Whether it is high single-digit borrowing costs for large multinationals or double-digit financing costs for middle market firms, elevated interest rates have become a fact of life for firm managers. … READ MORE >
Economics
Existing home sales plunge amid stable jobless claims
March proved challenging for the housing market, as sales of existing homes plummeted by 4.3%, marking the steepest drop since November 2022. … READ MORE >
Industrial production rebounds as housing starts plunge
Housing starts dropped by 14.7% to 1.32 million on an annualized rate, the lowest level since last August. … READ MORE >
U.S. retail sales show surprising resilience
Total retail sales jumped 0.7% on the month, while February’s number was revised up to 0.9% from 0.6%. … READ MORE >
Geopolitical tensions and the rising oil risk premium threaten global recovery
Global oil markets are pricing in a risk premium of $7 to $10 a barrel in the wake of Iran’s drone attacks on Israel over the weekend, posing the single largest risk to the current global economic recovery. … READ MORE >
U.S. consumer sentiment falls as inflation stays sticky
The University of Michigan’s consumer sentiment index fell to 77.9 in April from 79.4, according to data released on Friday. … READ MORE >
Bank of Canada holds its rate at 5% in dovish statement
The Bank of Canada has signaled that it is ready to take the foot off the brakes in June as long as job and inflation numbers progress as expected. … READ MORE >
Hot inflation data dims prospects for a Fed rate cut in June
The year-ago consumer price index rose to 3.5% from 3.2% for overall inflation and stalled at 3.8% for the core inflation reading. … READ MORE >
Financial markets update: An improved outlook for corporate borrowing
With spreads on corporate bonds easing, borrowing by firms will bolster a sustained expansion and an economy that outperforms expectations this year. … READ MORE >
Bank of Canada preview: A dovish tone with rate cuts on horizon
The Bank of Canada will almost certainly leave its policy rate unchanged when it meets this week, but the tone of its statement will shift to dovish. … READ MORE >