U.S. auto sales likely inched higher in the first three months of the year on steady demand, data from the carmakers will show on Tuesday, as the industry braces for the fallout of President Donald Trump's latest tariffs. Market research firm Cox Automotive has estimated that U.S. new-vehicle sales volume increased 0.6% to 3.79 million units in the first quarter from a year earlier.
* Euro zone factories showed signs of meaningful recovery in March. * Japan, S. Korea, Taiwan saw factory activity shrink. * China's private survey showed rebound in factory activity. * China's rebound seen as short-lived as tariff hits exports. By Jonathan Cable and Leika Kihara.
* Gold hits record high at $3,148.88. * Global investors await Trump's tariff plan on Wednesday. * Goldman Sachs (GS) raises probability of US recession to 35% By Rahul Paswan and Sarah Qureshi. April 1 - Gold's record run extended to another all-time high on Tuesday, buoyed by safe-haven demand as investors brace for U.S. President Donald Trump's planned announcement on reciprocal tariffs.
Greece's jobless rate stood at 8.6% in February, down from an upwardly revised 9.1% in January, data from statistics service ELSTAT showed on Tuesday. Seasonally adjusted data showed 404,581 people were officially unemployed. Unemployment impacted women more than men, at the rates of 11.3% and 6.4%, respectively.
Euro zone inflation eased as expected last month and a key measure of underlying price pressures also fell, likely adding to already widespread expectations for another European Central Bank interest rate cut later in April.
British manufacturers endured a torrid March as the U.S. tariff threat and looming tax increases at home contributed to a plunge in new orders and ebbing optimism, a business survey showed on Tuesday.
* Banks raise consumer loan rates to at least 3% * Top lenders have warned of growing personal bad loans. * Higher rates could deter China's consumption push, analysts warn. By Ziyi Tang and Ryan Woo.
The euro zone's long-suffering manufacturing industry showed initial signs of a meaningful recovery last month as output rose for the first time in two years, a survey showed on Tuesday, but the upswing could be hurt by U.S. trade tariffs.
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* Sales in France, Sweden, Denmark, Netherlands fall for 3rd straight month. * Musk's involvement in politics has stirred controversy. * Tesla due to release Q1 sales data on Wednesday. * EV maker launching new version of popular Model Y. * Some showrooms vandalised in Stockholm, Berlin. By Alessandro Parodi.
* Investors gird for Trump's reciprocal tariffs. * With little details out on duties, investors expect volatility. * Aussie wobbles near 4-week low after RBA decision. By Ankur Banerjee.
Australia's central bank on Tuesday left its cash rate steady as widely expected but took a small step towards further easing in a policy meeting dominated by risks of a global trade war. Wrapping up its April policy meeting, the Reserve Bank of Australia held interest rates steady at 4.1%, having just cut them by a quarter point in February for the first time in over four years.
* RBA holds rates steady at 4.1% amid global uncertainties. * RBA warns about risks to global growth and Australia from US tariffs. * Policy statement slightly dovish; markets see chance of May rate cut. By Stella Qiu and Wayne Cole.
- Gold prices rose to touch a new record high on Tuesday, as investors turned to the safe-haven asset ahead of U.S. President Donald Trump's planned announcement of sweeping tariffs on countries that have a trade imbalance with the U.S. Spot gold was up 0.3% at $3,132.43 per ounce as of 11:07 a.m. ET, after hitting an all-time high of $3,148.88 earlier in the day.
Australia's central bank on Tuesday left its cash rate steady as expected at 4.1% saying it was still cautious about the outlook, though it dropped an explicit reference to being cautious about cutting rates again.
* Japan, S. Korea, Taiwan saw factory activity shrink in March. * China's private survey shows rebound in factory activity. * China's rebound seen as short-lived as tariff hits exports. By Leika Kihara.
China's factory activity expanded at its fastest pace in four months in March, buoyed by stronger demand and robust export orders, a private-sector survey showed on Tuesday, although the escalating U.S. trade war clouds the outlook.
Chicago soybean and corn futures fell on Tuesday ahead of the U.S. reciprocal tariff announcement, which could disrupt markets and prompt retaliatory moves against U.S. farm goods. Wheat eased despite support from a U.S. Department of Agriculture report showing lower-than-expected plantings, as favourable weather and a U.S.-backed ceasefire weighed on prices. FUNDAMENTALS.
Australian retail sales rose modestly for a second straight month in February as a long-awaited cut in interest rates combined with slower inflation to boost consumer sentiment and spending power. However, the recovery in consumer spending is still tepid, suggesting consumers remain cautious and would not be a bar to more policy easing.
Japan's factory activity declines accelerated in March as demand weakened and the escalating U.S. trade war clouded the manufacturing outlook, a private-sector survey showed on Tuesday. The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index fell to 48.4 in March from 49.0 in February, hitting the lowest in 12 months.
Japan's factory activity declines accelerated in March as demand weakened and the escalating U.S. trade war clouded the manufacturing outlook, a private-sector survey showed on Tuesday. The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index fell to 48.4 in March from 49.0 in February, hitting the lowest in 12 months.
Big Japanese manufacturers' business sentiment worsened to a one-year low in the three months to March, a central bank survey showed on Tuesday, a sign escalating trade tensions were already taking a toll on the export-reliant economy.
KBRA assigns a long-term rating of AA+ to the City of Pflugerville, TX Combination Tax and Limited Revenue Certificates of Obligation, Series 2025 and Limited Tax Bonds, Series 2025. Key Credit Considerations The rating actions reflect the following key credit considerations: Credit Positives. Credit Challenges. Rating Sensitivities For Upgrade. For Downgrade.
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For most of the past five years, bonds have been in a brutal bear market. Since peaking on March 9, 2020, the iShares 20+ Year Treasury Bond ETF ? the world?s largest fixed-income ETF ? has lost nearly 50%, battered by tight monetary policy, strong economic growth and persistent inflation. Yet, fresh reversal signals have started emerging as the first quarter of 2025 draws close.
New York Federal Reserve President John Williams said on Monday that monetary policy is "well positioned" for what the economy might do this year, as he acknowledged there are risks that inflation could once again heat up.
The asset class extended its selloff last week as concerns regarding the tax-exempt status of munis continued to mount, combined with a heavy new-issue calendar and tax season selling by investors, said Jason Wong, vice president of municipals at AmeriVet Securities.
* Williams sees monetary policy as moderately restrictive. * Barkin favors wait-and-see policy approach at this time. * Trump administration's tariffs cloud monetary policy outlook. By Michael S. Derby, Ann Saphir.
International Monetary Fund Managing Director Kristalina Georgieva said the disinflation process may slow a bit in 2025, but not enough to alter the Federal Reserve's goals of returning to its 2% target in 2026. Georgieva told a Reuters NEXT Newsmaker event that recent high-frequency data showed inflation expectations in February were a little higher than forecast.
Closing is scheduled for White Lake Township, Michigan's second try at a GO bond sale after the first was interrupted by the cybertheft of bond proceeds.
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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