U.S. Federal Reserve officials who have largely accepted that artificial intelligence will lead to dramatic shifts in the economy are now struggling to understand the pace and extent of what's to come, with a divide emerging over its potential to impact the labor market and prices.
U.S. Federal Reserve officials who have largely accepted that artificial intelligence will lead to dramatic shifts in the economy are now struggling to understand the pace and extent of what's to come, with a divide emerging over its potential to impact the labor market and prices.
* British, German and U.S. two-year yields set for biggest two-day jump in many months. * Oil and gas jump fans inflation worries. * Traders slash bets on BoE easing this month, see small chance of ECB rate hike by year-end. By Alun John and Yoruk Bahceli.
Societe Generale in its early Tuesday economic news summary pointed out: -- Still risk off. -- Day ahead: Eurozone flash consumer price index. -- Nikkei -3.1%, EUR 10-year IRS +3.5bps at 2.768%, Brent crude +4.4% at $81.1/barrel, Gold +0.3% at $5,323/oz. MT Newswires does not provide investment advice.
The price of aluminium rose on Tuesday after Norsk Hydro's (NHYKF) joint venture in Qatar initiateda shutdown of its aluminium production, as the U.S. and Israeli war with Iran spilled into neighbouring countries. Benchmark aluminium on the London Metal Exchange was up 2.1% at $3,259 a metric ton by 1754 GMT after hitting a one-month high of $3,315.
Greece's jobless rate stood at 7.7% in January, down from an upwardly revised 7.9% in December, data from statistics service ELSTAT showed on Tuesday. Seasonally adjusted data showed 369,146 people were officially unemployed. Unemployment impacted women more than men, at the rates of 10.5% and 5.4%, respectively.
Paramount Skydance (PSKY) corporate and long-term borrowing rates were downgraded to junk status Monday by Fitch Ratings following its agreement to deal to buy Warner Bros. Discovery (WBD). Fitch lowered the company's short-term and long-term issuer default ratings and its senior unsecured debt, and placed all the ratings on rating watch negative status.
* German two-year yields set for biggest two-day jump in 10 months. * Oil jump fans inflation worries. * Traders see small chance of ECB rate hike by year-end. By Alun John. Government bond markets from Germany to the United States and Britain sold off sharply on Tuesday as the air war in the Middle East drove oil prices higher and rekindling inflation fears.
Russia's central bank said on Tuesday that it had submitted a claim to the Luxembourg-based General Court of the European Union, challenging a move made in December 2025 to freeze its assets in Europe indefinitely. The central bank estimates that about $300 billion of Russia's sovereign funds have been frozen by Western countries.
French central bank governor Francois Villeroy de Galhau said on Tuesday France's finance industry has a little exposure to the Middle East crisis. The French economy has a rather low inflation and resilient economic growth, Villeroy told reporters on Tuesday. He added it would be a mistake for the European Central Bank to make an interest rate decision based only on energy price swings.
Aluminium pared earlier gains to close lower on Tuesday, pressured by a stronger dollar as the U.S. and Israeli air war ?against ?Iran dragged on for the fourth day, widening the Gulf region into the conflict. The most-active aluminium closed daytime trading 0.58% lower at 23,905 yuan a metric ton, having risen 2.31% to 24,600 yuan earlier.
Japanese government bond yields jumped across the board on Tuesday, as concerns that a prolonged U.S.-Israeli war against Iran would stoke inflation via higher energy prices fuelled bets of an interest rate hike.
* Wall Street ends stable after choppy session. * Oil prices elevated as Iran vows to close Strait of Hormuz. * Korean benchmark plunges 7.2%, leads Asia declines. By Gregor Stuart Hunter. A selloff in stocks deepened and the dollar strengthened on Tuesday as investors considered the implications of U.S. and Israeli strikes on Iran on energy prices and the global economy.
* Yen moves remain key to BOJ's rate-hike timing. * Market volatility heightens hurdle for March rate hike. * Impact on economy, policy depends on how long conflict lasts. * Lack of hints from BOJ Himino reduces chance of imminent hike. * Markets still see good chance of BOJ hike in April. By Leika Kihara.
A prolonged war in the Middle East could cause a substantial spike in euro zone inflation and reduce economic growth, European Central Bank Chief Economist Philip Lane told the Financial Times in an interview published on Tuesday.
