Kevin Warsh, whose broad criticism of current U.S. Federal Reserve officials, playbook for rate cuts and ties to President Donald Trump elevated him past other contenders to lead the central bank, will be sworn in as Fed leader Friday at a pivotal moment for monetary?policy and the American economy.
* Warsh set for Friday morning swearing in at White House. * AI boom and external shocks complicate inflation outlook for Fed. * Warsh facing pressure from markets, colleagues, over rate decisions. * Fed's Waller, a key voice, updates views today. By Howard Schneider.
* PCE inflation gauge due on Thursday. * Salesforce (CRM), Costco, Best Buy (BBY) among reports due as robust Q1 comes to end. * Bond market selloff in view as Treasury yields hit milestones. By Lewis Krauskopf.
Societe Generale in its early Friday economic news summary pointed out: -- Risk tone positive, Brent closed below 50dma on Thursday. -- Japan headline consumer price index slows to 1.4% year over year in April. -- Day ahead: Federal Reserve speaker Waller. -- Nikkei +2.7%, EUR 10-year IRS -2.5bps at 3.10%, Brent crude +2.3% at US$104.9/barrel, Gold +0.15% at US$4,525/oz.
Fiscal support measures by euro zone governments that ease the pain of high energy prices should not contradict the European Central Bank's efforts to curb surging infltion8, the chairman of euro zone finance ministers Kyriakos Pierrakakis said. "We certainly all understand that we shouldn't contradict monetary policy.
U.S. stock index futures climbed on Friday as Treasury yields eased, lifting megacaps and chip stocks, though markets watched for signs of a breakthrough in discussions to end the Middle East war. Iran's foreign minister met the interior minister of Pakistan to discuss proposals to end the nearly three-month-old conflict, media reports said.
* Futures up: Dow 0.3%, S&P 500 0.31%, Nasdaq 0.5% U.S. stock index futures climbed on Friday as Treasury yields eased, lifting megacaps and chip stocks, though markets watched for signs of a breakthrough in discussions to end the Middle East war. Iran's foreign minister met the interior minister of Pakistan to discuss proposals to end the nearly three-month-old conflict, media reports said.
* Dollar holds near six-week high on U.S.-Iran uncertainty. * Traders see 41% chance of a 25-bp U.S. rate hike in December. * Trump to swear in Warsh as Fed chair on Friday. * All metals on track for weekly losses. By Noel John.
World markets remain at the mercy of diplomacy as the Iran war approaches the end of its third month with no clear resolution in sight. A host of central banks meanwhile brace for their next moves and inflation data piles the pressure on U.S. and Japan policymakers.
World markets remain at the mercy of diplomacy as the Iran war approaches the end of its third month with no clear resolution in sight. A host of central banks meanwhile brace for their next moves and inflation data piles the pressure on U.S. and Japan policymakers.
* APEC ministers responsible for trade to discuss supply chain resilience, digital trade, AI readiness. * China's record trade surplus and G7 calls for action on imbalances add to tension. * APEC Business Advisory Council urges pause on new trade curbs. * Japan's trade minister attends, marking highest-level visit since last year's diplomatic rift. By Nicoco Chan and Casey Hall.
Europe's push to curb its dependence on U.S. payments giants Visa and Mastercard (MA) has driven a wedge between the European Central Bank and financial firms keen to shield revenues, hobbling efforts to build a home-grown system, several people involved said.
Britain's FTSE 100 index is seen opening higher on Friday, with futures up 0.42%. * BT: Indian conglomerate Bharti Enterprises is seeking to potentially increase its stake in BT to just under the threshold that would require it to make a full takeover offer for the British telecoms group, three people familiar with the matter said.
Japanese government bonds were mixed on Friday, with optimism about a near-term end to the Iran war pulling longer-dated yields lower, while speculation for earlier Bank of Japan tightening lifted shorter-dated yields. Yields globally have been rising with the price of oil as the war stoked worries about inflation.
