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The Federal Reserve indicated that inflation risks remain "considerable" due to the uncertain impact of new trade tariffs, casting fresh doubt over imminent interest rate cuts, according to the July Federal Open Market Committee minutes released Wednesday.

30 Federal Open Market Committee meeting showed divisions forming between those that see inflation as the greater concern, those that see risks higher for employment growth and those that see a balance.

Attorneys with expertise in municipal disclosure say issuers who land on the list of "sanctuary" jurisdictions need to at minimum do an analysis of how it may impact their obligations.

The majority of participants at the Fed's last monetary policy meeting saw inflation risk outweighing employment risk.

While most Federal Open Market Committee participants at the July 29-30 FOMC meeting agreed that monetary policy was well-positioned to deal with economic developments, minutes of the meeting released Wednesday showed divisions emerging among the officials.

It's the latest attack on one of the nation's largest infrastructure projects that has long been the focus of Republican ire.

Gold prices rose midafternoon on Wednesday, moving higher following four losing sessions as the dollar and yields fell with the market awaiting the Friday start of the Federal Reserve's annual Jackson Hole Economic Policy Symposium in Wyoming. Gold for December delivery was last seen up US$30.10 to US$3.388.80 per ounce.

Financial stocks were higher in Wednesday afternoon trading, with the NYSE Financial Index increasing 0.3% and the Financial Select Sector SPDR Fund up 0.4%. The Philadelphia Housing Index was falling 1.8%, while the Real Estate Select Sector SPDR Fund was adding 0.4%. Bitcoin was rising 0.6% to $114,146, and the yield for 10-year US Treasuries was shedding 2.1 basis points to 4.28%. In economi...

"Annette's expertise and experience add an important new dimension to our already strong Texas K-12 public finance team," Ajay Thomas, FHN Financial's head of public finance, said.

Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index adding 0.4% and the Financial Select Sector SPDR Fund up 0.3%. The Philadelphia Housing Index was falling 1.8%, while the Real Estate Select Sector SPDR Fund was adding 0.5%. Bitcoin was increasing 0.6% to $113,920, and the yield for 10-year US Treasuries was shedding 2.3 basis points to 4.28%. In corp...

The Toronto Stock Exchange is up 78 points with energy, the biggest gainer. Limiting gains are losses in the healthcare and tech sector, which is 1.1% and 0.4% lower, respectively. In Canada, BMO Economics said Tuesday's CPI report showed inflation eased to 1.7% year on year in July, though core price pressures remained elevated.

goeasy on Wednesday said it closed an upsized offering of US$450 million of senior unsecured notes due 2031, and C$175 million of 6.0% senior unsecured notes due 2030. The new Canadian-dollar notes were issued at C$997.50 per C$1,000 principal amount, plus accrued interest from May 15.

National Bank of Canada on Wednesday provided its scorecard for precious metal companies following the sconf-quarter reporting season. Companies with previously outlined target price revisions of 10% or more include: SSR Mining, OceanaGold EMX Royalty (EMX) and Newmont (NEM). The bank said the names best positioned after the earnings season include Endeavour Mining (EDVMF) and Kinross Gold (KGCRF) among senior producers.

There were no surprises in Canada's CPI report for July, released on Tuesday, with the non-seasonally adjusted number printing at 0.3% month over month, which was expected, while it was just 0.1% on a seasonally-adjusted basis, said Rosenberg Research.

Tokio Marine HCC, based in Houston, Texas, today announced that Fitch Ratings has affirmed the ?AA-? Insurer Financial Strength Ratings for its insurance company subsidiaries and the ?A? Long-Term Issuer Default Rating for HCC Insurance Holdings, Inc. The outlook for all of Fitch?s ratings is Stable.

Never say never, but TD said it expects that cooler economic growth will turn down the temperature on Canadian inflation, enabling the Bank of Canada to cut interest rates later this year.

One argument Derek Holt, vice-president of Scotiabank Economics, has a hard time with is that the Bank of Canada should be cutting more because of slack. That's not just because the amount of estimated slack is small and because output gaps play a limited role in explaining inflation.

Data on Wednesday in Canada revealed that the consumer price index slowed in July to 1.7% year over year thanks to accelerating deflation in energy prices, noted Societe Generale. The core rate was unchanged at 3.0% year over year. The pass-through of tariffs was muted with goods prices rising a feeble 0.1% month over month, the same as June, wrote the bank in a note to clients.

