The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0556 GMT - Optimism about the cease-fire in the Middle East has pulled front-end global bond yields further lower, but they have lagged the recovery in risk assets, Barclays' Anshul Pradhan and Demi Hu say in a note. "We believe this reflects expectations of inflation persistence," the analysts say. Global rates markets continue to pare back policy rate paths amid optimism about further de-escalation in the Iran war, they say. More spending would weigh on long-end bonds, but likely without providing much of a positive inflation impulse, they say. "Our key takeaway is that the sharp increase in uncertainty and risk aversion across classes triggered by the Iran war has been mostly unwound. However, modal expectations around the price of oil and inflation have shifted the regime toward 'higher for longer.'" (emese.bartha@wsj.com)

0544 GMT - Tightening in eurozone government bond yield spreads remains subject to energy prices, and this argues for caution for positions anticipating spread narrowing, Barclays rates strategists say in a note. "All in all, EGB spread tighteners remain directional to the evolution of energy prices," they say. "Fiscal pressures in the context of the energy shock could pose a risk for eurozone government bond yield spreads," they say. While fiscal measures announced so far have been relatively contained in nature, on a medium-term horizon, elevated energy costs will add to structural spending pressures on top of defense spending needs, they say. (emese.bartha@wsj.com)

0435 GMT - Australian wealth manager Netwealth remains on track to deliver solid full-year growth despite a volatile March quarter, Morgans analyst James Filius says. He tells clients in a note that market volatility eroded Netwealth's third-quarter performance. It had A$125.8 billion in funds under administration, compared with a consensus expectation of A$129.8 billion. However, Filius points out that net flows of A$3.96 billion were modestly ahead of expectations. He adds that market momentum has recovered from what he calls peak pessimism in the March quarter, which he reckons bodes well for funds under administration. Morgans keeps an accumulate rating and A$29.00 target price on the stock, which is up 0.9% at A$25.45. (stuart.condie@wsj.com)

0423 GMT - AMP's March-quarter update further lifts Jarden's confidence in the Australian wealth manager's strategy. Jarden's analysts tell clients in a note that AMP's management has delivered much of what they wanted, with a strategic review of its bank the only item still unchecked. They think that a sale either of the bank's loan book or of the whole unit would be preferable to its current digital-focused growth strategy, which they don't see generating returns before 2030. Elsewhere in the business, they are happy to see solid platform net flows and reaffirmed annual guidance. Jarden lifts its target price 6.5% to A$1.65 and keeps an overweight recommendation on the stock, which is down 1.4% at A$1.425. (stuart.condie@wsj.com)

0353 GMT - Japanese equities remain constructive as the country exits its deflationary mindset, with inflation, wages and corporate behavior evolving more sustainably, says Daniel Hurley, T. Rowe Price's portfolio specialist for global and Japanese equities, in a note. Semiconductor capital equipment companies stand out for their ability to pass through costs and tap strong secular demand linked to AI and digitalization, the note adds. High-quality exporters are also attractive, particularly those with differentiated products and global market share, which can help them absorb currency swings and maintain profitability, it says. (venkat.pr@wsj.com)

0346 GMT - Krungthai Card's clean portfolio and focus on low- to mid-income salaried customers should lead to lower asset-quality risk than its peers amid Thailand's weak economy, Ttb Wealth Securities' Rawisara Suwanumphai says in a note. The Thai company also benefits from strong funding flexibility, supported by its parent Krungthai Bank, which helps shield it from interest rate volatility. However, the brokerage lowers its 2026-2028 EPS estimates for Krungthai Card to partly reflect slower loan growth owing to the Middle East conflict. It keeps a buy call but trims its target price on the stock to 35.00 baht from 36.00 baht. Shares are unchanged at 29.25 baht. (ronnie.harui@wsj.com)

