By Mike Dolan. What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets After a dreary, war-filled six weeks, global stocks are once again at record highs. I'll get into that and more below. SIX-WEEK ROUNDTRIP Global stocks are rallying as investors refocus on how the tech sector and wider global economy have absorbed the impacts of the Iran war.
* European earnings expected to be firm in first quarter. * Energy costs, supply chain disruptions among full year risks. * Energy companies seen performing well in quarter. * Consumer, luxury firms could suffer from inflation pressures. By Javi West Larra?aga and Ozan Ergenay.
The prospect of a smooth-and-on-time transition to U.S. President Donald Trump's pick for the next Federal Reserve chief, Kevin Warsh, looks increasingly to be on shaky ground, setting up a possible clash over who runs things in the meantime.
* Senate confirmation hearing for Fed chief nominee Warsh set for April 21. * Powell's term as head of US central bank ends on May 15. * Key Republican senator has vowed to block Warsh confirmation until probe into Powell ends. * Powell says he'll fill any leadership gap as 'pro tem' Fed chair. * Trump threatens to fire Powell if he stays on; president's right to do so is contested. By Ann Saphir.
Walker & Dunlop (WD) said late Wednesday it has arranged $1.72 billion in financing to refinance nearly 13,000 workforce and affordable housing units across 52 properties in 10 US states for Starwood Capital Group. The loans were originated through Freddie Mac and support assets owned by Starwood Real Estate Income Trust, which acquired the portfolio in 2021, the company said.
BEIJING, April 16, 2026 The National Bureau of Statistics released economic data for the first quarter of the first year of the 15th Five-Year Plan period on Thursday, showing that China's GDP grew by 5.0 percent year-on-year, with major macroeconomic indicators rebounding and new growth drivers emerging rapidly, marking a good start for the national economy.
Uncertainty over the economic outlook for Switzerland has risen due to the conflict in the Middle East and global developments pose the main risk for inflation, minutes of the Swiss National Bank's latest rate-setting meeting showed on Thursday. "The main risk to the economic and inflation outlook for Switzerland stems from developments in the global economy," the central bank said in a statement.
Sterling rose slightly on Thursday after data showed the British economy grew rapidly in February and markets waited for more news about a possible peace deal in the U.S.-Iran war. The pound was last up 0.1% at $1.3575. The euro slipped against the British currency and was down 0.1% at 86.94 pence.
The Bank of England was "not going to rush to judgements" on interest rate rises, Governor Andrew Bailey told BBC News, as global central banks contend with an energy price shock driven by the Iran war.
* UK GDP rises 0.5% in February, much more than forecast. * Data suggest UK economy was in slightly better shape than feared. * But Iran war spoils outlook, with Britain vulnerable to fallout. * UK GDP set for another strong Q1, stoking data adjustment concerns. * ONS says it is confident in quality of its figures. By Andy Bruce.
Britain's economy grew by a better-than-expected 0.5% in the three months to February, official figures showed on Thursday. Economists polled by Reuters had forecast 0.2% growth in gross domestic product for the December-February period compared with the previous three months.
South Korean Finance Minister Koo Yun-cheol will hold a meeting with U.S. Treasury Secretary Scott Bessent on Friday, the Yonhap News Agency reported. Here are some details: * The two ministers will meet on the sidelines of the Group of 20 finance ministers and central bank governors meeting in Washington, D.C., Koo told reporters, according to Yonhap.
* US optimistic about deal with Iran. * Dollar, US Treasury yields ease. * Traders see 29% chance of US rate cut in December. By Noel John. Gold prices rose on Thursday, supported by a weaker dollar and lower U.S. Treasury yields, as investors grew optimistic about a potential end to the Middle East war, which has stoked fears of higher inflation.
The Bank of Japan will raise its benchmark rate to 1.00% by end-June, with nearly two-thirds of economists in a Reuters poll predicting the move, and a hike this month or in June seen as equally likely amid uncertainty over the fallout from the Iran war.
* Japan, U.S. finance leaders met, discussed markets including FX. * Katayama says no discussion with Bessent on BOJ policy. * Many central banks appeared to favour wait-and-see stance. By Leika Kihara. Japan and the U.S. agreed to strengthen communication on exchange rates, Japanese Finance Minister Satsuki Katayama said after her meeting with U.S. Treasury Secretary Scott Bessent on Wednesday.
