The loss of federal jobs combined with delays in accessing employment data are contributing to flat revenue estimates for the Washington, D.C., government.
Activity in Texas' services sector continued to contract in December, though less than expected, amid near-zero readings for employment and part-time employment, the Federal Reserve Bank of Dallas said Tuesday. The general business activity index fell to a reading of minus 3.3 this month from minus 2.3 in November, compared with expectations for a minus 4.6 print in a survey compiled by Bloomberg.
European stock markets closed higher on Tuesday with the Stoxx Europe 600 up 0.7%, Germany's DAX gaining 0.6%, the FTSE 100 advancing 0.8%, France's CAC rising 0.7%, and the Swiss Market Index adding 0.2%. In economic news, Spain's annual change in the consumer price index was 2.9% in December, down from 3% last month, according to the country's statistics office INE.
Nomura expects the Bank of Canada to maintain its policy rate of 2.25% through 2026. While the balance of risks around growth remains skewed to the downside, the risk profile around inflation raises the bar for additional easing, wrote the bank in its "Global Macro Outlook 2026" note of ec. 11.
* CFPB faces extinction under Trump administration, will run out of money in early 2026. * Warren defends CFPB, says it's crucial for consumer protection against financial abuse. * Critics argue CFPB is redundant, unconstitutional and has been used as political weapon. By Douglas Gillison.
* US stocks dip ahead of Fed minutes. * European shares at record highs, Asia holds 2025 gains. * Silver, gold find footing after startling slump. * Oil holds gains as Ukraine peace hopes dented. By Stephen Culp. NEW YORK, Dec 30 - U.S. stocks edged lower on Tuesday, while gold bounced back and benchmark Treasury yields turned higher on the penultimate trading day of a turbulent year.
US home prices increased sequentially in October, although the annual growth rate was among the weakest since the middle of 2023, S&P Global (SPGI) division S&P Dow Jones Indices said Tuesday. The S&P Cotality Case-Shiller Index, formerly known as the S&P CoreLogic Case-Shiller Index, rose 0.4% month-on-month in October after seasonal adjustments, following a 0.2% gain in September.
* Minutes expected to show central bank split on 2026 policy. * Dollar index poised for steepest annual drop in eight years. * China's yuan breaches key level against dollar. By Chuck Mikolajczak. NEW YORK, Dec 30 - The dollar advanced on Tuesday ahead of the release of minutes from the Federal Reserve's December meeting, as investors attempt to gauge the path of monetary policy.
The Swiss franc has been the second-best performing G10 currency in 2025, strengthening sharply by around 14% against the US dollar while remaining relatively stable against the euro, said MUFG.
DLP Capital, a private real estate investment firm with headquarters in St. Augustine, Florida, and offices in Bethlehem, Pennsylvania, and Asheville, North Carolina, announced today the successful closing of $108.4 million in Freddie Mac refinancing loans across three multifamily properties owned by the DLP Housing Fund.
Nigeria's central bank forecasts 4.49% economic growth and inflation easing to an average 12.94% in 2026, citing stable forex markets and rising oil output as reforms take hold, its latest outlook showed on Tuesday.
The Case-Shiller National Home Price index fell by 0.2% in October before seasonal adjustment following a 0.3% decrease in September. National home prices were up 1.4% year-over-year, up from 1.3% in September.
The FHFA's measure of home prices rose by 0.4% in October after a revised 0.1% decrease in the previous month, well above a 0.1% gain expected in a survey compiled by Bloomberg. Prices were up 1.7% from a year earlier in October. Home prices rose in October in seven of the nine US regions, led by a 1% increase in the West South Central region.
US equity futures were flat pre-bell Tuesday but trending downward amid low trading volume as wary investors looked ahead to remarks from the Federal Reserve's latest policy meeting. Dow Jones, S&P 500, and Nasdaq futures were all treading water. Later in the day, the Federal Open Market Committee will release a summary of its most recent policy meeting.
Spain's core consumer price index inflation held firmer than expected at 2.6% year over year, while the consensus was 2.5% consensus and the previous reading 2.6%, said Scotiabank after Tuesday's CPI data. On a month-over-month basis, it was up by about 0.4% in seasonally unadjusted terms, noted the bank.
US equity futures were flat but trending slightly lower after spending much of the premarket in the red amid low trading volume, a shortened year-end holiday week, and anxiety over the release of the minutes from the Federal Reserve's latest policy meeting.
Brazil's unemployment rate fell in the three months to November to its lowest level since the current ?data series began in 2012, while formal job creation last month came ?in above estimates, official data showed on Tuesday.
Bitcoin is trading around $87,000 on Tuesday as liquidations stand at $188.74 million over the past 24 hours. Bitcoin ETFs saw $19.3 million in net outflows on Monday, while Ethereum ETFs reported $9.63 million in net outflows. What's Holding Markets Back Michael van de Poppe said Bitcoin continues to face rejection above $88,000 and remains locked in a multi-week consolidation range.
* Fed minutes expected to show central bank divided on 2026 policy. * Dollar index poised for steepest annual drop in eight years. * China yuan breaches key level against dollar. By Dhara Ranasinghe and Ankur Banerjee.
The US dollar rose against its major trading partners early Tuesday, except for a decline versus the yen, ahead of another busy day of data releases, starting with weekly Redbook same-store sales at 8:55 am ET and home price data for October at 9:00 am ET.
