- Reuters
Futures slip as rate-cut uncertainty persists; data on tap
Rising bond yields typically reflect expectations for higher interest rates, which in turn means costlier financing and smaller profit margins for companies. Signs of persistent price pressures pushed the majority of market expectations for at least a 25-basis-point rate cut to the last two months of the year, according to the CME Group's FedWatch Tool. April's personal consumption expenditure report - the Fed's preferred inflation gauge, due on Friday - could sway bets on the timing of the central bank's first cut.
- Reuters
Royal Bank of Canada's profit rises on strength in domestic lending business
Though customer payments on mortgages, credit cards and other loans have shrunk, large banks still continue to benefit from elevated benchmark lending rates. RBC's personal and commercial banking unit's net income rose 7% to C$2.05 billion ($1.49 billion) in the reported quarter, primarily driven by higher net interest income, or the difference between what a bank earns on loans and pays on deposits. The gains were partially offset by larger loan loss provisions, or the capital lenders set aside to cover customers who are unable to pay back debt on mortgages and credit cards.
- The Independent
Political opponents unite to demand end of Turkish Cypriot isolation
Labour’s former foreign secretary Lord Straw and ex-Tory leader Sir Iain Duncan Smith head demanding direct flights are allowed to the unrecognised Turkish Republic of Northern Cyprus (TRNC)
