Federal Reserve Chair Jerome Powell on Saturday lauded former Fed Chair Paul Volcker's "willingness to resist" political pressure as he fought inflation in the 1980s, remarks that have particular resonance as Powell presses his own defense of the Fed's independence amid the Trump administration's efforts to get him to lower rates.
Investors are gradually extending duration within the front end of the Treasury curve, shifting from ultra-short, cash-like exposures toward targeted-duration strategies in search of higher yields. "Investors are buying short duration U.S. Treasury ETFs because they provide safety, liquidity, attractive yields, and low-interest rate volatility.
Brazil's central bank on Friday said it will offer up to $2 billion in a dollar auction with repurchase agreement on Monday. In a statement, the central bank said the auction will start at 10:30 a.m. local time, and aims to roll over contracts maturing in April.
By Ann Saphir. Market pricing for a U.S. Federal Reserve interest-rate hike this year has shot up, and is now seen as far more likely than a rate cut. On Friday, interest-rate futures were pricing around a 25% chance of a rate hike by December, based on the CME FedWatch tool.
* Middle East conflict makes central banks cautious. * Euro, yen, sterling gain against dollar as energy prices rise. * Investors pare expectations for Fed rate cuts. By Chibuike Oguh and Samuel Indyk.
* Major brokerages see greater chance of hikes for BoE and ECB this year. * Markets starting to price in potential for Fed hikes. * Oil prices settle at highest level in nearly four years. By Chuck Mikolajczak.
While it's unclear how long the war in the Middle East will drag on, once President Donald Trump announces an end to the war, things could change "on a dime," as happened with the tariff-induced volatility in April 2025, said Peter Block, managing director of credit strategy at Ramirez.
US equity indexes closed lower on Friday as crude oil prices rose again, along with government bond yields, while expectations for a Fed rate hike increased. * The US is considering plans to occupy Iran's Kharg Island, vital to its oil exports. * The Federal Reserve Bank of St. Louis now forecasts Q1 US GDP growth of 1.69%, down from an earlier estimate of a 2.05% gain.
Financial stocks were mixed Friday with the NYSE Financial Index declining 1.2% and the State Street Financial Select Sector SPDR ETF gaining 0.2%. The Philadelphia Housing Index fell 2.2%, and the State Street Real Estate Select Sector SPDR ETF slumped 3.1%. Bitcoin eased 0.1% to $69,852, and the yield for 10-year US Treasuries jumped 11 basis points to 4.39%. In economic news, the Federal Res...
RBC Capital Markets said the Bank of Canada emphasized a weak starting point for the Canadian economy in allowing it to be patient in assessing the broader impact of higher energy prices. In foreign exchange, USD/CAD faces opposing forces from the USD and crude oil prices in the current environment, RBC expects the USD to be the main driver, with crude oil prices acting as a partial offset.
* US to deploy more troops to Middle East, pushing oil prices up. * Iran attacks Kuwait oil refinery, adds to market stress. * Inflation swaps show higher consumer prices in next 12 months. * US rate futures start to price in rate hike. By Gertrude Chavez-Dreyfuss.
United Airlines Holdings Inc (UAL) shares are trading lower Friday afternoon as investors digested a sharp escalation in Middle East tensions that pushed oil prices higher, lifted Treasury yields and intensified fears of a stagflationary shock to the broader economy.
Government bond?yields in the United States and Europe spiked on Friday as investor concern intensified over the inflationary impact of the Iran war-driven global energy shock, with expectations that the pressure will not ease anytime soon. Investors are rapidly recalibrating the ability of central banks globally to ease monetary policy the longer the war goes on.
* Major brokerages see greater chance of hikes for BoE and ECB this year. * Markets starting to price in potential for Fed hikes. * Oil prices remain choppy. By Chuck Mikolajczak.
