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Logan Says Fed Should Consider Replacing Benchmark Funds Rate

Federal Reserve Bank of Dallas President Lorie Logan said the US central bank should abandon the federal funds rate as its benchmark in implementing monetary policy, and consider an overnight rate tied to the more robust market for loans collateralized by US Treasuries.

By Catarina Saraiva and Alexandra Harris

S&P 500 Set for Longest Losing Streak in a Month: Markets Wrap

Stocks fell as valuation worries overshadowed data showing the economy is holding up. The figures didn’t have much of an impact on Federal Reserve bets, but bond yields kept rising after a weak Treasury sale.

Citi’s Cheap Sale to Mexican Magnate Paves Way for Local IPO

Mexican magnate Fernando Chico Pardo may have got his 25% stake in Citigroup Inc.’s Banamex on the cheap, but the sale should bolster the unit’s competitiveness and jumpstart the bank’s nearly four-year saga to exit Mexico, analysts said.

Matt Levine’s Money Stuff: Quantum Bond Trading

Also trend following, stablecoin reversals, crypto payments and free-riding.

Amundi Executive Sees ‘Reshuffling’ of Ties to Asset Owners

How an asset manager handles climate risk is playing an increasingly important role in the choices that European institutional investors make when assigning mandates, according to Elodie Laugel, chief responsible investment officer at Amundi SA.

Economic Luminaries Enter Legal Battle Over Fed Independence

A bipartisan group of former Treasury secretaries, Federal Reserve chairs and other experts urged the US Supreme Court not to let President Donald Trump fire Fed Governor Lisa Cook, arguing that the health of the economy is at stake.

Wall Street Bankers Cut the ‘Fluff’ Out of Transition Deals

Never before has New York climate week attracted so many people. And never before have the bankers attending been so keen to distance themselves from the traditional framing of climate finance.

US to Scrutinize Farm Input Suppliers on Cost Surge

US Agriculture Secretary Brooke Rollins said the US will investigate suppliers of crop inputs such as seeds and fertilizers for potential antitrust violations, sending share prices plunging.

Ambipar Gets Emergency Court Protection as Creditors Pounce

Brazilian waste-management company Ambipar Participações e Empreendimentos SA was granted emergency protection against creditors after telling a court it was at risk of financial collapse — capping a bruising month that drove its bonds to record lows.

Citadel’s Griffin Says Fed Likely to Cut Once More This Year

Citadel’s Ken Griffin said he expects the Federal Reserve to cut its benchmark rate once more in 2025 as the central bank turns its focus to the labor market.