Gold prices rose early on Wednesday, moving higher following four losing sessions as the dollar and yields fell with the market awaiting the Friday start of the Federal Reserve's annual Jackson Hole Economic Policy Symposium in Wyoming. Gold for December delivery was last seen up US$25.60 to US$3.384.30 per ounce.

Hinojosa has built a strong reputation for creative solutions to complex challenges in the public finance arena, according to a statement nominating him for the honor.

Qualcomm (QCOM), Home Depot (HD), T-Mobile, United Health, and Meta Platforms (META) corporate bonds have been acquired by President Donald Trump since he returned to office in January, according to a White House disclosure filed with the Office of Government Ethics on Tuesday. The document disclosed over 500 transactions.

Midwest municipal bond volume surged more than 29% year-over-year to $46.05 billion for the first half of 2025.

U.S. stock index futures slipped and Japanese bond yields rose as risk aversion crept into markets.

Wednesday's inflation report confirmed what Deutsche Bank's chief U.K. economist Sanjay Raja said he expected: the headline consumer price index was a touch stronger than consensus, with overall price momentum up 3.8% year over year, core CPI up 3.8% year over year and services CPI up 5% year over year.

The US dollar was mixed against its major trading partners early Wednesday - up versus the Euro and Canadian dollar, down versus the pound and yen -- ahead of the release of weekly oil stocks inventory data at 10:30 am ET and minutes of the June 29-30 Federal Open Market Committee meeting, where two Fed governors dissented from the decision to maintain interest rates, at 2:00 pm ET.

Canada will release the New House Price Index for July at 8:30 a.m. ET on Wednesday, said Bank of Montreal. The bank expects the NHPI to fall 1.5% year over year in July as the housing market remains under pressure. Tuesday's consumer price index report showed inflation eased to 1.7% year over year in July, though core price pressures remained elevated.

Iceland's central bank Wednesday said its Monetary Policy Committee kept interest rates unchanged, including the key rate on seven-day term deposits at 7.50%. All MPC members voted in favor of the decision, noted the central bank in its policy statement. Headline inflation measured 4% in July, after falling by 0.2 percentage point from the previous month.

Wall Street futures pointed modestly lower pre-bell Wednesday as traders weighed earnings reports, the tech outlook, and awaited clues from the nation's central bank. The Federal Reserve at 2 pm ET will release minutes from its July 29-30 policy meeting.

Your day-ahead look for Aug. 20, 2025

The biggest mover overnight Tuesday was the New Zealand dollar, which has weakened sharply by over 1% against the US dollar, said MUFG. It has resulted in the NZD/USD rate falling back towards 0.5800 while AUD/NZD has risen above 1.1050, wrote the bank in a note.

Societe Generale in its early Wednesday economic news summary pointed out: -- Risk off on Tech retracement, JPY/G10 bid, yields steady. -- United Kingdom consumer price index accelerates to 3.8% year over year in July, above forecast. -- Sweden's Riksbank keeps policy rate on hold at 2.0%, still sees some probability of a further interest rate cut this year.

Canada?s long-standing productivity gap has been a persistent concern?but BDC suggests a surprisingly simple way to take action: the 5-hour hack.

Hanover Insurance Group (THG) said late Tuesday it has priced a registered offering of $500 million of 5.5% senior unsecured notes due 2035. Net proceeds will be used to repay the company's outstanding 7.625% senior notes due 2025 and 4.5% senior notes due 2026, as well as for general corporate purposes, the company said. Closing of the offering is expected on Thursday, subject to customary conditions.

US benchmark equity indexes ended lower on Tuesday as big tech stocks slumped and the Trump administration broadened its 50% tariffs on steel and aluminum to over 400 new product categories. * Housing starts in July rose 5.2% to an annual rate of 1.428 million from the previous month, exceeding Bloomberg's estimate of 1.297 million.

The muni bond market remains strong, supported by Treasury market strength, said Anders S. Persson, Nuveen's chief investment officer for global fixed income, and Daniel J. Close, Nuveen's head of municipals.

Financial stocks were mixed in late Tuesday afternoon trading with the NYSE Financial Index little changed and the Financial Select Sector SPDR Fund gaining 0.1%. The Philadelphia Housing Index climbed 1.7%, and the Real Estate Select Sector SPDR Fund added 1.6%. Bitcoin fell 2.9% to $112,905, and the yield for 10-year US Treasuries dropped 3.9 basis points to 4.30%. In economic news, July hous...

Fed Vice Chair for Supervision Michelle Bowman told Bloomberg in an interview that she still believes that a rate reduction at the July 29-30 Federal Open Market Committee meeting was appropriate and stands by her dissent at that meeting.