* S&P: SOFTBANK GROUP CORP. OUTLOOK REVISED TO NEGATIVE ON ADDITIONAL INVESTMENT IN OPENAI; 'BB+' RATINGS AFFIRMED. * S&P: THE LIQUIDITY OF SOFTBANK GROUP'S INVESTMENT PORTFOLIO WILL WORSEN BECAUSE OPENAI NOW ACCOUNTS FOR A BIGGER SHARE OF IT. * S&P: SOFTBANK GROUP'S CREDITWORTHINESS OF INVESTMENT ASSETS WILL ALSO LIKELY DETERIORATE.
Aluminium extended gains on Tuesday as fresh Middle East tensions, including Iran's effective closure of the Strait of Hormuz, fuelled shipment uncertainty and heightened supply-risk concerns. The most-active aluminium on the Shanghai Futures Exchange rose 1.37% to 24,375 yuan a metric ton as of 0255 GMT. The benchmark three-month copper on the London Metal Exchange gained 1.05% to $3,228 a ton.
* Wall Street ends stable after choppy session. * Oil prices elevated as Iran vows to close Strait of Hormuz. * Korean benchmark tumbles 4.1%, lead Asia declines. By Gregor Stuart Hunter. SINGAPORE, March 3 - A selloff in stocks deepened on Tuesday and the dollar strengthened as investors considered the implications of U.S. and Israeli strikes on Iran on energy prices and the global economy.
U.S. Treasuries just clocked their best month in a year. The joint U.S.-Israeli attack on Iran on Saturday, in which Supreme Leader Ayatollah Ali Khamenei was killed, marked a dramatic escalation in regional tensions. Both of these moves accelerated sharply in early trading on Monday.
The U.S. dollar posted sharp gains on Tuesday, hitting multi-month peaks against the euro, sterling and yen as tensions in the Middle East fuelled expectations of prolonged global inflation and triggered broad demand for safe-haven assets. A jump in crude prices has pushed traders to re-evaluate the likelihood and timing of interest rate cuts by major central banks.
US equity indexes closed mixed, government bond yields jumped, and volatility retreated on Monday as the US and Israel continued their hostilities against Iran. The Nasdaq Composite rose 0.4% to 22,748.86, clawing back earlier declines. Energy and technology were among the gainers, while consumer staples and consumer discretionary led the decliners.
* TSX ends up 0.6% at 34,541.27. * Energy sector adds 1.8% as oil settles 6.3% higher. * Cameco (CCJ) rises 6.5% after uranium supply deal with India. * Factory PMI rises to highest level since January 2025. By Fergal Smith. Canada's energy-linked main stock index rose to a record high on Monday, led by energy shares as oil prices rose following the weekend's attacks on Iran by the U.S. and Israel.
First thing this morning, there wasn't much action as market participants waited to see what would happen, but as the day went on, munis got progressively weaker, said Kyle Gerberding, director of trading, a portfolio manager and partner at Asset Preservation Advisors.
KBRA assigns a long-term rating of BBB+ to the following series of City of Chicago, IL General Obligation Bonds: Concurrently, KBRA affirms the BBB+ rating on the City's outstanding General Obligation Bonds. The City of Chicago?s deteriorating fund balance, narrowing liquidity, and exceptionally high and rising fixed cost burden led to its recent Feb 25, 2026 downgrade.
US equity indexes were mixed Monday as government bond yields rose amid continued conflict in the Middle East. * The Institute for Supply Management's US manufacturing index dropped to 52.4 in February from 52.6 in January, versus expectations for 51.5 according to a Bloomberg-compiled survey.
Market Intelligence analyst Jeff Lipton assesses the early impacts of Operation Epic Fury on rates, spreads, shifting inflation expectations, and flows, arguing that elevated tax-exempt income, disciplined sector allocation and a quality bias can help muni investors navigate headline-driven volatility.
Growth in the US manufacturing sector slowed in February sequentially amid demand and production softness, two separate surveys showed Monday. The Institute for Supply Management's purchasing managers' index ticked down to 52.4 last month from 52.6 in January.
* Oil prices settle up sharply on supply concerns due to US-Iran war. * Gold prices jump, Treasury yields rise. * Wall Street indexes pare losses, Europe underperforms. * Dollar gains against major currencies. By Sin?ad Carew and Alun John.
