Briefings

Week InReview: December 19, 2025

Traders gear up for year-end.
US stocks are ticking higher as traders gear up for the year-end stretch that typically delivers equity gains. Investors are pumping money into the market at a near-record pace as they position for lower borrowing costs, Bank of America says. | The Bank of Japan raised interest rates to a 30-year high and said more increases are likely. Yields on 10-year Japanese government bonds climbed above 2%, pushing global yields higher, and the yen weakened on disappointment that the messaging from the central bank wasn't stronger. | UK consumers are more likely to buy big-ticket items than they were before Rachel Reeves' budget, according to a prominent survey that suggests sentiment has improved in the run-up to Christmas. Still, the Bank of England Governor joined peers in warning that the speed and scale of future reductions are now in the balance. | Data showing US inflation cooled at a startling clip last month ignited stock and bond markets, while traders held firm on bets for two Federal Reserve interest-rate cuts in 2026. | European Central Bank officials expect the cycle of interest-rate cuts to most likely be finished based on the latest outlook for growth and inflation, according to people familiar with the debate.

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