* US, Iran at odds on key issues. * Trump to swear in Warsh as Fed chair. * Silver heads for weekly gain. * Platinum, palladium face weekly losses. By Pablo Sinha. Gold edged lower on Friday, pressured by a stronger U.S. dollar and as elevated oil prices have raised expectations for interest rate hikes by the U.S. Federal Reserve. Spot gold was down 0.3% at $4,527.60 per ounce, as of 0411 GMT.
Nomura has joined a growing chorus of brokerages expecting the U.S. Federal Reserve to hold interest rates steady in 2026, citing persistent inflation and skepticism that policymakers will rally behind rate cuts.
Gold edged lower on Friday, on track for its second consecutive weekly loss, as higher oil prices and rising concerns around inflation and hawkish interest rates weighed on the metal.
* April core CPI rises 1.4% yr/yr vs forecast +1.7% * Index excluding fresh food, fuel rises 1.9% yr/yr. * Inflation seen re-accelerating on war-induced energy shock. By Leika Kihara.
Esentia Energy Development SA de CV : * ESENTIA ENERGY DEVELOPMENT SA DE CV - COMPLETES US$2 BILLION SENIOR UNSECURED NOTES OFFERING Source text: Further company coverage:
MEXICO CITY, May 21, 2026 ?ESENTIA Energy Development, S.A.B. de C.V.? today announced the successful settlement of US$2 billion senior unsecured 144A/Reg S notes offering. This transaction represents a pivotal milestone in ESENTIA's corporate evolution. "This is a defining moment for ESENTIA.
* April core CPI rises 1.4% yr/yr vs forecast +1.7% * Index excluding fresh food, fuel rises 1.9% yr/yr. * Inflation seen re-accelerating on war-induced energy shock. By Leika Kihara. Japan's core consumer prices rose 1.4% in April from a year earlier, data showed on Friday, marking the slowest annual pace in four years due largely to the effect of government subsidies on school tuition.
U.S. President Donald Trump will swear in Kevin Warsh as the chair of the Federal Reserve on Friday at the White House, the Trump administration said on Thursday. Warsh was confirmed to the role in a near party-line vote on May 13. Warsh, 56, will serve a four-year term as chair and a 14-year term as a Fed governor.
U.S. President Donald Trump will swear in Kevin Warsh as the chair of the Federal Reserve on Friday at the White House, the Trump administration said on Thursday. Warsh, 56, will serve a four-year term as chair and a 14 year term as a Fed governor.
KBRA assigns a long-term AA- rating to Miami-Dade County, Florida, Aviation Revenue Refunding Bonds, Series 2026A and Aviation Revenue Refunding Bonds Series 2026B issued for Miami International Airport.
Brazil's central bank said on Thursday it will offer up to $1 billion in two simultaneous dollar auctions with repurchase agreements on Friday. In a statement, the central bank said the auctions will start at 10:30 a.m. local time, and aim to roll over contracts maturing in June. The repurchases for the auctions are set for September 2 and November 4, according to the monetary authority.
Plaza Luna Lofts Will Focus on Adults 55 and Older. The Federal Home Loan Bank of Dallas, First National Bank Texas, NewLife Homes Inc. and local leaders today celebrated the groundbreaking of Plaza Luna Lofts, a housing development in Los Lunas, New Mexico, that will create 57 affordable apartment homes for adults 55 years and older. This press release features multimedia.
The market has seen a trend of "happy endings to each week, disappointing Mondays," according to James Pruskowski, managing director at Hennion & Walsh.
"We're going to have some weak days, we're going to have some stronger days, maybe they wash out against each other," said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.
Housing starts fell by 2.8% to a 1.465 million annual rate in April, with single-family housing starts lower but multi-family starts higher. Building permits rose by 5.8% to a 1.442 million rate in April, lifted by an increase in multi-family permits that more than offset a decline in single-family permits.
Weekly applications for unemployment insurance in the US decreased, while continuing claims moved higher, government data showed Thursday. For the week through May 16, the seasonally adjusted number of initial claims fell by 3,000 to 209,000, the Department of Labor said.
