Kansas City Federal Reserve President Jeff Schmid said on Thursday he will remain "squarely focused" on inflation and the risk new U.S. import taxes could shift prices higher and feed into rising public inflation expectations.
* Indexes down: Dow 1.77%, S&P 500 2.25%, Nasdaq 2.67% * GM, Ford downgraded by brokerages UBS, Goldman Sachs. * March CPI at 2.4% YoY vs 2.6% estimate. By Shashwat Chauhan and Purvi Agarwal. April 10 - Wall Street's main indexes fell on Thursday, coming off a blistering rally following U.S. President Donald Trump's move to temporarily lower the heavy tariffs on dozens of countries.
* Yields fall as market stabilizes following selloff. * Consumer prices unexpectedly fall in March. * Treasury to sell $22 bln 30-year bonds. By Karen Brettell. U.S. Treasury yields dipped on Thursday, after a solid 10-year note auction and pause in some trade tariffs on Wednesday helped the market stabilize from a sharp bond market selloff earlier this week.
- Higher-than-expected tariffs would "very likely" raise both unemployment and inflation, Dallas Federal Reserve President Lorie Logan said on Thursday in remarks that made clear her most immediate concern is keeping inflation, and inflation expectations, in check.
- U.S. consumer prices unexpectedly fell in March, but inflation risks are tilted to the upside after President Donald Trump doubled down on tariffs on imported Chinese goods even as he lowered duties on other nations. The consumer price index dipped 0.1% last month after gaining 0.2% in February, the Labor Department said on Thursday.
-Traders on Thursday bet the U.S. Federal Reserve will resume cutting interest rates in June and probably deliver a full percentage point of reductions to its policy rate by the end of the year. after data showed inflation last month was softer than economists had expected.
The number of Americans filing new applications for unemployment benefits rose slightly last week and could trend higher as companies navigate President Donald Trump's tariffs on imports. Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 223,000 for the week ended April 5, the Labor Department said on Thursday.
Traders on Thursday bet the U.S. Federal Reserve will resume cutting interest rates in June and probably deliver a full percentage point of reductions to its policy rate by the end of the year. after data showed inflation last month was softer than economists had expected.
The number of Americans filing new applications for unemployment benefits rose slightly last week and could trend higher as companies navigate President Donald Trump's tariffs on imports. Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 223,000 for the week ended April 5, the Labor Department said on Thursday.
U.S. consumer prices unexpectedly fell in March, but inflation risks are tilted to the upside after President Donald Trump doubled down on tariffs on imported Chinese goods even as he lowered duties on other nations. The consumer price index dipped 0.1% last month after gaining 0.2% in February, the Labor Department's Bureau of Labor Statistics said on Thursday.
U.S. stock index futures pared their early losses on Thursday after a cooler-than-expected inflation reading bolstered expectations that the Federal Reserve would remain on track to cut interest rates this year. A Commerce Department report showed the consumer price index rose 2.4% in March on an annual basis, compared with expectations of a 2.6% rise, according to economists polled by Reuters.
Euro zone government bond yields rose on Thursday and markets scaled back their bets on European Central Bank rate cuts after the U.S. administration said it would temporarily lower U.S. tariffs to bring countries to the bargaining table. President Donald Trump's move eased immediate concerns about a sharp slowdown of the global economy and a recession in the United States.
Harvesh Seegolam, the former central bank governor of Mauritius, was charged with fraud on Thursday and released on bail, his lawyer said, a day after he was arrested alongside the former finance minister over alleged theft from a state company.
UBS Chairman Colm Kelleher on Thursday reiterated the Swiss bank's intention to repurchase shares to the tune of $3 billion in 2025, despite looming capital rule changes in the country and global economic uncertainty. The bank plans to repurchase $1 billion in shares in the first half of 2025 and up to an additional $2 billion in the second half of the year.
U.S. President Donald Trump's decision to pause the hefty duties he had said he would impose on dozens of countries one week ago followed turmoil in financial markets that included an acute selloff in the $29 trillion Treasury market. Trump said on Wednesday the bond market had recovered well after investors became queasy about it in reaction to his tariff announcements.