US equity indexes traded mixed in midday trading on Monday, while government bond yields jumped as the US and Israel continued their hostilities against Iran. The Nasdaq Composite rose 0.2% to 22,721.7, while the Dow Jones Industrial Average declined 0.2% to 48,880.9. The S&P 500 was little changed at 6,874.56. Energy, technology, and industrials were the only gainers.
Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF easing 0.1%. The Philadelphia Housing Index was falling 2.3%, and the State Street Real Estate Select Sector SPDR ETF was down 0.1%. Bitcoin was increasing 4.9% to $68,980, and the yield for 10-year US Treasuries rose 9 basis points to 4.05...
Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index decreasing 0.6% and the State Street Financial Select Sector SPDR ETF easing 0.1%. The Philadelphia Housing Index was falling 2.3%, and the State Street Real Estate Select Sector SPDR ETF was down 0.1%. Bitcoin was increasing 4.9% to $68,980, and the yield for 10-year US Treasuries rose 9 basis points to 4.05...
* Manufacturing PMI little changed at 52.4 in February. * Steel, aluminum prices as well as tariffs drive up input costs. * Factory employment remains subdued; businesses not filling open positions. By Lucia Mutikani.
AM Best affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of ?aa+? of Transatlantic Reinsurance Company and its subsidiaries.
US equity indexes were mixed while government bond yields rose in midday trading on Monday amid the US- and Israel-led war on Iran. The Nasdaq Composite rose 0.3% to 22,739.1, while the Dow Jones Industrial Average declined 0.2% to 48,891.65. The S&P 500 slipped less than 0.1% to 6,880.1. Energy, technology, and industrials were the only gainers.
Bank of Canada Governor Tiff Macklem is back again for another fireside chat, this time at Toronto's Global Risk Institute on Wednesday, said Scotiabank. The governor has preached patience to date as complex supply and demand forces upon the inflation outlook are assessed, noted the bank.
Canadian real gross domestic product contracted by 0.6% quarter-over-quarter in Q4 on an annualized basis versus the consensus for 0.2% decline, said UBS. Friday's GDP report was held down by an inventory drawdown as consumption improved, wrote the bank in a note to clients.
* Oil prices up sharply on supply concerns due to US-Iran war. * Gold prices jump, Treasury yields rise. * Wall Street indexes pare losses, Europe underperforms. * Dollar gains against major currencies. By Sin?ad Carew and Alun John.
* Central bank plans likely unchanged for now despite oil price pressures, Treasury chief says. * Higher oil prices boost Brazil's revenue from royalties and Petrobras dividends. * Brazil's real has strengthened, offsetting inflation from oil price hikes. By Marcela Ayres.
The Institute for Supply Management's US manufacturing index declined to 52.4 in February from 52.6 in January, compared with expectations for a 51.5 reading in a survey compiled by Bloomberg. There were declines in the readings for new orders and production, but increase in employment, inventories, supplier deliveries, order backlogs and prices.
U.S. manufacturing activity grew steadily in February, but a gauge of prices at the factory gate raced to a near 3-1/2-year high amid tariffs, highlighting upside risks to inflation even before a U.S.-led attack on Iran sent oil prices rocketing.
U.S. manufacturing activity expanded steadily in February, but a measure of prices paid by factories for inputs rose to the highest level in nearly 3-1/2 years, highlighting upside risks to inflation amid import tariffs even before a U.S.-led attack on Iran sent oil prices higher.
New Orders Growing; Production Growing; Employment Contracting; Supplier Deliveries Slowing; Raw Materials Inventories Contracting; Customers' Inventories Too Low; Prices Increasing; Imports Growing; Exports Growing TEMPE, Ariz. The report was issued today by Susan Spence, MBA, Chair of the Institute for Supply Management?? Manufacturing Business Survey Committee.
There was both good and bad in Friday's Canadian gross domestic product data, said Rosenberg Research, adding that at the margin, however, still more of the latter and less of the former. The economy contracted at a 0.6% annual rate in Q4, slightly worse than the 0.2% consensus decline forecast, noted Rosenberg Research.
The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers' Index, a composite index designed to provide an overview of the health of the manufacturing sector, registered 51.0 in February, up from 50.4 in January and slightly above the crucial 50.0 no-change threshold, said S&P Global on Monday.
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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