* Google-parent Alphabet down on potential DOJ action. * Boeing (BA) falls after talks with union halted. * Fed minutes due at 2:00 p.m. ET. * Indexes: Dow up 0.35%, S&P 500 flat, Nasdaq down 0.25% By Lisa Pauline Mattackal and Pranav Kashyap.
Xavier University in Ohio is the latest private Midwest college to face bad financial news -- downgrades from two bond rating agencies -- but it's not alone.
* Dollar near a two-month high. * Bullion falls for the sixth straight session. * Odds of 25 bps US rate cut in November at 76% By Anushree Mukherjee. Gold retreated for the sixth straight day on Wednesday on an advancing dollar and diminished expectations for a larger rate cut from the Federal Reserve in November. Spot gold fell 0.5% to $2,607.93 per ounce by 02:39 p.m. ET.
- Dallas Federal Reserve Bank President Lorie Logan on Wednesday said she supported last month's outsized interest-rate cut but wants smaller reductions ahead, given "still real" upside risks to inflation and "meaningful uncertainties" over the economic outlook.
- Dallas Federal Reserve Bank President Lorie Logan on Wednesday said she supported last month's outsized interest-rate cut but wants smaller reductions ahead, given "still real" upside risks to inflation and "meaningful uncertainties" over the economic outlook.
The Bank of Israel kept interest rates unchanged on Wednesday for the sixth straight meeting, staying cautious as Israel's year-long war with Hamas in Gaza and fighting with Hezbollah in Lebanon accelerates inflation and weakens economic activity.
* Google-parent Alphabet down on potential DOJ action. * Boeing (BA) falls after talks with union halted. * Fed minutes due at 2:00 p.m. ET. * Futures down: Dow 0.01%, S&P 500 0.05%, Nasdaq 0.18% By Lisa Pauline Mattackal and Pranav Kashyap.
Federal Home Loan Bank of Atlanta is supporting recovery and relief efforts for those affected by Hurricane Helene, donating $250,000 to the American Red Cross and making up to $2 million available through its Community Rebuild and Restore Product to assist with the rehabilitation of homes damaged by the storm.
Consumer prices in Brazil accelerated in September from the previous month due to higher electricity and food costs amid a major drought, reinforcing expectations of further interest rate hikes by the country's central bank.
Mexico's 12-month headline inflation rate fell again in September, after easing in the previous month, raising expectations that the central bank will continue to cut its benchmark interest rate.
Easterly Asset Management, home to investment teams that provide private wealth and institutional investors with a portfolio of solutions across alternatives, active equity and active fixed income, today announced the launch of Easterly ROC Municipals, a municipal bond investment team that seeks to deliver tax-aware, yield-driven total returns for investors.
The British pound nudged down to a one-month low on the dollar on Wednesday, as markets gradually reassess the different interest rate paths of the Federal Reserve and Bank of England. Sterling touched $1.3570, its lowest since Sept. 12 and was last at $1.3094, down a whisker on the day.
* Alphabet down on potential DOJ action. * Fed minutes due at 2:00 p.m. ET. * Futures: Dow down 0.05%, S&P 500 down 0.04%, Nasdaq down 0.07% By Lisa Pauline Mattackal and Pranav Kashyap.
- Minutes of the U.S. Federal Reserve's half-a-percentage-point rate cut last month, to be released on Wednesday, may provide a final word on just how divided policymakers were over a decision that took many economists by surprise and sparked the first dissent from a member of the Board of Governors in 19 years.
* Futures lower: Dow 0.16%, S&P 500 0.15%, Nasdaq 0.20% Stock index futures fell on Wednesday as investors awaited the release of minutes from the Federal Reserve's last meeting for insight into the interest-rate path, while Alphabet dipped after the U.S. said it was considering breaking up Google.
* 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.
* Minutes may reveal division among Fed policymakers over rate cut. * Investors expect further rate cuts in November and December. * Upcoming inflation data crucial for future rate cut decisions. By Howard Schneider.
It may not quite be the famous question of Shakespeare's Hamlet, but it is something very much on the minds of U.S. homeowners these days: To refi or not to refi? Judging from the latest numbers, there is a lot of pent-up demand for Americans looking to refinance their home mortgages.
Hercules Capital, Inc. (HTGC), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that Moody?s Investors Service, Inc. has reaffirmed Hercules an investment grade credit and corporate rating of Baa3 with a revised outlook to positiv...
JPMorgan Chase and Wells Fargo 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.
* Fed's September meeting minutes due at 1800 GMT. * Gold hit its lowest since Sept. 20 in the last session. * Analyst sees range-bound trading with limited downside rallies. By Rahul Paswan.
