* Canadian dollar loses 0.3% against the greenback. * Trades in a range of 1.4302 to 1.4391. * Price of U.S. oil hits a 12-day low. * 10-year yield rises 4.1 basis points to 3.304% By Fergal Smith.
Commerzbank on Wednesday defined UniCredit's approach for a potential tie-up as "hostile", and said there had been no discussion of it with the Italian bank in the past two years, despite UniCredit CEO Andrea Orcel saying there had. UniCredit is awaiting the European Central Bank approval it needs for the 28% stake it has built in the German lender, for the most part using derivatives.
Bond vigilantism has returned to Britain, raising the prospect that the government will be forced to consider politically toxic tax rises or public spending cuts to placate investors concerned about the country's fiscal health. In the first weeks of 2025, certain gilt yields spiked to highs last seen in 2008.
* Mortgage rates forecast staying higher through the first half. * Existing home sales seen sluggish; housing starts little changed. * House price growth estimated to slow to 3.5% from 5.8% in 2024. By Lucia Mutikani.
There are eight municipal bond interval funds, three of which launched last year, promising fewer liquidity constraints and the potential for higher returns.
The county would hold a special election for a sales tax to provide more funds to build and operate a bond-financed jail project that faces rising costs.
Wages up overall, but not for those who need it the most WASHINGTON, Jan. 22, 2025 While the overall economic picture might suggest modest improvement?with median wages up 1.6% in Q4 2024 and 1.3% year-over-year, and a 0.2 percentage point improvement in December's "functional unemployment" rate?a new report from the?Ludwig Institute for Shared Economic Prosperity paints a starkly different pic...
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of Primerica Life Insurance Company and its affiliates, National Benefit Life Insurance Company and Primerica Life Insurance Company of Canada, collectively referred to as Primerica Group.
South Africa's President Cyril Ramaphosa said on Wednesday that he was not worried about the country's relationship with the U.S. under President Donald Trump. Ramaphosa said he spoke to Trump after his U.S. election victory and looked forward to working with his administration. "I'm not worried about our relations. South Africa currently holds the G20 presidency, after which the U.S. takes over.
* Scope warns UK's AA rating may be at risk if gilt sell-offs continue. * Worry is over risk that gilts, sterling could be losing safe-haven status. * UK debt nearly 100% of GDP, borrowing surged in December. By Marc Jones.
A record-breaking year for bond issuance will likely be followed by another strong year for munis even as the threat of ending the tax-exempt status appears in writing within the halls of Congress.
From threats to the tax exemption to state budget challenges and tariffs to insurance risks, this year is already shaping up to be the previous one's equal in sheer excitement.
At the World Economic Forum, Jeff Rowe, CEO of Syngenta Group, presented the five key trends in AI that will define agriculture in 2025. This press release features multimedia. The five key trends in AI identified by Syngenta are: Jeff Rowe, CEO of Syngenta Group, stated: ?AI and digital tools are revolutionizing farming and sustainable practices.
NEW YORK, Jan. 22, 2025 The Conference Board Leading Economic Index? for the US inched down by 0.1% in December 2024 to 101.6, after an upwardly revised increase of 0.4% in November. "The Index fell slightly in December failing to sustain November's increase," said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board.
Meet the Infrastructure Capital Bond Income ETF (BNDS) ?a new player in the fixed-income space designed to deliver high current income with a side of capital growth. The ETF, launched Jan. 15, focuses on corporate bonds but also dips into municipal and government bonds, offering a diverse mix.
Billionaire investor Ray Dalio has disclosed that he owns ?a little? Bitcoin , although he did not disclose the specific amount. What Happened: In an interview with CNBC in Davos on Wednesday, Dalio stated his Bitcoin holdings are ?little, like 1% kind of?? of his portfolio and that in general investors need to think about their alternative forms of money.
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of ?a-? of Malaysian Reinsurance Berhad. The ratings reflect Malaysian Re?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
National Home Price Growth Projected to Decelerate, With Regional Variations Expected? WASHINGTON, Jan. 22, 2025 The recent jump in the 10-year Treasury yield and the resulting rise in mortgage rates are expected to continue to weigh on existing home sales in the near future, likely keeping them at or near their lowest level since 1995, according to the?January 2025 commentary from the Fannie ...
NEW YORK, Jan. 22, 2025 Nuveen, the investment manager of TIAA, is expanding access to its flagship municipal investment platform with the launch of two actively-managed exchange-traded funds.
European Central Bank interest rates will keep falling as policymakers are confident that inflation will stabilise at the bank's 2% target, Finnish central bank chief Olli Rehn said on Wednesday. "We are now confident that inflation will stabilise at the target as predicted and monetary policy will stop being restrictive in the near future," Rehn said in a speech in Oulu, Finland.
PAR Technology Corporation (PAR), announced today that it priced a private offering of $100 million aggregate principal amount of 1.00% Convertible Senior Notes due 2030. The Notes will be general unsecured obligations of the Company.
* Inflation expected to rise before moderating in 2025, Yaron says. * Shekel appreciates this month, ceasefires reduce Israel's risk premium. * Fiscal policies and geopolitical issues may affect rate cut decisions. By Brad Haynes.
DUBLIN, Jan. 22, 2025 /PRNewswire/ --?Aon plc?, a leading global professional services firm, today published its 2025 Climate and Catastrophe Insight report, which identifies global natural disaster and climate trends to quantify the risk and human impact of extreme weather events in 2024.
China will grant foreign financial institutions the same treatment as domestic ones in offering new types of financial services not yet available in the country in some free trade zones, the central bank said on Wednesday.
European Central Bank policymaker Yannis Stournaras expects the ECB to reduce interest rates gradually towards 2% by the end of 2025, and U.S. tariffs from the Trump administration could make faster cuts necessary, he said in an interview published on Wednesday.
Yields on shorter-end Japanese government bonds rose to a one-week high on Wednesday as the market braced for the Bank of Japan to raise interest rates this week. The two-year JGB yield rose 2 basis points 0.69% and the five-year yield rose 2.5 bps to 0.87%, their highest level since Jan. 16. The 10-year JGB yield rose 1 bp to 1.195%, also its highest since Jan. 16.
Japan's retailers, typically among the most tight-fisted of employers, are offering big pay increases for a second year in a row, meaning squeezed profits for companies, more spending money for workers, and a green light for more central bank rate hikes.
- Oil prices held near a one-week low on Wednesday as the market considers how U.S. President Donald Trump's proposed tariffs could affect global economic growth and demand for energy.
Enact Holdings, Inc. (ACT), a leading provider of private mortgage insurance through its insurance subsidiaries, today announced that Fitch Ratings upgraded the insurance financial strength rating for our flagship insurance subsidiary, Enact Mortgage Insurance Corporation, to A from A-. Fitch also upgraded Enact?s senior debt rating to BBB from BBB-. The outlook for both ratings is stable.
Underperforming since the calendar turned, "munis have continued to cheapen over the past three weeks as Treasury returns are about flat for the year while munis are down 0.31%," said Jason Wong, vice president of municipals at AmeriVet Securities.
* US 10-year, two-year yields slip, but tariff threat lingers. * Markets price in 38 bps of Fed easing in 2025. * Trump says he may impose tariffs on Canada, Mexico next month. * US 2/10 curve flattens, hits narrowest gap since late December. By Gertrude Chavez-Dreyfuss.
In response to the devastating wildfires in the greater Los Angeles region, the Federal Home Loan Bank of San Francisco announced it will contribute $2 million to aid ongoing response and relief efforts and provide front line support in impacted communities.
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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