New Zealand Food Inflation YoY

Venezuela's economy expanded by 2.51% year-on-year in the first quarter of 2026, easing sharply from a 7.19% advance in the last quarter of 2025. The deceleration was driven primarily by the oil sector, which contracted 2.12% after expanding 13.8% in the previous quarter. Meanwhile, non-oil activity grew 3.11%, supported by financial and insurance activities, which recorded the largest increase, at 13.5%, followed by retail and motor repair (8.7%), restaurants and hotels (7.5%), manufacturing (6.4%), agriculture (5.4%), transports (4.9%), information and communication (4.8%),  education, health, training, and other service activities (2.9%), entertainment activities (2.6%) mining (1.9%) and general government services (1.5%). In contrast, construction activities plunged by 18.3% and utilities declined by 1%.

Venezuela Economic Activity Slows in Q1 2026

US equities rose further on Monday after the US and Iran said they agreed to a deal that ends their war and restores energy exports from the Middle East. The Dow gained 700 points to a new record, while the S&P 500 gained 2% and the Nasdaq rose 3%. The deal was set to be signed on Friday, with reports indicating it includes Iran cleaning the Strait of Hormuz from mines and naval blockades being lifted for all exports from the Persian Gulf. Energy prices and bond yields fell, improving macroeconomic conditions and boosting risk demand in the heavyweight tech sector. Oracle and Meta surged 4% while Nvidia and Amazon gained 3%. Meanwhile, SpaceX was 10% higher following its 20% surge on its IPO day last session after CEO Musk signaled it may have $1 trillion in revenue in 2031. Chip producers continued to rally on more cash being raised by AI developers and the influx of orders that translates for AI infrastructure companies. In turn, Fox sank 15% after buying Roku for $22 billion.

US Stocks Extend Rise on US-Iran Deal

The yield on the 10-year US Treasury note held losses at the 4.46% level on Monday as the US and Iran agreed to a deal that softened inflationary risks in the US and global economy. President Trump and Iranian authorities stated that concessions for an memorandum of understanding were agreed and will be signed on Friday, with reports indicating that energy exports through the Strait of Hormuz will be restored. Pro-inflationary risks dropped as oil and fuel prices retreated further. The Federal Reserve is due hold its rates unchanged on Wednesday following the FOMC's first meeting with Chairman Kevin Warsh, set to give signals on potential overhauls to the current monetary framework that he has criticized. Rate traders continued to slightly favor one rate hike by the central bank this year. Meanwhile, the BoJ is due to raise rates this week, as done by the ECB this month, although the BoE, SNB, Riksbank, and RBA are set to hold rates unchanged.

US 10-Year Yield Holds Pullback

The FTSE MIB Index went up by 339 points or 0.66 percent on Monday to close at 51836 points. The rise was led by Ferrari NV (4.36%), Stellantis N.V. (3.58%) and Buzzi Unicem (3.46%). On the downside, the weakerst performers were Avio (-5.13%), Eni (-4.69%) and Leonardo SpA (-2.70%).

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Venezuela Economic Activity Slows in Q1 2026

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New Zealand Food Inflation YoY