Venezuela recovery: official optimism meets weak purchasing power
Venezuelans still buy little on credit as officials tout growth and oil output, while shuttered stores and protests show the recovery remains narrow.
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Fresh coverage on the economy, markets, and the forces moving money.
Nvidia record lifts market value past $5 trillion
Sarah Breeden said there is “a lot of risk out there and yet asset prices are at all-time highs,” warning that markets could adjust later.
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Gas shock sends U.S. consumer sentiment to record low
U.S. consumer sentiment sank to a record-low 49.8 in April as war-linked gasoline shocks and higher fuel prices weighed on households.
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Duluth mortgage rates stay flat amid national decline
Mortgage rates fell for a 3rd straight week nationally to 6.23%, but Duluth rates stayed flat as housing inventory remained tight.
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Consumer sentiment sinks to record low as inflation fears rise
U.S. consumer sentiment fell to 49.8, a record low, as inflation fears stayed high despite lower pressure on gas prices after the U.S.-Iran ceasefire.
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Bank of England warns on all-time-high asset prices
Sarah Breeden warned asset prices are at “all-time highs” even as “there’s a lot of risk out there,” including a possible shock in private credit.
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Freddie Mac: rate falls to about 6.23% on 30-year mortgage
Freddie Mac reported the 30-year fixed at 6.23%. Lenders saw purchase applications rise about 10% as refinance activity ticked up.
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U.S. consumer sentiment hits record low 49.8 in April amid Gulf fuel shock
The University of Michigan index fell to an all-time low of 49.8 in April as higher fuel costs tied to the Iran war hit household sentiment.
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Warsh proposes smaller Fed balance sheet
Nvidia's market value topped $5 trillion as Intel jumped 24% and investors crowded into AI infrastructure bets.
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Brent crude swings on Strait of Hormuz standoff
Brent crude fell 10% to $90 a barrel after Iran said the Strait of Hormuz was “completely open,” then rebounded 5% after an attack on an Indian tanker.
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Mortgage rates fall for third week to 6.23%, lowest since March 19
Mortgage rates fell for a 3rd straight week, with the average 30-year fixed loan at 6.23% and buyers getting a short-term lift in the spring housing market.
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U.S. consumer sentiment hits record low in April
Russia cut its key rate to 14.5% for the eighth straight time, even as the central bank flagged slowing demand, weak investment and “unfavourable weather conditions.”
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