KBRA is pleased to announce the assignment of preliminary ratings to four classes of FREMF Series 2024-K757 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates, Series K-757. The underlying transaction is collateralized by 27 fixed-rate multifamily mortgage loans.
Traders on Monday kept bets the Federal Reserve is more likely to deliver a quarter-point interest rate cut in November rather than repeat the half-point cut it delivered earlier this month, as Fed Chair Jerome Powell said rates will "over time" reach a neutral level.
Federal Reserve Chair Jerome Powell indicated on Monday the U.S. central bank would likely stick with quarter-percentage-point interest rate cuts moving forward and was not "in a hurry" after new data boosted confidence in ongoing economic growth and consumer spending.
* Powell says economy poised for ongoing inflation slowdown. * Fed chief says risks to policy outlook are two-sided. * Decisions to be made on meeting-by-meeting basis, he says. By Howard Schneider.
Freddie Mac today is reminding homeowners and mortgage servicers of its immediate relief options for those impacted by Hurricane Helene. ?For those impacted by Hurricane Helene throughout the Southeast, Freddie Mac and our partners stand ready to provide immediate assistance,? said Mike Reynolds, Freddie Mac Single-Family Vice President and Head of Servicing.
Chicago Federal Reserve President Austan Goolsbee reiterated on Monday that he sees a case for extensive U.S. central bank interest rate cuts given the current state of the economy and where it is likely to go. When it comes to monetary policy, "this is a process over a year or more that we're trying to get the rates down to normal," Goolsbee said in an interview with Fox Business.
The New York Federal Reserve said eligible firms on Monday parked the largest amount of cash in its reverse repo facility since late June, in a move almost certainly tied to the end of the third quarter.
Federal Reserve Bank of Chicago President Austan Goolsbee reiterated Monday in a television interview he sees a case for extensive central bank rate cuts given where the economy is and is likely to go. When it comes to monetary policy, "this is a process over a year or more that we're trying to get the rates down to normal," Goolsbee said in a Fox Business news interview.
* CVS gains after report Glenview to meet with executives. * Ford, GM slide after peer Stellantis (STLA) trims annual forecast. * Indexes: Dow down 0.35%, S&P 500 off 0.05%, Nasdaq up 0.05% By Johann M Cherian and Purvi Agarwal.
Atlanta Federal Reserve President Raphael Bostic said on Monday he would be open to another half-percentage-point interest rate cut at the U.S. central bank's meeting in November if upcoming data show job growth slowing faster than expected. "A surprise to the weak side .... would pull me much further into really needing another dramatic move," Bostic said in an interview with Reuters.
Baidu Inc (BIDU) shares are trading higher by 15.0% to $106.29 over the trailing week, driven by investor enthusiasm over the latest economic stimulus measures implemented by the People's Bank of China and a surprisingly strong Purchasing Managers' Index report.
Investors tend to focus on monetary policy from the major central banks and Canada, Sweden, and Switzerland have each cut rates three times this year. Lower borrowing costs going forward should boost the price outlook for crypto, says Scott Garliss.
Canada's main stock index fell on Monday, hurt by mining stocks, as investors awaited the Federal Reserve Chair Jerome Powell's speech later in a day to get clues on U.S. policy outlook. The Toronto Stock Exchange's S&P/TSX composite index was down 0.26%, at 23,894.19, and was set to extend its fall from the previous session.
The dollar gained against the yen but dipped against the euro on Monday as investors waited on several key U.S. economic data releases this week for further clues on Federal Reserve policy, while China's stimulus helped to propel the Australian dollar to a more than 19-month high.
Euro zone government bond yields dipped on Monday after German inflation slowed and European Central Bank President Christine Lagarde acknowledged progress on prices, adding to investor confidence about an October rate cut. Data on Monday showed. inflation in Germany. slowed more than expected in September to 1.8% year-on-year, its slowest rate since February 2021, from 2% in August. in Italy.
Mergers between European banks are "desirable" if they help them compete with their U.S. and Chinese rivals, European Central Bank President Christine Lagarde said on Monday, as Italy's UniCredit pressed for a tie-up with Germany's Commerzbank.
