* S&P 500 and EU stocks pare losses, Nikkei bounces. * Brent eases as Iran says progress made in peace talks. * Treasury yields up, Fed futures wager on September hike. * Sterling soft on reports UK PM Starmer may resign. By Wayne Cole.
* S&P 500 and EU stocks futures slip, Nikkei edges up. * Oil climbs as Iran claims it has shut Strait of Hormuz. * Treasury yields rise, Fed futures wager on September hike. * Sterling soft on reports UK PM Starmer may resign. By Wayne Cole.
Brazil's central bank will hold a spot dollar auction of up to $1 billion on June 22, and a simultaneous reverse foreign exchange swap auction, it said in separate statements on Friday. Both deals start at 9:20 a.m. local time, the central bank said. A reverse FX swap, which in this case involves up to 20,000 contracts, is equivalent to buying U.S. dollars in the futures market.
* Companies have de-risked from China too slowly - von der Leyen. * EU goods trade deficit with China totals about ?1 billion/day. * EU leaders seek review to determine if new trade measures needed. By Philip Blenkinsop and Charlotte Van Campenhout.
Euro zone government bond yields rose on Friday as oil prices ticked higher after U.S.-Iran peace negotiations in Switzerland were abruptly called off and as European Central Bank policymakers talked tough on inflation. Germany's 10-year bond yield, the benchmark for the bloc, rose 6 basis points to 2.987%, having fallen to a more than two-month low of 2.915% on Wednesday.
iLending, a leading national auto loan refinance platform, today responded to the Federal Reserve?s latest policy decision to hold benchmark interest rates steady at 3.50%?3.75%, signaling that borrowing costs may remain elevated for longer than previously expected.
Gold prices fell early Friday for a second straight session, even as the dollar retreated from a 13-month high reached after the Federal Reserve indicated it may raise interest rates to curb rising inflation. Gold for July delivery was last seen down 1.8% to US$4,168.90 per ounce.
Rising fuel costs are weighing on Canadian household spending, with higher gasoline prices eroding real consumption through the spring, said CIBC Economics after Friday's retail sales data. April retail sales rose 0.5% month over month, slightly below expectations of a 0.6% month-over-month increase, but the gain was largely price-driven, wrote the bank in a note.
The Canadian dollar on Thursday fell to 70.7 US cents, or above $1.413/US dollar, its lowest ebb in more than a year, said Bank of Montreal late Thursday.
* Cut is below market, analysts' expectations. * Central bank cites fall in fuel output, budget deficit as risks. * Nabiullina reappears after three-week sick leave. * Strikes on refineries add to economic woes. By Elena Fabrichnaya and Gleb Bryanski.
Everything Mike Dolan and the ROI team are excited to read, watch and listen to over the weekend. From the Editor. Hello Morning Bid readers!?. We have a deal -?sort of. Even a hawkish shift from the Federal Reserve during Kevin Warsh's debut policy meeting on Wednesday was not enough to sideline stocks for long, as the prospect of lower energy prices buoyed investors globally.
U.S. Federal Reserve Chairman Kevin Warsh put his stamp on the job fast this week at a debut policy meeting that produced a return to stripped-down, 1990s-style central banking, before this century's crises put the Fed center-stage in economic management and turned its leader into a consoler-in-chief for Wall Street and Main Street alike.
* The Fed left rates unchanged at 3.5% to 3.75% at Warsh's first meeting. * Warsh comments, and committee projections, seemed skewed towards hikes. * Analysts said Warsh's sparse messaging risked amplifying market moves. By Howard Schneider.
* MSCI downgrades Turkey's information flow measure to negative. * South Korean shares ease from record highs. * Russian central bank meeting awaited. * Indian assets poised to break five-day winning streak.
* Japanese currency retraces some weakness as inflation cools. * Hawkish turn from Fed's Warsh strengthens dollar. * Sterling holds steady after Burnham wins Makerfield by-election. * Dollar at seven-month high on Swiss franc. By Alun John and Gregor Stuart Hunter.
The Bank of England on Friday set out the scenario for this year's stress test of private markets, modelling a severe global shock that sends equity markets down 35% and pushes inflation to 7%. The test assumes unspecified geopolitical events disrupt supply chains, triggering a deep downturn in which Britain's economy shrinks by 4% and unemployment rises.
* Goldman Sachs cuts December gold price target. * U.S.-Iran peace talks in Switzerland cancelled. * Silver, platinum, palladium set for weekly falls. By Ashitha Shivaprasad. Gold prices fell on Friday, putting the yellow metal on track for a third straight weekly decline, pressured by a firmer U.S. dollar and a hawkish Federal Reserve.
