The U.S. housing market logged its slowest May for existing-home sales since 2009, confirming that elevated mortgage rates and record prices continue to chill demand even as listings rise. What Happened: Sales slipped 0.7% from a year earlier to an annual rate of 4.03 million, the National Association of Realtors said, leaving activity about 25% below pre-pandemic norms.
Federal Reserve Governor?Michelle Bowman?has expressed her support for a potential interest rate cut in July, provided that inflation remains subdued. What Happened:??Bowman, during a speech in Prague, suggested that?an interest rate cut at?the upcoming July meeting would be appropriate if inflationary pressures remain low,?reported?CNBC on Monday.
The Federal Reserve held interest rates steady at 4.25%-4.50% during Wednesday?s June meeting, with Chair Jerome Powell signaling no urgency to cut rates as officials monitor potential tariff-driven inflation impacts.
In an era of inflation shocks, shifting alliances, and economic volatility, one thing hasn't changed: central banks are doubling down on gold. While investors may debate crypto, equities, or cash, the institutions managing national reserves are quietly ? and consistently ? boosting their gold holdings.
A surge in demand for weight-loss and diabetes medications, paired with fears of incoming tariffs, has propelled Ireland to the center of a pharmaceutical trade boom with the U.S., dramatically widening the bilateral trade imbalance.
Investor caution dominated Wall Street this week, as escalating tensions between Israel and Iran fueled fears of potential U.S. involvement. The Federal Reserve kept interest rates steady at 4.25%-4.5% for the fourth consecutive meeting, reaffirming its cautious stance. Overall economic uncertainty has ?diminished? since March, but the Fed warns that risks remain elevated.
The European Central Bank released its latest Economic Bulletin on Friday. U.S.-based multinational companies play a significant role in the euro area economy. The Bulletin noted that ongoing trade tensions ? such as tariff increases or policy uncertainty ? could impact their business. These tensions might raise costs, disrupt internal company trade, or force changes in how companies handle taxes.
The CNN Money Fear and Greed index was in the ?Neutral? zone on Wednesday. U.S. stocks settled mixed on Wednesday, with the Dow Jones index falling around 0.1% during the session as traders weighed geopolitical uncertainty and awaited the Federal Reserve?s June policy decision. The US Federal Reserve left interest rates unchanged at its recent meeting.
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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