Bonds & Stocks
Stocks fell in cautious trading after a week of sharp swings tied to the artificial-intelligence trade. The dollar slipped as Chinese regulators told banks to scale back holdings of US debt. The dollar fell 0.5%, supporting gold and silver. Bitcoin slipped toward $69,000.
Economy
Kevin Warsh floated plenty of ideas for how he would run the Federal Reserve during his campaign for the job as chair. For Wall Street, few are as cryptic — or potentially consequential — as his call for a new accord with the Treasury Department. Warsh has voiced support for overhauling the relationship between the two institutions with a new version of an agreement struck in 1951.
World
Brazil is returning to international debt markets following its busiest issuance year in more than two decades. Latin America’s largest economy is offering dollar bonds due in 2036 and re-tapping its existing notes due in 2056, according to a preliminary prospectus filed Monday.