Greece's current account deficit shrank in April from a year earlier thanks to robust exports and tourism receipts, Bank of Greece data showed on Friday. * The current account deficit stood at 1.4 billion euros in April, down from 2.4 billion euros in the same month last year. * Exports rose by 36% in April, outpacing imports. * Tourism revenue increased by 9.5% to 1.1 billion euros.
Bank of Japan Governor Kazuo Ueda was discharged from hospital on Friday, the central bank said. Ueda will come into the office to work from Tuesday and continue treatment for about two weeks, the BOJ said in a statement. The 74-year-old governor had been in hospital for about two weeks getting treatment for an infected liver cyst.
The Bank of Japan may raise interest rates twice by the end of the current fiscal year, after making a landmark shift in its policy focus toward mounting inflation risk, former board member Makoto Sakurai said on Friday. The central bank justified Tuesday's decision to raise its short-term policy rate to a 31-year high of 1% to forestall the risk of underlying inflation exceeding its 2% target.
Bank of Japan Governor Kazuo Ueda has been discharged from hospital on Friday, the central bank said. Ueda will come into office to work from Tuesday and continue treatment for about two weeks, the BOJ said in a statement.
Euro zone government bond yields rose on Friday as oil prices ticked higher after U.S.-Iran peace talks in Switzerland were abruptly called off and as European Central Bank policymakers talked tough on inflation. Germany's 10-year bond yield, the benchmark for the bloc, rose 3 basis points to 2.955%, having fallen to a more than two-month low of 2.915% on Wednesday.
Britain's FTSE 100 index is seen opening lower on Friday, with futures down 0.1%. * BARRATT REDROW (BTDPF): BARRATT REDROW (BTDPF) named Rebecca Napier, the former chief financial officer of drinks maker Britvic, as its new finance chief, effective from August 3. * ENTAIN (GMVHF): ENTAIN (GMVHF) has begun exploring options for its joint venture in Central and Eastern Europe, including a possible sale, three people familiar wi...
* Dollar hits one-year high on Fed hike bets. * Traders see 87% chance of U.S. rate hike in December. * All precious metals set for weekly decline. * Goldman Sachs lowers December gold price target to $4,900/oz. By Noel John.
* Brent falls 1% as tankers move through the Strait of Hormuz. * Wall Street futures slip, cash Treasuries closed for U.S. holiday. * Dollar stands tall near one-year high, eyes on yen amid intervention risks. By Stella Qiu.
Gold prices edged lower on Friday and
were on track for a third consecutive weekly decline, as a
stronger dollar and hawkish signals from the U.S. Federal
Reserve weighed on the non-yielding metal.
The yen was pinned near four-decade lows on Friday, with markets on heightened intervention watch as neither a U.S.-Iran peace deal nor a rate hike in Japan managed to arrest its prolonged slide. The yen was 0.1% stronger against the U.S. dollar at 161.205 yen, steadying after dropping to a two-year low on Thursday, though holidays in the U.S. and much of Asia kept liquidity thin.
European Union leaders debated on Thursday new and tougher measures that could be needed to curb the bloc's growing trade deficit with China and its heavy reliance on the world's second-largest economy for rare earths and other critical supplies.
* May core CPI rises 1.4% yr/yr, matches forecast. * Index excluding fresh food, fuel rises 1.8% yr/yr in May. * Analysts expect inflation to accelerate in coming months. By Leika Kihara. Japan's annual core inflation stayed below the central bank's 2% target for a fourth straight month in May, data showed on Friday, as fuel subsidies offset rising raw material costs from the Middle East conflict.
Keyera (KEYUF) after the close Thursday agreed to issue $1 billion of senior unsecured notes in a two-tranche offering expected to close on June 22. According to the statement, the proceeds will be used partially to repay indebtedness. Shares of the company closed down $0.25 to $55.96 0n Toronto Stock Exchange. MT Newswires does not provide investment advice.
Down Payment Assistance Program Assists with Housing Affordability. The Federal Home Loan Bank of Dallas Homebuyer Equity Leverage Partnership grant made homeownership possible for Ricky Corriz and his family by providing down payment assistance. This press release features multimedia.
AM Best has commented that the Long-Term Issue Credit Rating of ?a-? on the CAD 400 million 4.40% senior unsecured notes due Feb. 27, 2036, originally issued on Feb. 24, 2026 by Fairfax Financial Holdings Limited (FRFHF) [TSX: FFH], remains unchanged despite the additional notes being added to the same series.
