Brazilian President Luiz Inacio Lula da Silva's nominee to lead the central bank, Gabriel Galipolo, said on Tuesday that the leftist leader was emphatic and clear in guaranteeing him freedom in decision-making.
Greystone, a leading national commercial real estate finance company, announced it has provided a Freddie Mac loan to refinance a 357-unit multifamily property located in Schaumburg, IL. The financing was originated by Eric Rosenstock and Dan Sacks, both Senior Managing Directors at Greystone, on behalf of Bayshore Properties.
* Trade deficit shrinks 10.8% to $70.4 billion in August. * Exports increase 2.0% to record high; imports fall 0.9% By Lucia Mutikani. The U.S. trade deficit narrowed sharply in August as exports increased to a record high, suggesting trade could have little or no impact on economic growth in the third quarter.
Federal National Mortgage Association (FNMA) : * FANNIE MAE ANNOUNCES SALE OF REPERFORMING LOANS. * SALE INCLUDES 8,721 LOANS WITH $1.429 BILLION UNPAID PRINCIPAL BALANCE. * BIDS FOR REPERFORMING LOANS SALE DUE OCTOBER 29, 2024. * BUYER MUST OFFER LOSS MITIGATION OPTIONS FOR FIVE YEARS.
WASHINGTON, Oct. 8, 2024 Fannie Mae?today began marketing its most recent sale of reperforming loans as part of the company's ongoing effort to reduce the size of its retained mortgage portfolio. The sale consists of approximately 8,721 loans, having an unpaid principal balance of approximately $1.429 billion, and is available for purchase by qualified bidders.
Brazilian President Luiz Inacio Lula da Silva's nominee to lead the central bank starting next year, Gabriel Galipolo, said on Tuesday that the leftist leader was emphatic and clear in guaranteeing him freedom in decision-making.
Canada recorded a bigger-than-expected trade deficit of C$1.1 billion in August, its sixth consecutive monthly shortfall, as imports rose while exports declined, Statistics Canada data showed on Tuesday. Analysts polled by Reuters had forecast a C$500 million deficit in the month. Total exports fell 1% in the month, mainly on lower crude oil prices, and pulp and paper exports.
Holistic Emissions Data Now Available for Municipal Bonds, Mortgage-backed Securities and Real Estate, as well as Corporate and Sovereign Bonds Intercontinental Exchange, Inc. (ICE), a leading global provider of technology and data, today announced the launch of a multi-asset class climate transition risk solution, which provides emissions estimates and portfolio analytics across various fixed income...
Aluminium prices fell close to two-week lows as energy prices fell on the back of plunging oil benchmarks while industrial metals overall came under pressure from worries about demand in top consumer China. Aluminium, production of which requires more power than other industrial metals, is under more pressure than the rest of the complex, one trader said.
The U.S. trade deficit narrowed sharply in August as exports increased to a record high, suggesting trade could have little or no impact on economic growth in the third quarter. The smaller-than-expected trade gap reported by the Commerce Department on Tuesday added to data on the labor market and consumer spending in suggesting that the economy remained on solid footing last quarter.
The U.S. trade deficit narrowed sharply in August as exports increased and imports fell, suggesting that trade could be a small drag on economic growth in the third quarter. The trade gap contracted 10.8% to $70.4 billion from a revised $78.9 billion in July, the Commerce Department's Bureau of Economic Analysis said on Tuesday.
The University of Arizona, which was hit with negative rating outlooks earlier this year, scheduled a debt refunding led by Morgan Stanley (MS) for Wednesday.
The European Central Bank will cut its deposit rate by 25 basis points on Oct. 17 and again in December, according to more than 90% of economists polled by Reuters who now see a quicker decline in euro zone inflation. Only 12% of economists polled last month had predicted an October cut.
Consumer prices in Chile rose less than expected in September, a month in which inflation usually tends to be higher due to national holidays, paving the way for the central bank to keep reducing borrowing costs.
Schneider Electric, the leader in the digital transformation of energy management and automation, today announced the World Economic Forum has recognized two of its factories as new Lighthouses.
In a recent statement, Federal Reserve Governor Adriana Kugler expressed her support for additional interest rate cuts, contingent on continued decreases in inflation. What Happened: Kugler emphasized the importance of balancing inflation control with employment growth, aligning with the Federal Open Market Committee?s dual mandate of price stability and maximum employment.
- The U.S. Federal Reserve is encouraging banks to count on its long-shunned cash backstops in a bid to support its monetary policy and financial stability goals. The Fed's discount window and the Standing Repo Facility are credit backstops where lenders can get cash against collateral such as Treasury bonds.
The British pound drifted near more than three-week lows against the dollar on Tuesday as investors assessed geopolitical risks in the Middle East and the next steps in the Bank of England's easing cycle. Sterling tumbled last week after BoE Governor Andrew Bailey was quoted as saying the central bank might move more aggressively to lower borrowing costs.
Euro zone government bond yields were mixed on Tuesday after four days of gains on the back of a sell-off in U.S. Treasuries driven by strong U.S. data. Bond yields move inversely with prices.
John Williams, President of the New York Federal Reserve, expressed confidence in the Federal Reserve?s strategy to achieve a soft landing for the U.S. economy. What Happened: Williams highlighted the importance of the ?very good? jobs report for September, which underscored the economy?s resilience.
Japanese investors snapped up U.S. Treasuries in August and continued to sell French government debt against a backdrop of political uncertainty, data from Japan's ministry of finance showed on Tuesday. The August Treasuries purchases were a record amount, Commerzbank analysts said.
* Yen stronger on safe-haven flows. * Focus on U.S. inflation, Fed minutes. * China stock rally fizzles, yuan eases. By Ankur Banerjee and Medha Singh. The dollar eased from near seven-week highs against major currencies on Tuesday after investors assessed the outlook for U.S. rate cuts, even as geopolitical tensions in the Middle East continue to support the currency's safe-haven appeal.
