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- Reuters
UPDATE 1-Markets price in less than three ECB rate cuts in 2024, Bund yield rises
The euro area benchmark Bund yield hit its highest in almost five months on Friday as demand for safe-haven assets receded, while investors reduced their bets on European Central Bank interest rate cuts after recent robust U.S. data. Markets now see fewer than three 25 basis point (bps) ECB rate cuts in 2024. Forwards on ECB euro short-term rates (ESTR) on Friday implied 72 bps of monetary easing from 85 bps early this week.
- Reuters
US EPA allows temporary expansion of higher-ethanol gasoline blend this summer
The U.S. Environmental Protection Agency will temporarily expand sales of higher-ethanol blends of gasoline this summer in an effort to reduce potential supply disruptions amid ongoing conflicts in Ukraine and the Middle East, it said in a letter dated Friday. The decision marks the third consecutive year the administration has lengthened the period during which Americans can keep buying E15, a gasoline that uses a 15% ethanol blend. Adding ethanol to gasoline is known to increase smog pollution in hot weather, but research has shown little difference between E15 and the more-widely available E10 blends.
- Reuters
Ukraine needs at least seven Patriot air defence systems, Zelenskiy tells NATO
President Volodymyr Zelenskiy told NATO members on Friday that Ukraine needed a minimum of seven Patriot or other high-end air defence systems to counter Russian air strikes, exhorting them to step up their military assistance for Kyiv. In an emotional speech by video link to the NATO-Ukraine Council, the Ukrainian leader described the current level of foreign aid as "very limited" and said Israel had not been left to fend for itself during Iran's massive air strike on Saturday.
Golf
The Woodlands, TX
80° F| Thru | Total | ||
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| F | -4 | |
| 8 | -4 | |
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| F | -3 | |
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| 10 | -3 | |
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| F | -2 |