earnings season. * Nasdaq posts seventh record close since June 27. * Crypto stocks jump as Bitcoin hits $120,000 mark. * Waters to merge with Becton's diagnostics arm, shares fall. * Indexes up: Dow 0.2%, S&P 500 0.14%, Nasdaq 0.27% By David French.
Bank of England Governor Andrew Bailey stressed the importance of international cooperation to achieve finance stability, saying in a letter to G20 policymakers on Monday that uncertainty continued to weigh on global growth expectations.
Bank of England Governor Andrew Bailey stressed the importance of international cooperation to achieve finance stability, saying in a letter to G20 policymakers on Monday that uncertainty continued to weigh on global growth expectations.
* Indexes up: Dow 0.14%, S&P 500 0.15%, Nasdaq 0.34% * Nasdaq on course for record closing high. * Crypto stocks jump as Bitcoin hits $123,000 mark. * Waters to merge with Becton's diagnostics arm, shares fall. By Pranav Kashyap and David French.
-The Trump administration's tariffs are likely to boost U.S. manufacturing jobs and real income in a majority of states, but lower employment and income adjusted for inflation in the country as a whole, new research from the San Francisco Federal Reserve showed on Monday.
The Trump administration's. tariffs are likely to boost U.S. manufacturing jobs and real income in a majority of states, but lower employment and income adjusted for inflation in the country as a whole, new research from the San Francisco Federal Reserve showed on Monday.
President Donald Trump on Monday renewed his attacks on Federal Reserve Chair Jerome Powell, saying interest rates should be at 1% or lower. "We should be at 1%. We should be less than 1%," Trump said.
* FTSE 100 up 0.64%; FTSE 250 gains 0.5% * AstraZeneca (AZN) gains after drug meets late-study goals. * Associated British Foods (ASBFF) up after stock upgrade. * Focus on inflation, jobs data later this week.
U.S. President Donald Trump's threatened 30% tariff on European Union imports is complicating the European Central Bank's decision-making but is unlikely to derail plans for a pause in rate cuts next week, five ECB policymakers told Reuters. The ECB signalled after its June meeting that it was likely to keep interest rates unchanged on July 23-24.
* US yield curve steepens amid speculation on Fed's Powell. * Bond market shrugs off tariff talk. * Investors brace for CPI on Tuesday. By Gertrude Chavez-Dreyfuss.
Federal Reserve Chair Jerome Powell has asked the U.S. central bank's inspector general to review the costs involved in the renovation of its historic headquarters in Washington, as Trump administration officials intensify their criticism of how the Fed is being run.
Federal Reserve Chair Jerome Powell has asked the U.S. central bank's inspector general to review the costs involved in the renovation of its historic headquarters in Washington, as Trump administration officials intensify their criticism of how the Fed is being run.
* EU, South Korea seek US trade deals. * U.S. dollar near three-week high. * U.S. CPI, PPI due this week. By Sarah Qureshi. Gold prices slipped after hitting a three-week high on Monday, with attention focused on trade talks and U.S. economic data, while silver climbed to its highest level since September 2011.
-Federal Reserve Bank of Cleveland President Beth Hammack said on Monday she sees no imminent need to lower interest rates right now given that inflation is still too high, amid ongoing uncertainty about how trade tariffs will affect price pressures.
* Fed's Hammack doesn't see imminent need to cut rates. * Hammack says work on controlling inflation isn't done. * Hammack warns tariffs still working their way into economy. By Michael S. Derby.
U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy.
-U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy.
Brazil's economic activity unexpectedly fell in May, central bank data showed on Monday, dragged down by a sharp drop in the farm sector along with declines in tax revenue and industrial output. The IBC-Br index, a leading indicator of gross domestic product, fell 0.7% in May from April on a seasonally adjusted basis, well below the flat reading expected in a Reuters poll.
* Zero rates likely to squeeze Swiss bank lending margins. * Banks expected to pass on cost to borrowers. * Last zero rate phase fuelled higher property prices. By Oliver Hirt, John Revill, Ariane Luthi.
* Trump threatens 30% tariffs on EU, Mexico. * * US CPI, PPI data due later this week. By Anushree Mukherjee. Gold rose to a three-week high on Monday, boosted by safe-haven demand after U.S. President Donald Trump threatened tariffs on the European Union and Mexico, while silver hit a near 14-year peak.
* FTSE 100 up 0.4%; FTSE 250 gains 0.3% * AstraZeneca (AZN) gains after drug meets late study goals. * Associated British Foods (ASBFF) up after stock upgrade. June 13 - The UK's blue chip index held just below its all-time high hit last week as investors assessed the trajectory of U.S. tariffs as well as domestic interest rates, while AstraZeneca (AZN) gained on successful drug trial results.
What matters in U.S. and global markets today. By Mike Dolan, Editor-At-Large, Finance and Markets?. European markets have given something of a gallic shrug to Donald Trump's tariff threat against the region over the weekend, with investor concern instead appearing to build about the intensifying White House attack on Federal Reserve chair Jerome Powell.
By Mike Dolan. What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets. European markets. have given something of a gallic shrug to Donald Trump's tariff threat. against the region. over the weekend, with investor concern instead appearing to build about the intensifying White House attack on Federal Reserve chair. Jerome Powell.
