* Dollar/yen at 155.59 as market waits on Ueda press conference. * Euro dipped slightly on lack of ECB outlook. * BoE cut much closer run than market expected; sterling steady.
MSCI's global equities gauge advanced on Friday with technology leading Wall Street higher, while the yen weakened after the Bank of Japan raised interest rates to a three-decade high, as widely expected, and left the door open to more tightening. Oil prices rose as traders weighed the potential impact of a supply disruption from Venezuela.
Japan's Nikkei share average advanced on Friday and Japanese government bond futures rose ahead of a Bank of Japan policy decision, with markets ?widely expecting an interest rate hike later in the day. The ?Nikkei gained 0.6% to 49,306.95, as of ?0014 GMT, and earlier jumped as ?much as ?1%. That followed a 1% drop in the previous session, ?when the index sank to ?a 3 1/2-week low.
* Nikkei bounces, S&P futures flat after tech-led rally. * BOJ expected to hike 25bps, focus on future rises. * Yen needs hawkish outlook to avoid further losses. By Wayne Cole. Asian share markets rebounded on Friday as a turnaround in tech lifted Wall Street, leaving investors counting down to a likely hike in interest rates from the Bank of Japan that could cause waves for currencies and bonds.
The Japanese yen was the worst-performing major currency against the bruised U.S. dollar in 2025, even though the Bank of Japan was the only major central bank to raise interest rates.
* BOJ raises policy rate to 0.75% from 0.5% as widely expected. * BOJ says it will keep raising rates if forecasts materialise. * Hawkish board members dissent from BOJ's view on price outlook. * Ueda offers few hints on pace, extent of further rate hikes. By Leika Kihara and Makiko Yamazaki.
The Bank of Japan raised interest rates on Friday to levels unseen in 30 years, taking another landmark step in ending decades of huge monetary support and near-zero borrowing costs.
Japan's core consumer prices rose 3.0% in November from a year earlier, data showed on Friday, staying above the central bank's ?2% target for the 44th straight month. The outcome reinforces market ?expectations the Bank of Japan will raise interest ?rates to 0.75% from 0.5% at ?a two-day ?policy meeting concluding on Friday.
* November core CPI rises 3.0% yr/yr, matches forecast. * Index excluding fresh food, fuel up 3.0% yr/yr in November. * Data reinforces expectations of BOJ rate hike to ?0.75% By Leika Kihara. Japan's core consumer prices rose 3.0% in ?November from a year earlier, data showed on Friday, ?staying above the central bank's 2% ?target for ?the 44th straight month.
PennyMac Mortgage Investment Trust (PMT) today announced that its indirect wholly-owned subsidiary, PennyMac Corp., has priced an offering of $75 million aggregate principal amount of its 8.500% Exchangeable Senior Notes due 2029 to an investor in a direct placement registered under the Securities Act of 1933, as amended.
* China holdings drop to lowest in 17 years. * Japan's Treasuries rise to nearly three-year peak. * Data shows net capital outflow for October. Foreign holdings of U.S. Treasuries fell in October, data from the Treasury Department showed on Thursday, declining for a second straight ?month, as market sentiment soured in the wake of the longest-ever government shutdown in U.S. history.
This will be the last regular 'Trading Day' newsletter of the year. U.S. stocks rose and Treasury yields fell on Thursday after U.S. heavily distorted inflation figures strengthened bets for another rate cut early next year, while global markets turned their attention to the Bank of Japan's policy meeting and guidance on Friday.
The Brazilian central bank said ?on Thursday ?it will offer ?up to $2 ?billion ?in two dollar auctions ?with repurchase ?agreements on Friday morning. In ?a ?statement, ?the central bank said the ?simultaneous auctions will start at 10:30 a.m. local time. The ?repurchases ?for the auctions are ?set for May 5 and June 2, according to the ?monetary authority.
The Bank of Japan is set to raise interest rates on Friday to a three-decade high and signal its readiness to eye further hikes beyond next year, underscoring its conviction that sustained wage gains will keep inflation durably around its 2% target.
This will be the last regular 'Trading Day' newsletter of the year. U.S. stocks rose and Treasury yields fell on Thursday after U.S. heavily distorted inflation figures strengthened bets for another rate cut early next year, while global markets turned their attention to the Bank of Japan's policy meeting and guidance on Friday.
* BOJ concludes 2-day meeting, decision expected 0330-0500 GMT. * BOJ widely expected to raise policy rate to 0.75% from 0.5% * Governor Ueda to brief media 0630 GMT. * Ueda to pledge further rate hikes, non-committal on timing. * BOJ unlikely to offer much clues on distance from neutral rate. By Leika Kihara.
* TSX ends up 0.6% at 31,440.85. * Industrials and financials both add 0.9% * Energy declines 1.5% * Curaleaf (CURLF) tumbles 32% By Fergal Smith. Canada's main stock index rose on Thursday as investors cheered softer-than-expected U.S. inflation data and recent positive signs on the ?domestic economy.
Federal Reserve Bank of Chicago President Austan Goolsbee said on Thursday "there's a lot to like" in the latest consumer price index data, and if it can be sustained, it will help open the door for more interest rate cuts next year.
Federal Reserve Bank of Chicago President Austan Goolsbee said on Thursday "there's a lot to like" in the latest consumer price index data, and if it can be sustained, it will help open the door for more interest rate cuts next year.
Completed 66 Hotel Sales for Approximately $534 Million in Gross Proceeds during Fourth Quarter to Date Announces Partial Early Redemption of Senior Unsecured Notes due February 2027 Service Properties Trust (SVC) today provided an update on its hotel dispositions and recent actions to strengthen its balance sheet.
