Japanese government bond yields rose on Thursday, tracking U.S. Treasury yields higher, as the market braced for a further rise in yields after a key U.S inflation report later in the day.
German 10-year yields hit a fresh one-month high on Thursday, tracking moves in U.S. Treasuries after the Federal Reserve minutes and ahead of U.S. inflation data later in the session. U.S. yields rose on Wednesday, as investors continued to price in a less aggressive policy loosening path from the Fed.
The U.S. dollar rose to a 10-week peak against the yen on Thursday as markets grew more confident about a patient approach by the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day.
Indian shares rose on Thursday as minutes from the Federal Reserve's latest policy meeting reinforced hopes of more rate cuts in the United States, which could likely trigger more inflows into emerging markets.
Warren Buffett's Berkshire Hathaway (BRK/A) has raised 281.8 billion yen in a yen-denominated bond offer, a move analysts say lays the ground for the U.S investment company to increase its exposure to Japanese assets. The deal was the largest bond sale in the Japanese currency for the firm in five years, a term sheet reviewed by Reuters on Thursday showed.
China's National Bureau of Statistics said it will conduct a nationwide sample survey from Thursday to "accurately" monitor population changes and better plan economic and social policies, as authorities struggle to boost a fall in births. The survey, which will run until Nov. 30, comes after the bureau conducted a similar poll in 2023.
Global stocks were little changed while longer-dated U.S. Treasury yields edged up in choppy trading on Thursday as investors weighed the interest rate path from the Federal Reserve after economic data and comments from central bank officials.
-Warren Buffett's Berkshire Hathaway (BRK/A) has raised 281.8 billion yen in a yen-denominated bond offer, a move analysts say lays the ground for the U.S investment company to increase its exposure to Japanese assets. The deal was the largest bond sale in the Japanese currency for the firm in five years, a term sheet reviewed by Reuters on Thursday showed.
China's central bank said on Thursday it would start accepting applications from financial institutions to join a newly created funding scheme, initially worth 500 billion yuan, to aid the capital market. The People's Bank of China said eligible securities firms, fund companies and insurers can apply to join the swap scheme, which gives them easier access to funding to buy stocks.
The U.S. dollar slipped against the yen on Thursday as investors weighed data showing labor market weakness as well as a slight uptick in consumer prices, suggesting that the Federal Reserve will likely continue cutting interest rates. Labor Department data on Thursday showed that the consumer price index increased 0.2% in September.
The U.S. dollar traded near a two-month peak against major peers on Thursday as markets grew more confident about a patient approach from the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day.
KBRA releases research on exposure in its rated universe of commercial real estate securities and single-family rentals to Hurricane Milton. KBRA identified loans within our rated universe of CRE securities?including conduit, Freddie Mac, single borrower, and CRE collateralized loan obligation transactions?along with SFRs that have exposure to the 11 at-risk Gulf Coast counties.
Redwood Trust, Inc. (RWT) today announced that it priced approximately $40 million aggregate principal amount of its 7.75% convertible senior notes due 2027 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
Ares Management Corporation (ARES) today announced that it has priced an offering of $750,000,000 aggregate principal amount of its 5.600% Senior Notes due 2054. The notes will bear interest at a rate of 5.600% per annum. The net proceeds from the Offering will be approximately $737.7 million, after deducting the underwriting discount, but before offering expenses.
- San Francisco Federal Reserve Bank President Mary Daly on Wednesday said she "fully" supported the U.S. central bank's half-of-a-percentage-point interest-rate cut last month, and said one or two more rate cuts this year are likely if the economy evolves as she expects.
- A dozen of the largest multilateral development banks could collectively lend a further half-trillion dollars before facing rating downgrades, Fitch said in a Wednesday report, following a review of its criteria for rating supranational institutions.
Federal Reserve Bank of Boston President Susan Collins repeated Wednesday that she supports more interest rate cuts to help keep the economy on its current healthy track. "Further adjustments will likely be needed," Collins said in the text of a speech to be delivered before a local group in Worcester, Massachusetts. Collins' remarks closely mirrored a speech she gave on Tuesday.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Golden Tree Reinsurance Limited. Golden Tree is a subsidiary of Iris Financial Services Limited and is owned ultimately by Springbrook Capital Ltd., a privately held holding company with diversified operations in insurance and financial services.
