The truth is that nobody knows how the Iran conflict will evolve, said TD, adding that its working assumption is a short-lived conflict, but the bank remains ready to adjust. Even if the war proves short-lived, TD still thinks it will shave a bit from 2026 real gross domestic product growth as households face higher inflation and businesses see a bump in their input costs.
Outstanding loans in Brazil rose 0.4% in February from the previous month to 7.1 trillion reais, central bank data showed on Monday, with 12-month credit growth slowing to 9.6% from 10.1% in January.
* Protracted conflict shifts markets' focus to growth fallout. * Central banks walk tightrope; higher-for-longer rates expected UK two-year yield nearly up 100 bps in March. * Germany's up 69 bps, U.S. up 50 bps. By Rae Wee, Alun John and Gertrude Chavez-Dreyfuss.
Three negative outlooks and choppy market conditions weren't ideal conditions for a massive $2.6 billion bond issuance, which was trimmed to $2.3 billion.
Canada will release monthly real gross domestic product data on Tuesday at 8:30 a.m. ET, said Bank of Montreal. The bank noted that Canada's economy "stumbled out of the gate" to start the year, and BMO expects real GDP growth to come in flat in January. Auto production fell heavily as a model switch delayed assemblies, which should normalize in the coming months.
Canada will publish the gross domestic product for January on Tuesday at 8:30 a.m. ET, said RBC. In line with Statistics Canada's advance estimate, the bank expects GDP growth to have slowed to essentially flat in January after rising 0.2% month over month in December.
Federal Reserve Chair Jerome Powell on Monday said the U.S. central bank can wait to see how the Iran war affects the economy and inflation, noting that policymakers typically look through shocks such as those from higher oil prices.
Federal Reserve officials eager to keep inflation psychology in check and maintain control over prices face a challenge as household expectations rise alongside the cost of gasoline and doubt edges into bond markets in the form of rising yields on U.S. Treasury securities.
* Gold set for worst month in nearly two decades. * Brent crude set for record monthly gain. * Yemen's Houthis launch attacks on Israel. By Ishaan Arora. Gold rose more than 1% on Monday on bargain-hunting, but was set for its largest monthly decline in nearly two decades as rising oil prices due to the escalating war in the Middle East all but eliminated U.S. interest rate cut bets for the year.
Japan's underlying inflation rate may face stronger upward pressure from rising oil prices and the yen's declines than in the past as firms have become more active in hiking prices, the Bank of Japan said on Monday.
Mortgage rates are rising again, and Dave Ramsey is warning Americans that navigating today's housing market without professional help could be a costly mistake. The 30-year fixed-rate mortgage averaged 6.38% for the week ending March 26, according to Freddie Mac , up from 6.22% the prior week.
* Gold prices to remain volatile in near term, analyst says. * Gold down more than 14% so far this month. * Brent crude up 60% in March, biggest monthly rise ever. By Noel John. Gold rose on Monday on dip-buying, but gains were capped by a surge in energy prices that fuelled inflation worries and further dimmed expectations for U.S. Federal Reserve interest rate cuts this year.
U.S. consumers and importers take the vast majority of the financial hit from tariffs but trade volumes also suffer, resulting in a negative shock for exporters, too, a European Central Bank Economic Bulletin article said on Monday.
China's factory activity likely expanded in March - snapping a two-month contraction - amid strong momentum in goods exports, although supply chain shocks from the Iran war cloud the outlook. A Reuters poll of 28 economists projected that the official manufacturing purchasing managers' index would rise to 50.1 from 49.0 in February, just above the 50-mark separating expansion from contraction.
* Protracted conflict shifts market's focus to growth fallout. * Short-dated debt outperforms long-dated bonds on Monday. * Central banks walk tightrope; higher-for-longer rates expected. By Rae Wee. Global government bonds slid towards their biggest monthly losses in more than a year as investors weighed the risks from a prolonged war in the Middle East on inflation and growth.
ESPOO, Finland---- IQM Finland Oy, a global leader in full-stack superconducting quantum computers, today announced it has secured a ?50 million financing package from funds and accounts managed by BlackRock. This press release features multimedia.
* Gold prices to remain volatile in near term, analyst says. * Gold lost more than 15% so far this month. * Brent crude up 60% in March, biggest monthly rise ever. By Noel John.
* Gold prices to remain volatile in near term, analyst says. * Gold lost more than 14% so far this month. * Brent crude up 60% in March, biggest monthly rise ever. By Noel John. Gold prices edged up on Monday as the dollar softened, but gains were capped by a surge in energy prices that fuelled inflation worries and further dimmed expectations for U.S. Federal Reserve interest rate cuts this year.
* Japan may take 'decisive' step if speculative moves persist. * Warning by top currency diplomat an escalation from past remarks. * BOJ keeping close eye on yen moves, impact on economy, Ueda says. * BOJ debated scope for steady, faster rate hikes, summary shows. * One member warned of stagflation risk at March BOJ meeting. By Leika Kihara and Kentaro Sugiyama.
Gold prices fell more than 1% on
Monday, as a surge in energy prices fuelled inflation worries
and dampened expectations for U.S. Federal Reserve interest rate
cuts this year.
Benchmark Japanese government bonds slumped on Monday, sending yields to a near three-decade high, as the worsening Middle East conflict stoked inflation concerns and expectations for an early central bank interest rate hike. The benchmark 10-year JGB yield rose 2 basis points to 2.390%, a level not seen since February 1999.
Bank of Japan policymakers debated further rate hikes, with some flagging the chance of steady or faster-than-expected increases as the Middle East war drives up oil costs and stokes inflation, a meeting summary showed on Monday.
The Senate Banking Committee is planning to hold its hearing on the nomination of Kevin Warsh as chair of the Federal Reserve as soon as the week of April 13, Punchbowl News reported on Sunday, citing two sources familiar with the planning.
The Senate Banking Committee is planning to hold its hearing on the nomination of Kevin Warsh as chair of the Federal Reserve as soon as the week of April 13, Punchbowl News reported on Sunday, citing two sources familiar with the planning.
The European Central Bank is determined to prevent any energy-driven inflation from broadening out, but it is too early to discuss dates for possible interest rate hikes, French central bank chief Francois Villeroy de Galhau told Italy's La Stampa newspaper. "We are ready to act in this direction if needed," La Stampa quoted Villeroy as saying 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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