* Fed's September meeting minutes due on Wednesday. * Hezbollah fired rockets at Israeli city Haifa. * Palladium down nearly 3% By Daksh Grover. Gold prices edged lower on Tuesday, pressured by a stronger dollar, while investors awaited minutes of the Federal Reserve's latest policy meeting and more economic data for insights on the U.S. interest rate outlook.
The U.S. jobs market has started to cool but remains resilient and the Federal Reserve is keen to avoid a drastic weakening of the labor market, Fed Governor Adriana Kugler said in Frankfurt on Tuesday. "The lower unemployment that we saw in Friday's jobs report is very welcome," Kugler told a European Central Bank Conference.
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, but the index remained in the ?Greed? zone on Monday. U.S. stocks settled lower on Monday, with the Dow Jones index dipping around 400 points during the session amid higher Treasury yields.
-Federal Reserve Governor Adriana Kugler said on Tuesday she strongly supported the U.S. central bank's recent interest rate cut and will support further reductions if inflation continues to ease as she expects.
Euro zone government bond yields fell on Tuesday after rising for four straight sessions on the back of a selloff in U.S. Treasuries driven by strong U.S. data. Bond yields move inversely to prices.
German industrial production rose by a larger than expected 2.9% in August from the previous month thanks to an increase in automotive industry output, the federal statistics office said on Tuesday. Analysts polled by Reuters had predicted a 0.8% rise.
German industrial production rose by 2.9% in August compared to the previous month, the federal statistics office said on Tuesday. Analysts polled by Reuters had predicted a 0.8% rise. The office offers more detailed data on its website.
LONDON, Oct. 8, 2024 ION, a global leader in trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporate organizations, announces that Instantia has selected ION Foreign Exchange for trade execution, trade management, risk, and settlement management for its FX business.
* Yen slightly stronger on safe-haven flows. * Focus on US inflation, Fed minutes. * China stock rally fizzles, yuan eases. By Ankur Banerjee. The dollar clung to seven-week highs against major currencies on Tuesday as investors pondered the outlook for U.S. rates after a strong jobs report last week dashed bets for large rate cuts, while escalating tensions in Middle East dented risk sentiment.
-Federal Reserve Bank of New York President John Williams said that it will be appropriate again for the central bank to reduce rates 'over time,' after September's big half percentage point rate cut, in an interview published by the Financial Times on Tuesday.
Bundesbank President Joachim Nagel is open to considering another European Central Bank interest rate cut at its meeting next week, he told Table Media, adding German economic growth in the second half would be weaker than expected.
* China on track to hit 2024 GDP target despite pressures: NDRC. * Government will front-load 2025 fiscal spending to spur growth. * Stock rally fizzles on lack of specific plans to bolster economy. By Kevin Yao, Joe Cash and Ellen Zhang.
Japan's inflation-adjusted wages fell in August while household spending also declined, but analysts say underlying trends point to a gradual recovery in pay and consumption and should support the central bank's plans for additional rate hikes.
The dollar held firm on Tuesday, treading water just under last week's seven-week highs as investors assessed the outlook for further U.S. rate cuts, with concerns about the conflict in the Middle East and China's struggling economy lending support. The U.S. data calendar is relatively light this week.
The dollar clung to seven-week highs against major currencies on Tuesday as investors ponder the outlook for U.S. rates after a strong jobs report last week dashed bets for large rate cuts, while escalating tensions in Middle East dented risk sentiment. Traders have drastically shifted their monetary easing expectations from the Federal Reserve this year.
Gold prices were flat in early Asian hours on Tuesday as market participants awaited minutes of the U.S. Federal Reserve's last meeting and more economic data for further clarity on policy easing this year. FUNDAMENTALS. * Spot gold was little changed at $2,643.68 per ounce, as of 0013 GMT.
Federal Reserve Bank of St. Louis President Alberto Musalem said on Monday he supports more interest rate cuts as the economy moves forward on a healthy path, while noting that it is appropriate for the central bank to be cautious and not overdo easing monetary policy.
Japan's inflation-adjusted wages fell in August after two months of increase during the summer bonus season, government data showed on Tuesday, knocking chances of the central bank raising interest rates any time soon. Real wages in the world's fourth-largest economy fell 0.6% in August from the same month a year earlier, according to the Ministry of Health, Labour and Welfare.
Federal Reserve Bank of St. Louis President Alberto Musalem said Monday there's no conflict with the central bank cutting rates and continuing to draw down its balance sheet. The official also said he sees no economic or technical market reason for why the Fed would need to end reducing its holdings in a process known as quantitative tightening.
British finance minister Rachel Reeves needs to strike a positive tone at her first budget on Oct. 30 in order to give businesses the confidence to invest, the Confederation of British Industry said on Tuesday.
Federal Reserve Bank of St. Louis President Alberto Musalem said on Monday that strong hiring data released last week hasn't upended his outlook for monetary policy interest rate cuts. The September jobs data was "strong" and showed no signs of a job market emergency emerging, Musalem said in response to questions following a speech in New York.
- A look at the day ahead in Asian markets. A short-lived conviction that the Fed would stick to a dovish path evaporated after Friday's bet-busting payrolls number, with Treasury yields on Monday backing up above 4% and traders introducing a small chance that November might not yield a rate cut at all.
A look at the day ahead in Asian markets. A short-lived conviction that the Fed would stick to a dovish path evaporated after Friday's bet-busting payrolls number, with Treasury yields on Monday backing up above 4% and traders introducing a small chance that November might not yield a rate cut at all.
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.
Log In Required
Line of Credit Log In Required
Publication Date