The Middle East conflict sent oil prices higher, potentially benefitting energy producing states, although heightened inflation risks could hit budgets.
The Bank of England will hold interest rates steady next week and likely through the rest of the year, according to a Reuters poll of economists, who broadly stuck to the same steady policy views as last month but revised up their inflation outlook.
While the consumer price index headline rate rose sharply in Canada in March, at 0.9% month-over-month unadjusted for seasonal factors, this was not quite as strong as the expected 1.1%, said Commerzbank after Monday's CPI.
Canada's inflation measures were mixed in March, said David Doyle, head of economics at Macquarie Group, after Monday's consumer price index data. Doyle noted headline inflation accelerated to 2.4% year over year due to gasoline. He also noted traditional core was flat on the month and 1.9% year over year.
Commerzbank in its "European Sunrise" note of Tuesday highlighted: Markets: United States Treasuries and equities are supported, while oil is little changed. Fed: Kevin Warsh to commit that monetary policy "remains strictly independent" in Tuesday's hearing to approve the new Federal Reserve chair, but sees no particular threat when politicians "state their views on interest rates".
Industrial giant 3M (MMM) posted a rise in first-quarter profit on Tuesday, as cost-control measures, price hikes and new product launches helped offset inflationary and tariff-linked pressures. The company's quarterly adjusted profit came in at $2.14 per share, compared with $1.88 per share a year ago.
Kevin Warsh would like to see the Federal Reserve slash its vast bond holdings, but has yet to flesh out just how he would do that if confirmed to be the next head of the U.S. central bank, a matter likely to come up in his confirmation hearing on Tuesday before the Senate Banking Committee.
Federal Reserve chief nominee Kevin Warsh said on Tuesday he had made no promises to President Donald Trump about cutting interest rates, as he tried to assure U.S. senators mulling his confirmation to lead the U.S. central bank that he would act independently of the White House while pursuing?broad reforms.
* Warsh's confirmation for top Fed job faces delay due to dispute over Powell criminal probe. * Senator Tillis vows to block confirmation until government drops investigation. * Warsh expected to outline what he would do differently as Fed chief. By Howard Schneider.
LONDON, April 21, 2026 ION Treasury, a global provider of treasury and risk management solutions for corporations, financial institutions, and central banks, today announces the introduction of Verification of Payee capabilities across its treasury solutions.
(Adds China's March refined copper output in paragraph 11; Copper dipped on Tuesday as investors weighed prospects for renewed peace talks between the United States and Iran, and awaited Federal Reserve Chair nominee Kevin Warsh's Senate confirmation hearing for cues on interest rates. Benchmark three-month copper on the London Metal Exchange eased 0.17% to $13,252.50 a metric ton by 0711 GMT.
Euro zone government bonds held steady on Tuesday as traders watched to see whether peace talks between the U.S. and Iran would take place, and awaited the Senate confirmation hearing for Kevin Warsh, President Trump's pick to lead the Federal Reserve. But there were few new developments to react to on Tuesday.
Japanese government bonds rose on Tuesday on growing bets that the Bank of Japan will not increase interest rates at its policy meeting next week to spend more time gauging the fallout from the Middle East conflict. The 10-year JGB yield fell 2 basis points to 2.375%. The two-year yield declined 1 bp to 1.345% and the five-year yield fell 1.5 bps to 1.8%. Yields move inversely to bond prices.
Japan will take necessary action as it closely monitors developments in crude oil prices and the global economy, Finance Minister Satsuki Katayama said on Tuesday, as concerns linger over the impact of Middle East tensions on energy markets.
* Dollar and yen face pressure as investors embrace risk. * Kiwi dollar rises following inflation reading. * Investors closely watch U.S.-Iran talks. By Jiaxing Li. The dollar and yen were under pressure on Tuesday, with investors poised to buy riskier currencies and hoping for a U.S.-Iran deal to reopen Gulf shipping, while a sticky inflation reading lifted the New Zealand dollar.
