* Iran tightens control of Strait of Hormuz, impacting global oil shipping. * Dollar gains as investors seek safe haven amid Middle East uncertainty. * US economic resilience and Fed policy support dollar strength over euro. By Karen Brettell and Amanda Cooper.
Kevin Warsh, President Donald Trump's nominee to chair the United States Federal Reserve, used this week's confirmation hearing to defend a central plank of his macro framework, said Desjardins in a note dated April 22. Warsh argued that artificial intelligence will raise the economy's productive potential, allowing output to grow faster without reigniting inflation.
U.S. business activity picked up in April after nearly stalling in the prior month, but supplier delivery times at factories worsened as the war with Iran disrupted supply chains, pushing a measure of output prices to a near four-year high. S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 52.0 this month.
The Federal Home Loan Bank of Pittsburgh announced today unaudited financial results for the first quarter of 2026. This press release features multimedia.
AM Best has assigned a Financial Strength Rating of B+ and a Long-Term Issuer Credit Rating of ?bbb-? to Ocean Marine Indemnity Company. The ratings reflect OMI?s balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
UBS said it expects the Bank of Canada to hold rates at next Wednesday's April meeting and for the remainder of the year, given uncertainty in the outlook. The same risks of trade tensions and Artificial Intelligence disruption remain, as does uncertainty over the outlook for tensions in the Middle East, writes the bank in a note to clients. The latest Canadian data has been "mixed," states UBS.
US initial jobless claims rose to a level of 214,000 in the employment survey week ended April 18 from an upwardly revised 208,000 level in the previous week, compared with expectations for an increase to 210,000 in survey of analysts compiled by Bloomberg. Initial claims were at a level of 205,000 in the employment survey week ended March 14.
The number of Americans filing claims for unemployment benefits increased slightly last week, pointing to continued labor market stability in April, though economic uncertainty and higher prices stemming from the war with Iran pose downside risks.
The Canadian Federation of Independent Business said its estimates and forecasts, in partnership with AppEco, suggest the Canadian economy grew 1.6% in Q1 and is expected to increase to 1.6% in Q2.
* UK PMI, CBI industry surveys show record price gauge increases. * Data will add to Bank of England worries over inflation. * Investors view UK vulnerable to Iran war fallout. * UK gilt yields rise to highest level this month. * PMI shows resilient output but with some front-loading. By Andy Bruce.
The authority that runs the Dulles airport plans bond sales and public private partnerships to keep the facility competitive amid Trump administration interest.
The US dollar rose against its major trading partners early Thursday before the release of weekly jobless claims data and the Chicago Federal Reserve's National Activity Index for March, both at 8:30 am ET.
The global economy is facing ever more tangible strains from the energy shock triggered by the Iran war as factories grapple with soaring production costs and activity weakens even in services sectors, major surveys showed on Thursday.
* Oil prices move above $100 as Iran-U.S. tensions escalate. * Dollar index near 1-1/2-week high on safe-haven demand. * Fed expected to delay rate cuts as energy shock fuels inflation, Reuters poll shows. By Amanda Cooper.
* S&P Global surveys highlight growing strains. * Evidence of firms "front-loading" output again. * Some signs that more now see long-term disruption. By Jonathan Cable and Kaori Kaneko.
The European Central Bank will hold its deposit rate on April 30 but hike it in June, according to just over half of economists polled by Reuters, in a bid to protect a war-fuelled energy shock from knocking the euro zone economy off balance.
The Bank of Canada will keep rates unchanged at next Wednesday's policy meeting, said RBC. If the policy language shifts, it will be only marginal, but likely in the direction of more hawkish than last time, noted the bank.
The euro zone's short-dated government bond yields ticked lower on the heels of weak economic data, but remained on track for their fourth daily rise as tensions around the Strait of Hormuz bolstered expectations of European Central Bank rate hikes.
Husqvarna's chief executive said on Thursday that the turmoil in the Middle East could increase the Swedish garden equipment maker's costs by 300 million Swedish crowns this year if the U.S.-Iran war is extended. "If this situation continues for the rest of 2026, I would ... see around 100 million crowns of headwind from logistics and 200 million from raw materials," CEO Glen Instone told Reuters.
* Iran seizes two ships in the Strait of Hormuz. * Brent crude oil climbs back above $100 a barrel. * US Federal Reserve to likely wait six months before interest rate cut, according to Reuters poll. By Pablo Sinha.
* Oil prices move above $100 as Iran-U.S. tensions escalate. * Dollar index near 1-1/2-week high on safe-haven demand. * Fed expected to delay rate cuts as energy shock fuels inflation, Reuters poll shows. By Amanda Cooper.
The share of British companies reporting rising costs surged by a record amount this month, a clear warning of higher inflation ahead as fallout from the Iran war spreads through the economy, a survey showed on Thursday.
