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WSJ.com: Markets

• Pound Slides Further; U.S. Stock Market Closes for Carter Memorial
  The U.S. stock market will be closed and the bond market will shut early. In the U.K., the pound continued to sell off.
• Sterling's Fall Unlikely to be Sustained
  Sterling fell to a 14-month low against the dollar but Monex Europe said the decline was unlikely to last as traders should soon unwind this kneejerk reaction to the selloff in gilts.
• U.K. Bond Yields Hit Highs Not Seen Since 1998
  Yields on U.K. government debt rose to their highest levels for over 25 years and the British pound continued to sag against the dollar, as investors worry about increasing levels of government borrowing and a generally lackluster economy.
• UBS Close to Large Settlement Over Credit Suisse Tax Case
  The potential payout relates to an earlier deal over tax evasion by U.S. clients of Credit Suisse, the rival Swiss bank that UBS acquired in 2023.
• The Stock Market Embraced Higher Yields. Now It Fears Them.
  Investors have shifted from thinking higher Treasury yields are an unwelcome side effect of the stronger growth promised by Trump, to worrying that higher borrowing costs might end up being very important.
• Europe's Gas Price Retreats Further
  European natural-gas prices fell, and Raboank said the around 10% retreat in price over the the week on an improved weather outlook signals that last week’s rally might have been overdone.
• Wildfires Are Making Investors Nervous About Los Angeles Area Utility Again
  Southern California’s Edison International owes its survival to luck, at least in part.
• U.S. Companies and Investors in Japan Are at Risk From U.S. Steel Backlash
  American investment could become less welcome, undermining Japan’s progress on corporate reforms.
• Rise in U.K. Gilt Yields Mirror Increase in U.S. Treasury Yields
  The rise in gilt yields has mirrored a rise in Treasury yields, Quilter Investors said, adding that a key factor remained the sheer size of bond sales by the U.K. government and the BOE that “foreign investors typically mop up.”
• Nordic Banks Under Continued Pressure From Lower Interest Rates
  The impact of lower interest rates in the fourth quarter sees a continuation of the challenging operating environment for Nordic banks, Jefferies said, which seea better value elsewhere in a European banking context.