NMI Holdings, Inc. (NMIH), the parent company of?National Mortgage Insurance Corporation?, today provided guidance on its capital position under the revised Private Mortgage Insurer Eligibility Requirements released by?Fannie Mae?and?Freddie Mac?, and the?Federal Housing Finance Administration? on?August 21, 2024.
Enact Holdings, Inc. (ACT), a leading provider of private mortgage insurance through its insurance subsidiaries, today addressed the updated Private Mortgage Insurer Eligibility Requirements released by Fannie Mae and Freddie Mac, and the Federal Housing Finance Administration on August 21, 2024 which will be phased-in between March 31, 2025 and September 30, 2026.
Essent Group Ltd. (ESNT) reported today that Fannie Mae and Freddie Mac, under the oversight of the Federal Housing Finance Authority, issued updates to the Private Mortgage Insurer Eligibility Requirements calculation of Available Assets and planned sunset of the use of the 0.3x Required Asset multiplier for loans in a COVID forbearance plan.
* Global, US stocks tick up. * Weak dollar lifts euro above $1.11 for first time this year. * US jobs revised down, all eyes on Fed's Powell on Friday. * Oil down, gold holds near record high. By Lawrence Delevingne and Huw Jones.
* U.S. jobs data revisions show 818,000 reduction. * Fed minutes show members leaning toward September rate cut. * U.S. rate futures price in 106 bps in cuts this year. * U.S. 20-year bond sale comes in better-than-expected. By Gertrude Chavez-Dreyfuss.
The dollar fell to a more than one-year low against the euro and sterling on Wednesday after data showed employers added 818,000 fewer jobs in the year to March than previously thought.
The minutes from the July Federal Open Market Committee meeting indicate that policymakers are leaning toward making the first interest rate cut in over four years at the upcoming September meeting, driven by ongoing progress in curbing inflation.
Editor?s note: This story has been updated to correct a reference to January 2025 in comments from Comerica Bank?s chief economist. The Federal Reserve has every reason to cut interest rates at its next meeting in September since the U.S. revised its jobs report, according to economists.
Federal Reserve officials last month were strongly leaning toward an interest rate cut at their September policy meeting and several of them would have even been willing to reduce borrowing costs immediately, according to the minutes of the July 30-31 gathering.
Warnings by China's central bank about excess exposure to long-dated sovereign bonds are aimed at curbing potential systemic risks if yields continue to fall, a senior official at a financial market association said.
The Federal Reserve has every reason to cut interest rates at its next meeting in September since the U.S. revised its jobs report, according to economists. ?A weaker-than-expected job market could pave the way for the Fed to cut by a half percentage point in September,? said Jeffrey Roach, chief economist for LPL Financial.
* Fed's July meet minutes to be released at 2:00 p.m. ET. * Target (TGT) jumps after lifting FY profit forecast. * JD.com (JD) slides after Walmart (WMT) sells $3.74 bln stake. * Indexes: Dow down 0.07%, S&P 500 up 0.12%, Nasdaq up 0.13% By Shashwat Chauhan and Johann M Cherian.
U.S. employers added far fewer jobs than originally reported in the year through March, the Labor Department said on Wednesday, underscoring the growing concerns the Federal Reserve has about the health of the labor market as it gears up to start cutting interest rates in September.
U.S. Treasury yields drifted lower on Wednesday as the interest rate outlook continued to point to the Federal Reserve's easing cycle likely starting next month, with investors looking to Fed Chair Jerome Powell's remarks later this week for clues about the size of the potential rate cuts this year and next. The data overall solidified expectations of a rate move in September.
The dollar was mixed on Wednesday after data showed employers added 818,000 fewer jobs in the year to March 2024 than previously thought, though the odds of the Federal Reserve making a larger rate cut in September were little changed. The data was released later than its scheduled 1000 EDT time, leading to market confusion and some choppy trading.
* Fed's July meet minutes to be released at 2:00 p.m. ET. * Target (TGT) jumps after lifting FY profit forecast. * JD.com (JD) slides after Walmart (WMT) sells $3.74 bln stake. * Ford up on reshuffling EV plans. * Indexes up: Dow 0.24%, S&P 500 0.51%, Nasdaq 0.68% By Shashwat Chauhan and Johann M Cherian.
The Federal Reserve appears to be very much on track for an interest rate cut in September after a "vast majority" of officials said such an action was likely, according to the minutes of the U.S. central bank's July 30-31 meeting. The minutes, which were released on Wednesday, even showed some policymakers would have been willing to reduce borrowing costs at last month's gathering.
-U.S. employers added far fewer jobs than originally reported in the year through March, the Labor Department said on Wednesday, underscoring the growing concerns the Federal Reserve has about the health of the labor market as it gears up to start cutting interest rates in September.
* TSX up 0.1% * Tech and energy shares lead sectoral gains. * Riot Platforms disclosed 19.9% stake in Bitfarms (BITF). By Nikhil Sharma. Canada's main stock index rose on Wednesday as tech and energy shares led broad gains, while investors awaited minutes from the U.S. Federal Reserve's July policy meeting.
U.S. employers added far fewer jobs than originally reported in the year through March, the Labor Department said on Wednesday, underscoring the growing concerns the Federal Reserve has about the health of the labor market as it gears up to start cutting interest rates in September.
The National Association of Bond Lawyers will give out two separate awards to Rep. Dutch Ruppersberger and longtime muni lawyer David Cholst, for their contributions to the organization and industry over the last four decades.
* Gold hit a record high of $2,531.60 on Tuesday. * Dollar falls to more than seven month low. * U.S. 10-year yields slip to more than 2-week low. * Palladium scales more than one-month peak. By Anushree Ashish Mukherjee and Brijesh Patel.
ATS Corporation (ATS) confirmed today that it has successfully closed its previously announced private placement offering of C$400 million aggregate principal amount of 6.50% senior unsecured notes due August 21, 2032.
* Fed's July meet minutes to be released at 2:00 p.m. ET. * Payrolls revisions due at 10:00 a.m. ET. * Target (TGT) jumps after lifting FY profit forecast. * JD.com (JD) slides after Walmart (WMT) sells $3.74 bln stake. * Futures up: Dow 0.2%, S&P 500 0.24%, Nasdaq 0.25% By Shashwat Chauhan and Johann M Cherian.
Despite Recent Decline in Mortgage Rates, Existing Home Sales Likely to Remain Weak WASHINGTON, Aug. 21, 2024 Despite the recent pullback in mortgage rates, total home sales are expected to come in lower than previously forecast through the rest of 2024, and then not pick up meaningfully until further out in 2025, according to the?August 2024 commentary from the Fannie Mae?Economic and Strategi...
Global stocks will brush aside recent market turmoil and gain modestly from current levels in coming months, according to a Reuters poll of equity strategists, amid rising expectations major central banks are set for a series of interest rate cuts.
* Weak dollar lifts euro above $1.11 for first time this year. * JD.com (JD) shares down as Walmart seeks to sell stake. * Oil steadier, gold holds near record high. * All eyes on Fed's Powell on Friday. By Huw Jones.
Midwest bond sales ticked 1.8% higher by volume in the first half of 2024, to $34.377 billion as the region missed out on the big gains in volume nationwide.
* Fed's July meet minutes to be released at 2:00 p.m. ET. * Payrolls revisions due at 10:00 a.m. ET. * Target (TGT) jumps after lifting FY profit forecast. * JD.com (JD) slides after Walmart (WMT) sells $3.74 bln stake. * Futures up: Dow 0.17%, S&P 500 0.17%, Nasdaq 0.16% By Shashwat Chauhan and Johann M Cherian.
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.