Brexit is opening a new chapter for Britain to think "creatively" about keeping the UK an attractive location for international financial services companies, Britain's finance minister Rishi Sunak told the Bank of England. Britain left the EU's single market on Dec. 31 and its trade deal with the bloc does not cover cross-border financial services.
Sallie Mae Helps Students and Families Evaluate Offers to Make an Informed Decision About Paying for College This spring, students and families will start receiving financial aid offers from colleges and universities. Financial aid offers come in all shapes and sizes, with different formats and terminology, and students might be left questioning which offer is best for them.
Brexit is opening a new chapter for Britain to think "creatively" about keeping the UK an attractive location for international financial services companies, Britain's finance minister Rishi Sunak told the Bank of England. Britain left the EU's single market on Dec. 31 and its trade deal with the bloc does not cover cross-border financial services.
U.S. private payrolls increased by' sluggish' 117,000 in February, ADP says. Private payrolls rose by 117,000 jobs in February after adding a revised 195,000 in the prior month, according to the ADP National Employment Report released Wednesday. Stock Futures Waver on Vaccine, Stimulus Hopes.
SAO PAULO--Brazil's economy contracted in 2020 at the fastest pace in more than 20 years after social distancing measures intended to slow the spread of the coronavirus shut many businesses in the middle of the year and slashed activity. Gross domestic product shrank 4.1% last year, the biggest contraction since the current series began in 1996, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. GDP increased 3.2% in the fourth quarter from the...
Brazil's Economy Ministry on Wednesday kept its 2021 economic growth forecast of 3.2%, but noted that uncertainty remains high due to the deadly second wave of the COVID-19 pandemic and the first quarter in particular will be challenging.
The nonfarm private sector in the U.S. slowed its pace of job gains in February despite falling Covid-19 infections and the easing of restrictions in several states, data from ADP National Employment Report showed Wednesday. Total U.S. nonfarm private employment increased by 117,000 in February. Economists polled by The Wall Street Journal were expecting payrolls to increase by a much higher 225,000..
Morocco's trade deficit shrank by 32.7% to stand at 16.4 billion dirhams in January, the foreign exchange regulator said on Wednesday. Moroccan imports dropped 16% to 41.7 billion dirhams and exports decreased 5.2% to 25.3 billion dirhams compared with the same month a year earlier, the regulator said in its monthly report.
Mastercard Inc. (MA) said Wednesday that it has issued a 10- year $600 million bond tied to its sustainability goals. The digital-payments company said the proceeds from the bond will help it achieve its goal of reaching net-zero emissions by 2050 and improving financial inclusion. Mastercard (MA) has promised to bring 1 billion people and 50 million small businesses into the digital economy by 2025..
Malaysian police said on Wednesday it was investigating the husband of the country's former central bank head for allegedly receiving funds linked to 1MDB, a state fund at the centre of a massive corruption scandal.
U.S. private payrolls increased less than expected in February amid job losses in manufacturing and construction, suggesting the labor market was struggling to regain speed despite the nation's improving public health picture. Private payrolls rose by 117,000 jobs last month, the ADP National Employment Report showed on Wednesday.
Britain will expand the remit of the Bank of England to include environmental sustainability and its drive to create a net-zero carbon economy, finance minister Rishi Sunak said on Wednesday. " will be an updated monetary policy remit for the Bank of England. "But now, it will also reflect the importance of environmental sustainability and the transition to net zero."
It would be natural for the central bank to keep its current accommodative stance on short- and long-term rates for a prolonged period given deflation risks, Japan's top currency official Kenji Okamura said on Wednesday.
ROSELAND, N.J., March 3, 2021 Private sector employment increased by 117,000 jobs from January to February according to the February ADP? National Employment ReportTM. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute? in collaboration with Moody's Analytics.
Federal Reserve: 1, bond markets: 0. That's more or less where it stands after Round One in the tussle over borrowing costs. February's bond selloff sent U.S. 10- and 30-year Treasury yields more than 30 basis points higher while governments from France to Australia saw their borrowing costs jump.
* Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr. By Elizabeth Howcroft. Euro zone government bond yields edged up on Wednesday, in line with an uptick in global market risk appetite, but remained below the previous week's spike, as market participants focused on comments from central bank policymakers.