Mineral Resources Ltd (MALRF): * MIN PRICES US$1.3 BILLION SENIOR UNSECURED NOTES OFFERING. * NOTES OFFERING SETTLEMENT EXPECTED IN NEW YORK ON 29 APRIL 2026. * 2032 NOTES PAY 6.000% PER ANNUM, 2034 NOTES PAY 6.250% PER ANNUM. * PROCEEDS TO REFINANCE US$625 MILLION NOTES DUE 2027 AND REDEEM US$350 MILLION NOTES DUE 2028 Further company coverage:
KBRA assigns a BBB- preliminary long term credit rating for $50 million of five-year, 8.05% fixed rate senior unsecured notes to be issued by Converge Holdings LLC. The proceeds from the issuance will be used to support the continued growth of its subsidiary, Converge RE II.
Oil rose on Monday and the main U.S. equity indices fell as U.S.-Iran tensions re-escalated and the Strait of Hormuz was closed, although the fairly mild market moves suggest investors are hopeful negotiations will resume and yield positive results.
Market support for taxables, particularly those from active issuers, remains firm. Taxables are seeing gains of 1.08% year-to-date, or 50 basis points above a UST index gain, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.
President Donald Trump picked Kevin Warsh to deliver the rate cuts the White House has been demanding for more than a year. But the incoming Federal Reserve chairman is arriving in Washington with a different product. Warsh?s opening statement for Tuesday?s confirmation hearing before the Senate Banking Committee refuses to commit to any.
Democratic members of a Senate panel set to hold a confirmation hearing for Federal Reserve chair nominee Kevin Warsh on Tuesday are worried about the potential central bank leader's pledge to unload assets not allowed by current ethics rules.
* Senate Democrats question transparency of Warsh's asset divestiture plan. * Concerns raised over Warsh's ties to billionaire Stanley Druckenmiller. * Warsh updates divestiture plan after ethics office talks, faces tough confirmation path. By Michael S. Derby.
* Canadian dollar gains 0.4% against the greenback. * Touches its strongest since March 13 at 1.3636. * Price of oil settles 6.9% higher. * Annual inflation rate rises to 2.4% in March. By Fergal Smith.
Financial stocks were mixed in late Monday afternoon trading, with the NYSE Financial Index decreasing 0.1% and the State Street Financial Select Sector SPDR ETF adding 0.3%. The Philadelphia Housing Index was rising 0.7%, and the State Street Real Estate Select Sector SPDR ETF was up 0.2%. Bitcoin was climbing 3.3% to $76,265, and the yield for 10-year US Treasuries was slightly higher at 4.25...
Financial stocks were mixed in late Monday afternoon trading, with the NYSE Financial Index decreasing 0.1% and the State Street Financial Select Sector SPDR ETF adding 0.3%. The Philadelphia Housing Index was rising 0.7%, and the State Street Real Estate Select Sector SPDR ETF was up 0.2%. Bitcoin was climbing 3.3% to $76,265, and the yield for 10-year US Treasuries was slightly higher at 4.25...
* Treasuries volumes subdued, investors eschew large bets. * US rate futures price in 14 bps of cuts this year. * Focus on Kevin Warsh's Senate hearing for top Fed job. By Gertrude Chavez-Dreyfuss.
Organizations and Community Partners Celebrated the Opening at an Event. Austin, Texas, residents have new affordable housing options, thanks in part to a $2 million grant from the Federal Home Loan Bank of Dallas through member, Bank OZK (OZK). This press release features multimedia.
Wells Fargo CEO Charlie Scharf said on Monday that lowering interest rates now, before there is clarity about a potential end to the Iran conflict, would be "the wrong thing to do." "Until it's clear what the end is in sight, there's real risk out there," Scharf said, adding that there seems to be a consensus about waiting to see how the Iran conflict will play out.
Financial stocks were mixed in Monday afternoon trading, with the NYSE Financial Index decreasing 0.1% and the State Street Financial Select Sector SPDR ETF adding 0.2%. The Philadelphia Housing Index was rising 0.4%, and the State Street Real Estate Select Sector SPDR ETF was up 0.2%. Bitcoin was climbing 0.6% to $75,663, and the yield for 10-year US Treasuries was rising one basis point to 4....
