Traders are anxiously awaiting the Federal Reserve?s annual Jackson Hole Symposium. This highly anticipated event could set the tone for the Fed?s future policy actions, especially as investors anticipate a rate cut at the upcoming September meeting.
Trimont, the leading global commercial real estate loan services provider, has entered into a definitive agreement to purchase Wells Fargo?s non-agency third-party Commercial Mortgage Servicing business, the largest servicer of CRE securitized debt in the U.S. The transaction, backed by V?rde Partners, positions Trimont as the largest loan servicer, managing a combined $640 billion of loans in ...
At $1.8 billion, the tax-exempt and taxable deal is the largest on the calendar this week and it's the latest offering from the city since a $1.2 billion refunding issuance in July.?
In a move that signals a significant shift in the global financial landscape, the Nigeria Inter-Bank Settlement System, a payments clearing house primarily owned by the Central Bank of Nigeria, has joined Africa?s first regulated blockchain network for payments, built by Nigeria?s decentralised payment infrastructure company Zone.
Roper Technologies, Inc. (ROP) announced today the pricing of its public offering of $500 million of 4.500% Senior Notes due 2029, $500 million of 4.750% Senior Notes due 2032, and $1 billion of 4.900% Senior Notes due 2034.
As investors contemplate rate policy for the remainder of 2024, "there have been a few strategies from which to choose to boost yield ? short positioning, curve extension and credit quality," noted Kim Olsan, senior fixed-income portfolio manager at NewSquare Capital.
Loop Capital's Jim Reynolds was among the nine private and public entities that signed a pledge to help bring in more historically underutilized businesses on construction projects.
Super Micro Computer Inc (SMCI) shares are trading lower by 2.6% to $612.66 during Monday?s session, pulling back after gaining some 16% last week. The PPI report revealed last week also showed a smaller-than-expected increase in producer prices. This cooling in inflation suggests that the Federal Reserve might be inclined to cut interest rates more aggressively.
The measure would have requested $20 billion of bond authority from voters in nine San Francisco-area counties; backers said they would try in a later year.
Part of the surge in issuance came from issuers tapping the capital market after several years due to the inability to no longer postpone long-delayed projects and the drying up of pandemic aid.
VRDOs may be a "short-term solution" for issuers to refinance when the Fed starts cutting rates, said James Pruskowski, chief investment officer at 16Rock Asset Management.
Municipal bond insurers wrapped $18.592 billion in the first half of 2024, a 19.5% increase from the $15.561 billion insured in the first half of 2023, according to LSEG data.
Mastercard Incorporated? shares are trading lower premarket today. The reduction is expected to impact around 1,000 employees, based on Mastercard?s reported headcount of around 33,400 as of 2023. Mastercard (MA) projects most job reductions to be completed by September 30, reported Bloomberg.
The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the ?Fear? zone on Friday. U.S. stocks settled higher on Friday, with the S&P 500 recording its best week since Nov. 2023. On the economic data front, housing starts in the U.S. declined by 6.8% from the prior month to an annualized rate of 1.238 million in July.
Mary Daly, the President of the San Francisco Federal Reserve, expressed her support for a cautious approach to interest rate cuts, in a recent interview. What Happened: Daly, a voting member of the Federal Open Market Committee, has suggested that the U.S. economy is not yet in a position to warrant rapid interest rate cuts.
Barclays (JJCTF) rate strategists believe the 10-year part of the Treasury curve has room to cheapen. "In that case, tax-exempts will likely not only follow, but underperform."
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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