Brazilian economists trimmed expectations for monetary easing this year after policymakers kicked off an interest rate-cutting cycle last week with a 25-basis-point reduction to 14.75%, a weekly central bank survey showed on Monday.
Euro area government bond yields sharply reversed their rise on Monday after President Donald Trump said he will order the U.S. military to postpone any strikes against Iranian power plants and energy infrastructure for five days. Expectations for an end of the Middle East conflict eased inflation fears and saw investors scale back their bets on future European Central Bank rate hikes.
Ormat Technologies, Inc. (ORA) today announced the closing of its previously announced private offering of $1 billion aggregate principal amount of convertible senior notes, including the full exercise of the initial purchasers? option to purchase additional notes.
TD said last week's data releases and the Bank of Canada statement described a world that could have been, with a domestic backdrop showing easing inflation. The war in Iran has upended that, noted the bank. It is unfortunate that households and businesses will face this new pinch because Friday's retail sales data in Canada sent some positive signals, stated TD.
The US dollar was mixed against its major trading partners early Monday -- up versus the pound and Canadian dollar, down versus the euro and yen -- ahead a lighter data week, starting with the Chicago Federal Reserve's national activity index for February at 8:30 am ET, construction spending for January at 10:00 am ET and the Atlanta Federal Reserve's GDP nowcast reading around midday.
Brazil central bank poll: * BRAZIL ECONOMISTS SEE ANNUAL IPCA INFLATION INDEX REACHING 4.17% IN 2026 VERSUS 4.10% IN PREVIOUS ESTIMATE - CENBANK POLL. * BRAZIL ECONOMISTS SEE ANNUAL IPCA INFLATION INDEX REACHING 3.80% IN 2027 VERSUS 3.80% IN PREVIOUS ESTIMATE - CENBANK POLL. * BRAZIL ECONOMISTS SEE YEAR-END 2026 INTEREST RATE SELIC AT 12.50% VERSUS 12.25% IN PREVIOUS ESTIMATE - CENBANK POLL.
* FTSE 100 down 2.4%, FTSE 250 down 3.2% * FTSE 100 down about 11% since Middle East conflict began. * Miners lead declines as gold hits four-month low. * Spire Healthcare falls after buyout talks collapse.
Statistics Canada's advance estimate for retail sales points to a 0.9% month-over-month nominal increase in February retail sales, said National Bank of Canada. With goods prices rising only modestly in the February consumer price index report, this implies a "solid" gain in real terms, noted the bank.
* Gold falls to lowest level since November. * Silver, platinum at lowest since mid-December. * Oil prices hold above $110/bbl. * Market bets on Fed rate hike increases. By Ishaan Arora and Pablo Sinha.
The yen has held up better than most other G10 currencies against the US dollar overnight Sunday, with USD/JPY continuing to trade just below the 160.00 level, said MUFG. The yen has been supported by further verbal intervention from Japanese policymakers, wrote the bank in a note to clients.
* Gold down for 9th straight session after worst week in 43 years. * Silver, platinum lowest since mid-December. * Iran vows to hit Gulf infrastructure if US strikes power grid. * Market bets on Fed rate hike this year surge. By Noel John.
Japan's upper house of parliament approved on Monday Prime Minister Sanae Takaichi's choice of two like-minded monetary doves to join the central bank board, a move that could influence its decision on the timing and pace of further interest rate hikes.
Goldman Sachs (GS) said on Monday it expects the European Central Bank to deliver two 25 basis point interest rate hikes in April and June, joining peers J.P.Morgan and Barclays as policymakers signal inflation risks driven by the Middle East war. The brokerage previously expected the central bank to maintain rates steady throughout this year.
* Gold down for 9th straight session after worst week in 43 years. * Silver, platinum post sharp declines. * Iran vows to hit Gulf infrastructure if US strikes power grid. * Market bets on Fed rate hike this year surge. By Noel John.
* Japan says ready to counter forex volatility. * IEA's Birol warns crisis worse than 1970s oil shocks. * Central banks turn hawkish due to inflation concerns. By Rocky Swift. The dollar rose on Monday as escalating retaliatory threats in the Middle East conflict curbed risk appetite and lifted demand for safe-haven assets.
* Japan says ready to counter forex volatility. * IEA's Birol warns crisis worse than 1970s oil shocks. * Central banks turn hawkish due to inflation concerns. By Rocky Swift. TOKYO, March 23 - The dollar rose on Monday as escalating retaliatory threats in the Middle East conflict curbed risk appetite and lifted demand for safe-haven assets.
Copper slid to over three-month lows on Monday, with fresh escalation in the Middle East war keeping oil prices high after the U.S. and Iran traded threats.
For decades, New Zealand has relied on inflating the housing market to engineer a recovery during downturns, but the playbook has failed this time, putting policymakers in a quandary just as the Middle East war adds a new layer of uncertainty.
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.
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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