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Week in Review: OPEC minus one
Published 1 month, 1 week ago
Description
The UAE announced it is pulling out of OPEC, a move that analysts say could complicate the group's ability to manage production quotas. The Fed held rates but recorded its biggest board dissent since 1992, with Powell announcing he'll stay on as governor and warning against what he called a "battering" of Fed independence. The Bank of England and ECB signaled they could hike as soon as June, though bond yields fell as markets scaled back their most aggressive rate expectations. And Tech earnings powered Wall Street to its best month since 2020, with the four largest tech companies committing more than $700 billion to AI infrastructure.
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