Real-time News

1. Federal Reserve's Daly: If the Iran conflict is resolved quickly and oil prices fall, a rate cut is "not impossible." He believes the possibility of a rate hike is lower than a rate cut or maintaining the current rate. The real question is whether the ceasefire can last; if it does, then the CPI data is irrelevant. 2. Data from the U.S. Labor Department on Friday showed that the March CPI rose 3.3% year-on-year, significantly higher than February's 2.4%. Core inflation, excluding food and energy, rose 2.6%, slightly below the market expectation of 2.7%. Energy prices rose 12.5% year-on-year in March, a significant acceleration from February's 0.5%. Gasoline prices rose 18.9%, and fuel oil rose 44.2%. The report reflects the impact of the Iran war on U.S. inflation for the first time. The closure of the Strait of Hormuz disrupted shipping and pushed up crude oil and gasoline prices last month. 3. U.S. Bureau of Labor Statistics: Seasonally adjusted energy inflation in the U.S. rose 10.9% month-on-month in March, the largest increase since September 2005; unadjusted energy inflation rose 12.5% year-on-year. Seasonally adjusted gasoline inflation rose 21.2% month-over-month in March, the largest increase since records began in 1967, while unadjusted gasoline inflation rose 18.9% year-over-year. Seasonally adjusted fuel oil inflation rose 30.7% month-over-month in March, the largest increase since February 2000; unadjusted fuel oil inflation rose 44.2% year-over-year. 4. Saudi Arabia’s oil exports through the Red Sea remain stable as the impact of the drone attack on its east-west pipeline has not yet materialized. Wednesday’s attack damaged one of 11 pumping stations along the pipeline. The Saudi Press Agency reported on Thursday, citing energy ministry officials, that this reduced pipeline capacity by 700,000 barrels per day. 5. The U.S. Department of Agriculture (USDA) released data showing that private exporters reported sales of 125,640 tons of corn to unknown destinations for delivery in the 2025/2026 marketing year. The U.S. corn marketing year begins on September 1. 6. U.S. Vice President Vance has departed for Islamabad, Pakistan, aboard Air Force Two to participate in U.S.-Iran talks. The entourage also included US Middle East envoy Witkov and Trump's son-in-law Kushner. Before boarding, Vance stated that he looked forward to the upcoming negotiations with Iran and believed the talks in Islamabad would be positive. 7. After data showed that gasoline prices rose due to the Iran war and US inflation accelerated in March, bond traders slightly reduced their bets on a single Federal Reserve rate cut this year. Friday's interest rate swap market pricing showed that the probability of a 25 basis point rate cut by the Fed this year was about one-third, little changed from before the data release. 8. A spokesperson for the Khatham Anbia Central Headquarters of the Iranian Armed Forces issued a statement on the 10th, saying that due to the repeated breaches of trust by the US and Israel in the past, the Iranian Armed Forces remain fully alert and ready to open fire at any time. 9. Data released by the LME showed that due to supply disruptions caused by the Iran war, Indian aluminum was temporarily unable to be delivered, and the proportion of Russian aluminum available in London Metal Exchange (LME) warehouses jumped from 60% in February to 92% in March.

On April 10, Sunac China Holdings Limited (01918.HK) announced that its wholly-owned subsidiary, Sunac Real Estate Group Limited, and its executive director, Mr. Wang Mengde, received formal written notices from the Tianjin Regulatory Bureau of the China Securities Regulatory Commission (CSRC) and the Shenzhen Stock Exchange. These notices stated that Sunac Real Estate failed to disclose overdue debts and asset seizure information in a timely manner from the end of 2021 to mid-2025, in accordance with the "Administrative Measures for the Issuance and Trading of Corporate Bonds," the "Administrative Measures for the Disclosure of Information on Corporate Credit Bonds," and the Shenzhen Stock Exchange's rules for listing corporate bonds. The Tianjin Securities Regulatory Bureau issued a warning letter to Sunac Real Estate and its then-chairman and general manager, Mr. Wang, and the Shenzhen Stock Exchange imposed disciplinary sanctions on Sunac Real Estate and Mr. Wang, including a public reprimand.

The preliminary reading of the University of Michigan Consumer Sentiment Index for April fell to a record low of 47.6, below the expected 51.5.

The preliminary reading of the US one-year inflation rate in April was 4.8%, down from the expected 4.3% and the previous reading of 3.80%.

US factory orders rose 0% month-on-month in February, compared with expectations of a -0.2% decline and a revised 0% increase in the previous month (originally reported as 0.10%).