Fears of stagflation amid war with Iran have led to a sharp decline in the global debt market: in March, the value of bonds fell by more than $2.5 trillion. For the bond market, this could be the largest monthly decline in more than three years, Bloomberg <a href="https://www.bloomberg.com/news/articles/2026-03-23/bonds-lose-2-5-trillion-in-iran-war-wipeout-that-mirrors-2022">writes.</a>

Bond market lost $2.5 trillion due to war with Iran. This is a repeat of the 2022 collapse

The cost of government borrowing for the UK on March 20 jumped to the highest level since the 2008 financial crisis, <a href="https://www.ft.com/content/1e77f7ce-1c93-4852-9970-297636a7d9cf">writes the</a> Financial Times (FT). The yield on benchmark 10-year government bonds exceeded 5%. Investors were trying to factor in rising inflation risks and the increasing likelihood of an interest rate hike later this year, CNBC <a href="https://www.cnbc.com/2026/03/20/uk-gilt-market-interest-rates-boe-inflation-reeves.html">writes</a>.

UK government bond yields hit their highest since the 2008 crisis

It was the regulator's penultimate meeting before Jerome Powell steps down as chairman

The Fed has kept the rate unchanged for the second time in a row. Prospects for a rate cut are in doubt

Kevin Warsh, nominated by Donald Trump for the post of Fed chairman, may increase the level of market confidence in the US financial system, analysts believe. During his tenure at the Fed from 2006-2011, he earned a reputation as a supporter of tight monetary policy, although he has recently advocated lower rates, which is in line with Trump's position. The dollar reacted to his nomination by strengthening and the precious metals market, seen as protective assets, by falling sharply. What is being said about Warsh on Wall Street?

'Not the kind of person who gives up': what analysts are saying about the candidate to head the Fed

JPMorgan Chase & Co.

The Goldman Sachs Group, Inc.

Bank of America Corporation

Two FOMC members favored a quarter percentage point rate cut

The Fed left the rate unchanged. What to expect next?

Fed committee members expect only one round of monetary policy easing in 2026

The Fed has cut rates for the third time in a row. What happens next?

Initial applications for unemployment benefits in the U.S. unexpectedly<a href="https://www.dol.gov/ui/data.pdf"> decreased</a> by 6 thousand - to 216 thousand - for the week ended November 22. This was the lowest value since mid-April,<a href="https://www.bloomberg.com/news/articles/2025-11-26/us-jobless-claims-decline-to-lowest-level-since-mid-april?srnd=homepage-europe"> notes</a> Bloomberg. The average forecast of economists surveyed by the publication, assumed 225 thousand applications.

US jobless claims are at their lowest since April. What will happen to the rate?

Wholesale inflation in the U.S. accelerated in September due to higher energy and food prices, according to <a href="https://www.bls.gov/news.release/ppi.nr0.htm">the</a> Bureau of Labor Statistics, the producer price index (PPI) <a href="https://www.bls.gov/news.release/ppi.nr0.htm">rose</a> 0.3% for the month after a 0.1% decline in August, matching economists' expectations, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-11-25/us-producer-price-index-increases-0-3-led-by-higher-energy">reports</a>

U.S. wholesale inflation rose due to higher energy and food prices

NVIDIA Corporation

Microsoft Corporation

Alphabet Inc.

U.S. stock markets ended a chaotic week with stocks reversing upward after a sell-off in the AI sector on Thursday. About 450 securities from the S&amp;P 500 index rose on Friday, supported by strengthened hopes that the U.S. Federal Reserve may still lower its key rate in December. At the same time, all three indices remained in the negative at the end of the week, and bitcoin reached its lowest value since April.

Wall Street believed in Fed rate cut: stocks ended a dramatic week with gains

Investors continued to favor European and Asian small-cap stocks in the third quarter. International ETFs, which had been leading since the start of the year, maintained their advantage, while U.S. small-cap funds – previously lagging – regained momentum.

Ex-U.S. small-cap ETFs continue to outperform U.S. peers in 3Q, but comeback in sight

The US Federal Reserve has cut rates for the first time in 2025. What will happen to stocks?

In trading on September 15, the S&amp;P 500 hit a record high

Key Rate