Risk in the credit markets has received a lot of attention in 2026, from fears about private credit stress to the head of the nation’s biggest bank, JPMorgan CEO Jamie Dimon, warning this week — though not pointing to any specific current credit market signal — “We haven’t had a credit recession in so long, so when we have one, it would be worse than people think. It might be terrible.” 

Dimon isn’t the only Wall Street veteran worried about the longer-term outlook for the bond market. But as investors focus on the likely confirmation of a new Federal Reserve chair, Kevin Warsh, many may be overlooking a more short-term volatile reaction in store for fixed-income portfolios. Whenever there is a Fed transition, treasury yields, duration risk, and credit spreads usually move faster as the markets begin to reassess monetary policy.

“What is really important over the next several weeks is this changing of the guard at the Fed chair level,” Paisley Nardini, Simplify Asset Management managing director and head of multi-asset solutions, said on the podcast portion of CNBC’s “ETF Edge” on Monday.

Nardini explained that even when there is no immediate policy move, markets can start pricing in the future quickly. A new Fed chair can change the communications style and alter the pace of future rate hikes or cuts. She said this could send ripples through the treasury market before equities fully react.

“I think the markets are really going to be cautious as to what this might mean. Anytime there is a changing of the guard, markets are going to experience some volatility and we are going to have to start to price in what that means,” she said.

There was a lot of Fed news to digest this week. The Federal Reserve held interest rates steady at its meeting Wednesday, with the federal funds rate unchanged in a 3.50% to 3.75% range. But the war and the surge in oil prices has upended the policymaking assumptions of the central bank and bond traders, who are now betting against another rate cut in 2026. Fed Chair Jerome Powell said the added the pressure on the economy from higher oil prices is likely to remain, even if it hasn’t yet upended the longer-term inflation outlook.

But there is more disagreement than ever inside the Fed, with a shift within the FOMC as more members say there should be no indication at all from the institution that the bias remains towards cutting rates. Chair Powell also said he has no intention to leave his position as Fed governor even when his term as chairman ends, further complicating an already heightened political environment at the Fed.

This backdrop can make the bond market more sensitive, and inflation remains above target with the latest personal consumption expenditures index hovering around 3.5% annually. Core PCE rose to 3.2%.

“If we remember the role of the Fed, we have a dual mandate and that is data driven. And so we have employment on one side of the spectrum and inflation on the other side,” Nardini said, referring to…

Ford is issuing a safety recall for some 144,000 F-150s in Canada, the company said Friday, due to an issue with the vehicles’ gearshift that can impact the drivers’ control of the vehicle.

The safety issue impacts some vehicles with six-speed automatic transmissions made between 2015 and 2017. In the U.S., almost 1.4 million vehicles are affected, including some 2014 model years as well.

In some of the trucks, deteriorated electrical connections in the internal transmission lead frame can cause a signal issue from a transmission sensor, according to the company.

“This may lead to an unexpected downshift into a lower gear while the vehicle is in motion,” a Ford spokesperson told CBC News in an emailed statement.

The U.S. National Highway Traffic Safety Administration’s safety recall report said the issue may cause an abrupt reduction in wheel speed for a short period of time, which in some situations could cause the rear tires to slide until the vehicle speed slows.

The automaker is aware of two injuries and one accident possibly related to the issue, according to The Associated Press.

Ford says dealers can update the vehicles’ Powertrain Control Module (PCM) software, which should fix the issue. Alternatively, if an affected vehicle previously displayed “specific diagnostic trouble codes” related to that sensor, Ford says it will replace the transmission lead frame for free.

F-150 drivers can determine if their vehicle is impacted by entering their Vehicle Identification Number online on Ford’s recall webpage.

A batch of Xanax XR is being recalled nationwide after the manufacturer found it may not release the medication in the body as intended.

Viatris, Inc. initiated the voluntary recall for ALPRAZolam extended-release tablets, 3 mg, distributed in 60-count bottles under lot number 8177156 with an expiration date of Feb. 28, 2027, according to the U.S. Food and Drug Administration.

Xanax XR is a benzodiazepine used to treat panic disorder and anxiety in adults.

The issue was classified as a Class II recall, meaning it may cause temporary or medically reversible health effects but is unlikely to result in serious harm.

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“Failed dissolution specifications” indicate the tablets may not dissolve and release the medication at the intended rate. Because Xanax XR is designed to release gradually over time, any variation could affect how the drug is delivered in the body — and how well it works.

The affected product was distributed nationwide in the United States, though the recall applies only to the specific lot identified. The FDA lists the recall as ongoing, with no termination date yet announced.

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A spokesperson for Viatris told FOX Business the recall is limited in scope and does not pose a significant risk to patients.

“The voluntary recall of Xanax XR in the U.S. is specific to one lot of one strength (3mg) of the brand product only, and 51 bottles were distributed to U.S. wholesalers between Aug. 27, 2024, and May 29, 2025,” the spokesperson said. “No other batches of the Xanax XR brand product, or its generics, are impacted.”

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The spokesperson added that most patients in the U.S. are prescribed generic ALPRAZolam, which is not affected by the recall.

“The risk to the patient associated with this event is considered to be negligible. To date, no reports of adverse reactions associated with this lot have been received,” the spokesperson said.

