Two-year German government bond yields dropped sharply on Friday to one-month lows after Iran's foreign minister said on Friday that passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire.
The U.S. is urging G20 members and the International Monetary Fund and World Bank to take coordinated action to ensure fertilizer access amid disruptions in food trade supply chains caused by the war in the Middle East, two sources familiar with the matter said on Friday.
The U.S., current chair of the Group of 20 major economies, is urging G20 members and the International Monetary Fund and World Bank to take coordinated action to ensure fertilizer access and a buffer against disruptions in food trade supply chains, two sources familiar with the matter said on Friday.
Canadian housing starts posted a surprise decline in March, falling 6% from the previous month, data from the national housing agency showed on Friday. The seasonally adjusted annualized rate of housing starts decreased to 235,852 units from a revised 250,961 units in February, the Canada Mortgage and Housing Corporation said.
Canadian housing starts posted a surprise decline in March, falling 6% from the previous month, data from the national housing agency showed on Friday. The seasonally adjusted annualized rate of housing starts decreased to 235,852 units from a revised 250,961 units in February, the Canada Mortgage and Housing Corporation said.
Regions Financial (RF) reported a 14% rise in first-quarter profit on Friday, as strong loan growth following U.S. Federal Reserve rate cuts lifted interest income and provisions for bad loans fell. The Fed lowered interest rates by 75 basis points in the second half of 2025, boosting loan growth and lending income across U.S. banks in the first quarter.
Fifth Third Bancorp (FITB) reported a rise in first-quarter adjusted profit on Friday, driven by increased net interest income and strength in its capital markets division. Federal Reserve rate cuts in late 2025 helped U.S. banks lower deposit costs and stimulate loan demand, keeping borrowing levels resilient during the quarter despite broader macroeconomic headwinds.
China is expected to leave benchmark lending rates unchanged for an 11th consecutive month in April, a Reuters survey showed, as robust first-quarter growth and a pick-up in inflation have weakened the case for additional monetary stimulus. This week, China's economy logged 5.0% growth, picking up from 4.5% in the previous quarter, and at the top of its full-year target range.
China is expected to leave benchmark lending rates unchanged for an 11th consecutive month in April, a Reuters survey showed, as robust first-quarter growth and a pick-up in inflation have weakened the case for additional monetary stimulus. This week, China's economy logged 5.0% growth, picking up from 4.5% in the previous quarter, and at the top of its full-year target range.
Deutsche Bank expects the U.S. Federal Reserve to keep interest rates unchanged in 2026, citing oil-driven inflation risks linked to the Middle East war, resilient growth and a tight labour market that leave little room to cut. The brokerage had earlier pencilled in a 25-basis-point cut in September.
The European Central Bank should lift its key interest rate twice this year to combat an energy-driven inflation surge, but should then reverse these moves in 2027, the International Monetary Fund's European Department chief said on Friday.
Yields on short-term Japanese government bonds were set for a weekly decline on Friday as expectations eased for any rapid interest rate increases by the central bank. The two-year yield, the one most sensitive to Bank of Japan policy rates, increased 1 basis point to 1.365%, but was set for its first five-day slide in a month.
* BOJ must take into account Japan's low real interest rate. * Ueda highlights robust corporate profits, fiscal stimulus effect. * Markets rule out April rate hike after Ueda drops no clear hints. By Leika Kihara.
Bank of Japan Governor Kazuo Ueda said on Thursday the central bank must take into account the fact that Japan's real interest rate is low, when deciding how soon to raise interest rates. Ueda made the comment in a news conference, after attending the International Monetary Fund meetings in Washington.
Finance chiefs of the Group of Seven nations on Thursday said it was urgent to limit the cost to the global economy of an enduring Middle East war and "reaffirmed the pressing need to move toward a lasting peace."
Inventrust Properties Corp (IVT): * Inventrust Properties Corp (IVT). ENTERS INTO A PRIVATE PLACEMENT OFFERING OF $250 MILLION SENIOR UNSECURED NOTES Source text: Further company coverage:
* Middle East conflict and tariffs fuel inflation concerns, oil prices rise. * Labor market shows stability, but softening could prompt Fed to ease policy. * Fed funds futures now price less than 50% chance of rate cut by year-end. By Karen Brettell.
Group of Seven finance ministers and central bank governors have agreed to stay ready to act to mitigate economic and inflation risks caused by the Middle East war's energy price and supply shocks, French Finance Minister Roland Lescure said on Thursday.
Central bank independence is a prerequisite for successful monetary policy, Bank of France Governor Francois Villeroy de Galhau said on Thursday. "It's for our economies and society, because the practical experience is that independence brings lower inflation and lower interest rates," he said.
* Warren urges delay of Warsh hearing over incomplete financial disclosures. * Warsh cites confidentiality agreements for disclosure gaps, pledges divestment if confirmed. * Warsh's path to Fed blocked by Republican Senator Tillis and unified opposition by Democrats. * Trump administration wants Warsh confirmed by May 15 when Powell's chair term ends. By Richard Cowan.
Federal Reserve Governor Stephen Miran, by far the U.S. central bank's most aggressive advocate?for fast and immediate interest rate cuts, said on Thursday he may again scale back the pace at which he thinks rates should fall because inflation is proving more persistent than expected.
