The 2.4% headline reading, driven by a 0.9% non-seasonally adjusted month-over-month increase, or 0.5% after seasonal adjustment, was actually slightly below the consensus expectation of 2.6%, although still a sharp acceleration from 1.8% in the prior month, said CIBC.
Canadian headline consumer price index inflation jumped up to 2.4% year over year in March, slightly less than consensus expectations, said TD after Monday's CPI data. Higher energy prices were a big part of the story, with inflation excluding energy up a more "modest" 2.2% year over year, noted the bank. Prices at the pump soared 21% month over month in March -- the largest increase on record.
Canadian consumer prices "popped" 0.9% month over month in March, lifting the year over year headline inflation rate to 2.4% from 1.8% the prior month, noted Bank of Montreal after Monday's consumer price index data.
The U.S. Supreme Court declined on Monday to hear a bid by Bank of America (BAC) and seven other major financial institutions to prevent American cities from banding together in a $12 billion class action accusing them of artificially inflating interest rates on a popular municipal bond.
The U.S. Supreme Court declined on Monday to hear a bid by Bank of America (BAC) and seven other major financial institutions to prevent American cities from banding together in a $12 billion class action accusing them of artificially inflating interest rates on a popular municipal bond.
The U.S. Federal Reserve's vice chair for supervision, Michelle Bowman, has told big bank executives that she does not expect the industry to stage another aggressive pushback in a bid to win further capital relief, according to three people with knowledge of the communications.
Everyone knew that Canada's inflation would jump in March due to higher gasoline prices, but the only question remaining was how high would it jump, said CIBC after Monday's consumer price index data.
The Canadian consumer price index increased 2.4% year over year in March, up from an increase of 1.8% year over year in February, said the country's statistical agency on Monday. March's CPI was lower than the 2.6% year-over-year consensus figure provided by Scotiabank.
Canada updates the consumer price index for March at 8:30 a.m. ET on Monday, said Scotiabank. Consensus sits at 1.1% month-over-month seasonally unadjusted, noted the bank, which estimates a 0.9% figure. The range is from 0.9-1.3%, pointed out Scotiabank.
South Korean President Lee Jae Myung formally appointed Shin Hyun-song, a Bank of International Settlements economist, as governor of the Bank of Korea on Monday, South Korea's Newsis news agency reported. Shin is set to take office as central bank chief on Tuesday for a four-year term and is expected to chair his first rate-setting monetary policy meeting on May 28.
The U.S. will host further talks in coming weeks for the Group of 20 major economies on the impact of the war in the Middle East on food and fertilizer, as it continues to push for coordinated action.
The Canadian consumer price index report for March is the key release at 8:30 a.m. ET on Monday and it's going to show much higher headline inflation, said Bank of Montreal. The bank noted that oil prices surged as conflict broke out in the Middle East, driving gasoline prices sharply higher, which alone will drive inflation up about 0.7 percentage point in March.
The US dollar was mixed against its major trading partners early Monday -- up versus the pound and yen, down versus the euro and Canadian dollar -- as the focus turns to retail sales data on Tuesday and the S&P Global flash estimates on Thursday. Federal Reserve officials are in a quiet period ahead of the April 28-29 Federal Open Market Committee meeting.
Higher gasoline prices in March in Canada, up 21% from February, are expected to push year-over-year growth in the headline consumer price index up to 2.5% from 1.8% in February, while inflation excluding food and energy ticks slightly higher to 2.2%, said RBC in a preview published Friday. Canada is scheduled to release the CPI for March at 8:30 a.m. ET on Monday.
This week's focus turns to March inflation data, which will help clarify how much of the recent energy shock resulting from the Iran war is feeding through beyond gasoline, said TD. Canada is slated to release the consumer price index for March at 8:30 a.m. ET on Monday.
Canadian housing starts decreased to 235,900 annualized units in March, down 6% month over month, said TD after Friday's data from the Canada Mortgage and Housing Corp.. The volatile starts data pulled back in March after the prior month's gain. On a trend basis, starts are well down from their September 2025 high.
Kevin Warsh, picked by President Donald Trump to succeed Federal Reserve Chair Jerome Powell, has big plans for the central bank once he takes the helm. As San Francisco Fed President Mary Daly said Friday, "he'll come in with an idea of what he would like to think about and do. Lawmakers at Warsh's Tuesday confirmation hearing will surely have lots of questions about those ideas.
After more than a decade criticizing the U.S. central bank, former Federal Reserve Governor Kevin Warsh faces a mark-to-market moment in a Senate hearing on Tuesday when lawmakers will likely press the Fed chief nominee to flesh out his monetary policy and economic ideas and calls for fundamental change.
