* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Nikkei rallies as yen eases, China shares hit 5-year low. * Fed leads five central bank meetings this week. * Treasuries to be tested by $108 bln of new supply. By Wayne Cole.
Investors seeking to cash in on a policy pivot from the European Central Bank will watch Thursday's meeting for any hint they should sit tight on bets for swift interest rate cuts next year. Euro zone inflation is tumbling and the economy may be in a shallow recession, so traders don't buy the ECB's mantra that rates will stay high for some time.
A look at the day ahead in European and global markets from Wayne Cole. It's set to be a pivotal week as the Federal Reserve leads a quintet of rich-world central bank meetings that will test market optimism for early and rapid-fire rate cuts next year.
A look at the day ahead in European and global markets from Wayne Cole. It's set to be a pivotal week as the Federal Reserve leads a quintet of rich-world central bank meetings that will test market optimism for early and rapid-fire rate cuts next year.
- Goldman Sachs forecasts the U.S. Federal Reserve delivering the first rate cut in the third quarter of next year, earlier than its previous forecast of the fourth quarter, citing better inflation news.
* Focus on U.S. CPI data on Tuesday. * Fed statement, Powell speech eyed for more guidance. * Goldman sees Fed delivering its first rate cut in Q3 2024. * Speculators cut net long position in COMEX gold - CFTC. By Brijesh Patel.
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Nikkei rallies 1.6%, S&P 500 futures flat. * Fed leads five central bank meetings this week. * Treasuries to be tested by $108 bln of new supply. By Wayne Cole.
Gold steadied on Monday after a sharp decline in the previous session, as investors looked forward to several major central bank meetings and U.S. inflation data release this week for further direction. FUNDAMENTALS. * Spot gold was up 0.1% at $2,005.85 per ounce as of 0038 GMT, after dropping about 3.3% last week in its worst week in more than two months.
The dollar started Monday on the front foot, with a reading on U.S. inflation and the Federal Reserve's last policy meeting for the year likely to set the tone for the week, while rising deflationary pressure in China leant on the yuan.
The dollar started Monday on the front foot, with a reading on U.S. inflation and the Federal Reserve's last policy meeting for the year likely to set the tone for the week, while rising deflationary pressure in China leant on the yuan.
Asian shares drifted lower on Monday in a week packed with a quintet of rich world central bank meetings and data on U.S. inflation that could make or break market hopes for an early and rapid-fire round of rate cuts next year. An upbeat payrolls report has already seen investors scale back expectations for a March cut by the Federal Reserve, though May remains priced at a 76% chance.
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Nikkei rallies 1%, S&P 500 futures flat. * Fed leads five central bank meetings this week. * Treasuries to be tested by $108 bln of new supply. By Wayne Cole.
* Nov CPI -0.5% y/y vs -0.2% in Oct. * Nov CPI -0.5% m/m vs -0.1% in Oct. * Nov PPI -3.0% y/y vs -2.6% in Oct. China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery.
China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery. The consumer price index dropped 0.5% both from a year earlier and compared with October, data from the National Bureau of Statistics showed on Saturday.
- A look at the day ahead in Asian markets. Asian markets are set for a positive open on Monday, taking the baton from Wall Street on Friday after a surprise fall in the U.S. unemployment rate bolstered the view that an economic 'soft landing' will be achieved and recession avoided.
A look at the day ahead in Asian markets. Asian markets are set for a positive open on Monday, taking the baton from Wall Street on Friday after a surprise fall in the U.S. unemployment rate bolstered the view that an economic 'soft landing' will be achieved and recession avoided.
By Lewis Krauskopf. The Federal Reserve's last monetary policy meeting of 2023 and a U.S. inflation report in coming days should test a stock market rally that some view as stretched following weeks of gains. Bets the Fed will begin cutting interest rates sooner than expected have fueled a surge in U.S. equities, which received a tailwind from a rapid decline in Treasury yields.
Ahead of next week?s Federal Reserve?s monetary policy meeting, former Treasury Secretary Larry Summers sounded a note of caution to central bank officials. What Happened: ?The Fed is in broadly the right place of watchful waiting,? said Summers in a Bloomberg interview on Friday. The economist, therefore, advised caution.
The U.S. has witnessed?a dramatic spike in its national debt, with an increase of a staggering $240 billion in November?2023 alone. What Happened: The significant rise has sparked concerns about the nation's economic health and stability.
The U.S. has witnessed?a dramatic spike in its national debt, with an increase of a staggering $240 billion in November?2023 alone. What Happened: The significant rise has sparked concerns about the nation's economic health and stability.
Russia said on Saturday it was looking into whether its frozen gold reserves, taken after Russia invaded Ukraine, could be used to fund the climate damage fund to help developing countries.
* Nov CPI -0.5% y/y vs -0.2% in Oct. * Nov CPI -0.5% m/m vs -0.1% in Oct. * Nov PPI -3.0% y/y vs -2.6% in Oct. China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery.
China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery. The consumer price index dropped 0.5% both from a year earlier and compared with October, data from the National Bureau of Statistics showed on Saturday.
China's consumer prices extended their decline in November while factory-gate deflation deepened, as persistent weakness in demand casts doubts over the sustainability of the economic recovery. The consumer price index dropped 0.5% in November both from a year earlier and compared with October, data from the National Bureau of Statistics showed on Saturday.
