China's services activity expanded at the fastest pace in three months in May, helped by stronger growth in new business and a rebound in overseas demand, though rising cost pressures weighed on firms, a private-sector survey showed on Wednesday.
* New business and export demand drive fastest services growth in three months. * Service providers add jobs as outstanding business rises. * Input cost inflation hits highest since October 2024.
Japanese government bond yields rose across the curve on Wednesday, supported by firmer Bank of Japan rate-hike expectations and a global backdrop of elevated yields. Here are a few details: * The benchmark 10-year JGB yield climbed 2 basis points to 2.585%. Yields move inversely to bond prices.
Bank of Japan Governor Kazuo Ueda will deliver a closely watched speech on Wednesday that could reveal his thinking on the prospects of a June rate hike, as surging fuel costs from the Iran war broaden price pressures in an already fragile economy.
Japan's services sector ground to a halt in May after more than a year of expansion, as surging costs linked to the Middle East war dampened service demand and led to a 12-year high in output price inflation, a private survey showed on Tuesday. * The S&P Global final Japan Services Purchasing Managers' Index fell to 50.0 in May from 51.0 in April, marking the end of a 13-month expansion streak.
* Japan spent 11.7 trillion yen on largest intervention over one month. * Finance Minister Satsuki Katayama signals readiness to act on FX. * Yen erases gains from intervention, touching 160 per dollar. By Makiko Yamazaki and Rocky Swift.
Federal Reserve Chairman Kevin Warsh pledged to follow "the best of the Fed's traditions" in an opening note to the central bank's more than 20,000 employees as he starts his four-year term, while also promising a broad look at what might be done differently.
Federal Reserve Chair Kevin Warsh has tapped two conservative policy veterans, Paul Winfree and Daniel Heil, to advise him while he settles into the job, the Wall Street Journal reported on Tuesday, citing sources.
J-Star Holding Co., Ltd. (YMAT) today outlines foundational milestones supporting its proposed $122.5 million solid-state battery manufacturing facility in Baytown, Texas: a Taiwan Central Bank authorization supporting a proposed $60 million outbound investment, and a formal site commitment from the Baytown West Chambers County Economic Development Foundation.
Based on data from the Real Estate Board of Greater Vancouver, National Bank of Canada's preliminary estimate is that seasonally adjusted home sales edged up 0.5% from April to May, the first increase in three months.
SHERIDAN, Wyo. Growing globalization, cross-border e-commerce, and expanding international trade volumes are driving strong growth in the freight forwarding market, according to Mayur Jain, Market Research Expert at Wissen Research.
* Bank of Israel chief cites falling oil prices, stronger shekel as drivers of lower inflation. * Business leaders criticize high rates, say strong shekel harms economy. * Yaron says economy resilient post-conflict, main drag from labour supply constraints. By Steven Scheer.
Federal Reserve Bank of Cleveland President Beth Hammack warned on Tuesday that even an imminent end to the Middle East war will result in extended disruptions to the economy.
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Cleveland Federal Reserve President Beth Hammack said on Tuesday the U.S. central bank may need to raise interest rates soon should already-high inflation pressures continue to mount.
Home price growth continues slow and steady year-over-year growth in April 2026. IRVINE, Calif. This press release features multimedia. ?Market strength suggests that some buyers remain insulated from mortgage-rate volatility and are supported by substantial home equity and stock market gains,? said Cotality Chief Economist Dr. Selma Hepp.
While 70% of consumers trust nonprofit credit counseling, nearly half are unaware of the most effective solution for the $1.3 trillion national debt crisis: The Debt Management Program. FORT LAUDERDALE, Fla. Awareness and Trust Gap Collide Most respondents view nonprofit agencies as trustworthy, but they still rely on web searches or personal networks for advice.
Israel's short-term interest rates could fall at a faster pace if inflation continues to ease, Bank of Israel Governor Amir Yaron said on Tuesday. Yaron, speaking at an Israel Democracy Institute conference, noted that since the last interest rates decision on May 25, expectations of a ceasefire deal with Iran have increased, leading to lower energy prices and a stronger shekel versus the dollar.
* Investors monitor US-Iran talks, await key US economic data. * Federal Reserve policy outlook remains central to dollar direction. * Yen drifts toward 160 per dollar, heightening intervention risk. By Stefano Rebaudo.
* Investors monitor US-Iran talks, await key US economic data. * Federal Reserve policy outlook remains central to dollar direction. * Yen drifts toward 160 per dollar, heightening intervention risk. By Stefano Rebaudo and Satoshi Sugiyama.
The Iran energy story may be masking a bigger inflation worry. Everyone, not least the major central banks, is watching every twitch of crude prices around the Iran conflict for the cost-of-living hit. This whopping business investment outlay is expected to exceed $800 billion this year alone and run into the trillions over the years ahead.
The Bank of Japan should lay out a clear path for policy normalisation after a widely expected rate hike this month to stabilise the bond market, Sumitomo Mitsui Financial Group's (SMFG) global markets chief, Arihiro Nagata, told Reuters.
* Surging stock markets boost U.S. luxury spending. * Luxury groups report stronger sales growth in U.S. than elsewhere. * Brands stage fashion shows in New York and Los Angeles. * North America leads the world in luxury store openings. By Elisa Anzolin and Helen Reid.
The Bank of Japan should lay out a clear path for policy normalisation after a widely expected rate hike this month to stabilise the bond market, Sumitomo Mitsui Financial Group's (SMFG) global markets chief, Arihiro Nagata, told Reuters.
