News
The financial stories that matter — explained simply.
UK two year fixed mortgage rates climb to 5.59 percent as swap rates rise again
Average two year fixes reached 5.59 percent and five year fixes 5.63 percent, reversing the summer easing as wholesale funding costs push higher.
Japanese bond yields hit 3 percent as Bank of Japan confronts global debt rout
Japan 10 year government bond yields touched 3 percent for the first time since 1996, dragging borrowing costs higher across the UK and US.
Diesel prices hit four year high as Middle East strikes squeeze global fuel supply
US diesel reached its highest level since mid 2022 and Brent crude climbed near 96 dollars, with European fuel stocks well below normal for the season.
Investors rotate into energy and value stocks as S&P 500 stalls below record high
The S&P 500 sits about 1 percent below its all time high as money shifts out of US growth shares and into energy, value and foreign markets.
Fed rate hike bets climb as 10 year Treasury yield reaches 4.79 percent
A far stronger than expected August jobs report has pushed traders toward pricing a US interest rate rise rather than the cut they expected weeks ago.
ECB poised to lift rates as eurozone inflation climbs to 3.3 percent
Eurozone inflation accelerated to 3.3 percent in August, the highest since September 2023, and markets now fully price a European Central Bank rate rise this month.
Gold price steadies near 4,500 dollars an ounce as rate hike bets cool
Gold traded close to 4,500 dollars an ounce on Friday after two sessions of gains, with silver at 66 dollars, though both remain below the records set in January.
Bank of Japan signals September rate rise as bond yields touch 1996 highs
Governor Kazuo Ueda said policymakers must pay closer attention to upside price risks, pointing to a rate rise this month as Japanese bond yields hit 30 year highs.
UK two year fixed mortgage rates hold at 4.48 percent as funding costs climb
The average two year fix stands at 4.48 percent and the five year at 5 percent, with lenders warning that recent cuts could be reversed as funding costs rise.
Lululemon slashes full year forecast as revenue falls and shares plunge 15 percent
The athletic wear retailer cut its full year revenue target by about 650 million dollars and now expects annual sales to shrink, sending the shares down 15 percent.
Brent crude slides to 97 dollars a barrel but stays 30 dollars above last year
Brent crude fell 2.48 dollars to 96.90 dollars a barrel on 4 September, easing inflation fears, though it remains about 30 dollars higher than a year ago.
UK gilt yields retreat from 19 year high as rate rise bets build
The ten year gilt yield eased to about 5.16 percent after touching 5.29 percent, the highest in 19 years, while markets fully price a UK rate rise by year end.
UK inflation set to peak near 3.6 percent this month as food prices climb
Forecasters expect UK headline inflation to top out around 3.6 percent in September, with food price inflation reaching about 4.6 percent as energy costs feed through.
Wall Street slips as strong jobs data lifts odds of a September rate rise
The S and P 500 fell 0.38 percent to 7,718.60 and the Dow lost 271 points after August payrolls came in three times higher than economists forecast.
US payrolls jump 162,000 in August as September rate rise bets hit 65 percent
American employers added 162,000 jobs in August, three times what economists expected, and traders now see a Federal Reserve rate rise this month as more likely than not.
US Payrolls Data Cools Again as Jobless Claims Rise and Fed Cut Bets Grow
Weekly jobless claims rose to 206,000 and ADP recorded just 38,000 private jobs added in August, both weaker than economists had forecast.
Bank of England Expected to Hold as UK Inflation Heads Back Above 3.5 Percent
Markets price an 86 percent chance the Bank leaves rates at 3.75 percent on 17 September, with energy costs pushing inflation up from 2.9 percent in July.
Brent Crude Holds Near 96 Dollars as Strait of Hormuz Disruption Drags On
Brent hovered above 96 dollars a barrel at six week highs as tanker traffic through the Strait of Hormuz fell by more than half against its recent average.
UK 30 Year Borrowing Costs Hit 28 Year High as Budget Pressure Builds
The 30 year gilt yield touched 5.89 percent, the highest since March 1998, roughly halving the fiscal room the Treasury has before the October Budget.
Wall Street Snaps Three Day Losing Streak as Dell Surges 13 Percent
The S and P 500 rose 0.46 percent to 7,666.60 with nine of eleven sectors higher, led by materials, as Dell jumped on raised full year guidance.
Wall Street rallies as traders cut odds of a September Fed rate hike
The Dow rose 624 points on Thursday and Treasury yields fell as investors trimmed their bets on a Federal Reserve rate rise this month.
UK borrowing costs hit 18 year high as gilt selloff tests Bank of England
Thirty year gilt yields reached 5.89 percent, the highest since 1998, as traders priced in almost two Bank of England rate rises before December.
UK food inflation set to reach 4.6 percent as energy shock feeds through
Food price inflation is forecast to hit 4.6 percent this month as higher energy costs reach shop shelves, with headline UK inflation heading above 3.5 percent.
Broadcom AI chip sales triple to 16.7 billion dollars in a single quarter
Broadcom reported quarterly revenue of 29.59 billion dollars and told investors it expects roughly 115 billion dollars of AI chip sales next financial year.
Brent crude nears 100 dollars a barrel as Iran conflict disrupts oil exports
Brent crude reached 99.38 dollars a barrel on Wednesday, roughly 31 dollars higher than a year ago, as renewed strikes disrupt Middle East shipping routes.