* Fed's September meeting minutes due at 1800 GMT. * Gold could get a nice bump if U.S. CPI comes in soft - analyst. By Daksh Grover and Ashitha Shivaprasad. Gold prices were subdued on Wednesday as investors strapped in for minutes from the Federal Reserve's latest policy meeting for insights into the U.S. central bank's interest rate trajectory.
Global stocks advanced on Wednesday along with U.S. Treasury yields, as minutes from the Federal Reserve's September meeting indicated more rate cuts, while investors awaited inflation data for further clues on the central bank's interest rate path.
* Fast Retailing's (FRCOF) profit likely rose 24% to 478.3 billion yen. * Key factors: Japan's fall/winter sales, China business recovery. * Shares up 43% in 2024, outperforming Nikkei's 16% rise. By Rocky Swift.
New Zealand's central bank slashed rates by 50 basis points on Wednesday and said policy is still restrictive even though inflation has returned to target, prompting markets to bet on yet more aggressive easing and sending the kiwi dollar skidding.
* RBNZ's outsized cut prompts bets for another 50 bp cut in Nov. * RBNZ says inflation is within 1%-3% target, sees subdued economy. * New Zealand dollar slips, swaps fall on dovish policy stance. By Lucy Craymer.
The U.S. dollar edged higher on Wednesday, taking in stride the release of minutes from the Federal Reserve's September meeting that showed a substantial majority of policymakers backed its outsized 50-basis point rate cut. Traders also digested comments from Fed officials and kept their powder dry for Thursday's release of September's consumer price index.
The dollar drifted sideways on Wednesday, giving some relief to the yen and other major currencies after a sharp rally to a seven-week high last week, as investors paused to assess the interest rate path outlook for the United States. The New Zealand dollar slumped to its lowest since Aug. 19 at $0.6096, after the Reserve Bank of New Zealand cut interest rates by 50 basis points.
The New Zealand dollar fell on Wednesday after the country's central bank cut its cash rate by 50 basis points to 4.75% and said it assesses that annual consumer price inflation is within its 1% to 3% inflation target range. The kiwi was last down 0.54% at $0.6103 after the policy decision that was in line with market pricing and most economists' expectations.
New Zealand's central bank slashed the cash rate by 50 basis points to 4.75% on Wednesday and said it assesses that annual consumer price inflation is within its 1% to 3% inflation target range.
- The Federal Reserve's 50-basis-point interest-rate cut last month was "timely" and was neither reactive, nor proactive, Fed Vice Chair Philip Jefferson said on Tuesday. "It was timely and consistent" with the Fed's two mandates of attaining 2% inflation and maximum employment, Jefferson said at Davidson College in North Carolina.
Gold prices held steady on Wednesday as traders awaited cues on U.S. interest rate policy from the minutes of the Federal Reserve's latest meeting. FUNDAMENTALS. * Spot gold held its ground at $2,622.24 per ounce by 0020 GMT, after falling more than 1% in the previous session. * Minutes from the Fed's September policy meeting are due at 1800 GMT.
- Federal Reserve Vice Chair Philip Jefferson on Tuesday said the U.S. central bank's half-percentage-point interest-rate cut last month was aimed at keeping the labor market strong even as inflation continues to ease.
A look at the day ahead in Asian markets. Wall Street got back on track Tuesday, encouraged that the Fed seems confident enough in the U.S. growth picture to ease up on the easing, but investors have been reticent ahead of the release of minutes from the September FOMC where officials took the most dovish possible policy turn to ensure the US jobs machine keeps humming.
A look at the day ahead in Asian markets. Wall Street got back on track Tuesday, encouraged that the Fed seems confident enough in the U.S. growth picture to ease up on the easing, but investors have been reticent ahead of the release of minutes from the September FOMC where officials took the most dovish possible policy turn to ensure the US jobs machine keeps humming.
Boeing is examining options to raise billions of dollars through a sale of stock and equity-like securities, two sources familiar with the matter said, as the planemaker tries to avoid slipping in to junk territory on its credit ratings.
* Boeing (BA) considers issuing stock and equity-like securities to raise cash. * Investment banks have been building shadow books, fielding investor inquiries. * Analysts estimate Boeing (BA) needs $10-$15 billion to maintain credit ratings. By Shankar Ramakrishnan, Allison Lampert, Echo Wang, Mike Stone.
Federal Reserve Bank of Boston President Susan Collins said Tuesday she's not seeing any major signs of financial sector troubles in the economy right now. Broadely speaking, "the financial system is in a relative good place" right now, Collins told a conference at her bank.
* China's stimulus details disappoint, impacting global stocks. * U.S. inflation data and corporate earnings in focus. * U.S. Treasury yields rise on recalibrated Fed expectations. By Chuck Mikolajczak.
* U.S. 10-year yields hit new 10-week high. * U.S. two-year yields pull back from seven-week peaks. * U.S. yield curve steepens. * U.S. three-year note auction shows lackluster results. By Gertrude Chavez-Dreyfuss.
