Bessent ‘Optimistic’ Gas Will Drop to $3 Per Gallon Over Summer

Apr 15, 2026 | Markets

Treasury Secretary Scott Bessent said he was “optimistic” that the price of gasoline will abate over the crucial summer driving season, retreating back to $3 a gallon. “I’m optimistic that sometime between June 20 and September 20, that we can have $3 gas again,”...

Avis’s 200% Surge Lures New Shorts Eyeing Trip ‘Back to Reality’

Apr 15, 2026 | Markets

A three-fold surge in the shares of car rental company Avis Budget Group in just two weeks has punished short investors betting against the stock. But the bears are not giving up; if anything, they are doubling down. Short interest in the company as a percentage of...

Singapore Bonds Surge Past Treasuries on Liquidity, Haven Demand

Apr 14, 2026 | Markets

Singapore government bonds are extending their outperformance over US Treasuries to levels not seen since 2007, as a drop in local interbank borrowing costs points to a surge in haven demand. By tightening monetary policy this week, the Monetary Authority of...

Wells Fargo Misses Lending Estimate, Sending Shares Plunging

Apr 14, 2026 | Markets

Wells Fargo & Co. fell short across its primary income streams in the first quarter, pushing shares down as the bank reworks its business mix in a bid to accelerate growth. Net interest income, the difference between what the company makes from lending and pays...

China’s Petrochemical Producers Idle Capacity as Margins Crumble

Apr 14, 2026 | Markets

China’s petrochemical producers, which supply textile and plastics factories, have cut operations to their lowest seasonal level in three years as rising feedstock costs and soft export demand squeezes margins. Several major makers of purified terephthalic acid —...

Banks Tally $100 Billion of Private-Credit Loans as Calm Urged

Apr 14, 2026 | Markets, Private Credit

Wall Street banks reported at least $100 billion of exposure to private-credit firms, offering a glimpse at what has become a closely watched industry with many investors on edge over credit quality and the growing impact of artificial intelligence. Wells Fargo &...