* Warsh advocates regime change, lower rates and smaller balance sheet. * He calls for narrowing Fed's remit and more coordination with Treasury. * Criticizes current Fed communication, urges less 'cacophony' and clearer policy direction. Kevin Warsh, picked by President Donald Trump to succeed Federal Reserve Chair Jerome Powell, has big plans for the central bank once he takes the helm.
* Senate Banking Committee to scrutinize Warsh's Fed reform agenda, policy views. * Session on Tuesday is next step in tangled path to confirmation. * Former Fed governor has long track record of central bank criticism to unpack, detail. By Howard Schneider.
FITCH: * FITCH REVISES PHILIPPINES' OUTLOOK TO NEGATIVE; AFFIRMS AT 'BBB' * FITCH ON PHILIPPINES: AFFIRMATION REFLECTS OUR BASELINE THAT, DESPITE RISING RISKS, MEDIUM-TERM GDP GROWTH WILL REMAIN ROBUST. * FITCH: PHILIPPINES HIGHLY EXPOSED TO MIDDLE EAST CONFLICT GIVEN ITS RELIANCE ON ENERGY IMPORTS & POTENTIAL MODERATION OF REMITTANCES FROM GULF REGION.
Pablo Hern?ndez de Cos, General Manager of the?Bank for International Settlements, said Monday that stablecoins present both ?opportunities and challenges,? urging coordinated efforts to move forward. Stablecoins are cryptocurrencies designed to maintain a stable value by pegging it to a reserve asset.
GUANGZHOU, China, April 20, 2026 XTransfer, the World's Leading B2B Cross-Border Trade Payment Platform, released its latest figures at the 139th China Import and Export Fair. In the first quarter of this year, emerging markets across Asia, Africa, and Latin America accounted for 73% of XTransfer's inbound cross-border payment collections, with 45% increase year-on-year.
Japanese government bonds rallied on Monday as investors gauged how inflationary pressures will affect the timing of the rate increases by the central bank. The benchmark 10-year JGB yield, which last week touched a 29-year high of 2.49%, fell 2.5 basis points to 2.395%. The five-year yield, which jumped to a record 1.9% on April 13, slid 2 bps to 1.815%. Yields move inversely to bond prices.
The Bank for International Settlements' chief has made a renewed call for international cooperation on how stablecoins are used, saying this is vital to prevent severe market fragmentation. The central bankers' central bank, as the BIS is known, has long raised concerns about stablecoins - a type of cryptocurrency usually pegged 1:1 to the U.S. dollar.
The head of the Bank for International Settlements has made a renewed call for international cooperation on how stablecoins are used, describing it as vital to prevent severe market fragmentation. The central bankers' central bank, as the BIS is known, has long raised concerns about stablecoins - a type of cryptocurrency usually pegged 1:1 to the U.S. dollar.
Research from the BCG Henderson Institute Details Four Plausible Scenarios for the World over the Next 25 Years, Based on Analysis of More Than 100 Megatrends and a Century of Historical Data BOSTON, April 20, 2026 /PRNewswire/ -- The global economy could follow markedly different paths over the next 25 years.
Japanese government bonds rallied on Monday as markets awaited an inflation report from the central bank to gauge the timing of the next interest rate increase. The benchmark 10-year JGB yield, which last week touched a 29-year high of 2.49%, fell 2 basis points to 2.4%. The five-year yield, which jumped to a record 1.9% on April 13, slid 1 bp to 1.825%. Yields move inversely to bond prices.
The global economy cannot afford further Strait of Hormuz uncertainty, the CEO of Abu Dhabi state oil company ADNOC said on Sunday, adding that the waterway should not operate under threat. "Hormuz belongs to the world.
The yen may come under further pressure if markets see the Bank of Japan as being too slow in addressing inflationary risks, Asian Development Bank President Masato Kanda said.
* US-Japan interest rate gap behind yen's weakness, Kanda says. * Worry about Japan's fiscal sustainability may also weaken yen. * Kanda urges countries to keep fuel subsidies targeted, temporary. By Leika Kihara. The yen may come under further pressure if markets see the Bank of Japan as being too slow in addressing inflationary risks, Asian Development Bank President Masato Kanda said.
* Central bank relies on scenarios amid volatile commodity prices. * South Africa faces no immediate fuel shortages. * Fertilizer impact unclear until autumn. By Libby George. South Africa's central bank governor told Reuters that it was difficult to see a near-term path for easing interest rates due to the volatility from the war in the Middle East and its impact on inflation.
DWS, a leading European asset manager with global reach, today announced the impending closure and liquidation of two Xtrackers ETFs: Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) and Xtrackers California Municipal Bond ETF (CA). Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) is listed on NYSE. Xtrackers California Municipal Bond ETF (CA) is listed on NASDAQ.
