Oil surges to session highs as U.S. conducts more military strikes against Iran

If nothing else, this morning offers confirmation of just how nervous the market is about inflation. The producer price index barely beat its forecast (in fact y/y CORE PPI was on the screws), but this was enough for bonds to add on to modest overnight gains in a modestly enthusiastic way.  We almost never see…

“As our business continues to grow and evolve, investing in strong leadership remains a priority,” said Marchand. “Lior’s experience, perspective, and passion for the advisor business will be invaluable as we continue enhancing the experience we deliver to advisors and clients.” A broader leadership realignment The appointment is part of a wider restructuring of Manulife…

SEOUL, SOUTH KOREA – AUGUST 7: (L to R) Col. Lee Sung-jun, public affairs director of South Korea’s Joint Chiefs of Staff and Col. Ryan Donald, public affairs director of the United Nations Command (UNC), Combined Forces Command (CFC), and United States Forces Korea (USFK) bump fists during the press briefing for the Ulchi Freedom…

First-time buyers are encountering increased financial pressure from rising mortgage rates and deposit requirements, according to analysis from financial data company Moneyfacts. The average new mortgage rate now stands at 5.59%, up from 5.47% at the start of July and 4.90% in March. Buyers with low deposits are now being charged more than 6% on…

Technology giants with an edge in artificial intelligence (AI) have dominated equity market returns in recent years, but enthusiasm is slowing down with chip stocks looking jittery as competition heats up. There have also been warnings of a potential AI bubble, but as yet, the jury remains out over which companies will emerge the longer-term…

Foreclosures slowed to a crawl in the years during and after the COVID-19 pandemic due to moratoriums and lingering emergency loss mitigation programs rolled out to help keep struggling borrowers in their homes as workplace shutdowns and unemployment spiked. While the pace of foreclosure starts in May was 35% below May 2019 levels, according to…