Ben Carter is a staff writer at P&L, covering markets, dealmaking, and public companies. He previously worked in equity research, focusing on valuation, earnings, and IPOs.
Brent crude climbed back above $109 a barrel as the 10-year Treasury yield hovered near 4.39 percent, stoking inflation and mortgage-rate pressure.
The UAE said it will leave OPEC after nearly six decades, freeing Abu Dhabi to manage extra output outside cartel quotas.
Four officials dissented, the most at a Fed meeting since October 1992, as the central bank held its benchmark rate at 3.5 percent to 3.75 percent.
Bank of Canada kept its policy rate at 2.25 percent as it expects inflation to peak near 3 percent in April.
Brent crude climbed back above $109 a barrel, sending the 10-year Treasury yield to 4.39 percent.
The UAE said it would raise output beyond OPEC limits in a gradual and measured manner.
Powell said he will stay on as a Fed governor after his chair term ends May 15.
The Bank of Canada now expects housing to shave 0.1 percentage point from 2026 GDP growth after earlier forecasting a 0.2-point boost.
The 30-year fixed mortgage rate climbed to 6.45 percent, its highest since April 3, after Trump said the U.S. blockade on Iran would stay in place.
The UAE said it will leave OPEC next month, removing about 12% of the cartel’s output before the war shock.
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The average 30-year fixed mortgage rate rose to 6.13 percent, the highest since April 14.
Consumer confidence rose to 92.8 in April, while the Conference Board’s labor-market differential improved to 7.5% from 6.1% in March.