Brazil's public sector gross debt hit ?79.0% of ?gross domestic ?product in November, ?up ?from 78.4% the ?month before, ?central bank data showed on ?Tuesday. The ?public ?sector recorded a primary deficit ?of 14.4 billion reais for the month, ?against ?a 14.0 billion reais shortfall ?expected by economists polled by Reuters.
* German 10-year bond yield rises ahead of Fed minutes. * Fed's December meeting showed disagreement on policy path. * ECB not expected to change rates soon. By Samuel Indyk.
U.S. bond investors may face a tougher 2026, with some market-watchers forecasting slower returns as the Federal Reserve dials back rate cuts and potential fiscal stimulus complicates the outlook after a banner year. The cautious forecast comes after a strong 2025 for bondholders, when Fed easing and a supportive economy fueled the market's best performance since 2020.
The U.S. Federal Reserve agreed to cut interest rates at its December meeting only after a deeply nuanced debate about the risks facing the U.S. economy right now, according to minutes of the latest two-day session.
* US bonds post best return since 2020. * Fed's smaller rate cuts expected in 2026, impacting returns. * Long-term Treasury yields may rise due to fiscal stimulus. * Credit spreads may widen due to higher debt issuance in tech sector. By Davide Barbuscia.
Bank of America Corp. CEO Brian Moynihan says America's fixation on Federal Reserve rate moves has overshadowed the private sector's role in powering the economy, even as mounting political pressure raises fears over the central bank's independence.
* Fed minutes expected to show central bank divided on 2026 policy. * Dollar index poised for steepest annual drop in eight years. * China yuan breaches key level against dollar. By Dhara Ranasinghe and Ankur Banerjee.
* German 10-year bond yield rises ahead of Fed minutes. * Fed's December meeting showed disagreement on policy path. * ECB not expected to change rates soon. By Samuel Indyk.
* Fed minutes expected to show central bank divided on 2026 policy. * Dollar index poised for steepest annual drop in eight years. * Yen holds recent gains even as intervention worries lurk. By Ankur Banerjee.
Benchmark Japanese government bonds fell on Tuesday in the final trading day of a year that has seen the sharpest jump in yields in three decades on concerns about ?the nation's finances. JGBs have had a volatile year ?as the central bank scaled back its ?bond buying, inflation became entrenched and the government embraced a growth strategy based on massive fiscal stimulus.
* Fed minutes expected to show divided central bank on 2026 policy. * Dollar index poised for steepest annual drop in eight years. * Yen holds recent gains even as intervention worries lurk. By Ankur Banerjee.
U.S. President Donald Trump on ?Monday renewed ?his threat to ?bring a ?lawsuit against ?Federal Reserve Chair ?Jerome Powell ?for what he called "gross ?incompetence" ?related ?to Powell's management of renovations at the ?Fed's Washington headquarters.
The muni credit market has experienced headwinds this year, including "potential federal funding cuts, the impact of tariffs and sector-specific pressures," said Goldman Sachs (GS) strategists
Parliament in Moldova approved the 2026 budget on Monday with a deficit of 20.9 billion Moldovan lei, equivalent ?to $1.25 or 5.5% of gross domestic ?product. Members of the pro-European government's ?Party of Action and Solidarity ?ensured passage ?with 54 votes of 96 deputies in ?the chamber.
Financial stocks were decreasing in late Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each shedding about 0.4%. The Philadelphia Housing Index fell 0.7%, while the State Street Real Estate Select Sector SPDR ETF rose 0.2%. Bitcoin was down 0.6% at $87,330, and the yield for 10-year US Treasuries shed 2 basis points to 4.12%. In ec...
Financial stocks were decreasing in late Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each shedding about 0.4%. The Philadelphia Housing Index fell 0.7%, while the State Street Real Estate Select Sector SPDR ETF rose 0.2%. Bitcoin was down 0.6% at $87,330, and the yield for 10-year US Treasuries shed 2 basis points to 4.12%. In co...
Scotiabank on Monday provided a reminder of its 'Canadian Rates Outlook 2026', published earlier in December, in which it said that it expects the Bank of Canada to keep interest rates on hold at 2.25% over the first half of 2026 before switching its attention to implementing 50bps of policy tightening over the second half of it.
* BOJ report shows many board members saw need for rate hikes. * Fed minutes highlight thin data calendar. * US pending home sales jump. By Chuck Mikolajczak. The yen strengthened on Monday in light holiday trading, on track for its fifth gain in six sessions as markets weighed the timing of additional interest rate hikes in Japan and the ?chances of intervention.
Financial stocks were decreasing in Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each shedding about 0.5%. The Philadelphia Housing Index fell 0.8%, while the State Street Real Estate Select Sector SPDR ETF rose 0.2%. Bitcoin was down 0.2% at $87,494, and the yield for 10-year US Treasuries was shedding 2 basis points to 4.11%. In...
Financial stocks were decreasing in Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each shedding about 0.5%. The Philadelphia Housing Index fell 0.8%, while the State Street Real Estate Select Sector SPDR ETF rose 0.2%. Bitcoin was up 0.2% at $87,719, and the yield for 10-year US Treasuries was shedding 2 basis points to 4.11%. In c...
Moody's Ratings upgraded the Rhode Island Airport Corporation's airport revenue bonds for Providence's T.F. Green International Airport to A3 from Baa1.
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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