Australia's top central banker said on Thursday that it was still too early to decide on the path for interest rates, adding it needed to be patient as it assesses the economic impact of U.S. trade policies that have upended financial markets.
Australia's top central banker said on Thursday that it was still too early to decide on the path for interest rates, adding it needed to be patient as it assesses the economic impact of U.S. trade policies that have upended financial markets.
* Calm returns to U.S. Treasuries after Trump tariff pause. * Treasury market key to financial market stability. * Bond vigilantes back - analysts. U.S. President Donald Trump's decision to pause the hefty duties he had said he would impose on dozens of countries one week ago followed turmoil in financial markets that included an acute selloff in the $29 trillion Treasury market.
Greek industrial output declined by 0.1% year-on-year in February, after an upwardly revised 2.7% increase in January, data from statistics service ELSTAT showed on Thursday. A breakdown of index components showed manufacturing production rose 0.9% from the same month in 2024.
Taiwan state-backed bodies could over the next decade buy an extra $200 billion from the United States and bump up the percentage of LNG it gets from the county by one-third to help narrow the trade deficit, the economy minister said on Thursday.
* Taiwan economy minister eyes more LNG imports from US. * Taiwan foreign minister wants 'coalition' with US on trade. * Taiwan stocks rebound after three days of precipitous falls. * Taiwan central bank warns stock market uncertainty not lifted. By Ben Blanchard and Faith Hung.
U.S President Donald Trump's dramatic decision to pause hefty tariffs on dozens of countries was an important step towards stabilising the global economy, European Commission President Ursula von der Leyen said on Thursday.
Euro zone government bond yields jumped, spreads tightened, and markets scaled back their bets on European Central Bank rate cuts after the U.S. administration said it would temporarily lower U.S. tariffs to bring countries to the bargaining table. U.S. President Donald Trump's move eased concerns about a sharp slowdown of the global economy and a recession in the United States.
U.S President Donald Trump's dramatic decision to pause hefty tariffs on dozens of countries was an important step towards stabilising the global economy, European Commission President Ursula von der Leyen said on Thursday.
US President Donald Trump's policies in recent weeks have eroded confidence in the US dollar, European Central Bank policymaker Francois Villeroy de Galhau said on Thursday. Speaking on France Inter radio, Villeroy - who is also head of the Bank of France - said the protectionism and unpredictability of the Trump administration were "bad elements" for the US economy.
* Yuan weakens to lowest level since 2007. * Central bank lowers fixing for sixth session. * Bank opting for modest, gradual yuan depreciation. * Yuan weakness comes as Sino-US trade tension intensifies.
U.S. investment bank Goldman Sachs (GS) lowered its forecasts for China's GDP growth to 4% in 2025 and 3.5% in 2026 in a report published on Thursday, from 4.5% and 4.0% previously, citing the effects of tariffs.
* Masu, former CFO of Mitsubishi Corp (MSBHF), joins board July 1. * Masu succeeds dovish board member Nakamura. * Appointment may make board composition less dovish. By Makiko Yamazaki.
The searing selloff in Treasuries this week in response to tariffs caused dislocations in the world's biggest bond market, as hedge funds unwound some debt-fuelled bets and investors raised concerns about lasting damage to U.S. markets.
The searing selloff in Treasuries this week in response to tariffs caused dislocations in the world's biggest bond market, as hedge funds unwound some debt-fuelled bets and investors raised concerns about lasting damage to U.S. markets.
Planned U.S. tariffs could reduce Indonesia's potential growth by 0.3% to 0.5% of GDP, but a 90-day pause in implementing the levies allows time to discuss solutions, Indonesia's finance minister told Reuters on Thursday.
U.S. consumer prices unexpectedly fell in March, but inflation risks are tilted to the upside after President Donald Trump doubled down on tariffs on imported Chinese goods even as he lowered duties on other nations. The consumer price index dipped 0.1% last month after gaining 0.2% in February, the Labor Department's Bureau of Labor Statistics said on Thursday.
* Consumer price index forecast increasing 0.1% in March. * CPI estimated to have risen 2.6% year-on-year. * Core CPI seen gaining 0.3%; climbing 3.0% year-on-year. By Lucia Mutikani.
