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RPT-REUTERS NEXT-Lower rates would likely eliminate the need for 50-year mortgage, Treasury adviser says
New York, Dec 3 (Reuters) - Lower interest rates would likely eliminate the need for a 50-year mortgage floated by President Donald Trump's administration to boost housing affordability, Joseph Lavorgna, a counselor to U.S. Treasury Secretary Scott Bessent, told Reuters NEXT on Wednesday.Lavorgn...Reuters
Wed, Dec 3
CORRECTED-US crude, gasoline and distillate stocks rise, EIA says
HOUSTON, Dec 3 - U.S. crude and fuel inventories rose last week, the Energy Information Administration said on Wednesday.Crude inventories rose by 574,000 barrels to 427.5 million barrels in the week ended November 28, the EIA said, compared with analysts' expectations in a Reuters poll for an 8...Reuters
Wed, Dec 3
Mexican government hikes minimum wage, pushes shorter work week
Minimum wage to rise 13% in 2026 in MexicoPresident Sheinbaum pushes back against concerns wage hike could fuel inflationGovernment outlines plan to cut work week to 40 hours by 2030By Brendan O'Boyle and Aida Pelaez-FernandezMEXICO CITY, Dec 3 (Reuters) - Mexico on Wednesday announced it would ...Reuters
Wed, Dec 3
EXPLAINER-Why is fate of Donetsk region a sticking point in talks on ending war in Ukraine?
By Andrew Osborn MOSCOW, Dec 3 (Reuters) - Talks between Russian President Vladimir Putin and U.S. envoys on Tuesday yielded no public breakthrough on a potential Ukraine peace deal, with Kremlin aide Yuri Ushakov suggesting unsolved "territorial problems" were the main stumbling block. H...Reuters
Wed, Dec 3
Bessent says Fed rate cuts needed, China making good on soybean purchases
By Andrea Shalal NEW YORK, Dec 3 (Reuters) - U.S. Treasury Secretary Scott Bessent on Wednesday expressed optimism about the economic outlook next year, but said interest rate cuts were still needed given a weakening in sectors including housing.Bessent also told the New York Times DealBook summi...Reuters
Wed, Dec 3
REUTERS NEXT-Citizens Bank sees resilient consumer finances and spending
By Saeed Azhar NEW YORK, Dec 3 (Reuters) - U.S. consumer finances remain broadly healthy, even though there are some signs of stress for borrowers with lower credit scores, Brendan Coughlin, president of Citizens Financial Group CFG.N, said on Wednesday."I don't see any macro signs of str...Reuters
Wed, Dec 3
REFILE-REUTERS NEXT-Lower rates would likely eliminate the need for 50-year mortgage, Treasury adviser says
New York, Dec 3 (Reuters) - Lower interest rates would likely eliminate the need for a 50-year mortgage floated by President Donald Trump's administration to boost housing affordability, Joseph Lavorgna, a counselor to U.S. Treasury Secretary Scott Bessent, told Reuters NEXT on Wednesday.Lavorgn...Reuters
Wed, Dec 3
TREASURIES-US yields slip as weak private sector jobs back Fed rate cut next week
Market to continue to focus on labor market weaknessUS services sector index flat; jobs index still in contractionUS 2/10 yield curve little changed, but still in steepening biasBy Gertrude Chavez-Dreyfuss NEW YORK, Dec 3 (Reuters) - U.S. Treasury yields fell on Wednesday after data showed a surp...Reuters
Wed, Dec 3
US Senate committee clears Boeing lawyer's stalled NLRB nomination
By Daniel Wiessner Dec 3 (Reuters) - A U.S. Senate committee on Wednesday approved President Donald Trump's nomination of Boeing's chief labor lawyer for a seat on the National Labor Relations Board, teeing up a confirmation vote that could restore the paralyzed board's ability to dec...Reuters
Wed, Dec 3
US Treasury’s Bessent: No one understands Fed's balance sheet
United States (US) Treasury Secretary Scott Bessent said that he would, going forward, press for the Fed's Board of Governors in Washington to veto appointments of candidates who have not satisfied that threshold at the New York Times DealBook Summit on Wednesday.Fxstreet
Wed, Dec 3
ECB’s Lagarde: Underlying inflation remains consistent
European Central Bank (ECB) President Christine Lagarde said that growth in economic activity should benefit from increased household spending and a resilient labor market, testifying before the Committee on Economic and Monetary Affairs of the European Parliament, in Brussels on Wednesday.
Fxstreet
Wed, Dec 3
REUTERS NEXT-Citizens Bank sees resilient consumer finances and spending
By Saeed Azhar NEW YORK, Dec 3 (Reuters) - U.S. consumer finances remain broadly healthy, even though there are some signs of stress for borrowers with lower credit scores, Brendan Coughlin, president of Citizens Financial Group, said on Wednesday."I don't see any macro signs of stress,&#...Reuters
Wed, Dec 3
Fitch Says Assigned Neutral Sector Outlook To U.S. State & Local Governments In 2026
Dec 3 (Reuters) - FITCH: FITCH: ASSIGNED NEUTRAL SECTOR OUTLOOK TO U.S. STATE AND LOCAL GOVERNMENTS IN 2026FITCH SAYS ECONOMIC PERFORMANCE OF U.S. STATE AND LOCAL GOVERNMENTS HAS EXCEEDED EXPECTATIONSFITCH: MOST US STATE, LOCAL GOVTS PROBABLY CAN ABSORB PRESSURES FROM SLOW LABOR MARKET, TARIFF DRIVE...Reuters
Wed, Dec 3
GBP outperforms G10 peers as risk appetite improves – Scotiabank
The Pound Sterling (GBP) is the day’s top G10 performer after Norwegian Krone (NOK), with sentiment-driven buying pushing GBP higher as risk reversals recover to late-August levels, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Fxstreet
Wed, Dec 3
US manufacturing production flat in September
WASHINGTON, Dec 3 (Reuters) - U.S. factory production was unchanged in September as manufacturing remained constrained by tariffs on imports.The flat reading in manufacturing output reported by the Federal Reserve on Wednesday followed an unrevised 0.1% gain in August. Economists polled by Reuters h...Reuters
Wed, Dec 3
US services little changed in November, but orders slow
ISM services PMI holds steady at 52.6, above forecastNew orders drop, backlog orders weak but improving Services employment contracts for sixth monthBy Lucia Mutikani WASHINGTON, Dec 3 (Reuters) - The U.S. services sector activity held steady in November, with employment still subdued and prices ...Reuters
Wed, Dec 3