A tech-powered rally boosted U.S. stocks on Thursday, while crude prices dropped as supertankers sailed through the reopened Strait of Hormuz hours after U.S. President Donald Trump signed a peace deal with Iran.
SpaceX on Thursday landed investment-grade credit ratings from Moody's, Fitch and S&P Global Ratings, each assigning a "stable" outlook after the Elon Musk-led company's high-profile initial public offering. The consensus signals broad confidence in SpaceX's financial stability, as the company moves forward with a costly and ambitious AI push in a competitive market.
SpaceX on Thursday landed investment-grade credit ratings from Moody's, Fitch and S&P Global Ratings, each assigning a "stable" outlook after the Elon Musk-led company's high-profile initial public offering. The consensus signals broad confidence in SpaceX's financial stability, as the company moves forward with a costly and ambitious AI push in a competitive market.
The Toronto Stock Exchange edged lower on Thursday as weakness in commodity-linked sectors, including energy, battery metals and base metals, outweighed gains in financial and industrial stocks, while investors assessed fresh economic data and the outlook for Bank of Canada monetary policy. The S&P/TSX Composite Index closed down 155.85 points, or 0.44%, at 34,969.26 with sector finishing mixed.
Most Latin American currencies weakened
against a firmer dollar on Thursday, as investors weighed the
growing chances of a U.S. Federal Reserve interest rate hike
later this year, offsetting optimism ...
The latest round of Federal Reserve financial disclosures is coming with an unusually wide range of granularity. Take the filing made public Thursday dealing with Fed Governor Lisa Cook. But she also lists receiving a "game night" prize of a two-night hotel stay valued at just shy of $800.
The latest round of Federal Reserve financial disclosures is coming with an unusually wide range of granularity. Take the filing made public Thursday dealing with Fed Governor Lisa Cook. But she also lists receiving a "game night" prize of a two-night hotel stay valued at just shy of $800. The speed of that sale raised questions in many quarters as to who may have bought it.
Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index easing 0.3% and the State Street Financial Select Sector SPDR ETF shedding 0.7%. The Philadelphia Housing Index gained 3%, and the State Street Real Estate Select Sector SPDR ETF decreased 0.2%. Bitcoin fell 2.5% to $62,660, and the yield for 10-year US Treasuries rose 2 basis points to around 4.45%. I...
* BANK OF CANADA TO HOLD 15 BOND AUCTIONS IN COMING QUARTER, BOND AUCTION SCHEDULE SHOWS Source text: https://www.bankofcanada.ca/markets/government-securities-auctions/calls-for-tenders-and-results/bond-auction-schedule/
Financial stocks fell in late Thursday afternoon trading, with the NYSE Financial Index easing 0.3% and the State Street Financial Select Sector SPDR ETF shedding 0.8%. The Philadelphia Housing Index climbed 3%, and the State Street Real Estate Select Sector SPDR ETF decreased 0.1%. Bitcoin fell 2.5% to $62,660, and the yield for 10-year US Treasuries decreased 1 basis point to 4.45%. In corpor...
The Philadelphia Federal Reserve's manufacturing reading rose to 10.3 in June from minus 0.4 in May. The index of leading indicators rose by 0.1% in May after a 0.2% gain in April, with positive contributions from six of the ten components, especially stock prices.
The Federal Reserve is unlikely to raise interest rates anytime soon, if at all, despite the removal of the so-called easing bias from its monetary policy statement, Stifel said Thursday. The US central bank kept its key interest rate steady on Wednesday for the fourth consecutive time, and removed language suggesting a bias toward rate cuts.
AM Best has assigned a Long-Term Issue Credit Rating of ?aa? to the $2 billion 6.05% fixed rate surplus notes, due 2056, issued by Teachers Insurance and Annuity Association of America.
Gold was lower in late-day trading Thursday as the dollar rose to its highest level in more than a year after the US Federal Reserve left interest rates unchanged at the conclusion of its two-day policy meeting on Wednesday. Gold, which has an inverse relationship with the greenback, was down US$135.90 to US$4,245.70 per ounce.
Cameron Hamilton, the current nominee to head up the Federal Emergency Management Agency, responded to accusations of political bias during a Senate hearing on Wednesday.
Financial stocks fell in Thursday afternoon trading with the NYSE Financial Index easing 0.1%, erasing earlier gains, and the State Street Financial Select Sector SPDR ETF shedding 0.6%. The Philadelphia Housing Index jumped 3.7%, and the State Street Real Estate Select Sector SPDR ETF added 0.2%. Bitcoin fell 5% to $62,532, and the yield for 10-year US Treasuries dropped 2.2 basis points to 4....
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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