Financial stocks were mixed in Thursday afternoon trading, with the NYSE Financial Index fractionally lower and the State Street Financial Select Sector SPDR ETF up 0.2%. The Philadelphia Housing Index was down 0.1%, and the State Street Real Estate Select Sector SPDR ETF was shedding 0.2%. Bitcoin was rising 0.6% to $77,915, and the yield for 10-year US Treasuries was steady around 4.572%. In ...
Financial stocks edged lower in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each easing about 0.1%. The Philadelphia Housing Index was down 0.1%, and the State Street Real Estate Select Sector SPDR ETF was shedding 0.2%. Bitcoin was rising 0.6% to $77,915, and the yield for 10-year US Treasuries was steady around 4.572%. In cor...
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Nacional de Seguros S.A. Compa??a de Seguros Generales. The ratings reflect Nacional de Seguros? balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
KBRA assigns a long-term rating of AAA to the State of Maryland General Obligation Bonds, State and Local Facilities Loan of 2026, First Series Tax-Exempt Bonds and affirms the long-term rating of AAA for the State's outstanding General Obligation Bonds. Key Credit Considerations The rating actions reflect the following key credit considerations: Credit Positives. Credit Challenges.
Surging U.S. Treasury yields have prompted mortgage investors to hedge the loans in their portfolios by selling government debt, a shift?that probably exacerbated the bond selloff this week and added to the biggest rate spike in a year.
Broad Market Indicators. Broad-market exchange-traded fund IWM edged higher and IVV fell. US equity indexes fell, pressured by higher crude oil and Treasury yields, amid concern that Iran's nuclear ambitions could breach President Donald Trump's red lines. Energy. IShares US Energy ETF rose 0.1% and the State Street Energy Select Sector SPDR fell fractionally. Technology.
ITS Logistics, an Echo Global Logistics company, today released its May Supply Chain Report. ?U.S. inflation accelerated noticeably in April 2026, with the Consumer Price Index rising 3.8% year-over-year and 0.6% month-over-month ? the highest annual inflation rate since 2023,? said Stan Kolev, Chief Financial Officer at ITS Logistics.
US housing starts decreased less than estimated in April amid a jump in multi-family projects, while the single-unit component declined, government data showed Thursday. Starts fell 2.8% sequentially to a seasonally adjusted annual rate of 1.47 million units last month, according to the Census Bureau and the Department of Housing and Urban Development.
US equity indexes fell, pressured by higher crude oil and Treasury yields, amid concern that Iran's nuclear ambitions could breach President Donald Trump's red lines. The Nasdaq Composite fell by 0.5% to 26,136.5, with the S&P 500 down 0.4% to 7,404.4 and the Dow Jones Industrial Average lower by 0.2% to 49,888.2 in midday trading Thursday.
A major multiple-amended housing bill that is expected to expand the use of private activity bonds passes the House and bounces back to the Senate, but obstacles remain over provisions regulating institutional investors.
How businesses and consumers respond to ongoing economic shocks will determine if the U.S. Federal Reserve can "look through" current high inflation or needs to consider raising interest rates, Richmond Fed President Thomas Barkin said on Thursday.
How businesses and consumers respond to ongoing economic shocks will determine if the U.S. Federal Reserve can "look through" current high inflation or needs to consider raising interest rates, Richmond Fed President Thomas Barkin said on Thursday.
When Kevin Warsh takes command of the Federal Reserve, he will do so as some central bank officials and staff have become increasingly anxious about the state of the financial markets and the risk that presents to the economy.
The interest rate on the most popular U.S. home loan shot to its highest since August this week as yields on the government bonds most influential in setting residential borrowing costs have climbed on concern about the inflation being aggravated by the war with Iran.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.51%. ?The 30-year fixed-rate mortgage averaged 6.51% this week,? said Sam Khater, Freddie Mac?s Chief Economist. News Facts The PMMS? is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
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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