Bonds & Stocks
A slew of data showing the US economy is holding up drove stocks higher as bonds fell, with traders awaiting minutes of the last Fed meeting for clues on the timing of rate cuts. Oil jumped.
Economy
Forecasters expect Friday’s report on GDP to show the economy expanded 2.7% in 2025, a solid pace for a developed country. But employment barely grew, and the combination is drawing comparisons to the infamous “jobless recovery” of the early 2000s that followed the tech bubble and collapse.
World
Christine Lagarde will step down from her role as European Central Bank president before her term ends in October 2027, the Financial Times reported Wednesday, allowing President Emmanuel Macron to help find a replacement ahead of French elections.