Japan and the U.S. agreed to strengthen communication on exchange rates, Japanese Finance Minister Satsuki Katayama said after her meeting with U.S. Treasury Secretary Scott Bessent on Wednesday.
* China's Q1 GDP growth picks up to 5.0% from Q4's 4.5% * Retail sales growth and industrial output cool in March. * Iran war raises growth risks, set to test policymaking. * More fiscal stimulus expected if exports falter. By Kevin Yao and Claire Fu.
China's industrial output rose 5.7% in March from a year earlier, slowing from 6.3% growth in January-February, as the fallout from the Iran war dampened momentum in the world's second-largest economy. The output data released by the National Bureau of Statistics beat expectations for a 5.5% rise in a Reuters poll of 36 analysts.
China's economy grew 5.0% in the first quarter from a year earlier, official data showed on Thursday, beating analysts' expectations as policymakers brace for the fallout from the Iran war. Analysts polled by Reuters had forecast the January-March quarter gross domestic product would expand 4.8% from a year earlier, compared with a 3-year low of 4.5% in the fourth quarter.
Australian employment rose broadly in line with expectations in March, while the jobless rate stayed low, but a war-driven global energy shock could test the labour market's resilience soon.
China's new home prices extended their decline in March, official data showed on Thursday, although major cities showed some month-on-month improvement. Weak demand continued to weigh on the property market.
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Japan's yield curve steepened on Thursday as expectations of an imminent interest rate hike by the central bank diminished, while concerns over the Middle East crisis weighed on the economic outlook.
S&P Global Ratings on Thursday lowered its issuer credit rating for the Australian Securities Exchange to "A+/A-1" from "AA-/A-1+", two weeks after a local regulator flagged governance and risk management failures at the stock exchange operator.
* Goldman's fixed-income, currencies and commodities division posted a 10% drop in Q1 revenue. * FICC division hit by slowdown in interest rate trading, mortgages and credit products. * JPMorgan (JPM), Citigroup (C) and Morgan Stanley (MS) posted strong FICC gains. By Saeed Azhar.
Japan and the U.S. agreed to intensify communication on exchange rates, Japanese Finance Minister Satsuki Katayama said after her meeting with U.S. Treasury Secretary Scott Bessent on Wednesday. Katayama, who is visiting Washington for the International Monetary Fund meeting as well as gatherings of the G7 and G20 finance leaders, made the remark on her X account.
Japan and the U.S. agreed to intensify communication on exchange rates, Japanese Finance Minister Satsuki Katayama said after her meeting with U.S. Treasury Secretary Scott Bessent on Wednesday. Katayama, who is visiting Washington for the International Monetary Fund meeting as well as gatherings of the G7 and G20 finance leaders, made the remark on her X account.
The number of Japanese firms that do not want the Bank of Japan to raise interest rates has risen sharply since the start of the year as the Iran war clouds the outlook for global growth and corporate earnings, a Reuters survey showed on Thursday.
* China's Q1 GDP growth forecast at 4.8%, picking up from Q4's 4.5% * Iran war raises growth and inflation risks, set to test policymaking. * March data to show slower factory output, retail sales. * Measured stimulus expected in 2026 as China targets 4.5-5% growth. * Q1 GDP, March data due 0200 GMT on Thursday. By Kevin Yao.
* Government to include larger share of court-ordered debt in fiscal target than required. * Effective primary surplus for 2027 projected at 0.1% of GDP due to off-target payments. * Gross public debt forecast to peak at 87.8% of GDP in 2029, then decline. By Marcela Ayres.
abrdn National Municipal Income
Fund (VFL): * ABRDN NATIONAL MUNICIPAL INCOME FUND ANNOUNCES REMOVAL OF NON-FUNDAMENTAL INVESTMENT POLICY RESTRICTING INVESTMENTS IN HIGH-YIELD MUNICIPAL SECURITIES. * abrdn National Municipal Income
Fund (VFL) - POLICY REMOVAL EFFECTIVE JUNE 1, 2026.
PHILADELPHIA, April 15, 2026 abrdn National Municipal Income Fund announces that the Board of Trustees has approved the removal of a non-fundamental investment policy that restricted VFL from investing more than 20% of its portfolio in high-yield municipal securities.