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 ...
Eaton Vance California Municipal Bond Fund (EVM) and Eaton Vance New York Municipal Bond Fund (ENX) announced the results of each Fund?s Annual Meeting of Shareholders, which was convened on September 9, 2024 and adjourned to September 30, 2024, for the election of three members of the Fund?s board of trustees to serve three-year terms ending in 2027.
Supply is slightly lower this week at nearly $10 billion but not by much, with the pace of supply suggesting $500 billion of issuance for the year could still happen, said Tripp Kaiser, a managing director at Municipal Market Analytics, Inc.
Global ratings agency S&P said on Tuesday it had placed Boeing's (BA) rating on CreditWatch negative as about 33,000 of its workers remain on strike, halting production of its best-selling jets.
Uruguay's central bank on Friday held its benchmark interest rate at 8.50%, the monetary authority said on Tuesday, saying inflation remained in line with forecasts and the economy is expected to grow in coming quarters.
Federal Reserve Bank of Boston President Susan Collins said on Tuesday that with inflation trends growing weaker it is very probable that the U.S. central bank can deliver more interest rate cuts. "Further adjustments of policy will likely be needed," Collins said in the text of a speech to be delivered before a conference at her bank.
Argentina's industrial output dropped 6.9% in August from a year earlier in non-seasonally adjusted terms, while growing 1.5% from July in seasonally adjusted terms, the INDEC statistics agency said on Tuesday.
* China's stimulus details disappoint, impacting global stocks. * U.S. inflation data and corporate earnings in focus. * U.S. Treasury yields rise on recalibrated Fed expectations. By Chuck Mikolajczak. NEW YORK, Oct 8 - A gauge of global stocks was flat on Tuesday after details over China's stimulus disappointed as investor focus shifts to upcoming U.S. inflation data and corporate earnings.
Wells Fargo Head of Municipal Markets Strategy Vikram Rai said on Monday that Illinois' bonds are underappreciated as he released a report on the state.
KBRA assigns an A+ rating, with a Stable Outlook to General Airport Senior Lien Revenue Refunding Bonds, Series 2024C and Series 2024D; and General Airport Senior Lien PFC Revenue Refunding Bonds, Series 2024E and Series 2024F to be issued by the City of Chicago on behalf of Chicago O'Hare International Airport.
The district plans to price about $100 million of bonds Thursday, the first since Gov. Ron DeSantis took over control of it by appointing its board of supervisors.
Last week's jobs numbers confirm the U.S. labor market remains strong even though it may be slowing, with a 4.1% unemployment rate around what is considered full employment and employers adding jobs faster than what is needed to account for population growth, Atlanta Federal Reserve President Raphael Bostic said on Tuesday.
The Brazilian Senate's Economic Affairs Committee on Tuesday approved Gabriel Galipolo to head the central bank starting January, replacing current governor Roberto Campos Neto, whose term expires this year. Appointed by leftist President Luiz Inacio Lula da Silva for the position, Galipolo currently serves as the bank's monetary policy director.
JPMorgan Chase (JPM) and Wells Fargo (WFC) kick off?earnings for the sector on Friday, and investors are expected to focus on the big banks' forecasts for net interest income after strong jobs data fueled uncertainty about the path of future Federal Reserve rate cuts. Both banks are expected to report lower profits for the third quarter after interest income may shrink while loan demand remained subdued.
Colombia's state-run oil company oil Ecopetrol said on Tuesday it was launching on offer to buy back a bond worth $1.25 billion maturing in 2026, funded though the simultaneous issue of new bonds.
The September Consumer Price Index report, set to be released on Thursday, Oct. 10 at 8:30 a.m. ET, will play a pivotal role in shaping the Federal Reserve's next move ahead of its Nov. 7 meeting. Economists anticipate further cooling inflation, largely driven by falling energy prices.
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 200 points on Tuesday. The Dow traded up 0.17% to 42,026.90 while the NASDAQ rose 1.15% to 18,130.79. The S&P 500 also rose, gaining, 0.75% to 5,738.42. Check This Out: Top 2 Energy Stocks You May Want To Dump In Q4 Leading and Lagging SectorsInformation technology shares jumped by 1.4% on Tuesday.
NEW YORK CITY, N.Y., Oct. 8, 2024 Earnest Analytics, the leading data analytics firm for investors, companies, and consulting firms, has released a new Earnest Analytics Spend Index, powered by the Vela Gamma transaction dataset.
* China's stimulus details disappoint, impacting global stocks. * U.S. inflation data and corporate earnings in focus. * U.S. Treasury yields rise on recalibrated Fed expectations. By Chuck Mikolajczak. NEW YORK, Oct 8 - A gauge of global stocks slipped on Tuesday after details over China's stimulus disappointed as investor focus shifts to upcoming U.S. inflation data and corporate earnings.
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.
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