The Indonesian rupiah hit a record
low of 17,315 per U.S. dollar on Thursday as elevated oil prices
and persistent fiscal and governance worries trigger capital
outflows, while the Philippine peso ...
Finland will increase defence spending to 3.2% of gross domestic product by 2030, the government said, as it decided to cut other expenditure and drafted its budget for the next four years.
Business activity in the euro zone suffered a surprise contraction in April with the U.S.-Israeli war with Iran sapping demand as prices soared, a closely watched survey showed on Thursday. Demand for services sank but was contradicted by an unexpected rise in manufacturing momentum.
Germany's private sector contracted for the first time in almost a year in April as the Iran war put the brakes on the country's economic recovery, hitting demand and driving up prices, a survey showed on Thursday.
On Wednesday, Freddie Mac and Fannie Mae announced their acceptance of mortgages evaluated using VantageScore 4.0 to reduce costs for American homebuyers and stimulate competition in the mortgage credit-scoring market. The mortgage housing behemoths will initiate?a limited roll-out to approved?lenders.
* UK reports budget deficit of 4.3% of GDP in 2025/26. * Smallest gap since 2019/20 and matching OBR forecast. * Fuel duty revenues dip in March as petrol prices soar. * Budget outlook likely to deteriorate as Iran war effects mount. By Andy Bruce and William Schomberg.
The following are the top stories on the New York Times business pages. - Kevin Warsh, at his confirmation hearing to lead the Federal Reserve, sought to dispel concerns that he would cut interest rates to please President Trump. - Lululemon has hired a former Nike executive Heidi O'Neill as its new chief executive.
The Indonesian rupiah fell sharply to a record low
of 17,315 against the U.S. dollar on Thursday, a day after the central bank said
it would go all out to defend the "undervalued" currency ...
* Oil prices move above $100 as Iran-U.S. tensions escalate. * Dollar index near 1-1/2-week high on safe-haven demand. * Fed expected to delay rate cuts as energy shock fuels inflation, Reuters poll shows. By Jiaxing Li.
CFRA, an independent research provider, has provided MT Newswires with the following research alert. FICO's stranglehold on mortgage credit scoring officially ended as FHFA Director Bill Pulte announced that "effective immediately," Fannie Mae and Freddie Mac would accept VantageScore, FICO's main competitor, credit models. MT Newswires does not provide investment advice.
Japan's manufacturing activity expanded at its strongest pace in four years in April as firms boosted production over concerns about potential supply shortages due to rising tensions in the Middle East, a private-sector survey showed on Thursday. * The S&P Global flash Japan Manufacturing Purchasing Managers' Index rose to 54.9 in April, the highest since January 2022, from 51.6 in March.
TransUnion (TRU) today applauds the Federal Housing Finance Agency and the Department of Housing and Urban Development for moving forward the inclusion of VantageScore? 4.0 in the U.S. mortgage market to drive affordable homeownership for consumers.
U.S. stocks surged on Wednesday, with the Nasdaq setting a new high and the S&P 500 a new closing high, as tech and earnings optimism outweighed Brent crude's return above $100 a barrel and concerns that peace in the Middle East is proving elusive.
U.S. private credit lenders known as business development companies, or BDCs, face a "deteriorating" outlook at the same time as elevated investor redemptions and above-average troubled loans could constrain liquidity of some BDCs, credit rating agency Fitch Ratings said in a report on Wednesday.
Sallie Mae, formally SLM Corporation (SLM), today announced a 2026 second-quarter dividend on its Preferred Stock Series B of $1.4269028 per share. Both preferred stock and common stock dividends will be paid on June 15, 2026, to the respective stockholders of record at the close of business on June 4, 2026.
Mohammed Murad, head of credit research for PT Asset Management, said the ceasefire extension "possibly offers less clues as to what a permanent resolution may look like."
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Acerta Compa?ia de Seguros, S.A.. The outlook of these Credit Ratings is stable. The ratings reflect Acerta?s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
Financial stocks were lower late Wednesday afternoon, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF down 0.3%. The Philadelphia Housing Index rose 0.3%, and the State Street Real Estate Select Sector SPDR ETF was down 1%. Bitcoin was increasing 3.5% to $78,958, and the yield for 10-year US Treasuries was slightly higher at 4.29%. In corporat...
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) today announced a distribution of $0.0500 per share of common stock, payable on June 1, 2026 to shareholders of record at the close of business on May 18, 2026. The Fund intends to make regular monthly distributions to its common shareholders at a level rate based on its projected performance.
Financial stocks were lower late Wednesday afternoon, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF down 0.3%. The Philadelphia Housing Index rose 0.3%, and the State Street Real Estate Select Sector SPDR ETF was down 1%. Bitcoin was increasing 3.5% to $78,958, and the yield for 10-year US Treasuries was slightly higher at 4.29%. In corporat...
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.
Log In Required
Publication Date