Federal Home Loan Mortgage Corp (FMCC) : * FREDDIE MAC MULTIFAMILY ANNOUNCES LAUNCH OF INTEGRATED CONVENTIONAL SMALL PRODUCT FOR LOANS UNDER $10 MILLION. * FREDDIE MAC - CONVENTIONAL SMALL LOAN APPLICATIONS EFFECTIVE IMMEDIATELY; TWO-WEEK TRANSITION FOR PRIOR PROGRAM Source text: Further company coverage:
The approach currently adopted by Brazil's central bank of operating with caution amid rising uncertainties, which includes the U.S.-Israeli war on Iran, has paid off, Nilton David, the bank's monetary policy director, said on Wednesday.
The European Central Bank is in a "relatively favorable" position on monetary policy after having successfully brought down inflation to 2% before the war in the Middle East started, ECB board member Isabel Schnabel said on Wednesday.
Fitch: * FITCH REVISES DOMINICAN REPUBLIC'S OUTLOOK TO STABLE; AFFIRMS IDR AT 'BB-' * FITCH: DOMINICAN REPUBLIC OUTLOOK REVISION REFLECTS GROWING HEADWINDS TO GROWTH, INFLATION, PUBLIC FINANCES & EXTERNAL ACCOUNTS FROM HIGHER OIL PRICES Source text: Further company coverage: [ ]
The S&P 500 and the Nasdaq both logged record closing highs on Wednesday as investors assessed developments in the U.S.-Iran conflict and turned their focus to corporate earnings. Here are a few articles I recommend to help you make sense of what happened in markets today. 1. U.S. President Donald Trump said the war on Iran was nearing its conclusion amid a diplomatic push to continue peace talks.
Most Federal Reserve districts saw growth in economic activity since early March despite hostilities in the Middle East, the US central bank said in its latest Beige Book released Wednesday.
Brazil's government on Wednesday proposed a primary surplus target of 0.5% of gross domestic product for 2027 in its budget guidelines bill, confirming a figure previously signaled.
"Some of it is related to the headlines that we're seeing right now, particularly when we think about yields and what we've seen over the last couple of days," said Tim Iltz, fixed-income credit and market analyst at HJ Sims.
Freddie Mac Multifamily today announced the availability of an integrated, streamlined Conventional Small lending product under its core Conventional lending platform. Loans under $10 million play a critical role in the affordable housing ecosystem, especially for workforce housing.
The approach currently adopted by Brazil's central bank of operating with cautiousness amid rising uncertainties, which includes the U.S.-Israeli war on Iran, has paid off, Nilton David, the bank's monetary policy director, said on Wednesday.
Financial stocks were mixed in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.1% and the State Street Financial Select Sector SPDR ETF adding 0.9%. The Philadelphia Housing Index was falling 2%, and the State Street Real Estate Select Sector SPDR ETF was decreasing 0.1%. Bitcoin was rising 1.5% to $75,233, and the yield for 10-year US Treasuries increased 2.5 basis p...
Financial stocks were mixed in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.1% and the State Street Financial Select Sector SPDR ETF adding 0.9%. The Philadelphia Housing Index was falling 2%, and the State Street Real Estate Select Sector SPDR ETF was decreasing 0.1%. Bitcoin was rising 1.5% to $75,233, and the yield for 10-year US Treasuries increased 2.5 basis p...
* US-Iran talks could resume soon, officials say. * Adding duration to bond portfolio makes sense, analyst says. * Oil flows will not normalize anytime soon, analyst says. * US 2/10 yield curve bear steepens. By Gertrude Chavez-Dreyfuss.
The Bank of Japan can see through inflationary pressures from the war in the Middle East as any second-round effects on broader prices will be limited, Rahul Anand, the International Monetary Fund's mission chief for Japan, told Reuters on Wednesday.
* IMF's mission chief for Japan sees limited second-round effect on prices from Iran war. * Inflation to converge toward BOJ target by end of 2027, Rahul Anand says. * No big pass-through on inflation from weak yen was seen in 2025, he says. * Anand says weak yen absorbed tariff shock, levels must be set by markets. By Leika Kihara.
Brazilian meatpacker Minerva has raised $600 million with the issuance of dollar-denominated bonds that expire in 10 years, IFR reported on Wednesday. * The issuance of the senior unsecured notes was priced at a 7.50% coupon and a 7.625% yield, IFR said. * Minerva will use the proceeds from the sale to repay existing debt, according to IFR.
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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