Financial stocks were mixed in late Thursday afternoon trading, with the NYSE Financial Index increasing 0.4% and the State Street Financial Select Sector SPDR ETF down 0.1%. The Philadelphia Housing Index was adding 0.3%, and the State Street Real Estate Select Sector SPDR ETF was shedding 0.5%. Bitcoin was falling 1.3% to $85,054, and the yield for 10-year US Treasuries declined 4 basis point...
? New York City Housing Development Corporation bond purchase will help create, rehabilitate or preserve more than 6,300 units of affordable housing ? The Federal Home Loan Bank of New York announced a $225 million investment in a New York City Housing Development Corporation bond issuance that will help create, rehabilitate or preserve 6,320 units of affordable housing across an array of HDC?s...
The three candidates interviewed by President Donald Trump so far to replace Federal Reserve Chair Jerome Powell next May share a desire to cut interest rates, but diverge on other aspects of monetary policy and come from different backgrounds. Kevin Warsh is a former Fed governor who also enjoys close connections to Trump's circle.
* US inflation data increase less than expected. * Trump says next Fed chair to favour lower rates 'by a lot' * BoE cuts rates in tight 5-4 vote, ECB holds rates steady. * Markets look for catalysts from key central bank decisions. By Chibuike Oguh and Samuel Indyk.
The US Federal Reserve has closed formal notices issued to Citigroup (C) that required the bank to enhance trading risk controls, Reuters reported, citing people familiar with the matter. The notices, issued in late 2023, addressed three matters requiring immediate attention.
* Stocks rise on softer inflation, sunnier tech sentiment. * US CPI report for November softer than expected. * BoE cuts rates, ECB stays put. * Oil settles higher, Treasury yields take a dip. By Sin?ad Carew and Amanda Cooper.
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to ?a-? from ?bbb+? of Seguros e Inversiones, S.A. . The outlooks of these Credit Ratings have been revised to stable from positive.
WASHINGTON, Dec. 18, 2025 The Trump administration's decision to reschedule cannabis to Schedule III marks the most significant shift in federal cannabis policy in decades. As banks and credit unions rethink their cannabis strategies, PBC Conference provides the ecosystem and connections they need, making it the must-attend event for anyone serious about cannabis banking.
Market frustration with the November Consumer Price Index is not about how low inflation printed. The report showed that annual CPI inflation slowed to 2.7% in November from 3% in September. Yet economists and inflation watchers argue that the figure was mechanically distorted by the federal government shutdown, which halted data collection in October.
The consumer price index rose 2.7% year-over-year in November, slowing from a 3% gain in September, the most recent data available. The Bureau of Labor Statistics was unable to calculate October data for several key series, so a month-over-month percent change calculation for November was not possible in those cases. Gasoline and vehicle prices were among the series with October data.
The Bank of Mexico lowered its benchmark interest rate by 25 basis points on Thursday, signaling confidence that inflation is still on track to return to target by late next year despite an increase in near-term inflation risks. The reduction, which was widely expected by analysts, brings the rate to 7.00%, its lowest level since April 2022.
The National Association of Realtors' measure of US existing-home sales is expected to accelerate to a 4.15 million annual rate in November, based on a survey compiled by Bloomberg, after rising by 1.2% to a 4.10 million rate in October. Existing-home sales were at a 4.17 million rate in November 2024, so the year-over-year change would be only slightly negative.
U.S. President Donald Trump said on Thursday he interviewed Federal Reserve Governor Christopher Waller a day earlier as a candidate to succeed Jerome Powell as Fed chair, praising him as "great." Trump said three or four finalists remain in contention for the post.
The long-delayed Consumer Price Index report for November offered some early holiday cheer for a Trump administration feeling the heat from Americans over high and climbing prices. Housing costs were up by the smallest margin in four years and food costs rose by the least since February.
The long-delayed Consumer Price Index report for November offered some early holiday cheer for a Trump administration feeling the heat from Americans over high and climbing prices. Housing costs were up by the smallest margin in four years and food costs rose by the least since February.
Argentina posted a trade surplus of $2.5 billion in November, after registering $8.1 billion in exports and $5.6 billion in imports in the month, the government's statistics office said on Thursday. The data landed above the $869 million surplus forecast by analysts polled by Reuters.
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...
* Brazil's central bank will stick to a data-dependent approach ahead of meeting. * Lula rules out pressure on central bank, but expects rate cut soon. * Central bank chief warns against assuming any single indicator will dictate decisions. By Marcela Ayres and Lisandra Paraguassu.
* Stocks rise on sunnier tech sentiment. * US CPI report for November softer than expected. * BoE cuts rates, ECB stays put. * Oil rises with Treasury prices. By Sin?ad Carew and Amanda Cooper.
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.
* FTSE 100 up 0.65%; FTSE 250 up 0.76% * BoE cuts rate to 3.75%, signals cautious easing path. * Defence stocks lead broad-based gains. By Tharuniyaa . London stocks rose on Thursday, lifted by the Bank of England's widely-anticipated interest rate cut and a lower-than-expected reading of U.S. inflation that bolstered the chances of further easing from the Federal Reserve.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of Patria Re, Inc.. The outlook of these Credit Ratings is stable. The ratings reflect Patria US?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
European Central Bank policymakers expect to keep interest rates steady next year but they are not yet ready to take a rate cut off the table because the outlook is too uncertain, three sources told Reuters. The ECB kept rates steady on Thursday and revised upwards some of its growth and inflation projections, a move interpreted by investors as closing the door to further rate cuts.
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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