Federal Reserve Bank of New York President John Williams reiterated on Wednesday that he does not believe the U.S. central bank needs to change the setting of short-term interest rates despite upside inflation risks tied to the Middle East war and other forces. "Monetary policy, I think, is exactly in the right place," Williams said in an interview on Yahoo Finance.
Federal Reserve Bank of New York President John Williams reiterated on Wednesday that he does not believe the U.S. central bank needs to change the setting of short-term interest rates despite upside inflation risks tied to the Middle East war and other forces. "Monetary policy, I think, is exactly in the right place," Williams said in an interview on Yahoo Finance.
Canada's Q1 gross domestic product weakness prompts UBS to lower its 2026 growth forecast to 1.0%, although the headline technical recession overstates the degree of underlying softness given volatile trade and inventory swings. While the picture isn't all negative, the bank has lowered its forecast for real GDP growth in 2026.
The Institute for Supply Management's US services index rose to a reading of 54.5 in May from 53.6 in April, compared with expectations for a smaller increase to a reading of 53.8 in a survey compiled by Bloomberg.
U.S. services sector activity picked up in May as businesses preemptively placed orders and rebuilt?inventories in anticipation of shortages and higher prices because of the war with Iran. The Institute for Supply Management said on Wednesday its nonmanufacturing purchasing managers index increased to 54.5 last month from 53.6 in April.
U.S. private payrolls increased broadly in May, but economists cautioned against viewing the rise as a sign of a strengthening labor market, noting that other indicators continued to point to stabilizing conditions. Private employment rose by 122,000 jobs last month after a downwardly revised 105,000 gain in April, the ADP national employment report showed on Wednesday.
Canada's services economy expanded at a modest pace in May as the Middle East conflict raised economic uncertainty and higher fuel prices contributed to the fastest increase in operating costs in four years, S&P ?Global's Canada services PMI data showed on Wednesday.
The economic instability of the last two decades ? marked by the 2008 global financial crisis, the 2020 COVID-19 pandemic, and subsequent surge in global inflation ? shattered a period of economic stability, and the collapse in global GDP per capita during 2020 was sharper than in any single year of World War I, World War II, or the Great Depression.
* US strikes near Hormuz. * US private payrolls increase in May, ADP says. * US NFP report due on Friday. By Ashitha Shivaprasad. Gold prices dipped on Wednesday, weighed down by expectations that war-driven inflation will keep interest rates elevated, while investors focused on developments in the Middle East and upcoming economic data.
ADP's monthly measure of private payrolls showed a 122,000 increase in May, slightly above expectations compiled by Bloomberg as of 7:30 am ET for an increase of 120,000.
TORRANCE, Calif., June 03, 2026 -- Virco Mfg. Largely because of the reduction in revenue and related lower factory output and overhead absorption, gross margin for the first quarter declined from 47.5% to 41.4%. Inventories have been adjusted to reflect current demand levels, declining 7.7% from $74.0 million last year to $68.3 million this year.
U.S. private payrolls increased broadly in May, but economists cautioned against viewing the rise as a sign of a strengthening labor market, noting that other indicators continued to point to stabilizing conditions. Private employment rose by 122,000 jobs last month after a downwardly revised 105,000 gain in April, the ADP national employment report showed on Wednesday.
U.S. private payrolls increased more than expected in May, the ADP's national employment report showed on Wednesday. The ADP report is jointly developed with the Stanford Digital Economy Lab, and was published ahead of the Bureau of Labor Statistics' more comprehensive and closely watched employment report for May on Friday.
ROSELAND, N.J., June 3, 2026 ?Private sector employment increased by 122,000 jobs in May and pay was up 4.4 percent year-over-year according to the May?ADP National Employment Report??produced by ADP Research in collaboration with the Stanford Digital Economy Lab.
Industrial production in Brazil rose 0.7% in April from March, government statistics agency IBGE said on Wednesday, marking the fourth consecutive monthly gain and beating the median estimate of a 0.4% rise in a Reuters poll. Output was up 2.7% year-on-year in April, IBGE added.
Celcuity (CELC) said Wednesday it plans to issue $400 million in convertible senior notes due 2032 through an underwritten public offering. The company said it intends to grant underwriters a 30-day option to purchase up to an additional $60 million of notes for over-allotments. Celcuity (CELC) said the terms, including interest and conversion rates, will be determined at pricing.
Euro zone government bond yields rose on Wednesday, with traders now pricing in a more than 50% probability of three European Central Bank rate hikes by year-end as U.S.-Iran peace talks stalled.
Celcuity Inc. (CELC), a clinical-stage biotechnology company focused on the development of targeted therapies for the treatment of multiple solid tumor indications, today announced a proposed underwritten public offering of $400,000,000 aggregate principal amount of its convertible senior notes due 2032.
