Bitcoin is back to $86,000 in volatile U.S. trading hours on Thursday, which saw inflation cool more than expected in November. What Happened: Market commentatr The Kobeissi Letter highlighted that U.S. core CPI fell to 2.6% year-over-year, the lowest since March 2021 and a sharp downside surprise versus expectations. The print marked one of the largest inflation decelerations since 2023.
Gold edged down from a record high midafternoon Thursday after the dollar and treasury yields weakened after the United States released incomplete data showing inflation slowed in November.
US benchmark equity indexes were higher intraday, aided by a cooler-than-expected consumer inflation report and a post-earnings rally in Micron Technology (MU) shares.
Financial stocks were higher in Thursday afternoon trading, with the NYSE Financial Index increasing 0.4% and the State Street Financial Select Sector SPDR ETF adding 0.3%. The Philadelphia Housing Index was adding 0.4%, and the State Street Real Estate Select Sector SPDR ETF was shedding 0.4%. Bitcoin was increasing 0.2% to $86,459, and the yield for 10-year US Treasuries was declining 3 basis...
Weekly applications for unemployment insurance in the US fell more than projected, while continuing claims rose, government data showed Thursday. For the week through Dec. 13, the seasonally adjusted number of initial claims dropped by 13,000 to 224,000, the Department of Labor said.
The European Central Bank expects inflation over the next few years to be very close to its 2% target, said Berenberg. At the same time, growth forecasts have been revised upwards. Although there are numerous risks to the further development of inflation, the ECB currently considers them to be balanced, stated Berenberg.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.21%. ?The average 30-year fixed-rate mortgage has remained within a narrow 10-basis point range over the last two months,? said Sam Khater, Freddie Mac?s Chief Economist.
European stock markets look set to close higher in Thursday trading as the Stoxx Europe was up 0.97%, Germany's DAX was advancing 0.99%, the FTSE 100 was gaining 0.69%, France's CAC was rising 0.95%, and the Swiss Market Index was moving 0.82% higher. The European Central Bank's Governing Council said Thursday that it has kept its three key interest rates unchanged.
The Czech central bank Thursday said its board kept interest rates unchanged, with the two-week repo rate at 3.50%, the discount rate at 2.50% and the Lombard rate at 4.50%. This decision was expected by market analysts, noted ING. Lower energy prices will likely bring next year's headline inflation below the target, while core inflation will be exposed to opposing forces, stated ING.
All three major US stock indexes were up in late-morning trading Thursday after the latest batch of inflation data came in lower than expected. The US seasonally adjusted consumer price index, a measure of inflation, rose by 2.7% in November from the year-ago period, below expectations for a 3.1% increase in a survey conducted by Bloomberg.
The Kansas City Fed monthly manufacturing index fell to a reading of 1 in December from 8 in November, below expectations for a smaller decline to 6 in a survey compiled by Bloomberg. The decrease follows lower readings for the other regional manufacturing data released so far.
Freddie Mac today announced that its offer to investors to exchange certain eligible Gold PCs and Giant PCs for TBA-eligible and non-TBA-eligible mirror securities will close on December 18, 2026. Freddie Mac announced the opening of the exchange offer on May 7, 2019.
US consumer prices rose less than expected on an annual basis in November, while core inflation decelerated to the lowest since early 2021, likely keeping the door open for another interest rate cut by the Federal Reserve. The consumer price index rose 2.7% year over year, the Bureau of Labor Statistics reported Thursday.
Gold edged down from a record high early on Thursday after the dollar and treasury yields weakened after the United States released incomplete data showing inflation slowed in November.
US stocks look set to open higher in Thursday's trading session as investors dissect key inflation and jobless claims figures released earlier in the morning, which came in lower than expected.
The Canadian dollar is ending the year on a "strong footing", with gains broad-based across the G10: all currencies except the Swedish krona have depreciated against the loonie, National Bank of Canada noted Thursday. It said the recent resurgence reflects a mix of better-than-expected economic data and clearer policy follow-through from the Canadian federal government since the Nov. 4 budget.
Retirement optimism dropped by over 10% in 2025, according to new consumer sentiment data by PensionBee (PBNYF). 2025 brought volatile markets, unprecedented tariffs, and the longest government shutdown in history.
U.S. inflation cooled more than expected in November, giving investors renewed confidence that price pressures are easing and strengthening expectations that the Federal Reserve's easing cycle can stay on track into 2026. The Consumer Price Index rose 2.7% year over year in November 2025, the Bureau of Labor Statistics reported Thursday.
The Bank of England delivered its fourth rate cut of the year, reducing 25bps and taking Bank Rate to 3.75% on Thursday, as expected, said Sanjay Raja, chief United Kingdom Economist at Deutsche Bank. As has been a long-standing theme for the BoE, divisions within the Monetary Policy Committee remain, noted Raja. It's now been more than four years since investors had a unanimous decision.
The US seasonally adjusted consumer price index, a measure of inflation, rose by 2.7% in November from a year earlier, below expectations for a 3.1% increase in a survey conducted by Bloomberg. Core CPI, which excludes food and energy prices, rose by 2.6% year-over-year, also lower than the consensus estimate for a 3.0% increase.
