EUR/USD
1.12582
0.347%
Gold
4184.40
0.333%
Oil
95.686
-0.419%
USD/JPY
157.746
-0.146%
GBP/USD
1.33585
0.628%
GBP/JPY
210.730
0.465%
Real-time News
California Governor Gavin Newsom: The Bryson fire is 17% contained.On October 16th, the Bank of Italy raised its economic growth forecast for the country, aligning it with the projections of Prime Minister Melonis government. In its latest economic bulletin, the Bank of Italy stated, "The upward revision of the 2026 economic growth forecast is mainly due to the weaker impact of the Middle East crisis in the first two quarters of this year compared to the June forecast, coupled with strong performance in investments related to digitalization and energy transition, and a positive trend in the summer tourism industry." The Bank of Italy expects the economy to grow by 0.9% this year, adjusted for working days, higher than the 0.5% forecast in June. Unadjusted growth is expected to reach as high as 1%, consistent with the governments forecast. The Bank of Italy stated that planned defense and energy spending will help drive economic growth. The economy is projected to grow by 0.7% and 0.8% in 2027 and 2028, respectively.On October 16th, Bank of America launched an investment-grade bond issuance, becoming the third major Wall Street bank this week to enter the volatile bond market after releasing its third-quarter results. According to a source with direct knowledge of the matter, Bank of America is promoting up to four different bond maturities, ranging from 3 to 11 years. The longest-term bond has an initial price that is approximately 1.2 percentage points higher than U.S. Treasury bonds. This unusual Friday bond issuance comes at a time when several companies have postponed the issuance of high-grade bonds in recent days. Stronger-than-expected inflation data and market concerns about artificial intelligence transactions have caused volatility in U.S. Treasury yields, prompting companies to postpone their financing plans. Bank of America is the only one of the Big Six Wall Street banks that did not enter the bond market in the third quarter, raising only $17 billion so far this year, the fewest among the Big Six. The banks most recent bond issuance was in April of this year, when it raised $10 billion.The Philadelphia Semiconductor Index fell nearly 2%, marking its eighth consecutive day of decline and setting the stage for its longest losing streak since May 2006.Swedish Prime Minister Christophe Kristsson: Funding must be found for Ukraine.
