Led by the U.S. Federal Reserve, developed market central banks in September delivered their biggest interest rate cut push since the easing wave at the onset of the COVID-19 pandemic, while Brazil kicked off a fresh tightening cycle. Five of the nine central banks overseeing the 10 most heavily traded currencies that held meetings in September lowered benchmarks.
British services firms lost some momentum but continued to grow in September and the prices they charged rose at the slowest pace in almost four years, according to a survey likely to be welcomed by the Bank of England. The S&P Global UK Services Purchasing Managers Index published on Thursday dropped to 52.4 last month from 53.7 in August which was its fastest since April.
Euro zone business activity slipped back into contraction last month although the downturn was not as steep as initially thought, according to a survey that also showed inflationary pressures had eased.
Sterling fell sharply on Thursday after the Bank of England Governor Andrew Bailey said the central bank could become "a bit more activist" on rate cuts, while simmering tensions in the Middle East kept the dollar supported.
Most emerging market currencies are set to trade in tight ranges or pare some of the year-to-date gains in the next three months after the U.S. Federal Reserve curbed expectations for aggressive rate cuts, according to a Reuters poll.
Euro zone government bond yields were steady on Thursday, as markets weighed expectations for European Central Bank interest rate cuts and the escalating conflict in the Middle East. Germany's 10-year yield, the benchmark for the euro zone, was last little changed at 2.1%. It fell to its lowest level since Jan. 4 on Tuesday at 2.011%, before rebounding on Wednesday.
* Firm ADP report raises bets for strong US jobs data on Friday. * Sterling slumps as BoE chief suggests quicker rate cuts. * Euro sags as ECB hawk Schnabel takes dovish tone on inflation. * Yen under pressure as new Japan PM says too soon for rate hikes. * Traders focus on economy in absence of Middle East escalation. By Kevin Buckland.
The Bank of England could move more aggressively to cut interest rates if inflation pressures continue to weaken but conflict in the Middle East could push up oil prices, Governor Andrew Bailey said.
Asian shares retreated from a 32-month peak on Thursday as the sizzling rally in Hong Kong took a breather, while Japan's Nikkei jumped as the risk of further tightening in monetary policy this year faded.
The Bank of England could become "a bit more activist" on rate cuts if there is further good news on inflation, Governor Andrew Bailey said in an interview with the Guardian newspaper published on Thursday.
Traders gauging how to play further downside in the U.S. dollar are looking to the relative strength of economies around the world, as interest rate shifts from global central banks shake up currency markets. The U.S. dollar index fell 4.8% against a basket of currencies in the third quarter, its worst quarterly performance in nearly two years.
* Firm ADP report raises bets for strong US jobs data on Friday. * Yen under pressure as new Japan PM says too soon for rate hikes. * Euro sags as ECB hawk Schnabel takes dovish tone on inflation. * Traders focus on economy in absence of Middle East escalation. By Kevin Buckland.
Japan's Nikkei share average rebounded on Thursday, buoyed by a softer yen as Prime Minister Shigeru Ishiba's dovish comments reduced bets of further tightening in monetary policy.
Japanese stocks jumped and the yen fell on Thursday as the risk of further tightening in monetary policy this year faded, while the sizzling rally in Hong Kong's share market took a breather.
For a sense of the challenges Bank of Japan Governor Kazuo Ueda faces in weaning the world's fourth-largest economy off monetary stimulus, look no further than his birthplace. Makinohara, a breezy surf town that once thrived on a now-declining tea industry, exemplifies disparities between Japan's struggling rural areas and its bustling mega-cities.
* Makinohara, birthplace of BOJ chief Ueda, struggles with economic disparities, depopulation. * Some local businesses, officials voice unease about rising interest rates, wage increases. * Other residents see opportunities in policy normalisation and innovation. By Sakura Murakami.
The dollar rose to a six-week high on Thursday as data showed a still-solid U.S. economy before Friday's closely watched jobs report, while safe haven demand on concerns about rising Middle East tensions and the impact of a dockworker strike also boosted the currency.
