By Helen Jewell. The Middle East conflict has pushed oil above $100 a barrel, stoked inflation, dented growth and forced central banks back toward tightening. This unprecedented spending push could represent a long-term source of earnings support, especially for companies in the U.S. and Asia that provide much-needed memory and power. AI is also highly energy intensive. VALUATIONS IN PERSPECTIVE.
A selloff in the U.S. Treasury market has pushed long-term yields dangerously close to?and in some cases above?the 5% threshold, igniting an intense ideological battle among Wall Street's top macro minds over whether the global economy is entering a permanent structural shift or a temporary disruption.
* Traders see 39% chance of a 25-bp U.S. rate hike in December. * Fed minutes show more policymakers open to a rate hike. * Trump says negotiations with Iran in final stages. By Noel John. Gold edged lower on Thursday as higher Treasury yields and a firm dollar weighed on the metal, while hopes of a resolution to the U.S.-Iran conflict limited losses.
By Mike Dolan. For most households, the cost of money is part of the cost of living. For a variety of reasons, U.S. President Donald Trump has repeatedly demanded lower interest rates throughout his first and now second terms in office.
India's private sector growth eased in May as a manufacturing slowdown driven by the Middle East war and cooling international demand offset a marginal pick-up in the service economy, a survey showed.
* JAMIE DIMON SAYS INTEREST RATES COULD BE MUCH HIGHER FROM HERE - BLOOMBERG NEWS Source text: [ID:https://tinyurl.com/5dvfxsbp] Further company coverage:
* BOJ should raise rates at 'appropriate pace', Koeda says. * Koeda calls for attention to cost of negative real rates. * Koeda sees risk oil costs may stay high for prolonged period. * Inflation risks bigger than risk of Japan suffering recession. * Remarks suggest further hawkish shift in nine-member board. By Leika Kihara.
Molson Coors Beverage Company (TAP/A) announced today that it has priced its previously announced public offering of $1,500,000,000 aggregate principal amount of its senior notes, consisting of $500,000,000 aggregate principal amount of 4.900% Senior Notes due 2031 and $1,000,000,000 aggregate principal amount of 5.500% Senior Notes due 2036.
By Kevin Buckland. The U.S. dollar hovered below a six-week peak on Thursday after pulling back on rising hopes that Washington is nearing a deal with Tehran to end the war in the Middle East. The Australian dollar declined following a surprise rise in the unemployment rate to the highest since 2021, which lessened the case for higher interest rates.
Bank of Japan board member Junko Koeda said on Thursday the central bank should raise interest rates at an "appropriate pace" as underlying inflation may exceed its 2% target due to the prolonged conflict in the Middle East.
Australian employment unexpectedly fell in April while the jobless rate jumped to the highest level since late 2021, a possible sign the labour market might be loosening enough to stave off a near-term interest rate hike.
The U.S. dollar hovered below a six-week peak on Thursday after pulling back on hopes that Washington was nearing a deal with Tehran to end the war in the Middle East. The Australian dollar declined following a surprise rise in the unemployment rate to the highest point since 2021, which reduced the case for higher interest rates.
Japan's manufacturing activity slowed slightly in May, while service sector growth ground to a halt for the first time in over a year, as surging costs linked to the Middle East conflict weighed on confidence, a business survey showed on Thursday. -- The S&P Global flash Japan Manufacturing Purchasing Managers' Index fell to 54.5 in May, from 55.1 in April.
TORONTO, May 20, 2026 ?Hydro One Limited (HRNNF), Ontario's largest electricity transmission and distribution company, today announced that its wholly-owned subsidiary, Hydro One Inc., has priced an inaugural offering of US$1.0 billion aggregate principal amount of 4.750% senior notes due May 30, 2031?. The offering is expected to close on or about May 26, 2026, subject to customary closing conditions.
The U.S. Fed issued a revised proposal on the structure of payment accounts, taking the next step to build on an earlier pitch for so-called skinny accounts.
* Treasury yields fall while US stocks end up. * Oil prices drop sharply. * Nvidia (NVDA) shares down slightly after the bell following results. By Caroline Valetkevitch and Alun John.