NEW YORK, Sept. 30, 2024 Emigrant Bank is pleased to announce its 2024 distribution of small business grants to local businesses in the New York metropolitan area through the Federal Home Loan Bank of New York's Small Business Recovery Grant Program.
Private sector
economists in Brazil now project a more restrictive path for
interest rates, with two 50-basis-point hikes expected this year
and higher borrowing costs next year, a weekly central ...
Wall Street's main indexes opened lower on Monday as investors paused after a rally in the previous week and exercised caution ahead of numerous job reports and comments from Federal Reserve policymakers through the week, including Chair Jerome Powell.
Keith Lerner, the Co-Chief Investment Officer at Truist Wealth, has a word of advice for investors: ?Don?t fight the trend and don?t fight the Fed. #8221; What Happened: Lerner emphasized that the global markets are currently reaching 52-week highs due to the actions of central banks and the Chinese stimulus, CNBC reported on Monday.
The S&P 500 sputtered to a record high close on Monday, rebounding from a brief setback after Federal Reserve Chair Jerome Powell said the U.S. central bank is in no hurry to implement further interest rate cuts. The Dow also posted an all-time closing high.
NEW YORK, Sept. 30, 2024 Today, the Ministry of Industry and Mineral Resources, in collaboration with?UNIDO, organized a pre-launch event in New York to announce the upcoming MIPF, which will take place in Riyadh on October 23-24, 2024.
Chile's unemployment rate hit 8.9% in the quarter through August, government statistics agency INE said on Monday. The figure was above both the 8.7% registered in the previous rolling quarter and the 8.8% expected by economists polled by Reuters.
Brazil's public sector posted a larger-than-expected deficit in August, central bank data showed on Monday, driven by a mismatch between central government revenues and expenditures. The primary deficit, which excludes interest payments, reached 21.4 billion reais for the month, surpassing the 20.8 billion reais deficit forecast by economists polled by Reuters.
The MTA's biggest-ever capital plan focuses mostly on upkeep for the system. But it's more than $33 billion short of funding for the five-year program.
Brazil's public sector posted a primary deficit of 21.425 billion reais in August, central bank data showed on Monday, wider than the 20.8 billion reais deficit forecast by economists polled by Reuters. The government debt as a share of gross domestic product slightly increased to 78.5% in August from 78.4% the month before.
Private sector economists
in Brazil have increased their forecast for the country's
benchmark interest rate at the end of this year and next, a
central bank poll showed on Monday, as ...
Futures tied to Canada's main stock index rose slightly on Monday as investors remained on the sidelines ahead of Federal Reserve Chair Jerome Powell's comments. December futures on the S&P/TSX index were up 0.1% at 6:13 a.m. ET. The composite index ended lower on Friday but notched its third straight weekly gain on the recent 50-basis-point interest rate cut in the United States.
* Futures off: Dow 0.05%, S&P 500 0.05%, Nasdaq 0.13% U.S. stock index futures were flat to slightly lower on Monday as caution set in ahead of a week filled with numerous jobs reports and comments from policymakers including Federal Reserve Chair Jerome Powell.
* Greece trimmed its GDP growth for 2024 to 2.2% * It upwardly revised its 2024 primary surplus to 2.4% * It sees its public debt reduced to 149% of GDP in 2025. By Lefteris Papadimas.
Investors reduced holdings in U.S. equity funds for the fifth consecutive week through Sept. 25, driven by lingering concerns about the economy's health and caution ahead of the U.S. presidential election. According to LSEG data, investors divested a massive $22.43 billion worth of US equity funds during the week, which was their largest weekly net sales since December, 2022.
Euro zone government bond yields rose on Monday after economic data led investors to slightly scale back their bets on future European Central Bank monetary easing moves. Inflation eased across a raft of key German states in September, preliminary data showed on Monday. Germany will release national data later in the session, a day before euro zone figures.
Global money market funds experienced their highest weekly inflows in nearly six months, with investors cautious about the health of the U.S. economy and concerned that further rate cuts this year could signal deeper economic troubles.
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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