?. Santander UK PLC. Issue of GBP 1,250,000,000.00. Floating rate covered bond due July 2027. Series 84 Tranche 1 MTN. ISSUE NAME. Our Ref. ISIN Code. TOTAL INTEREST AMT. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. GBP 18,007,116.44. POOL FACTOR.
?. Santander UK PLC. Issue of GBP 1,500,000,000.00. Floating Rate Covered Bonds due Jan 2028. Series 80 Tranche 1 MTN. ISSUE NAME. Our Ref. ISIN Code. TOTAL INTEREST AMT. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. GBP 22,033,471.23. POOL FACTOR.
The global economy could face losses of $14.5 trillion over a five-year period from a hypothetical geopolitical conflict which hits supply chains, insurance market Lloyd's of London said on Wednesday. The economic impact would result from severe damage to infrastructure in the conflict region and the potential for compromised shipping lanes, Lloyd's said in a statement.
China's new yuan loans likely jumped in September from August, a Reuters poll showed on Wednesday, as the central bank ramps up stimulus to drive the sputtering economy towards this year's growth target. Banks likely issued 1.87 trillion yuan in net new yuan loans last month, the median of 16 economists' estimates showed.
The New Zealand dollar slumped on Wednesday after the country's central bank cut interest rates by 50 basis points, while the U.S. dollar nudged up against most currencies and hit a new two month high on a basket of peers. The kiwi tumbled 0.8% on the U.S. dollar to $0.6086 and hit its lowest in nearly two months after the.
Several European Central Bank policymakers argued their case on Wednesday for another interest rate cut next week, even if some of their colleagues remained unconvinced as turmoil in the Middle East fuels volatility in energy costs.
* ECB policymakers advocate for rate cut amid economic slowdown. * Investors expect ECB to lower deposit rate to 3.25%, cut further. * Divergent views within ECB on rate cuts due to volatile energy costs. By Balazs Koranyi.
HONG KONG, Oct. 9, 2024 Among many Chinese private enterprises,?Fosun (FOSUF) stands out for its early start in globalization, firm execution, and strong operational capabilities. Recently, Fosun (FOSUF) has been very active in the Middle East region. In July, Hainan Mining signed a memorandum of understanding with Ajlan & Bros Holding to explore the feasibility of a lithium salt plant project in Saudi Arabia.
Singapore's central bank is widely expected to keep monetary policy unchanged next week and hold off easing settings amid inflation and growth uncertainties caused by geopolitical tensions. Of the 10 analysts polled by Reuters, nine expect the Monetary Authority of Singapore to hold off making changes to its policy at the scheduled review next Monday.
Decarbonisation of the global economy is progressing too slowly and while there has been improvement among big developed economies, emerging markets have failed to make reductions, Fitch Ratings warned in a report published on Wednesday. World CO2 emissions rose by 1.8% last year compared to world gross domestic product growth of 2.9%, the report said.
* China stocks off lows after MOF calls news conference. * Shanghai Composite -4%; Hang Seng flat. By Tom Westbrook. Chinese shares slumped and commodities were struggling to find a footing on Wednesday as investors tempered expectations for a robust Chinese economic recovery, while a downbeat outlook from New Zealand's central bank sent the kiwi to a seven-week low.
Japanese government bonds yields edged higher on Wednesday but lacked momentum amid a dearth of catalysts a day ahead of a keenly anticipated U.S. consumer price report.
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 outlook for the United States.
The European Central Bank is very likely to reduce its interest rates next week, policymaker Francois Villeroy de Galhau said on Wednesday. Villeroy, who is also the head of the French central bank, has said the ECB would likely cut interest rates later this month due to weak economic growth.
Italy's demographics are the worst in Europe in terms of economic growth potential between 2023 and 2040, Scope Ratings said on Wednesday, with a rapidly ageing population posing a threat to the country's strained public finances.
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 outlook for the United States.
Most emerging Asian currencies gained
ground against a muted dollar on Wednesday as investors stood on
the sidelines to assess the future rate cut path by the Federal
Reserve, while a potential ...
European Central Bank policymaker Yannis Stournaras is backing two interest rate cuts this year and expects further easing in 2025 as inflation continues to trend lower, he told the Financial Times in an interview published on Wednesday.
The Reserve Bank of India kept its key interest rate unchanged on Wednesday as widely expected, but changed its policy stance to "neutral", opening the door for rate cuts as early as December. India has lagged global peers in easing policy as inflation has remained above target due to high food prices.
European Central Bank policymaker Yannis Stournaras is backing two interest rate cuts this year and expects further easing in 2025, he told the Financial Times in an interview published on Wednesday.
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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