US initial jobless claims fell to a level of 224,000 in the employment survey week ended Dec. 13 after rising to an upwardly revised 237,000 level in the previous week, compared with expectations for a decrease to 225,000 in survey of analysts compiled by Bloomberg. Initial claims were at a level of 222,000 in the employment survey week ended Nov. 15.
Inflation picked up again in November, marking a third consecutive increase and reviving investor concerns that the central bank may be forced into an extended pause in its easing cycle. The Consumer Price Index rose 3.1% year-over-year in November 2025, hitting the highest inflation rate since May 2024, the Bureau of Labor Statistics reported Thursday.
The US dollar rose against its major trading partners early Thursday, except for a decline versus the pound, ahead of the release of weekly jobless claims, delayed consumer price index data for November and the Philadelphia Federal Reserve's manufacturing reading for December, all at 8:30 am ET.
Sterling has continued to trade at weaker levels ahead of Thursday's Bank of England policy meeting following the release earlier in the week of the much weaker-than-expected United Kingdom consumer price index report for November, said MUFG.
Commerzbank in its "European Sunrise" note of Thursday highlighted: Markets: United States Treasury yields decline in late New York session and open lower in Asia. Fed: Atlanta Federal Reserve President Raphael Bostic says inflation is more worrying than jobs, while it's a close call.
US futures were tracking higher hours before Thursday's market open, as technology stocks stabilize while traders await inflation data from November's Consumer Price Index. In the futures, the S&P 500 was 0.4% higher, the Nasdaq was up 0.8%, and the Dow Jones advanced by 0.2% Asian markets were mixed at Thursday's close, while most European bourses were edging higher mid-session.
Societe Generale in its early Thursday economic news summary pointed out: -- Major currencies rangebound before European Central Bank, Bank of England, European Union Council summit. -- Japan: international investors bought net 1.41 trillion yen of Japanese government bonds last week, the most in eight months. -- Day ahead: ECB forecast to stay on hold, to raise gross domestic product estimate.
Asian stocks were mixed Thursday as investors awaited results of various central banks' year-end policy meetings. The Bank of Japan is widely expected to announce a rate increase on Friday, potentially taking borrowing costs to their highest level in three decades.
"Once this week is done, that's it for the year. The following week is Christmas, and then after that, the new year," said Jeff Timlin, a partner at Sage Advisory.
The Federal Reserve can afford to ease monetary policy further amid continued concerns regarding the labor market, Governor Christopher Waller said Wednesday. Last week, the central bank's Federal Open Market Committee lowered its benchmark lending rate by 25 basis points, marking a third straight cut amid ongoing job market worries.
JPMorgan Chase (JPM) has moved nearly $350 billion out of its Federal Reserve account since 2023 to increase its holdings of US Treasuries, the Financial Times reported Wednesday, citing data compiled by industry data tracker BankRegData. The bank reduced its Fed balance from $409 billion at the end of last year to $63 billion by Q3, the report added.
Fed Governor Christopher Waller said that the FOMC should continue to lower its policy rate at a "moderate" pace due to the soft labor market, adding that he is not concerned about a reacceleration of inflation and that tariffs are likely to have a one-time effect on price levels and not provide ongoing upward pressure.
A looming government shutdown marks an uncertain future for the country as economists and muni leaders point to the positive effects of stubborn inflation on state tax revenues.
Financial stocks edged higher in Wednesday afternoon trading, with the NYSE Financial Index fractionally higher and the State Street Financial Select Sector SPDR ETF increasing 0.1%. The Philadelphia Housing Index was falling 1.6%, and the State Street Real Estate Select Sector SPDR ETF rose 0.2%. Bitcoin was dropping 1.5% to $86,568, and the yield for 10-year US Treasuries was rising 1 basis p...
US equity indexes declined, led by the Nasdaq Composite, amid a jump in volatility and gains in government bond yields in midday trading on Wednesday. The Nasdaq dropped 1.1% to 22,863.2, with the S&P 500 down 0.7% to 6,751.9 and the Dow Jones Industrial Average 0.2% lower at 48,037.1. Technology, communication services, and industrials led the decliners, while energy emerged as the top gainer.
Deutsche Bank said it expects Mexico's central bank to deliver a "hawkish cut" featuring a 25 basis point reduction of the policy rate to 7% on Thursday, along with a revamped forward guidance aimed at sending an unequivocal signal of a pause in the normalization process.
Morgan Stanley said it expects the European Central Bank to be on hold on Thursday. The focus will be on the updated projections and communication around it. Morgan Stanley sees a 5-to-4 vote for a 25bps rate cut to 3.75% at the Bank of England on Thursday, and unchanged messaging.
The drop in the United Kingdom consumer price index inflation, from 3.6% year over year in October to 3.2% year over year in November, was larger than any forecaster anticipated, said Berenberg after Wednesday's data. If not reversed, the decline in goods prices in November would put inflation on course to fall below the Bank of England's 2.0% target next summer, noted Berenberg.
Newfoundland and Labrador's budget deficit for fiscal year 2025-26 has been revised to $948 million, or 2.2% of nominal gross domestic product, which is larger than the $372 million deficit, or 0.9%of GDP, planned in Budget 2025 in the first fiscal update by the new Progressive Conservative government, said Scotiabank.
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.
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