Moody's Ratings on Wednesday downgraded Mexico's credit rating to "Baa3" from a prior level of "Baa2", and changed its outlook to stable from negative.
US equity indexes jumped at the close on Wednesday as government bond yields sank amid a slide in crude oil futures after President Donald Trump talked up expectations for an Iran peace agreement. The Nasdaq Composite advanced 1.6% to 26,270.36, with the S&P 500 up 1.1% to 7,432.97 and the Dow Jones Industrial Average higher by 1.3% to 50,009.35 on Wednesday.
US stocks rebounded Wednesday as traders parsed minutes of the Federal Reserve's latest monetary policy meeting, while Treasury yields slid. The Nasdaq Composite rose 1.5% to 26,270.4, while the S&P 500 advanced 1.1% to 7,433, both rising after a three-day fall.
The Toronto Stock Exchange on Wednesday recovered much of the 500-plus points lost over the prior two sessions as CIBC said "the bar to get the Bank of Canada into a tightening stance is higher than the market thinks", amid fears higher rates would lift borrowing costs for many companies and sideline them and consumers when they are needed to help spur the economy.
KBRA assigns a long-term rating of AA to the Department of Water and Power of the City of Los Angeles, CA Power System Revenue Bonds, 2026 Series B. The Outlook is Stable.
The U.S. Federal Reserve proposed Wednesday adopting a new, more limited form of a payment account that would allow firms like fintechs to move money across the Fed's payment rails without enjoying all the backstops available to traditional banks.
* Treasury yields retraced Tuesday gains after Trump says Iran deal near. * Treasuries have sold off as Iran war, high energy levels persist. * 20-year bond auction meets with somewhat soft demand. By Matt Tracy. May 20 - Yields on U.S. Treasuries on Wednesday retraced their previous day's gains, after President Donald Trump said deal talks with Iran were in their final stage.
Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index rising 1.7% and the State Street Financial Select Sector SPDR ETF adding 1.2%. The Philadelphia Housing Index was climbing up 3.6%, and the State Street Real Estate Select Sector SPDR ETF was up 1.1%. Bitcoin was increasing 1% to $77,510, and the yield for 10-year US Treasuries dropped 9.5 basis poin...
MINNEAPOLIS, May 20, 2026 Luminate Bank? proudly announced today that it is a recipient of two prestigious Freddie Mac Home Possible RISE Awards?, earning distinction in both the Home Possible Greatest Volume and Home Possible Fastest Growth categories.
AM Best has affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Ratings of ?bbb? and the Mexico National Scale Ratings of ?aa.MX? of CESCE M?xico, S.A. de C.V. and its affiliate, CESCE Fianzas M?xico, S.A. de C.V.. The outlook of these Credit Ratings is stable.
Federal Reserve officials flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the central bank's April meeting showed Wednesday.
Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index rising 1.7% and the State Street Financial Select Sector SPDR ETF adding 1.2%. The Philadelphia Housing Index was climbing up 3.6%, and the State Street Real Estate Select Sector SPDR ETF was up 1.1%. Bitcoin was increasing 1% to $77,510, and the yield for 10-year US Treasuries dropped 9.5 basis poin...
* Treasury yields fall while US stocks up. * Investors await Nvidia (NVDA) results after bell. * Oil prices drop sharply. By Caroline Valetkevitch and Alun John. U.S. Treasury yields and oil prices fell on Wednesday as hopes increased that the U.S. is nearing a deal with Iran to end the war in the Middle East, while major stock indexes rose ahead of closely watched results from Nvidia.
* Dollar falls as Iran deal hopes rise, Treasury yields drop. * Fed minutes show growing support for possible rate hike. * Yen in focus as it nears intervention zone. By Karen Brettell. The U.S. dollar retreated from a six-week high on Wednesday on rising hopes that the U.S. is nearing a deal with Iran to end the war in the Middle East.
Federal Reserve officials' concerns about inflation being stoked by the Iran war intensified last month, with a growing number open to a possible rate hike, in a sign that incoming Chair Kevin Warsh will inherit an increasingly hawkish crew of central bankers.