ION Geophysical Corp (IO): * ION SECURES REQUISITE BACKSTOP SUPPORT FOR RIGHTS OFFERING, ANOTHER KEY BOND RESTRUCTURING MILESTONE. * ION Geophysical Corp (IO) - HAS SECURED MORE THAN $20 MILLION IN BACKSTOP SUPPORT FOR ITS RIGHTS OFFERING Source text for Eikon: Further company coverage:
Britain's economy is forecast to grow 4% in 2021, finance minister Rishi Sunak said on Wednesday, citing the latest projections from the Office for Budgetary Responsibility during his budget statement. Wednesday's forecasts were lower than those produced in November, when the OBR had forecast a 5.5% rebound for 2021.
ION Geophysical Corporation (IO) today announced that the Company has secured more than $20 million in backstop support for its rights offering. The Company will seek to obtain additional backstop support in connection with the rights offering until the maximum amount is secured or the record date is reached.
SAO PAULO--Brazil's economy expanded in the fourth quarter from the third as the recovery from the worst period of the coronavirus pandemic continued, but the impact of the health crisis still left gross domestic product smaller compared with a year earlier. GDP increased 3.2% in the fourth quarter from the previous three months, and contracted 1.1% from the fourth quarter of 2019, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday.
Brazil's economy shrank last year by 4.1% amid the pandemic, data showed on Wednesday, the worst drop in decades, but not as much as originally expected due to cash transfers to the poor. Latin America's largest economy grew by 3.2% in the fourth quarter, according to official statistics agency IBGE, more than the 2.8% median estimate in a Reuters poll of economists.
* Euro STOXX up 0.4% * German stocks hits record high. * Equities gain on economic optimism. * Treasury market remains calm after sell-off. * Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn. * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Tom Wilson.
* Futures up: Dow and S&P 0.6%, Nasdaq 0.7% By Shashank Nayar and Medha Singh. U.S. stock index futures rose on Wednesday as a swift global roll out of vaccines and a new round of stimulus bolstered bets on a quick economic rebound, with investors also focusing on private employment and service sector reports.
Brazil's economy grew by 3.2% in the three months to December last year, government statistics agency IBGE said on Wednesday, the second consecutive quarter of expansion, which reduced the calendar year drop in gross domestic product to 4.1%. The increase in Brazil's GDP from the prior quarter was more than the 2.8% median forecast in a Reuters poll of economists, while the 1.1% drop from a yea...
U.S. mortgage rates jumped by the most in nearly a year last week to their highest level since July on the heels of a surge in Treasury bond yields, which are moving up on expectations of an economic rebound in the months ahead as coronavirus vaccines reach a larger share of Americans.
NEW YORK, March 3, 2021 ?Empowering?broker-dealers and institutional investors to better connect and trade corporate bonds digitally, Broadridge Financial Solutions (BR), Inc.?, a global Fintech leader, today announced that the U.S. Patent and Trademark Office has granted LTX, a Broadridge company,?U.S. Patent No.10922773. The patent covers its artificial intelligence-driven RFX digital trading prot...
Treasury prices have stabilized following last month's rout, but many investors say a continued recovery likely hinges on an imminent decision on U.S. capital rules for banks. A special exemption allowing banks to hold less capital compared with the size of their balance sheets is due to expire March 31, nearly a year after its adoption to facilitate the Federal Reserve response to the coronavirus pandemic. The exemption enables large banks to exclude their holdings of...
The Italian economy's contraction in the fourth quarter of last year was slightly less pronounced than previously estimated, data from the country's statistics agency Istat showed Wednesday. For the October-December period, gross domestic product fell 1.9% over the previous quarter, whereas the preliminary estimate released on Feb. 2 had reported a 2.0% drop. In year-on-year terms, GDP shrank 6.6% in the quarter, unchanged from the preliminary estimate.
The euro zone economy is almost certainly in a double-dip recession as COVID-19 lockdowns continue to hammer the services industry, but hopes for a wider vaccine rollout has driven optimism to a three-year peak, a survey showed on Wednesday.
Central European currencies
recouped some recent losses on Wednesday as U.S. treasury yields
retreated, the dollar weakened and risk appetite grew, while
markets in the region eyed a central bank ...