Ray Dalio, founder of the world's largest hedge fund, called for a U.S. deal with the Chinese on tariffs and said that the next goal for U.S. President Donald Trump's administration should be to cut the country's deficit to 3% of GDP.
* CPI falls in March, missing forecasts. * PPI falls at fastest pace in four months. * Deflationary pressures to deepen in months ahead, analyst says. China's consumer prices fell for the second straight month in March while factory-gate deflation worsened, as an escalating U.S. trade war heightened worries about mounting piles of unsold exports that could drive domestic prices even lower.
The Japanese government on Thursday nominated Kazuyuki Masu, a former chief financial officer of Mitsubishi Corp (MSBHF), to join the Bank of Japan's nine-member policy board. Masu would replace former Hitachi executive Toyoaki Nakamura, seen as among the most dovish members of the central bank's board.
China's consumer prices fell for the second straight month in March while producer deflation persisted, as caution grows over the economic outlook amid mounting tariff risks. The consumer price index dropped 0.1% last month from a year earlier, a slower pace than February's 0.7% decline, National Bureau of Statistics data showed on Thursday.
FITCH: * FITCH: BAHAMAS' RATINGS REFLECT HIGH GDP PER CAPITA AND STRONG GOVERNANCE. * FITCH: BAHAMAS RATINGS CONSTRAINED BY HIGH INTEREST & DEBT BURDENS RELATIVE TO PEERS Source text:
-Federal Reserve policymakers worry U.S. President Donald Trump's trade policy could deal a blow to economic growth, but are signaling they will not be quick to ride to the rescue with interest rate cuts because they expect higher tariffs to boost inflation.
* Musalem sees US growth below 2% trend, no recession. * Kashkari says hurdle to cut or hike rates is high. * Fed policymakers at March meeting worried about hard tradeoffs, minutes show. * Trump delivers reprieve on some tariffs, underscoring uncertainty for Fed. By Howard Schneider, Ann Saphir.
Argentina's industrial output rose 5.6% in February compared to the same month last year in non-seasonally adjusted terms, data from national statistics agency INDEC showed on Wednesday. February industrial output in South America's second-largest economy increased 0.5% compared to January in seasonally adjusted terms, according to the INDEC data.
* US Treasury yields pare gains after auction. * Trump tariff announcement drives stocks sharply higher. * Dollar up vs yen and other currencies. By Caroline Valetkevitch.
* U.S. corporate bond market quiets on tariff war, Treasury market volatility. * Bond spreads widen most in week after tariffs since first week of March 2023 regional bank stress. * Five to six companies stay on sidelines after volatility, syndicate banker says. By Matt Tracy.
-The Federal Reserve's decision to dramatically decelerate the pace of its balance sheet drawdown last month garnered broad support from policymakers, although there was more internal opposition to the shift than first understood, minutes from the central bank's latest meeting released on Wednesday showed.
* 19 meeting shows broad sense of higher inflation, slower growth. * Some Fed officials were concerned about difficult tradeoffs for the central bank. * Policymakers in March expected two rate cuts in 2025. By Howard Schneider.
* US Treasury yields pare gains after auction. * Trump announcement drives stocks sharply higher. By Caroline Valetkevitch. Major stock indexes shot higher on Wednesday, with the S&P 500 last up more than 6%, after U.S. President Donald Trump said he had authorized a 90-day pause on many of his new tariffs, effective immediately, even as he raised them on China.
- The World Trade Organization on Wednesday estimated the U.S.- China trade tensions could cut the trade of goods between two economies by as much as 80%. "This tit-for-tat approach between the world's two largest economies, which together account for roughly 3% of global trade, carries wider implications that could severely damage the global economic outlook," it said.
- The World Trade Organization on Wednesday estimated the U.S.- China trade tensions could cut the trade of goods between two economies by as much as 80%. "This tit-for-tat approach between the world's two largest economies, which together account for roughly 3% of global trade, carries wider implications that could severely damage the global economic outlook," it said.
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.
Line of Credit 
Publication Date