Citigroup Inc (C): * CITIGROUP SHAREHOLDERS MEETING BEGINS. * CITIGROUP CEO JANE FRASER SAYS U.S. CONSUMER CREDIT SHOWS BROAD RESILIENCY. * CITIGROUP CEO FRASER SAYS ASIAN ECONOMIES SHOWS THE HIGHER VULNERABILITIES TO HIGH FUEL PRICES. * CITIGROUP CEO FRASER SAYS MIDDLE EAST DYNAMICS STILL PRESENT SIGNIFICANT DOWNSIDE RISK TO GLOBAL ECONOMY.
A majority of FOMC participants appear to be leaning away from rate cuts for now and were open to the possibility of rate increases, minutes of the April 28-29 meeting released Wednesday showed.
AM Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating of B+, the Long-Term Issuer Credit Rating of ?bbb-? and the Mexico National Scale Rating of ?aa-.MX? of Armour Secure Insurance S.A. de C.V.. The Credit Ratings reflect Armour?s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, limited business...
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Missouri Valley Mutual Insurance Company.
* Fed policymakers see rising inflation risks, with rate hike possible. * April meeting saw four dissents, most since 1992, over policy direction. * Economists expectations shift toward no rate cuts. * Financial markets price in rate hike as Fed's next move. By Dan Burns.
Gold traded higher midafternoon Wednesday as treasury yields and the dollar fell. Gold for June delivery was last seen up US$25.90 to US$4,537.10 per ounce.
Financial stocks were higher in Wednesday afternoon trading, with the NYSE Financial Index rising 1.4% and the State Street Financial Select Sector SPDR ETF adding 0.9%. The Philadelphia Housing Index was climbing up 3.4%, and the State Street Real Estate Select Sector SPDR ETF was up 0.8%. Bitcoin was increasing 0.9% to $77,453, and the yield for 10-year US Treasuries was dropping 9 basis poin...
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 1.4% and the State Street Financial Select Sector SPDR ETF adding 0.9%. The Philadelphia Housing Index was climbing 3.4%, and the State Street Real Estate Select Sector SPDR ETF was up 0.8%. Bitcoin was increasing 0.9% to $77,453, and the yield for 10-year US Treasuries was dropping 9 basis poin...
The iShares 20+ Year Treasury Bond ETF??attracted $652.41 million in inflows on May 19, per Etf.com, signaling some investors are piling into long-duration Treasuries even with fears of higher inflation and interest rates driving yields up.
April's Canadian consumer price index print came in on the dovish side on Tuesday, which led investors to dial back the chance of an imminent rate hike by the Bank of Canada, said Deutsche Bank. That showed headline CPI "only" rising to 2.8% year over year in April versus 3.1% expected, noted the bank.
* Treasury yields fall while Nasdaq up more than 1% * Nvidia (NVDA) results after bell; Samsung workers set to strike. * Oil prices drop sharply. By Caroline Valetkevitch and Alun John.
UK shares closed higher on Wednesday after a softer-than-expected April inflation reading tempered some interest-rate-hike bets, while a drop in crude oil prices and stabilizing government bond yields also offered some respite.
European stock markets closed higher in Wednesday trading as the Stoxx Europe advanced 1.46%, Germany's DAX climbed 1.38%, the FTSE 100 rose 0.99%, France's CAC gained 1.7%, and the Swiss Market Index closed 0.26% higher. In the UK, the annual consumer price index rose 2.8% in the 12 months to April, down from 3.3% in March.
CIBC said its current rate forecast has both the Bank of Canada and the Federal Reserve on hold for an extended period, although it has penciled in a 25bps rate cut for the Fed in December conditional on an early end to the Iran war.
All three major US stock indexes were up in late-morning trading Wednesday, a day after a jump in long-dated US Treasury yields caused equities to retreat, and ahead of Nvidia's (NVDA) highly anticipated earnings results in the afternoon.
* US Treasury yield increase supports dollar as Fed rate hike odds rise. * Trump signals rate cuts unlikely until Iran conflict ends. * Yen nears intervention zone. By Karen Brettell. The U.S. dollar retreated from a six-week high on Wednesday on rising hopes that the U.S. is nearing a deal with Iran to end the war in the Middle East.
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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