* Senate Banking Committee expected to advance Warsh's nomination along party lines. * Vote on Wednesday opens way to smooth Fed leadership handoff on May 15. * Powell may stay on as Fed governor amid threats to central bank's independence. By David Lawder.
* Fed officials ponder economic fallout from high oil prices. * Warsh expected to be confirmed as next Fed chief by Senate. * Powell may address whether he plans to remain a Fed governor. By Howard Schneider.
The Bank of Canada is expected to keep its benchmark interest rate at 2.25% on Wednesday and update its inflation and growth forecasts after the oil price shock, economists said. Money markets are pricing in no move in interest rates, and betting on one 25 basis-point rate hike by the fourth quarter.
* Powell drew Trump's early ire, faced criticism for early communication missteps. * Fed's pandemic response seen as bold and controversial, with debate over what caused inflation jump. * Powell's legacy includes low unemployment, higher inflation, defense of Fed independence. By Howard Schneider.
Federal Reserve officials last met just over two weeks into the U.S.-led war on Iran and then had little data at their disposal beyond surging gasoline prices to assess its impact on the economy and ...
Societe Generale in its early Wednesday economic news summary pointed out: -- Brent up to US$112.5/barrel. -- Australia March consumer price index accelerates to 4.6% year over year from 3.7% in February, below forecast.
* Trump unhappy with latest Iran peace proposal. * Global gold demand rose 2% y-o-y in Q1'2026 - World Gold Council. By Pablo Sinha. Gold prices slipped on Wednesday, as rising oil prices fuelled concerns of persistent inflation, with markets watching closely for remarks from U.S. Federal Reserve Chair Jerome Powell on the future path of interest rates.
The Bank of England's regulatory arm on Wednesday set out plans to tighten the capital treatment of funded reinsurance, a type of deal in which life insurers pass on risk to offshore reinsurers. British life insurers will have to increase the amount of capital they hold against these transactions to about 10%, up from about 2% to 4% currently, the Prudential Regulation Authority said.
Wall Street moved lower on Wednesday, with spiking crude prices fanning inflation worries as the U.S. Federal Reserve left interest rates unchanged at the conclusion of what is likely to be its last monetary policy meeting under Chair Jerome Powell.
* Futures: Nasdaq up 0.27%, Dow and S&P 500 flat. U.S. stock index futures were mixed on Wednesday, in a cautious start to a day packed with several Big Tech earnings reports and a Federal Reserve meeting expected to be Chair Jerome Powell's last.
* MSCI EM FX off 0.1%, stocks up 0.3% * US plans to extend blockade of Iran, oil extends rally. * Poland says fuel price caps could be extended. * Analysts: Strait of Hormuz reopening key for UAE oil to move markets. By Purvi Agarwal.
Greece's jobless rate stood at 9.0% in March, up from an upwardly revised 8.6% in February, data from statistics service ELSTAT showed on Wednesday. Seasonally adjusted data showed 436,057 people were officially unemployed. Unemployment impacted women more than men, at the rates of 11.5% and 6.9%, respectively.
* Sterling slips as investors await central bank decisions and Iran war peace talks stall. * BoE expected to hold rates; focus on policymakers' votes for rate hike signals. * UK economy faces slowdown and persistent inflation due to Iran war, NIESR forecasts. By Amanda Cooper.
* Bank lending surprisingly resilient. * Economic sentiment plunges on services. * Inflation seen ticking up. By Balazs Koranyi. Euro zone economic sentiment plunged to a three-and-a-half-year low this month as the Iran war hit the services sector hard and inflation continued to rise, even as lending figures showed modest signs of resilience, a raft of data showed on Wednesday.
Thai stocks extended gains on Wednesday after the
central bank kept the key interest rate unchanged as expected, while the
Indonesian rupiah and the Philippine peso traded at record lows as ...
Image: IUX IUX has released a market analysis highlighting how evolving Federal Reserve leadership and a strengthening U.S. dollar are influencing global financial markets.
* Fed expected to hold rates, focus on Powell's future and war's economic impact. * Oil prices rise, boosting dollar demand as safe-haven. * Yen steady near intervention levels, BOJ signals gradual rate hikes if conditions allow. By Rae Wee and Amanda Cooper.
* Trump unhappy with latest Iran peace proposal. * Fed expected to hold rates steady later in the day. * Brent crude oil remained above $112 a barrel. By Noel John. Gold edged lower on Wednesday, as higher oil prices fuelled fears of inflation, while investors awaited U.S. Federal Reserve Chair Jerome Powell's comments to gauge the impact of the Iran war on the economy.
The South African rand weakened in early trade on Wednesday as investors waited for the U.S. Federal Reserve's interest rate decision later in the day, watching for clues on the economic fallout from the Iran war as peace talks remain stalled. * At 0618 GMT the rand traded at 16.5550 against the dollar, about 0.2% down from its previous close.
* Carlsberg expects supply chain, commodity pressures from Iran crisis to last through 2026, CEO says. * First quarter volumes rose 2.8% organically, beating analyst forecasts. * Soft drink sales help offset weak beer demand, analyst calls results encouraging. By Emma Rumney.
Interest rate differentials tell a tale right now - and it's a complicated one. The euro/dollar exchange rate - the conduit for more than $2 trillion in daily currency market turnover and more than a fifth of global flows - remains the world's pivotal currency pair.
* Fed decision awaited, probably the last with Jerome Powell as chair. * US-Iran talks to end the war at an impasse, keeping markets nervous. * Traders on alert for intervention as yen nears 160 level. By Rae Wee.
Navios Maritime Partners L.P. (NMM), an international owner and operator of dry cargo and tanker vessels, announced today the approval of the listing application by Euronext Oslo B?rs of Navios Partners? senior unsecured bond issue with an initial issue amount of USD 300,000,000, within a framework of USD 500,000,000, and with ISIN NO0013685115 on Euronext Oslo B?rs.
