News Highlights: Top Global Markets News of the Day

BY Dow Jones & Company, Inc. | ECONOMIC | 09/23/21 01:15 AM EDT

Fed Tees Up Taper, Signals Rate Rises Possible Next Year

Central bank officials are prepared to reverse pandemic stimulus programs as soon as November, while new projections show half of 18 officials expect to raise interest rates by the end of 2022.

Major Evergrande Shareholder Looks to Exit Company

One of China Evergrande Group's largest shareholders has pared its stake in the debt-laden conglomerate and said it could exit the company amid concerns about the developer's financial condition.

U.S. Stocks Finish Higher as Fed Signals Timing for Interest Rate Hikes

Share benchmarks gained as investors shook off concerns over property developer China Evergrande Group and shifted their focus to the Federal Reserve.

Biden Pushes Democrats to Find Consensus on Budget Package

President Biden pressed lawmakers to reach agreement on his sweeping social-welfare and climate proposal in meetings at the White House, aiming to settle sharp intraparty differences that threaten to derail his multitrillion-dollar agenda.

Elizabeth Warren, Other Top Democrats Raise Concerns About SPAC Incentives

A letter from four senators comes amid increasing regulatory scrutiny of so-called blank-check companies and how they affect individual investors.

Biden Expected to Nominate Wall Street Critic as Top Banking Regulator

Cornell law professor Saule Omarova will be named Comptroller of the Currency, say people familiar with the matter.

SEC Asks Dozens of Companies for More Climate Disclosures

The agency has sent letters to dozens of public companies asking them to provide more information to investors about how climate change might affect their financial earnings or business operations.

Supplier Contracts Get Revamped After Covid-19 Disruptions

Pandemic-driven strains in supply chains are triggering changes in contract terms between suppliers and their customers as companies try to address the risks and added costs brought on by persistent delays and disruptions.

Europe Pumps Less Gas as Demand Rebounds, With Russia Filling the Gap

Natural-gas supply shortfalls have led to record prices for the fuel and for electricity, leading to fears of a shortage and spotlighting European efforts to slash greenhouse-gas emissions.

China Still Beckons U.S. Investors Despite Evergrande Crisis

Some U.S. money managers including Bridgewater and Pimco view a potential Evergrande default as a step toward tamping down risks in China.

  (END) Dow Jones Newswires
  09-23-21 0115ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.