Fed's Brainard Says Bond Yield Surge' Caught My Eye,' Is Upbeat on Outlook. Federal Reserve governor Lael Brainard said the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. Senate Democrats Iron Out Details on Covid-19 Aid Package.
Eurozone producer prices rose more than expected in January signalling stronger inflationary pressures early in the pipeline, data from the European Union's statistics office Eurostat showed on Wednesday. Eurostat said prices at factory gates rose 1.4% month-on-month in January for a 0.0% year-on-year change.
* Euro STOXX up 0.7% * German stocks hits record high. * Equities gain on economic optimism. * Treasury market remains calm after sell-off. * Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn. * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Tom Wilson and Stanley White.
* Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr. Euro zone government bond yields were little changed on Wednesday, as the market calmed after its recent yield spike and market participants focused on comments from European Central Bank policymakers.
Fed's Brainard Says Bond Yield Surge' Caught My Eye,' Is Upbeat on Outlook. Federal Reserve governor Lael Brainard said the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. Senate Democrats Iron Out Details on Covid-19 Aid Package.
A look at the day ahead from Danilo Masoni. No wonder, world stocks are marching back toward peak levels. We get another snapshot of the world economy from final PMI figures in a range of countries but advance readings have looked good. As demand for safe-havens abated, the U.S. dollar slipped from near one-month highs.
Fed's Brainard Says Bond Yield Surge' Caught My Eye,' Is Upbeat on Outlook. Federal Reserve governor Lael Brainard said the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. Biden Says U.S. to Have Vaccines for All Adults by End of May.
* Asian stock markets: https://tmsnrt.rs/2zpUAr4. * Equities enjoy gains due to economic optimism. * Treasury market remains calm after sell-off. * Aussie in focus after positive economic data. By Stanley White and Koh Gui Qing.
Wipro Limited (WIT), a leading global information technology, consulting and business process services company, today announced that it has joined the ?Partnering for Racial Justice in Business initiative? launched by the World Economic Forum to promote a culture of diversity, inclusion, equity and justice for people of all racial backgrounds in the workplace.
Beyond Meat, Inc. (BYND) today announced the pricing of its offering of $1,000,000,000 aggregate principal amount of 0% convertible senior notes due 2027 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The notes will be senior, unsecured obligations of Beyond Meat.
Fed's Brainard Says Bond Yield Surge' Caught My Eye,' Is Upbeat on Outlook. Federal Reserve governor Lael Brainard said the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. Stocks Drop After Monday's Rally.
Cable One, Inc. (CABO) today announced the pricing of a private offering of $500.0 million aggregate principal amount of its 0.00% convertible senior notes due 2026 and $300.0 million aggregate principal amount of its 1.125% convertible senior notes due 2028.
Australia's economy expanded at a much faster-than-expected pace in the final quarter of last year and all signs are that 2021 has started on a firm footing too helped by massive monetary and fiscal stimulus.
BEIJING--A private gauge of China's services-sector activity fell in February, with the rate of growth in business activity dropping to a 10- month low, as a recent resurgence of Covid-19 cases globally dampened overseas demand. The Caixin China services purchasing managers index fell to 51.5 in February from 52 in January, Caixin Media Co. and research firm Markit said Wednesday. But the index still stood above the 50- mark separating expansion from contraction for the 10th...
Shares from Asia to Europe gained on Wednesday, as a retreat in U.S. Treasury yields fuelled demand for riskier assets from oil to bitcoin and kept the dollar pinned down. The Euro STOXX 600 added 0.5%, with Frankfurt shares climbing 1% to a record high and London's FTSE gaining 1.1% before the UK's new budget is introduced, with measures to boost the economy.
Fed's Brainard Says Bond Yield Surge' Caught My Eye,' Is Upbeat on Outlook. Federal Reserve governor Lael Brainard said the recent tumult in the bond market is on her radar screen, as she cautioned market participants that the U.S. central bank remains far from a place where it can start dialing back its support of the economy. Stocks Drop After Monday's Rally.
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E. The safe-haven U.S. dollar remained broadly weaker on Wednesday as Treasury yields continued to retreat, restoring some calm to global markets and reigniting demand for riskier assets. Commodity-linked currencies including the Australian dollar and the Norwegian krone held on to sizeable two-day advances.
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.
Publication Date