U.S. President Donald Trump says the Federal Reserve should set its benchmark interest rate at 1% to lower government borrowing costs, allowing the administration to finance the high and rising deficits expected from his spending and tax-cut bill. Trump should be careful what he wishes for.
German exporters have lost significant ground in global markets since 2021 due mainly to a broad-based deterioration in the country's competitiveness, the Bundesbank said on Monday.
* US president is pressuring Fed to sharply lower interest rates. * Fed policy rate of 1% is typically a sign of economic crisis. * Cuts to that level could reignite inflation, raising government borrowing costs. By Howard Schneider.
U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy.
-U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy.
-U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy.
* June new yuan loans 2.24 trln yuan vs May's 620 bln yuan. * TSF growth quickest since February 2024. * Economist warns tailwind may fade over the rest of year. * China due to release Q2 GDP data on Tuesday. By Kevin Yao and Ellen Zhang.
By Mike Peacock. Investors may be fixated on Donald Trump's attacks on the Federal Reserve, but the Bank of England also faces increasing political scrutiny, raising alarm bells about the future of central bank independence.
* China's export growth quickened in June, imports rebound. * Exporters making most of U.S.-China tariff truce, analysts say. * China's trade surplus grew to $114.7 billion last month. By Joe Cash and Ethan Wang.
* Euro, Mexican peso dip after Trump's latest tariff threats. * Overall currency reaction muted. * Trump calls for Powell to step down again. * Traders eye China GDP, US CPI releases. By Rae Wee.
* Trump threatens 30% tariffs on EU. * Focus on US CPI data due on Tuesday. * Gold speculators cut net long positions - CFTC. By Brijesh Patel. Gold prices touched a three-week high on Monday, supported by safe-haven demand after U.S. President Donald Trump threatened to impose a 30% tariff on imports from the European Union and Mexico.
MSCI's global equity index edged up on Monday and longer U.S. Treasury yields ticked higher as the latest U.S. tariff threats kept investors on edge while they waited for inflation readings and the start of earnings season later in the week.
* Euro, Mexican peso dip after Trump's latest tariff threats. * Overall currency reaction muted. * Trump calls for Powell to step down again. * Traders eye China GDP, US CPI releases. By Rae Wee.
* White House's Hassett: Fed has 'a lot to answer for' on cost overruns. * Trump can fire Fed Chair Powell 'for cause,' Hassett says. * Republican lawmaker Hill: Trump can criticize, but not fire Powell. * Potential Fed candidate Warsh calls for 'regime change' at Fed. By David Lawder.
Corrects cost overrun figure to $700 million in second paragraph. U.S. President Donald Trump has the authority to fire Federal Reserve Chair Jerome Powell for cause if evidence supports that, White House economic adviser Kevin Hassett said on Sunday, adding that the Fed "has a lot to answer for" on renovation cost overruns at its Washington headquarters.
* EU position attracts swift backing from European capitals. * Bloc ready to take 'proportionate countermeasures' if needed. * Macron says Commission must defend bloc's interests 'resolutely' * Trump's biggest grievance is merchandise trade deficit.
Brazil's central bank will sell up to $1 billion in a dollar auction with repurchase agreement on July 15, it said in a statement on Friday. The auction will start at 10:30 a.m. local time on Tuesday, the central bank said, adding the repurchase is set for November 4. In recent months, the central bank has been promoting. auctions. to roll over maturities scheduled for the beginning of each month.
Brazil's central bank will sell up to $1 billion in a spot dollar auction with repurchase agreement on July 15, it said in a statement on Friday. The auction will start at 10:30 a.m. local time, the authority added.
Canada's main stock index pulled back on Friday from a record high as investors weighed the prospect of increased U.S. tariffs on Canadian goods and after domestic jobs data clipped expectations the Bank of Canada would resume its easing campaign. The S&P/TSX composite index ended down 59.05 points, or 0.22%, at 27,023.25, after notching a record closing high on Thursday.
-U.S. President Donald Trump's fresh tariff announcements make it "messy" to interpret the state of the economy, Chicago Federal Reserve Bank President Austan Goolsbee said, adding that he is hearing a lot of anxiety from business contacts about coming inflation that is not yet obvious in the data.
U.S. President Donald Trump's fresh tariff announcements make it "messy" to interpret the state of the economy, Chicago Federal Reserve Bank President Austan Goolsbee said, adding that he is hearing a lot of anxiety from business contacts about coming inflation that is not yet obvious in the data.
* Trump announces new tariffs on Canada. * Consumer price data due next week next major economic focus. * Treasury seeks dealer feedback on T-bill issuance. By Karen Brettell.
-The U.S. Treasury Department on Friday asked primary dealers for input regarding how it should rebuild its cash balance following the increase in the debt ceiling, and how many Treasury bills it could issue without disrupting the market. The survey was part of Treasury's normal procedure ahead of its quarterly refunding announcement, which is next due later this month.
The U.S. Treasury Department on Friday asked primary dealers for input regarding how it should rebuild its cash balance following the increase in the debt ceiling, and how many Treasury bills it could issue without disrupting the market. The survey was part of Treasury's normal procedure ahead of its quarterly refunding announcement, which is next due later this month.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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