Kansas City Federal Reserve Bank President Jeffrey Schmid on Monday said it's possible that retailers rather than banks themselves could be the agents that push for wider adoption of the Fed's new instant-payment infrastructure, called FedNow.
- Citi Research raised its three-month forecast for gold prices, citing possible further U.S. labor market deterioration, interest rate cuts by the Federal Reserve, and physical and ETF buying, it said in a note on Monday. The bank upgraded its three-month gold price view to $2,800 per ounce from $2,700 previously, adding that its 6 to 12-month forecast is $3,000.
- Kansas City Federal Reserve Bank President Jeffrey Schmid said on Monday he supports a "cautious and deliberate" approach to interest rate cuts now that inflation is heading back to the Fed's 2% target and the labor market is normalizing.
Kansas City Federal Reserve Bank President Jeffrey Schmid said on Monday he supports a "cautious and deliberate" approach to interest rate cuts now that inflation is heading back to the Fed's 2% target and the labor market is normalizing.
* Russia showcases growing BRICS clout. * BRICS partners pressing Putin for peace in Ukraine. * Putin lays down conditions for any ceasefire. * BRICS members account for 35% of global economy. * BRICS summit coincides with IMF and World Bank meetings. By Vladimir Soldatkin, Guy Faulconbridge.
* TSX ends down 0.4% at 24,723.33. * Financials fall 0.6% * Real estate ends 1.2% lower. * Canada Goose shares lose 6.7% By Fergal Smith. Canada's main stock index pulled back from a record high on Monday, as financial and real estate stocks lost ground ahead of corporate earnings results and an interest rate decision by the Bank of Canada.
- Major banks expect gold to extend its record-breaking price rally into 2025 because of a revival in large inflows to exchange-traded funds and expectations of additional interest rate cuts from prominent central banks around the world, including the U.S. Federal Reserve.
* Boeing (BA) gains after offering new wage deal. * Humana, Cigna (CI) fall after report companies resumed merger talks. * 114 S&P 500 companies to report results this week. * Nvidia (NVDA) touched record high. By Lisa Pauline Mattackal, Purvi Agarwal and Carolina Mandl.
* Fed officials suggest gradual rate cuts ahead. * Investors position for Nov. 5 US presidential election. By Chuck Mikolajczak. The dollar climbed on Monday, buoyed by a rise in U.S. bond yields, as a run of solid U.S. economic data suggested the Federal Reserve can afford to be patient in cutting rates while investors positioned for the Nov. 5 presidential election.
-A trio of Federal Reserve policymakers on Monday expressed support for gradual U.S. interest-rate cuts, citing the strength of the economy and an uncertain outlook.
Headline inflation in Mexico probably accelerated in the first half of October, while its core measure continued to ease, a Reuters poll showed on Monday, reinforcing expectations that the central bank will continue cutting its benchmark interest rate.
ARC Capital Venture LLC has highlighted a renewed wave of investor optimism in the U.S. fixed income market, driven by positive economic indicators and a growing belief in the Federal Reserve?s ability to guide the economy toward a "soft landing."
* Boeing (BA) gains after offering new wage deal. * Humana, Cigna (CI) fall after report companies resumed merger talks. * 114 S&P 500 companies to report results this week. * Nvidia (NVDA) briefly touches record high. * Indexes down: Dow 0.75%, S&P 500 0.43%, Nasdaq 0.16% By Lisa Pauline Mattackal and Purvi Agarwal.
The dollar climbed on Monday, buoyed by a rise in U.S. bond yields, as solid U.S. economic data suggested the Federal Reserve can afford to be patient in cutting rates while investors positioned for the Nov. 5 presidential election.
A new European Central Bank report has stirred controversy by suggesting that Bitcoin adoption results in a redistribution of wealth from latecomers to early investors.
KBRA releases research analyzing the magnitude and change in distress rates by property type nationally and across the largest 20 metropolitan statistical areas in U.S. private-label CMBS 2.0 between September 2023 and September 2024.
Christopher Roberts joins the firm as a managing director, Joey Dierker as an associate director, Soledad Mancias as a municipal underwriter, and Steve Basset as a director.
Federal Home Loan Bank of Atlanta today announced the results of the 2024 director election. Suzanne DeFerie was elected to fill the member directorship representing the state of North Carolina and Scott Harvard was elected to fill the member directorship designated for the state of Virginia.
Benchmark 10-year Treasury yields rose to a 12-week high on Monday as investors continued to adjust to a more robust than previously thought American economy, though there are no major U.S. economic releases this week that are expected to drive market direction.
* Silver scales highest level since late-2012. * Gold has risen over 31% so far this year. * Gold could slow down while silver picks up, analyst says. By Anjana Anil. Gold took a breather after surging to a record high on Monday, as higher U.S. Treasury yields and dollar offset support from growing uncertainties surrounding the U.S. presidential election and the Middle East war.
Brazil's central bank chief Roberto Campos Neto on Monday highlighted a "huge" de-anchoring of inflation expectations in the country, adding that it is "very important" to bring inflation back to the 3% target, and policymakers are committed to doing so.
NEW YORK, Oct. 21, 2024 The Conference Board Leading Economic Index? ?for the?US declined by 0.5% in September 2024 to 99.7, following a 0.3% decline in August. "Weakness in factory new orders continued to be a major drag on the US LEI in September as the global manufacturing slump persists," said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board.
Federal Reserve Bank of Dallas President Lorie Logan said Monday she sees more rate cuts ahead for the central bank and suggested she sees no reasons why the Fed can't also press forward with shrinking its balance sheet.
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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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