Federal Reserve Governor Stephen Miran, by far the U.S. central bank's most aggressive advocate for fast and immediate interest rate cuts, said on Thursday he may again scale back the pace at which he thinks rates should fall because inflation is proving more persistent than expected.
New applications for U.S. unemployment benefits fell more than expected last week, suggesting labor market conditions remained stable, though employers are cautious about increasing headcount as the war with Iran casts a shadow over the economy.
The average rate on the popular U.S. 30-year fixed-rate mortgage fell to a four-week low this week, but remained well above its pre-war level. The 30-year fixed mortgage rate averaged 6.30%, down from 6.37% last week, mortgage finance agency Freddie Mac said on Thursday. The rate shot up to an average of 6.46% at the beginning of April.
U.S. Democratic Senator Elizabeth Warren on Thursday said she believes the holes in Federal Reserve chair nominee Kevin Warsh's financial disclosures of his more than $100 million in assets do not pass muster with Senate ethics rules and add to reasons his confirmation hearing set for Tuesday should be delayed.
* Iran says nuclear issues unresolved. * Traders see 36% chance of a US rate cut this year. * US weekly jobless claims drop amid labor market stability. By Ashitha Shivaprasad. Gold prices held steady on Thursday, as markets monitored U.S.-Iran developments and their implications for inflation and interest rates.
The European Central Bank still has a chance to look past the current inflation shock and calm judgment must prevail over haste, Finnish central bank chief Olli Rehn said on Thursday. Euro zone inflation jumped well above the 2% target last month as oil prices surged, prompting policymakers to debate whether to raise interest rates to prevent the shock from triggering a broader inflation spiral.
The Bank of England is testing the risks to the financial system caused by AI by conducting scenario analysis and simulations, the central bank said in a letter published by lawmakers on Thursday.
The Bank of England is testing the risks to the financial system caused by AI by conducting scenario analysis and simulations, the central bank said in a letter published by lawmakers on Thursday.
Europe should renew a dormant discussion about joint debt issuance and should consider financing 'public goods' via such an instrument, European Central Bank board member Isabel Schnabel said on Thursday. "The logical way to do this is to say European public goods should be financed at the European level via common debt," Schnabel told a Peterson Institute lecture.
U.S. factory production unexpectedly fell in March after two straight months of solid gains, weighed down by decreases in the output of motor vehicles and a range of other goods. Manufacturing output dipped 0.1% last month after an upwardly revised 0.4% increase in February, the Federal Reserve said on Thursday. Production at factories advanced 0.5% on a year-over-year basis in March.
* Weekly jobless claims fall 11,000 to 207,000. * Continuing claims increase 31,000 to 1.818 million. * Manufacturing production dips in March, but grows at a 3.0% rate in the first quarter. By Lucia Mutikani.
* Iran says nuclear issues unresolved. * Traders see 36% chance of a US rate cut this year. * Economic growth will be slower this quarter amid war, US Treasury chief says. By Ashitha Shivaprasad. Gold prices moved higher on Thursday as hopes for a peace deal between the U.S. and Iran helped ease inflation concerns and improved prospects for lower interest rates.
Fitch: * FITCH: LIMITED RATING IMPACT FROM KOSOVO'S POLITICAL CRISIS, BUT REFORM DELAYS POSSIBLE. * FITCH: FAILURE TO ELECT PRESIDENT IN KOSOVO COULD LEAD TO NEW PARLIAMENTARY ELECTIONS & MAINTAIN POLITICAL UNCERTAINTY. * FITCH: IT IS ALSO UNCLEAR IF ANY PARTY COULD WIN PARLIAMENTARY MAJORITY IN FRESH ELECTIONS IN KOSOVO.
The European Central Bank entered the current inflation shock in a strong position as the bloc managed to resolve many of its economic and financial imbalances over the past decade, ECB board member Isabel Schnabel said on Thursday.
Japan should gradually raise interest rates and keep any fiscal stimulus targeted given robust domestic demand and steady wage gains, a senior International Monetary Fund official said on Thursday.
Brazil's IBC-Br economic activity index rose a seasonally adjusted 0.6% in February from the previous month, the central bank said on Thursday, above the 0.47% rise forecast in a Reuters poll of economists. BY THE NUMBERS. * The index, a proxy for gross domestic product, was driven by strong industrial output, which expanded 1.2% from January, the central bank said.
New applications for U.S. unemployment benefits fell more than expected last week, suggesting labor market conditions remained stable, though employers are cautious about increasing headcount as the war with Iran casts a shadow over the economy.
The number of Americans filing claims for unemployment benefits fell last week, suggesting labor market conditions remained stable, though employers are cautious about hiring new workers as the conflict in the Middle East casts a shadow over the economy.
Federal Reserve Bank of New York President John Williams said Thursday that the Middle East war is already driving up inflationary pressures, and uncertainty over the outlook is limiting how much the central bank can say about what's next for interest rate policy.
Brazil's IBC-Br economic activity index rose a seasonally adjusted 0.6% in February from the previous month, the central bank said on Thursday, above the 0.47% growth expected by economists in a Reuters poll.
* IMF keeps Asia's growth forecasts roughly unchanged from January. * Tailwinds from solid exports somewhat offset energy shock. * Energy shock seen hurting Asia more than other regions. * Prolonged conflict could deepen pain through supply shortages. * Asian central banks should look through shock but must be agile. By Leika Kihara.
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.
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.
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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