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Bessent Blasts JPMorgan Over ‘Terrible’ Oil-Insurance Analysis

Treasury Secretary Scott Bessent blasted a JPMorgan Chase & Co. report for what he called “terrible” and inaccurate analysis about constraints over a US government lending agency’s ability to offer backup insurance for oil cargoes attempting to exit the Persian Gulf.

By Daniel Flatley

SEC, CFTC Discuss Moving Into Same Building Complex

Wall Street’s two top regulators are discussing plans to move into the same building complex in Washington just steps from the US Capitol, according to people familiar with the matter.

Wall Street’s Safety Net Is Giving Way as Iran War Hits Markets

The Iran war rattled but didn’t break Wall Street this week. Instead it exposed the limits of diversification strategies built to cushion investors against chaos.

US Oil Posts Biggest Weekly Gain Ever as Iran War Rages On

US oil posted the biggest weekly gain on record as the war in Iran upends critical energy market flows, with shipping through the Strait of Hormuz at a near-total halt.

Fed’s View of Stabilizing Employment Tested by Surprise Drop

An unexpected hiring slump threatens to upend the prevailing view among Federal Reserve policymakers that a stabilizing labor market will allow them to keep interest rates steady as they fight persistent inflation.

India Expands Financial Reporting Rules to Include Crypto

Crypto-assets in India are subject to the country’s financial reporting rules as of Jan. 1, after the government expanded the types of assets subject to the requirements.

BlackRock $26 Billion Private Credit Fund Limits Withdrawals

BlackRock Inc. curbed withdrawals from one of its biggest private credit funds after client requests for redemptions spiked, the latest sign of investor anxiety about the $1.8 trillion private credit industry.

Fed’s Hammack Says She Sees Two-Sided Risks to Interest Rates

Federal Reserve Bank of Cleveland President Beth Hammack reiterated that interest rates could be on hold for quite some time, but signaled officials should be ready to respond to other outcomes.

Comerica Defeats Suit Over Federal Benefit Interest Payments

Comerica Bank escaped a proposed class action alleging it illegally withheld interest on accounts maintained for recipients of Social Security and other federal benefits.

Iran War Spurs Scramble for Energy Export Routes Out of Gulf

The widening conflict in the Middle East is stoking fears over a global energy crunch as exporters scramble for routes out of the region while a swath of refineries reduce output.