* Firm ADP jobs report raises bets for strong US payrolls data on Friday. * Yen under pressure as new Japan PM says too soon for rate hikes. * Euro sags as ECB hawk Schnabel takes dovish tone on inflation. * Traders focus on economy in absence of Middle East escalation. By Kevin Buckland.
Japan's Nikkei share average rebounded sharply in early trade on Thursday, buoyed by a softer yen after Prime Minister Shigeru Ishiba said that the country was not ready for further interest rate hikes.
Japan's service sector activity expanded for the third straight month in September, but the pace slowed slightly and confidence dipped in a sign of the broader economic strains amid weakness in manufacturing, a private survey showed on Thursday.
Japan's service sector activity expanded for the third straight month in September, but the pace slowed slightly and confidence dipped in a sign of the broader economic strains amid weakness in manufacturing, a private survey showed on Thursday.
- A look at the day ahead in Asian markets. Japanese markets, particularly the foreign exchanges, continue to digest the rather blunt comments on monetary policy from new prime minister Shigeru Ishiba after he met with Bank of Japan governor Kazuo Ueda on Wednesday.
A look at the day ahead in Asian markets. Japanese markets, particularly the foreign exchanges, continue to digest the rather blunt comments on monetary policy from new prime minister Shigeru Ishiba after he met with Bank of Japan governor Kazuo Ueda on Wednesday.
Keysight Technologies Inc (KEYS): * KEYSIGHT TECHNOLOGIES ANNOUNCES PRICING OF PUBLIC OFFERING OF SENIOR UNSECURED NOTES. * Keysight Technologies Inc (KEYS) - PRICES $600 MILLION PUBLIC OFFERING OF SENIOR UNSECURED NOTES. * Keysight Technologies Inc (KEYS) - NOTES MATURE IN 2034 WITH 4.950% ANNUAL INTEREST RATE Source text for Eikon: Further company coverage:
The biggest theme within the muni market ? and what is responsible for its performance ? is the amount of cash on the sidelines, with $6-plus trillion in money market funds and close to $2.5 trillion in certificates of deposits, said Julio Bonilla, a fixed-income portfolio manager at Schroders.
Most Latin American currencies slipped
on Wednesday, as the dollar firmed after a better-than-expected
private payrolls data showed a stable labor market, adding to
hopes that the Federal Reserve ...
OKLAHOMA CITY, Oct. 2, 2024 Ascent Resources Utica Holdings, LLC announced today that it, along with its wholly-owned subsidiary, ARU Finance Corporation, has priced a private offering of $600 million in aggregate principal amount of 6.625% senior unsecured notes due 2032 at par.
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) today announced a distribution of $0.0300 per share of common stock, payable on November 1, 2024 to shareholders of record at the close of business on October 18, 2024. The Fund intends to make regular monthly distributions to its common shareholders at a level rate based on its projected performance.
Keysight Technologies, Inc. (KEYS) today announced the pricing of an underwritten, registered public offering of its senior unsecured fixed rate notes in an aggregate principal amount of $600,000,000. Keysight (KEYS) intends to use the net proceeds from the Offering for general corporate purposes, including to repay its outstanding $600 million of 4.55% senior notes due October 30, 2024.
* * Expectations for another 50 bps rate cut in November decrease. By Chuck Mikolajczak. Longer-dated U.S. Treasury yields rose on Wednesday after economic data pointed to a stable labor market while investors monitored escalating Middle East hostilities after Iran fired missiles against Israel.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Ol? Insurance Group Corp I.I.. The outlook of these Credit Ratings is stable.
The U.S. central bank's fight to return inflation to its 2% target may take longer than expected to complete and limit how far interest rates can be cut, Richmond Federal Reserve President Thomas Barkin said on Wednesday.
With Friday?s nonfarm payroll report on the horizon, the labor market is expected to show a modest increase of 140,000 jobs, slightly down from August's 142,000. Wednesday?s ADP National Employment Report for September signaled some resilience.
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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