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(Bloomberg) -- Glencore Plc has emerged as an active buyer of spot oil cargoes from the Middle East this month, as the merchant starts procuring crude for the Bukom refinery in Singapore, according to traders.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalThe company purchased three cargoes of Qatar’s Al-Shaheen grade and at least one of Abu Dhabi’s Upper Zakum, the traders said, asking not to

(Bloomberg) -- Federal Reserve officials capped 2024 with a third-straight interest-rate cut and a strong signal that inflation concerns are back in the fore. Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousChair Jerome Powell put it plainly: The central bank’s year-end inflation projection has “kind of fallen apart.”Listen to the Here’s Why podcast on Apple, Spotify or anywhere you listen.Officials now see it taking much longer for inflation to reach their

(Bloomberg) -- The worst Treasuries selloff since 2013 on a Federal Reserve meeting date is likely to prove short-lived, according to a survey of Bloomberg Terminal subscribers.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousBenchmark 10-year Treasuries will yield 4.4% at the time of the central bank’s March gathering, from about 4.51% now, according to the median of 81 responses in a Markets Live Pulse survey. The poll was conducted Wednesday after policym

NEW YORK (Reuters) -Federal Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin. "We're not allowed to own bitcoin," Powell said at a press conference following the Fed's latest two-day policy meeting, in which policymakers cut rates as expected while signaling a less certain path for monetary policy in the months ahead. In terms of the legal issues around holding bitcoin, "that's the kind of thing for Congress to consider, but we are not looking for a law change at the Fed," Powell said.

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(Bloomberg) -- The US Treasury market tumbled as traders took the Federal Reserve’s revised forecasts as reason to slash their expectations for interest-rate reductions next year.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousThe selloff lifted shorter-maturity yields, which are more sensitive to Fed policy shifts, more than 10 basis points to the highest levels in several weeks. The Fed cut interest rates Wednesday for a third-straight time as expected, w

(Bloomberg) -- The dollar rallied to the strongest level in over two years after the Federal Reserve signaled a slow down in the pace of monetary easing next year.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousThe Bloomberg Dollar Spot Index rose 0.9% Wednesday, its highest since 2022. The surge sent other major currencies lower. The euro, pound and Swiss franc fell 1% against the US dollar during the day, while the offshore Chinese yuan fell to the lowest