* US dollar and Treasury yields extend gains. * Silver, platinum and palladium head for weekly fall. By Ashitha Shivaprasad. Gold prices fell by 1.8% on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
The Russell 2000 index dropped 10% from its record-high close in January, putting it on track for a correction on Friday, as renewed inflation fears stemming from the Middle East conflict eroded expectations of U.S. rate cuts this year. The economically sensitive small-cap index dropped 2% to 2,442.75 points on Thursday.
Market pricing for a U.S. Federal Reserve interest-rate hike this year has shot up, and is now seen as far more likely than a rate cut. On Friday, interest-rate futures were pricing around a 25% chance of a rate hike by December, based on the CME FedWatch tool.
KBRA assigns a long-term rating of AA+ to the City of New York General Obligation Bonds, Fiscal 2026 Series F and G, and General Obligation Bonds, Fiscal 2026 Series 1. The Outlook is Negative. Concurrently, KBRA affirms the long-term rating of AA+ on outstanding City of New York General Obligation Bonds, and revises the Outlook to Negative from Stable.
Financial stocks were mixed in Friday afternoon trading, with the NYSE Financial Index down 0.5% and the State Street Financial Select Sector SPDR ETF adding 0.7%. The Philadelphia Housing Index fell 2%, and the State Street Real Estate Select Sector SPDR ETF dropped 1.6%. Bitcoin was easing 0.1% to $69,833, and the yield for 10-year US Treasuries climbed 9.1 basis points to 4.37%. In economic ...
"Looking at where oil was and the potential for disruption, and this being tax season and issuers having to pull deals, there's no reason why yields wouldn't have been higher," said Matt Fabian, president of Municipal Market Analytics.
Financial stocks were mixed in Friday afternoon trading, with the NYSE Financial Index down 0.5% and the State Street Financial Select Sector SPDR ETF adding 0.7%. The Philadelphia Housing Index fell 2%, and the State Street Real Estate Select Sector SPDR ETF dropped 1.6%. Bitcoin was easing 0.1% to $69,833, and the yield for 10-year US Treasuries climbed 9.1 basis points to 4.37%. In corporate...
* Indexes off: Dow 0.46%, S&P 500 0.71%, Nasdaq 0.99% * Trump mulls Kharg Island takeover, additional troop deployment. * Main indexes on track for fourth straight weekly loss. * FedEx (FDX) up on strong forecast; Energy stocks gain. By Johann M Cherian and Utkarsh Hathi.
* G7 economies face energy shock, inflation risks. * Gulf region impacted directly, may see economic contraction this year. By Yoruk Bahceli and Marc Jones. Any prolongation of the Iran war risks creating an unprecedented crisis in energy supplies that sooner or later will hit every corner of the global economy.
Federal Reserve Governor Christopher Waller said Friday he was planning to vote against the central bank?s decision to hold rates steady this week after February?s jobs report showed 92,000 payroll losses. ?I thought that?s it, I?m dissenting,? Waller told CNBC?s Squawk Box.
Carnival said Friday it will voluntarily delist its 1.000% senior unsecured notes due 2029 from the New York Stock Exchange and its 7.875% debentures due 2027 from the London Stock Exchange, as part of its previously announced restructuring.
* Middle East conflict makes central banks cautious. * Euro, yen, sterling gain against dollar as energy prices rise. * Fed not expected to raise rates this year. By Chibuike Oguh and Samuel Indyk.
MIAMI, March 20, 2026 ?Carnival plc (CUK) announced today its intention to voluntarily delist its 1.000% Senior Unsecured Notes due 2029 from the New York Stock Exchange.
* Euro zone bond yields hit 15-year high as inflation fears grow. * ECB and BoE rate hikes likely in April, markets show. * Energy importers like Italy face greater bond yield pressure. * Spain proposes 5-billion euro package to cushion energy impact. By Amanda Cooper.