Viatris said the recall is being conducted at the retail level, meaning pharmacies and wholesalers have been instructed to return the affected product.

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“Patients do not need to take any action,” the spokesperson said.

Hyundai is issuing a warning related to the seatbelt system in some of its 2026 Palisade models.

In some cars, wiring in the seatbelt for the third-row, left-hand side seat can become damaged when pulled, according to a notice on Transport Canada’s Motor Vehicle Safety Recalls Database. The wiring issue can then cause the seatbelt indicator to show that the seatbelt is buckled when it is not.

“A seatbelt status indicator that doesn’t work correctly could create confusion. Not wearing a seatbelt increases the risk of injury in a crash,” the notice said.

Some 4,203 vehicles in Canada may be affected by the seatbelt issue.

Hyundai says it will notify affected drivers of the issue in writing and advise them to visit a dealership to have the seatbelt wiring fixed.

Alternatively, drivers can input their vehicle identification number in Hyundai’s online recall lookup website to see if their car is impacted, or call 1-888-216-2626.

Earlier this year, Hyundai recalled thousands of vehicles in the U.S. and Canada and stopped sales of some of its new Palisades due to a different issue that caused some second and third-row power seats not to stop moving when they detected contact with a passenger or an object.

The recall was triggered after a two-year-old child was killed in Ohio.

Verizon users are suffering outages impacting voice and data services, the company confirmed on Wednesday.

Verizon announced in a statement on social media that its engineers are aware of the situation and are working to resolve the issue, which affected users around the U.S.

“We are aware of an issue impacting wireless voice and data services for some customers. Our engineers are engaged and are working to identify and solve the issue quickly. We understand how important reliable connectivity is and apologize for the inconvenience,” Verizon said in a statement.

In a statement issued Wednesday evening, Verizon apologized to customers and said it would provide account credits for those affected.

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“Today, we let many of our customers down and for that, we are truly sorry,” Verizon said on Wednesday evening. “They expect more from us.”

“We are working non-stop and making progress,” the statement continued. “Our teams will continue to work through the night until service is restored for all impacted customers. We will make this right – for any customer affected, we will provide account credits and share updates soon.”

The outage tracking website Downdetector showed 172,980 reports of outages around 12:30 p.m. ET. Those outages declined to 120,628 as of 1:22 p.m. ET, and continued to decline to 67,646 as of 2:36 p.m. ET.

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As of 5:30 p.m. ET there were about 46,250 reports of outages.

The most reported problems on Downdetector were mobile phone issues, which represented 62% of the reports. Lack of signal accounted for 34% of the reports, while mobile interest issues the remaining 4% as of 2 p.m. ET.

New York City, Washington, D.C., Chicago, Atlanta, Houston, Los Angeles and Portland were among the metro areas with outage reports submitted on the platform.

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Ticker	Security	Last	Change	Change %
VZ	VERIZON COMMUNICATIONS INC.	38.91	-0.45	-1.14%

The actual number of users affected by the outage may differ from those figures, as Downdetector reports are submitted by users.

Verizon issued an update at 2:15 p.m. ET saying that “engineering teams are continuing to address today’s service interruptions. Our teams remain fully deployed and are focused on the issue.”

The company added that it understands the impact the disruption has on customers’ days, and it remains committed to resolving the issue as quickly as possible.

A subsequent update after 4 p.m. ET indicated the engineering team is “on the ground actively working to fix today’s service issue…

Celebrity real estate broker Ryan Serhant says young Americans need to forget the familiar story of “my dad bought a house for $50,000,” because that world is gone — and today’s buyers are facing a new housing reality where affordability, ownership and even the American dream look far different from those of previous generations.

“You have to understand that your baseline starts right now. We are not going back anywhere. We’re not going back to the rates and the market we had in 2021. We’re not going back to 2015. We’re also not going back to 1991,” Serhant told Fox News Digital.

“The old baseline of affordability where the median-income buyer could reasonably plan to own a house, I think, is gone for most of the country.”

Last month, the National Association of Realtors released its 2025 Profile of Home Buyers and Sellers, which found the median age of first-time homebuyers rose to a record 40 years old — the highest ever recorded. The report attributed the change to limited housing inventory and longer saving and search periods.

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The record figure also reflects a broader demographic shift Serhant described, with data from the Centers for Disease Control and Prevention (CDC) showing age-specific birth rates have risen, as a larger share of births now come from mothers age 30 or older.

“There is a cost of living for everybody. You’re either paying rent or you’re paying property taxes, you know, you’re paying interest on loans. And sure, if you’re making a big bet on appreciation, which we do in our business all day long, it is much better to own than it is to rent, but you don’t have to. I think the American dream is a happy life defined by growth and success, in whichever way you determine your success,” he continued.

“I think the strain on the new American family is a massive issue. And people can’t afford to buy houses, sell houses, have kids,” Serhant said. “And I think that, yes, demand remains. First-time homebuyers, like I said, are the strongest market we have right now, in part fueled by baby boomers who are paying cash so their son or daughter could have a house. But I think affordability needs to be redefined.”

According to Serhant, one of America’s top real estate brokers, baby boomers remain the largest homebuyers — often by proxy for their children.

A 2024 study from Intuit…