Webcast Scheduled for Wednesday, Oct. 23, at 5:30 p.m. ET Sallie Mae?, formally SLM Corporation (SLM), will release third-quarter 2024 financial results after market close on Wednesday, Oct. 23, 2024. A live audio webcast and presentation slides will be available at SallieMae.com/investors and the hosting website. Investors should log in at least 15 minutes prior to the broadcast.
* Dow, S&P close at record highs. * China stocks register biggest daily drop since pandemic. * US yields move higher on slower Fed pace. * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Chuck Mikolajczak.
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.
With munis establishing "directional footing" in the fourth quarter of this year, the technical backdrop is still the market driver for 2024, said Jeff Lipton, a research analyst and market strategist.
* U.S. stocks advance but Alphabet weighs. * China stocks register biggest daily drop since pandemic. * European shares gain on defensive boost. * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Chuck Mikolajczak.
Minutes from the September Federal Open Market Committee meeting released Wednesday show that a back-and-forth likely took place among members about whether to cut interest rates by 25 basis points or the 50-basis-point reduction, with the latter ultimately chosen.
A "substantial majority" of U.S. Federal Reserve officials last month supported a half-point rate cut to start the turn towards easier monetary policy, but there appeared more universal agreement that the initial move would not commit the Fed to any particular pace of rate reductions in the future, minutes of the two-day policy meeting showed on Wednesday.
* Policymakers at Sept. meeting saw half-point cut as warranted by weak jobs, inflation reports. * Officials said future pace of cuts not determined by large initial reduction. * 18 policy meeting. By Howard Schneider.
- The interest rate for the most popular U.S. home loan rose to 6.36% last week, marking the biggest weekly increase in more than a year after better-than-expected economic data caused financial markets to scale back bets on further Federal Reserve interest-rate cuts.
Professional crypto trader Justin Bennett shared his insights on Bitcoin's market volatility and future predictions ahead of the FOMC minutes meeting. What Happened: Bennett took to social media to highlight that the meeting minutes are not a Fed rate decision, which is why does not expect as much volatility as typically seen from a Fed rate decision.
According to public sector workers, labor shortages, aging infrastructure, and affordable housing rank as the primary challenges facing public entities, as well as the rising threat to the tax-exemption.
* 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 0.92%, S&P 500 up 0.60%, Nasdaq up 0.45% By Lisa Pauline Mattackal and Pranav Kashyap.
Shortages in medical personnel worldwide weighing on real gains. CLEVELAND, Oct. 9, 2024 ?Global healthcare expenditures are projected to rise 3.0% annually in real terms through 2028, according to Global Healthcare, a report recently released by Freedonia Focus Reports. View the full subscription-ready collection here: https://www.freedoniagroup.com/freedonia-focus.
- U.S. regional banks preparing for higher capital requirements will get some relief from the Federal Reserve's jumbo rate cut. As lenders gear up to report third-quarter earnings this month, monetary easing will help regional banks to shrink paper losses on bond portfolios that were seen as a drag on future profits.
* U.S. stocks advance but Alphabet weighs. * China stocks register biggest daily drop since pandemic. * European shares gain on defensive boost. * Graphic: World FX rates http://tmsnrt.rs/2egbfVh. By Chuck Mikolajczak.
Recovering consumer confidence has boosted online shopping in Europe this year, industry group Ecommerce Europe said on Wednesday, while low-cost marketplaces like PDD Holdings' Temu have heightened competition. Inflation has hurt shoppers' spending power around the world and helped fuel rapid growth in online platforms selling cheap products.
Widening U.S. budget deficits and inflationary trade policies after the Nov. 5 presidential election could weigh on U.S. government bonds despite the near-term advantages of a central bank in easing mode, bond giant PIMCO said on Wednesday.
By Alden Bentley. The U.S. dollar edged higher on Wednesday ahead of the release of records from the Federal Reserve's September decision to slash interest rates by 50 basis points, reflecting confidence that the central bank will not continue easing so aggressively. Worries about demand from China have been a theme all week, amid disappointment in the follow-up to last month's stimulus measures.
The Bank of Israel kept interest rates unchanged on Wednesday for a sixth straight meeting, but raised the prospect of future rate increases should armed conflict on two fronts push inflation up more than expected.
Canada's main stock index edged up on Wednesday, supported by gains in technology and consumer discretionary stocks, while investors awaited the minutes of the Federal Reserve's last policy meeting. The Toronto Stock Exchange's S&P/TSX composite index was up 14.2 points, or 0.06%, at 24,086.71 following two consecutive sessions of losses.
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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