President Donald Trump has spent months aggressively pushing Federal Reserve Chairman Jerome Powell to cut interest rates. A rate hike. Short-term interest-rate futures are now pricing chances of a Federal Reserve rate hike before the end of the year. The Iran war has not just reversed that assumption ? it has flipped it.
* Major brokerages see greater chance of hikes for BoE and ECB this year. * Markets starting to price in potential for Fed hikes. * Oil prices remain choppy. By Chuck Mikolajczak.
* US dollar and Treasury yields extend gains. * Silver, platinum and palladium head for weekly fall. By Ashitha Shivaprasad. Gold prices fell nearly 2% on Friday as the dollar strengthened after reports that the U.S. will deploy thousands of additional troops in the Middle East, further fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
Some states and local governments "went on spending sprees" with pandemic funds and "got ratings upgrades that didn't have a lot to do with fiscal management," said an investor.
* Fed officials express caution due to Iran war's impact on energy prices. * Bowman advocates for more interest rate cuts to support labor market. * Iran war uncertainty affects Fed's economic, policy outlook. By Michael S. Derby and Howard Schneider.
* Indexes off: Dow 0.24%, S&P 500 0.71%, Nasdaq 1.17% * Trump mulls Kharg Island takeover, report says. * Main indexes on track for fourth-straight weekly loss. * FedEx (FDX) up on strong forecast; Amazon (AMZN) plans smartphone comeback. By Johann M Cherian and Utkarsh Hathi.
Bitcoin is back at $70,000 on weakening bullish momentum, setting up a key test for its next move. Prominent analyst Trader Mayne on Friday said rising geopolitical tensions and the aftermath of recent Federal Reserve policy decisions are driving volatility across crypto markets. He noted that macro conditions remain critical.
Kraft Heinz Canada said on Friday it will invest C$250 million to modernize its Montreal-based manufacturing plant, as the company looks to ramp up production of its staple food products in the region.
Traders of short-term interest-rate contracts on Friday priced in a better-than-even chance of a Federal Reserve interest-rate hike in December, a dramatic shift from expectations earlier this week of a rate cut.
On behalf of Price Holdings LLC, a Price Brothers affiliate, Northmarq has secured a $512 million Freddie Mac credit facility to refinance and recapitalize a 13?property multifamily portfolio spanning the Kansas City and Dallas metro areas. ?In today?s competitive and ever-changing multifamily markets, sponsors need certainty of execution and optionality more than ever,? said Duvall.
Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that the U.S. central bank is taking another look at what went wrong with Silicon Valley Bank three years ago. "What happened there was really a failure of supervision and a failure of bank management," Bowman said in an interview on Fox Business Network's "Mornings with Maria".
Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that the U.S. central bank is taking another look at what went wrong with Silicon Valley Bank three years ago. "What happened there was really a failure of supervision and a failure of bank management," Bowman said in an interview on Fox Business Network's "Mornings with Maria".
* Spot gold hit its lowest level since February 2 on Thursday. * Silver, platinum and palladium head for weekly fall. By Ashitha Shivaprasad. Gold prices firmed on Friday but remained on course for a third consecutive weekly decline, due to expectations of a hawkish stance from major central banks amid inflationary risks spurred by the Middle East conflict.
Gold rose off a two-month low early Friday, rebounding despite a higher dollar, rising treasury yields and dimming hopes for lower interest rates. Gold for April delivery was last seen up $69.60 to US$4,675.60 per ounce, after falling to the lowest since Jan. 16 a day earlier.
Brazil's former Finance Minister Fernando Haddad said on Friday that President Luiz Inacio Lula da Silva has yet to choose candidates for two vacant seats on the central bank's board, and that he does not know what criteria will guide the picks.
U.S. equity funds witnessed the largest weekly net sales in nearly 2-1/2 months in the week to March 18 as expectations of higher oil prices, a hotter-than-expected inflation reading and the Federal Reserve's cautious stance dampened hopes for rate cuts this year.
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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