Travel demand in China is expected to remain strong during the five-day Labour Day holiday from May 1, with travellers opting for domestic road trips and independent tours as higher fuel costs curb?demand for overseas holidays.
Oil prices soared on worries about prolonged supply disruption due to the Middle East war while Wall Street's stock indexes finished little changed on Wednesday ahead of high-profile earnings reports and after a divided Federal Reserve kept interest rates steady but muddied the outlook for easing.
Australian consumer prices surged in the first quarter as war in the Middle East drove up energy costs, while core inflation stayed uncomfortably high for policymakers, keeping pressure on for a rate hike next week. The consumer price index jumped 1.4% in the first quarter, the sharpest rise since late 2023, data from the Australian Bureau of Statistics showed on Wednesday.
China's factory activity likely grew at a slower pace in April as rising cost pressures stemming from the Middle East conflict test Beijing's reliance on manufacturing to underpin economic growth. The official manufacturing purchasing managers' index is expected to drop to 50.1 from 50.4 in March, according to the median forecast in a Reuters poll of 27 economists.
Gold was largely steady on
Wednesday as investors awaited U.S. Federal Reserve Chair Jerome
Powell's comments to assess the Iran war's impact on the economy
amid stalled peace talks.
The dollar strengthened against major currencies on Wednesday after the U.S. Federal Reserve left interest rates unchanged, with investors also on edge as the U.S.-Israel war with Iran shows little sign of easing. The Fed's 8-4 vote marked its most divided decision since 1992, underscoring the challenge incoming Fed Chair Kevin Warsh will face in pushing for rate cuts.
* Fed decision awaited, likely last under Chair Powell's leadership. * US-Iran talks to end the war in stalemate, keeping markets nervous. * Traders on alert for yen intervention risks as yen nears 160 level. By Rae Wee.
Inflation in most countries will be markedly higher this year than predicted three months ago amid a stalemate in the energy crisis brought about by the U.S.-Israeli war with Iran, according to a Reuters poll of around 500 economists, who barely altered their positive global growth view.
Edison International (EIX) beat expectations for first-quarter profit on Tuesday, as the utility benefited from higher electricity rates. U.S. power companies are seeking higher customer electricity rates, driven by surging demand from AI-focused data centers, increased domestic manufacturing and extreme weather events including wildfires.
Chile's central bank on Tuesday held its benchmark interest rate at 4.5% in a unanimous decision, in line with expectations and marking its third consecutive decision to maintain the rate. In a statement, Chile's central bank said the prolongation of the war in the Middle East was worsening forecasts for global inflation and economic activity, and increasing risks that oil prices will remain high.
Chile's central bank on Tuesday held its benchmark interest rate at 4.5% in a unanimous decision, in line with expectations and marking its third consecutive decision to maintain the rate. In a statement, Chile's central bank said the prolongation of the war in the Middle East was worsening forecasts for global inflation and economic activity, and increasing risks that oil prices will remain high.
The Federal Home Loan Bank of Dallas has released its 2025 Affordable Housing Advisory Council Annual Report, now available at fhlb.com. The report highlights a year of progress in addressing housing affordability challenges, strengthening homeownership pathways and advancing resiliency in its five?state District. This press release features multimedia.
U.S. tech stocks dived on Tuesday, slammed by worries over the sector's lofty growth expectations ahead of key earnings reports, while another rise in oil prices stoked concerns over central banks' ability to navigate the darkening outlook for growth and inflation. In my column today, I look at outgoing Fed Chair Jerome Powell's legacy.
* BOJ holds interest rates steady in split vote. * Euro, Swiss franc lose ground against dollar. * Dollar index edges higher after two-day losing streak ahead of Fed meeting. By Chibuike Oguh.
Medallion Financial Corp. (MFIN), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, announced today that it has completed a private placement of $75.0 million aggregate principal amount of senior unsecured notes to a group of institutional investors led by JP Morgan ...
Financial stocks edged higher late Tuesday afternoon, with the NYSE Financial Index rising 0.2% and the State Street Financial Select Sector SPDR ETF up 0.1%. The Philadelphia Housing Index was decreasing 1.3%, while the State Street Real Estate Select Sector SPDR ETF increased 0.7%. Bitcoin was falling 1.6% to $76,126, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.35%. In ...
Fitch, Moody's, and S&P were sent a letter from 23 GOP state attorneys general over the use of ESG factors related to fossil fuel in negative rating actions.
Financial stocks were advancing in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.2% and the State Street Financial Select Sector SPDR ETF up 0.1%. The Philadelphia Housing Index was decreasing 1.3%, and the State Street Real Estate Select Sector SPDR ETF increased 0.7%. Bitcoin was falling 1.6% to $76,126, and the yield for 10-year US Treasuries rose 1.8 basis points to...
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa? of Principal Life Insurance Company and Principal National Life Insurance Company. The ratings reflect Principal?s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and very strong enterprise risk management.
Top American companies from GM to Coca-Cola are trying to reassure investors they can weather the financial fallout from the Iran war, even as surging fuel and packaging costs threaten margins. Oil prices have jumped since the start of the conflict, driving up input costs across industries already pressured by U.S. tariffs.
Fitch Ratings cited Sacramento City Unified School District's fiscal challenges in downgrading its issuer default rating to junk and assigning a negative outlook.
Freddie Mac announced today that it plans to report its First Quarter 2026 financial results before the U.S. financial markets open on Thursday, April 30, 2026. The company will hold a webcast at 9 a.m. Eastern Time on Thursday, April 30, 2026, to publicly share the company?s results with the media. Freddie Mac?s mission is to make home possible for families across the nation.
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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