Minutes from the latest FOMC meeting show most policymakers expect to cut interest rates further this year, citing a softening labor market and reduced upside risks to inflation. The tone reinforces market expectations for additional easing into year-end, even as officials stressed vigilance over lingering price pressures.
Source: MarketWatch
CBO pegs U.S. FY2025 deficit at $1.8T — narrower, but still historically large
The Congressional Budget Office estimates the federal deficit narrowed slightly to $1.8 trillion in fiscal 2025. The elevated shortfall keeps Treasury supply in focus and could complicate rate and growth dynamics heading into year-end budget debates.
Source: Seeking Alpha
Gold breaks $4,000 as safe-haven demand surges
Spot gold touched $4,000 in Asian trading, propelled by record ETF inflows, persistent geopolitical risk, and concerns over debt and inflation. The move underscores investors’ growing preference for hard assets even as equities hover near highs.
Source: MarketWatch
HSBC moves to privatize Hang Seng Bank at 30% premium
HSBC proposed to take Hang Seng Bank private at HK$155 per share in cash, a 30% premium to the prior close. The offer would cancel outstanding shares and streamline HSBC’s Hong Kong footprint as Hang Seng grapples with rising property-related impairments.
Source: South China Morning Post
Alphabet to invest $5.8B in cloud and AI infrastructure in Belgium
Google parent Alphabet plans to spend $5.8 billion over the next two years to expand cloud and AI capacity in Belgium. The investment adds to a wave of hyperscaler capex in Europe, aimed at meeting demand from generative AI workloads and enterprise cloud adoption.
Source: Seeking Alpha
Novo Nordisk to acquire Akero Therapeutics in deal worth up to $5.2B
Novo Nordisk agreed to buy Akero Therapeutics for up to $5.2 billion, expanding its pipeline in metabolic and liver disease to complement its obesity franchise. The transaction highlights continuing big pharma M&A as cash-rich acquirers seek late-stage assets.
Source: Seeking Alpha
EIA lifts U.S. oil output outlook to 13.5M bpd for 2025–26
The U.S. Energy Information Administration raised its crude production forecast to a record 13.5 million barrels per day across 2025–26, even as it expects a short-term dip. Higher U.S. supply and a Gaza ceasefire easing geopolitical risk helped keep Brent near the mid-$60s.
Source: Seeking Alpha
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