Bank of Canada Senior Deputy Governor Carolyn Rogers cautioned against concluding the country is in a recession after recent data showed the economy contracted for a second consecutive quarter, Bloomberg is reporting Monday. "Two quarters of annualized contraction in GDP does meet one definition of a recession.
Bank of Canada Senior Deputy Governor Carolyn Rogers cautioned against concluding the country is in a recession after recent data showed the economy contracted for a second consecutive quarter, Bloomberg is reporting Monday. "Two quarters of annualized contraction in GDP does meet one definition of a recession.
* Iran and US carry out strikes. * Series of US jobs data due this week. * Palladium is moving towards balance, Morgan Stanley says. By Ashitha Shivaprasad. Gold prices fell on Monday as escalating tensions in the Middle East heightened inflation concerns and reinforced expectations that central banks may keep monetary policy tighter for longer.
* Manufacturing PMI increases 1.3 points to 54.0 in May. * Supplier delivery performance slows for sixth consecutive month. * Iran war dominates comments from manufacturers, with many complaining about negative impact on supply chains. By Lucia Mutikani.
The US manufacturing sector expanded to its highest level in four years last month amid strength in demand and production, though price pressures remained elevated, two separate surveys showed Monday. The Institute for Supply Management's purchasing managers' index increased to 54 in May from 52.7 the month prior, reaching its highest reading since May 2022.
The Bank of Canada on Monday cautioned against putting too much weight on recent GDP data which showed two consecutive quarters of decline on an annualized basis. Senior deputy governor Carolyn Rogers said while two quarters of annualized contraction in GDP did meet one definition of a recession, the April advance estimate showed the economy most likely rebounded.
Friday's Q1 gross domestic product figures in Canada, including revisions, stunned everyone in consensus and at the Bank of Canada, said Scotiabank. Consensus had forecast about 1.5% quarter-over-quarter seasonally adjusted annual rate growth with a trimmed range between about 1% to 2% and the BoC's projection in the April Monetary Policy Report was 1.5%, noted the bank.
Canada's Q1 gross domestic product didn't just underperform expectations as it was "outright terrible," falling by 0.1% quarter-over-quarter annualized, said Rosenberg Research after Friday's GDP data. The consensus expectation was for a gain of 1.5%, due largely to an expected rebound in inventories after a large drawdown in Q4. Yet, GDP still fell, noted Rosenberg Research.
Private sector analysts
polled by Mexico's central bank slightly raised nearly all
forecasts for inflation this year and next, while trimming their
economic growth estimates, the bank said on ...
U.S. construction spending increased more than expected in April, boosted by single-family homebuilding, though rising mortgage rates amid the war with Iran continued to cast a shadow over the housing market. The Commerce Department's Census Bureau said on Monday that construction spending rose 0.4% after a downwardly revised 0.2% increase in March.
The Canadian Labour Force Survey this week will draw close scrutiny after it emerged that on Friday the economy slipped into a technical recession for the first time since 2020, said Societe Generale. Canada will release the LFS for May this Friday, at 8:30 a.m. ET.
U.S. construction spending increased more than expected in April, boosted by single-family homebuilding, though rising mortgage rates amid the war with Iran continued to cast a shadow over the housing market. The Commerce Department's Census Bureau said on Monday that construction spending rose 0.4% after a downwardly revised 0.2% increase in March.
The Institute for Supply Management's US manufacturing index rose to 54.0 in May from 52.7 in April, compared with expectations for a smaller increase to 53.0 reading in a survey compiled by Bloomberg as of 7:30 am ET. The index indicates faster expansion, and it is the highest reading since May 2022.
US construction spending rose by 0.4% in April, compared with a 0.3% increase expected in a survey compiled by Bloomberg and following a downwardly revised 0.2% increase in March.
U.S. manufacturing activity increased more than expected in May, hitting the highest level in four years, likely driven by businesses front-loading orders amid rising prices and shortages because of the war with Iran.
U.S. manufacturing activity increased more than expected in May, hitting the highest level in four years, likely driven by businesses front-loading orders amid rising prices and shortages because of the war with Iran. Manufacturing has now grown for five straight months, anchored mostly by an artificial intelligence spending spree.
New Orders Growing; Production Growing; Employment Contracting; Supplier Deliveries Slowing; Raw Materials Inventories Contracting; Customers' Inventories Too Low; Prices Increasing; Imports Growing; Exports Growing. TEMPE, Ariz. The report was issued today by Susan Spence, MBA, Chair of the Institute for Supply Management?? Manufacturing Business Survey Committee.
Canada's manufacturing sector growth was sustained in May as output, new orders and employment all increased, said S&P Global on Monday. The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers' Index, a composite index designed to provide a summary of operating conditions in manufacturing, remained in positive territory during May for a second successive month.
The Bank of Canada's Financial Stability Report of last week highlighted warning signs for the economy, especially from the housing sector, overextended asset valuations, and global turbulence, says Rosenberg Research.
Canada's manufacturing sector expanded for a second straight month in May as the potential for higher prices and product shortages due to the war in the Middle East likely boosted client demand, data showed on Monday. The ?S&P Global Canada Manufacturing Purchasing Managers' Index edged down to 52.9 last month from 53.3 in April.
* Iran and US carry out strikes. * Series of US jobs data due this week. * Palladium is moving towards balance - Morgan Stanley. By Ashitha Shivaprasad. Gold prices slipped on Monday as fresh strikes between Iran and the United States heightened inflation concerns and reinforced expectations that central banks may keep monetary policy tighter for longer.
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.
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