Wealth-management platform provider Netwealth's 3Q update reinforces Jefferies's bullish view of the stock. Netwealth said its funds under administration reached A$125.8 billion in the quarter. Net inflows of A$4.0 billion more than offset some A$3.7 billion in market declines. "The all important managed account subset was also a standout, increasing 30% to A$27.9 billion," says analyst Simon Fitzgerald. Jefferies adds that Netwealth's reaffirmed FY26 guidance was positive because it damped any fears of market volatility driving a revision of key targets. Jefferies raises its price target on Netwealth by 8% to A$30.25/share and retains a buy call. Netwealth ended Thursday at A$25.22. (david.winning@wsj.com; @dwinningWSJ)

2133 GMT - '90s-vintage internet company Yahoo has a modest AI risk, with "relative insulation versus peers more reliant on search traffic," according to Fitch. Yahoo benefits from a high proportion of direct traffic and a sizeable logged-in user base, with repeat visitation and durable user engagement for Finance, Sports and Mail, Fitch says as it upgrades Yahoo's issuer default rating to B from B-. The rating firm says challenges during the company's AdTech migration in 2023 and 2024 were followed by a sharp rebound in 2025. Fitch also says the company's refinancing is credit-positive. Apollo Global Management bought Yahoo and AOL from Verizon Communications for about $5 billion in 2021. Bending Spoons recently bought AOL. (josh.beckerman@wsj.com)

1736 GMT - Cryptocurrency and the blockchain is expected to take on a central role in the expansion of money apps by social media giants like X and Meta, says Grayscale in a note. The firm points to the introduction of "smart cashtags" on X as the next major step in the integration of crypto infrastructure with the other roles social media plays. Grayscale points to China's WeChat as an implementation of the "everything" app that X looks to follow, and may signal the direction companies like Meta and PayPal take with their offerings. Bitcoin is down 0.9% today to $74,133, according to data from LSEG. (kirk.maltais@wsj.com)

1658 GMT - Recent U.S. homebuying demand is unseasonably low, Redfin says. Higher mortgage rates and economic uncertainty are delaying big purchases for some Americans. Pending home sales fell 4.1% from a year earlier during the four weeks ending April 12, Redfin says, the biggest decline in over a year. Sales fell in all but seven of the 50 biggest U.S. metro areas, with the largest declines in Providence, Houston and Nassau County, N.Y. The biggest increases were in San Francisco, West Palm Beach, Fla., and Miami. Home-touring activity is up just 11% since the start of the year, compared to a 40% increase over the same period last year. High housing costs are also sidelining house hunters. The median home-sale price rose 2.3% annually. Easter fell into this four-week period, but not the comparable period in 2025. (chris.wack@wsj.com)

1421 GMT - The median home sale price in the San Francisco metropolitan area jumped 14.4% year-over-year in March, Redfin says, to a record $1.7 million. San Francisco has now reclaimed its title as the major U.S. metro with the highest home prices, eclipsing neighboring San Jose, which held that title for much of 2024 and 2025. Condo prices in San Francisco rose particularly quickly, posting a 24.4% year-over-year increase last month. Redfin says San Francisco's housing market has been heating up as a boom in the artificial intelligence industry and a return to the office have coincided with a lack of inventory. The typical San Francisco home that sold in March went for 8.9% more than its final list price. By comparison, the typical U.S. home sold for 1.3% below its final list price--the biggest March discount since 2020, Redfin says. (chris.wack@wsj.com)

1030 GMT - 06:30 ET - Strong safe-haven demand should keep the price of gold elevated through this year, with the precious metal likely to average around $4,990 an ounce after topping an average $3,435 in 2025, Canada's export credit agency forecasts. Export Development Canada in its spring outlook argues gold will peak in 2026, then as uncertainty eases and high prices curb demand it will gradually decline in 2027 to average $4,689 an ounce. EDC says that over time, jewelry demand is expected to regain its traditional role as the primary source of gold demand, while investment-driven volatility moderates. (robb.stewart@wsj.com; @RobbMStewart)

(END) Dow Jones Newswires

April 17, 2026 04:20 ET (08:20 GMT)

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