News Highlights : Top Global Markets News of the Day
U.S. Crude Output Expected to Outpace Demand, IEA Says
Unyielding U.S. shale production is expected to overwhelm global oil demand and weigh on prices this year, the International Energy Agency warned.
Global Shares Remain on Edge
Global stocks mostly ticked lower as investors remained on edge following last week's sharp selloff.
BOJ's Kuroda Stays on Message Amid Reappointment News
Haruhiko Kuroda reiterated his commitment to stick with the central bank's current policy stance in his first public appearance since news that he will be nominated to continue as Bank of Japan governor.
Indonesia's Central Bank Seen Holding Steady
Bank Indonesia will likely keep interest rates unchanged again this week, leaving room for economic growth to accelerate further.
Don't Just Blame the Dollar for the Yuan's Recent Advance
The yuan is at its highest since June 2016, having strengthened 2.3% against a basket of its trading partners' currencies since Jan. 12-which marked its lowest point this year.
Stock-Market Valuations Look More Appealing After Recent Rout
For investors who have complained about the stock market being too expensive, last week's sudden rout has something good to offer.
U.S. Budget Gap Widens 11% in Fiscal Year's First Four Months
U.S. government spending grew faster than tax revenue in January compared with a year earlier, expanding the federal deficit even before the effects of a major tax cut package materialize.
Trump's Budget Proposal Projects Big Jump in Deficits
President Donald Trump unveiled a $4.4 trillion budget blueprint that projects deficits next year nearly double what his proposal estimated last year, underscoring how Republicans' desire for lower taxes and more defense spending has derailed their campaign to impose fiscal discipline.
Trump Administration Overhauls CFPB's Mission
The Trump administration further detailed its vision to change the Consumer Financial Protection Bureau, proposing that the regulator get less funding and fewer enforcement powers along with an overhauled mission that is friendlier to companies.
Infrastructure Plan Puts Onus on Local Governments
The Trump administration released a long-awaited infrastructure plan on Monday that seeks to replace traditional federal publics-works programs with a new system of incentives intended to prod state and local governments to raise their own funds for physical improvements.