The U.S. Federal Reserve's vice chair for supervision, Michelle Bowman, has told big bank executives that she does not expect the industry to stage another aggressive pushback in a bid to win further capital relief, according to three people with knowledge of the communications.
* MOODY'S RATINGS CHANGES OUTLOOK ON BAHRAIN TO NEGATIVE FROM STABLE; AFFIRMS B2 RATINGS. * MOODY'S: NEGATIVE OUTLOOK REFLECTS ASSESSMENT THAT MIDDLE EAST CONFLICT WILL AGGRAVATE PERSISTENT DETERIORATION IN BAHRAIN'S UNDERLYING CREDIT METRICS. * MOODY'S - DISRUPTION OF MARITIME SHIPPING VIA STRAIT OF HORMUZ & AIR TRAVEL AROUND GULF IS AFFECTING BAHRAIN'S HYDROCARBON & ALUMINIUM EXPORTS.
"Ceasefire optimism augmented by a liquidity-driven risk-on macro market environment should be neutral for duration and positive for credit spreads," BofA analysts wrote.
MOODY'S ON IRAQ: * MOODY'S RATINGS CHANGES IRAQ'S OUTLOOK TO NEGATIVE, AFFIRMS CAA1 RATINGS. * MOODY'S ON IRAQ: NEGATIVE OUTLOOK REFLECTS RISING RISKS TO IRAQ'S CREDIT PROFILE STEMMING FROM CONFLICT IN MIDDLE EAST. * MOODY'S: RATINGS AFFIRMATION ON IRAQ REFLECTS CHALLENGES POSED BY WEAK INSTITUTIONS & GOVERNANCE THAT CONSTRAIN GOVERNMENT'S CAPACITY TO RESPOND TO SHOCKS.
Revolution Medicines (RVMD) said late Friday it has closed its concurrent upsized public offerings of 12.1 million common shares at a public offering price of $142 apiece and $500 million of 0.50% convertible senior notes due 2033 for collective gross proceeds of about $2.23 billion.
Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index rising 1.3% and the State Street Financial Select Sector SPDR ETF adding 0.9%. The Philadelphia Housing Index popped 3.9%, and the State Street Real Estate Select Sector SPDR ETF was up 1.6%. Bitcoin rose 2.8% to $77,288, and the yield for 10-year US Treasuries dropped 6.3 basis points to 4.246%. In ...
Talen Energy Corporation (TLN), announced today that Talen Energy Supply, LLC, a direct wholly owned subsidiary of TEC, has priced issuances of $1,500,000,000 in aggregate principal amount of 6.125% senior notes due 2031 and $2,500,000,000 in aggregate principal amount of 6.375% senior notes due 2033 in private placement transactions not involving a public offering.
Revolution Medicines, Inc. (RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced the closing of its concurrent upsized public offerings of 12,147,887 shares of its common stock at a public offering price of $142.00 per share and $500.0 million aggregate principal amount of 0.50% convertible senior notes due 2033.
Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index rising 1.3% and the State Street Financial Select Sector SPDR ETF adding 0.9%. The Philadelphia Housing Index popped 3.9%, and the State Street Real Estate Select Sector SPDR ETF was up 1.6%. Bitcoin rose 2.8% to $77,288, and the yield for 10-year US Treasuries dropped 6.3 basis points to 4.246%. In ...
Federal Reserve Gov. Christopher Waller said Friday that the length of time the Strait of Hormuz remains blocked will be a key factor in the longer-term inflation outlook ? and, by extension, the Federal Reserve's monetary policy path.
* Iran keeps Strait of Hormuz open during ceasefire. * Traders see increased odds of Fed rate cut. * Warsh faces April 21 confirmation hearing as Fed chair. By Karen Brettell. U.S. Treasury yields fell on Friday as optimism grew that the Iran war may be nearing resolution, easing concerns about a renewed bout of inflation.
* Insurance companies may be reluctant, Saudi minister says. * Risks remain until 'serious, credible' de-escalation reached, Al-Jadaan says. * IMF chief Georgieva says it's too soon to back away from most severe scenario. By Andrea Shalal and David Lawder.
Bank of Canada Governor Tiff Macklem said on Friday inflation will rise in the short term and that an uptick in near-term inflation expectations would not worry the central bank. However, he said he would be concerned if longer-term inflation expectations remained elevated. Macklem was speaking to journalists on a call from Washington on the sidelines of the IMF meetings.
National Bank noted the highlight of the week ahead will be the release of Consumer Price Index data for March on Monday. Another key event will be the release of the retail sales report for February, next Friday. National Bank will also keep an eye on the release of the March Industrial Product Price Index on Thursday and the Bank of Canada's first-quarter Business Outlook Survey 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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