The U.S. dollar is expected to stay range-bound in the near term before weakening later this year, FX strategists said in a Reuters survey, on optimism the Middle East war will end soon and its impact on inflation will be temporary. Since the conflict began three months ago, the dollar has tracked risk sentiment - rising on escalation and slipping as tensions eased.
SOLOWIN HOLDINGS (AXG), a leading financial technology firm bridging traditional and digital assets, today announced that AX Coin Bahrain B.S.C., the Company's stablecoin issuance entity and a key subsidiary, has been officially licensed by the Central Bank of Bahrain to carry out stablecoin issuer activities.
* UK services PMI falls to 49.3 in May from April's 52.7. * Drop is less than reported in initial flash data. * Firms raise prices at second-fastest rate since 2022. * BoE policymaker concerned at broad swathe of price increases. By Suban Abdulla and David Milliken.
The artificial-intelligence boom already has fueled a record stock-market surge. Meta Platforms, Oracle and other technology companies have raised $250 billion in debt markets globally this year, according to Morgan Stanley, borrowing at a scale that would have been hard to imagine only a few years ago.
Societe Generale in its early Wednesday economic news summary pointed out: -- Bond yields, US dollar carry over gains after the strongest gain in JOLTS job openings since April 21. -- ECB: European Central Bank Governing Council member Pierre Wunsch repeats case for June rate hike in FT, says if the U.S. and Iran agree to a peace deal, the discussion "might be a bit less easy.
The European Central Bank met commercial lenders last week to discuss the potential threat from the newest artificial intelligence models and will follow up with demands for practical defence measures, board member Frank Elderson said.
With the Iran war stretching into its fourth month, U.S. retail companies that have so far banked on a resilient consumer could face a tougher road ahead as rising gas prices and economic pain gradually erode the buffer.
Global economic growth may temporarily slow, Swiss National Bank Chairman Martin Schlegel said on Wednesday, citing increased uncertainty. Here are other details of what Schlegel mentioned at an event for the Swiss hospitality industry in Bern, according to the presentation slides.
Ghana's president and finance minister said on Wednesday that African debt was "mispriced" and there needed to be faster and fairer restructuring tools, adding that their country was targeting an investment-grade credit rating within three years. President John Dramani Mahama and Finance Minister Cassiel Ato Forson made the comments at an investor conference in London.
* Japan more exposed to spillover effects of inflation. * BOJ will keep raising rates at 'appropriate pace', Ueda says. * Ueda signals rate-hike chance even if Iran uncertainty remains. * Delaying rate hike may inflict huge burden on economy. * Speech heightens chance of June rate hike, analysts say. By Leika Kihara.
* Sberbank raises 2026 commodity exports revenue forecast. * Sberbank forecasts 2026 GDP growth at between 0.5% and 1% * Sberbank expects central bank to accelerate rate cuts. By Gleb Bryanski and Elena Fabrichnaya.
Cemex priced a $1.5 billion offering of its 5.75% senior notes due June 5, 2036, at 99.572% of face value, the company said late Tuesday. Cemex expects the offering to close Friday and plans to use the net proceeds for general corporate purposes. MT Newswires does not provide investment advice.
* Euro zone composite PMI at 18-month low of 48.5 in May. * Price pressures worst in over three years. * Services reading edged up but remained in contractionary territory. * Data point to 0.2% quarterly GDP decline in second quarter - S&P Global.
IQVIA (IQV) plans to raise 950 million euros through an offering of senior notes due 2033, the company said Wednesday. The proceeds from the debt offering will be used to refinance other debt, the company said. MT Newswires does not provide investment advice.
* Global growth seen at 2.8% in 2026, 3.1% in 2027. * U.S. growth seen easing to 2.0% in 2026, 1.8% in 2027. * Global outlook weakens if war persists into 2027. By Leigh Thomas.
India's dominant services sector grew at its fastest pace in six months in May on a pick-up in domestic demand, even though global orders stayed below last year's average and business confidence slipped for a second straight month, a survey showed.
A peace deal between the US and Iran before next week's European Central Bank meeting would not derail the case for raising interest rates, Belgian central bank chief Pierre Wunsch told the Financial Times in an interview published on Wednesday. "If a peace deal is confirmed just before the meeting, it will be part of the discussion.
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.
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.
The status of the war in Iran is confusing, Hennion & Walsh's James Pruskowski said, but high absolute rates are giving the muni market a strong start to June.
Issuers using cash basis accounting pay a yield premium to sell bonds, according to a new paper, and their bonds are less likely to trade in the secondary.
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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