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Bank of Canada governor welcomes nomination of Warsh as Fed chair

BY Reuters | ECONOMIC | 01:31 PM EST

OTTAWA, Feb 5 (Reuters) - Bank of Canada Governor Tiff Macklem ?on Thursday ?welcomed the ?nomination of ?Kevin ?Warsh as chair of ?the U.S. ?Federal Reserve, saying he ?had ?a ?deep knowledge of financial markets and ?the international monetary system.

"I'm looking forward to working ?with ?Kevin," he said in ?a question and answer session after giving a speech in ?Toronto. (Reporting by David Ljunggren; Editing ?by Chris Reese)

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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.

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