Real-time News

Spanish Prime Minister Sánchez: The sovereign wealth fund will draw €10.5 billion from EU funds and raise €120 billion through private debt.

Federal Reserve Bank of Barkin: It's difficult to make judgments based on the data from the past three months.

Federal Reserve Chairman Barkin: The economy today has two engines: artificial intelligence and the rich.

Fitch: A 10% cap on annual interest rates for U.S. credit cards would significantly reduce the loss buffer for asset-backed securities.

Sources say that U.S. shale oil producers Devon Energy and Cotra Energy are in talks to merge.

NATO Secretary General: Speaks with Ukrainian President Zelensky about Russian attacks and Ukraine's energy situation.

On January 16th, data released by Freddie Mac showed that the average interest rate for a 30-year fixed-rate mortgage was 6.06%, down from 6.16% last week, marking a new low since September 2022. That was also the last time interest rates were below 6%. Lowering mortgage costs is a core objective of Trump's housing affordability plan. Interest rates fell after he announced a $200 billion mortgage-backed securities purchase program last week. Persistently high interest rates have caused potential buyers and sellers to hold off for years. In some ways, the buyer's situation has improved: inventory has increased slightly, home price increases have leveled off, and interest rates have fallen from around 7% in early 2025. However, many housing experts point out that mortgage costs must fall significantly to truly break the market deadlock. This is because few homeowners with low-interest loans are willing to sell their homes and take on higher interest rates to buy new ones.

Google: Introduces TranslateGemma – a new open-source translation model series built on Gemma 3, enabling people to communicate seamlessly in 55 languages.

Freddie Mac: U.S. mortgage rates fell to 6.06%, the lowest level since September 2022.

Federal Reserve's Barr: Inflation remains high, but the labor market has shown signs of stabilizing.

Federal Reserve's Barr: The Justice Department's investigation is an attack on the Fed's independence.

On January 16th, Trafigura, one of the major commodity traders assigned by Trump to sell Venezuelan oil, prepared to unload its first shipment after deploying a vessel off the coast of Curaçao. Curaçao Prime Minister Gilmar Pisas stated in a social media post that the "Regina," carrying oil for the trader, arrived on the island on Wednesday. Following Trump's move to control Venezuelan oil, the US government has leveraged the extensive logistical capabilities of Trafigura and Vitol to sell up to 50 million barrels of Venezuelan crude. The tanker's arrival in the Caribbean marks a next step in this process, with the region likely to become a transit point for exports.

Statoil: The underlying lawsuit challenging the U.S. Department of the Interior's December 22, 2025 moratorium order will continue.

January 16th - Canada's auto sector contracted sharply in November, battered by a global chip shortage, weak demand, and increasing pressure from the U.S. trade war. The sector dragged down broader merchandise activity. Statistics Canada reported on Thursday that overall manufacturing sales fell 1.2% in the month, while wholesale revenue declined 1.8%. Both figures missed expectations; economists had forecast a 1.1% decline in factory sales and a 0.1% increase in wholesale trade. The motor vehicle sector led the decline, with manufacturing sales plunging 15.9% in November, marking the second consecutive monthly drop and reaching its lowest level since October 2022. Statistics Canada stated that auto production at a major assembly plant was severely disrupted in November due to the global semiconductor shortage. This exacerbated the effects of weak demand and trade headwinds. The data suggests that the Canadian economy is under pressure from U.S. President Donald Trump's tariff policies, and the weakening momentum foreshadows a slowdown in Canadian growth in the fourth quarter.

January 16th - Affected by falling oil prices and shrinking natural gas exports, Russia's oil and gas sector revenue (a key source of funding) is projected to fall to its lowest point in five years by 2025. The Russian Finance Ministry stated on Thursday that the country's budget received 8.48 trillion rubles (approximately $108 billion) in oil and gas tax revenue last year. Historical data shows this figure represents a 24% decrease from 2024, the lowest level since 2020. As one of the world's top three oil producers and possessing the world's largest natural gas reserves, Russia heavily relies on tax revenue from these two sectors to replenish its treasury. With the Kremlin significantly increasing military spending (far exceeding original plans) to fund the upcoming fifth year, revenue has plummeted due to a combination of factors including weaker global oil prices, a stronger ruble, and energy sanctions. To bridge the widening gap between revenue and expenditure, the Moscow government has exhausted more than half of its National Welfare Fund (a buffer against economic shocks) and has turned to expensive loans with repayments expected over many years.

On January 16th, soybean oil futures surged as much as 3.8% as the market anticipated the Trump administration would release long-awaited U.S. biofuel blending quotas in March. The U.S. Environmental Protection Agency (EPA) stated last year that it would raise targets for so-called biodiesel, which can be made from soybean oil and other crop feedstocks, but traders have been awaiting final details. According to sources familiar with the matter, the plan may be finalized in the coming months. However, these sources also indicated that the timeline could still change. Analyst Brett Gibbs stated that if the increased targets are adopted, biodiesel production will increase significantly. He noted, "This has always been our preferred way to support biofuels and domestic crops."

The German Ministry of Economic Affairs has reached an agreement with the European Commission on a power plant strategy, which will be put out to tender in 2026 for new power plants with a total installed capacity of 12 gigawatts, most of which will be gas-fired power plants.

Shopify (SHOP.N) shares fell further to 3%.

The US Treasury auction for the four weeks ending January 15th yielded a winning bid of 3.595%, unchanged from the previous week.