Financial stocks were mixed in Monday afternoon trading, with the NYSE Financial Index decreasing 0.1% and the State Street Financial Select Sector SPDR ETF adding 0.2%. The Philadelphia Housing Index was rising 0.4%, and the State Street Real Estate Select Sector SPDR ETF was up 0.2%. Bitcoin was climbing 0.6% to $75,663, and the yield for 10-year US Treasuries was rising one basis point to 4....
Wells Fargo CEO Charlie Scharf said on Monday that lowering interest rates now before there is clarity about a potential end to the Iran conflict would be "the wrong thing to do." "Until it's clear what the end is in sight, there's real risk out there," Scharf said.
Kevin Warsh, U.S. President Donald Trump's nominee to lead the Federal Reserve, will tell lawmakers at his Senate confirmation hearing on Tuesday that he is "committed to ensuring that the conduct of monetary policy remains strictly independent," according to prepared remarks released on Monday.
While shorter-term inflation expectations understandably rose as a result of the Middle East conflict, longer-term expectations remained largely anchored, even for those who responded to the surveys after the spike in global oil prices, said Desjardins following Monday's release of the Bank of Canada Q1 business and consumer surveys.
The Toronto Stock Exchange is down 27 points at midday as Middle East peace prospects grow fainter. Miners, down 0.5%, is the worst performer, as precious metals prices decline. Healthcare and energy, up 2% and 0.9% are the best performers. On the economic front, all eyes were on the release of Canadian CPI for March.
Kevin Warsh, U.S. President Donald Trump's nominee to lead the Federal Reserve, will tell lawmakers at his Senate confirmation hearing on Tuesday that he is "committed to ensuring that the conduct of monetary policy remains strictly independent," according to prepared remarks released on Monday.
* Warsh pledges to work with the administration, Congress on non-monetary Fed matters. * He reprises criticisms of Fed overreach. * Warsh says Fed independence is threatened by its failure to maintain price stability. By Ann Saphir and Doina Chiacu.
Former Fed nominee Judy Shelton unloaded on Fed Chair Jerome Powell in a Sunday Wall Street Journal op-ed, branding the central bank?s 2% inflation target a policy of ?intentional debasement? and invoking James Madison?s view that a depreciating currency is unconstitutional because it erodes property rights. The timing is not subtle.
* Treasuries volumes have been subdued, investors eschew large bets. * US rate futures price in 14 bps of cuts this year. * Prices rebound from earlier losses. By Gertrude Chavez-Dreyfuss.
Federal Reserve Chair nominee Kevin Warsh has pledged to divest from a foreign-oriented investment fund?if confirmed to lead the U.S. central bank, according to an updated financial disclosure filing.
Federal Reserve Chair nominee Kevin Warsh has pledged to divest from a foreign-oriented investment fund if confirmed to lead the U.S. central bank, according to an updated financial disclosure filing. The fund that Warsh says he will divest from targets Canadian equities.
The rise in Canadian headline consumer price index growth to 2.4% year over year in March was primarily driven by higher energy prices due to conflict in the Middle East, but broader underlying inflation pressures showed further signs of easing under the surface, said RBC. Year-over-year price growth also continues to be distorted heavily by tax changes, noted the bank after Monday's CPI data.
With consumers facing a 13% increase in energy costs in March, Canada's consumer price index rose 0.9% month over month, said Desjardins after Monday's CPI data. However, that was slightly below expectations as CPI excluding food and energy posted a surprisingly weak flat reading, noted the bank.
KBRA assigns preliminary ratings to 58 classes from Connecticut Avenue Securities Trust 2026-R03, a credit risk sharing transaction with a total note offering of $629,983,000. The Reference Pool consists of 55,708 residential mortgage loans with an outstanding principal balance of approximately $20.0 billion as of the cut-off date.
The US Supreme Court refused to block a class-action suit accusing eight major banks of fixing prices on state and municipal bonds, news outlets reported Monday. The court rejected the banks' appeal and upheld an earlier court decision to certify the class action filed by cities including Baltimore, Philadelphia, and San Diego, according to the reports.
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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