Sources: Saudi Arabia Cuts Oil Output by 20% Amid Iran War
Top oil exporter Saudi Arabia has cut oil production by some 2 million barrels per day to around 8 million bpd after reducing output from two major offshore fields amid the Iran war, two sources told Reuters. Middle East Gulf oil producers have had to shut vast volumes of...
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Fourth-quarter GDP revised down to just 0.7% growth; January core inflation was 3.1%
The PCE price index for January was expected to show headline inflation at 2.9% and core at 3.1%.
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War Costs Push Long-Term Bond Yields Higher on Deficit Fears
Investors are growing increasingly worried that the war involving the United States, Israel and Iran will drive government spending sharply higher and widen fiscal deficits - concerns that are pushing long-term bond yields higher worldwide, Bloomberg reports.
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As BlackRock, JP Morgan Block Fund Redemptions, Fears of Liquidity Crisis Grow
Mounting redemption pressures at some of the world's largest investment firms - including BlackRock, Blackstone, and banks such as JPMorgan Chase - are fueling growing concerns on Wall Street that the booming private-credit industry may be entering a period of serious...
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President Donald Trump on Thursday renewed his pressure campaign on Federal Reserve Chair Jerome Powell, demanding the central bank reduce interest rates immediately rather than wait for its next scheduled policy meeting.
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Bessent: No Price Would Make Iran War Unaffordable
U.S. Treasury Secretary Scott Bessent said "absolutely not" when asked Thursday whether there was a price that could cause him to confront President Donald Trump and say the Iran war was no longer affordable.
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