The Federal Reserve's last monetary policy meeting of 2023 and a U.S. inflation report in coming days should test a stock market rally that some view as stretched following weeks of gains. Bets the Fed will begin cutting interest rates sooner than expected have fueled a surge in U.S. equities, which received a tailwind from a rapid decline in Treasury yields.
The Federal Reserve's last monetary policy meeting of 2023 and a U.S. inflation report in coming days should test a stock market rally that some view as stretched following weeks of gains. Bets the Fed will begin cutting interest rates sooner than expected have fueled a surge in U.S. equities, which received a tailwind from a rapid decline in Treasury yields.
The Federal Reserve's last monetary policy meeting of 2023 and a U.S. inflation report in coming days should test a stock market rally that some view as stretched following weeks of gains. Bets the Fed will begin cutting interest rates sooner than expected have fueled a surge in U.S. equities, which received a tailwind from a rapid decline in Treasury yields.
* FITCH DOWNGRADES SLOVAKIA TO 'A-'; OUTLOOK STABLE. * FITCH ON SLOVAKIA SAYS DOWNGRADE REFLECTS A DETERIORATION IN PUBLIC FINANCES AND AN UNCLEAR CONSOLIDATION PATH. * FITCH ON SLOVAKIA: GOVERNMENT'S CONSOLIDATION STRATEGY REMAINS UNCERTAIN, DO NOT EXPECT DEBT TO STABILISE OVER NEXT FEW YEARS IN OUR BASELINE SCENARIO.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a+? of The Lincoln National Life Insurance Company and its wholly owned subsidiary, Lincoln Life & Annuity Company of New York.
Ratings agency Moody's on Friday revised its outlook on Nigeria to positive from stable, citing possible reversal of the deterioration in the country's fiscal and external position due to authorities' reform efforts. The agency also affirmed its "Caa1" long-term foreign currency and local currency issuer ratings.
KBRA assigns a long-term rating of A, with a Stable Outlook to the City of Chicago ? Chicago Midway Airport Senior Lien Airport Revenue and Revenue Refunding Bonds, Series 2023A; Senior Lien Airport Revenue Refunding Bonds, Series 2023B; and Senior Lien Airport Revenue Refunding Bonds Series 2023C.
Ratings agency Moody's on Friday revised its outlook on Nigeria to positive from stable, citing possible reversal of the deterioration in the country's fiscal and external position due to authorities' reform efforts. The agency also affirmed its "Caa1" long-term foreign currency and local currency issuer ratings.
A gauge of global stocks rose on Friday, on pace for its sixth straight week of gains, while U.S. Treasury yields shot higher after a strong U.S. jobs report forced markets to modify expectations for the timing of rate cuts by the Federal Reserve.
* Consumer sentiment picks up in December. * U.S. job growth beats estimates in November. * Honeywell (HON) slips after buyout deal for Carrier unit. * Indexes: S&P 500 +0.41%, Nasdaq +0.45%, Dow +0.36% By Noel Randewich and Amruta Khandekar.
AM Best has revised the outlook to positive from stable and affirmed the Long-Term Issuer Credit Rating of ?bbb-? and the Mexico National Scale Rating of ?aa-.MX? of Grupo Aserta S.A.P.I. de C.V.. Concurrently, AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A-, the Long-Term ICR of ?a-? and the NSR of ?aaa.MX? of Aseguradora Insurgentes, S...
CVR Energy, Inc. (CVI) announced today the pricing of its private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, of $600 million in aggregate principal amount of?8.500% senior unsecured notes due 2029. The Company intends to use the net proceeds from the Offering, together with cash on hand, to redeem all of its outstanding 5.250% Senior Notes due 2025.
The new-issue calendar comes in just over $3 billion, of which is $847 million of state personal income tax revenue bonds from the Empire State Development in three competitive sales.
* TSX ends up 0.3% at 20,331.54. * For the week, the index falls 0.6% * Canadian Western Bank (CWESF) rallies on earnings beat. By Fergal Smith. Canada's main stock index edged higher on Friday as higher oil prices bolstered energy shares and investors assessed the latest U.S. jobs data for clues on the next steps by the Federal Reserve.
Speculators' net bearish bets on two-year U.S. Treasuries rose to record highs in the latest week, while net bets against U.S. 10-year Treasury note futures dropped slightly, according to Commodity Futures Trading Commission data released on Friday.
* Consumer sentiment picks up in December. * U.S. job growth beats estimates in November. * Honeywell (HON) slips after buyout deal for Carrier unit. By Noel Randewich and Amruta Khandekar. Dec 8 - U.S. stock indexes closed higher on Friday, with strong gains from Nvidia (NVDA) and Meta Platforms (META) after a robust U.S. jobs report fueled investor optimism about a soft landing for the economy.
Colombia's peso gained on Friday after
economic data signaled inflation pressures still remained a
concern for the local central bank, while most other Latin
American currencies rose after U.S.
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A-, the Long-Term Issuer Credit Rating of ?a-? and the Mexico National Scale Rating of ?aaa.MX? of General de Salud, Compa??a de Seguros, S.A.. The Credit Ratings reflect Gsalud?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limi...
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.
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