A weak yen is beneficial for Japan's economy as the boost to exports exceeds the increase in cost of imports, the International Monetary Fund's Japan mission chief Nada Choueiri told Reuters on Friday. "Japan is a very outward-oriented economy, and a very open economy," which means on a net basis, the benefit from rising exports from a weak yen exceeds the rising costs in imports, she said.
New Enhancements Introduced to the CIRT Structure WASHINGTON, Oct. 25, 2024 Fannie Mae?announced today that it has executed its seventh Credit Insurance Risk Transfer? transaction of the year.
U.S. Treasury yields dipped on Friday as investors wait on key employment data next week for fresh clues on the likely path of Federal Reserve interest rate cuts and the result of next month's U.S. elections.
Wall Street's main indexes opened higher on Friday, as Treasury yields eased and investors looked ahead to quarterly results from some of the biggest companies.
Canada's retail sales in August increased marginally and missed expectations as consumer spending showed strains across majority of sectors, data showed on Friday. Retail sales, which comprise motor vehicles, clothing, furniture, food and beverages among others, grew by 0.4% in August on a monthly basis, slower than growth of 0.9% seen in the previous month.
-The U.S. Federal Reserve cut interest rates by an oversized 50 basis points in its Sept. 17-18 meeting that Chair Jerome Powell said was meant to show policymakers' commitment to sustaining a low unemployment rate now that inflation had eased.
Russian Central Bank Governor Elvira Nabiullina and her deputy Alexei Zabotkin addressed a news conference on Friday after the central bank hiked its key rate to 21%, the highest level since February 2003. Nabiullina spoke in Russian. NABIULLINA ON THE RATE DECISION.
New orders for key U.S.-manufactured capital goods increased more than expected in September, though business spending on equipment probably slowed marginally in the third quarter. With the Federal Reserve expected to continue cutting interest rates this year and in 2025, business investment likely remains supported.
Russian Central Bank Governor Elvira Nabiullina addressed a news conference on Friday after the central bank hiked its key rate to 21%, the highest level since February 2003. Nabiullina spoke in Russian. ON RATE DECISION.
- U.S. money market funds attracted substantial inflows in the week to Oct. 23 as uncertainty over the U.S. presidential election and a reassessment of Federal Reserve rate outlook boosted demand for safer assets. According to LSEG data, investors acquired a net $29.98 billion worth of money market funds during the week, posting their fourth weekly net purchase in five weeks.
U.S. money market funds attracted substantial inflows in the week to Oct. 23 as uncertainty over the U.S. presidential election and a reassessment of Federal Reserve rate outlook boosted demand for safer assets. According to LSEG data, investors acquired a net $29.98 billion worth of money market funds during the week, posting their fourth weekly net purchase in five weeks.
Aquarian Insurance announced today the pricing of a private offering of $750 million aggregate principal amount of 7.875% senior notes due 2029, to be issued by Aquarian Insurance Holdings LLC, APH Somerset Investor 2 LLC, APH2 Somerset Investor 2 LLC, and APH3 Somerset Investor 2 LLC.
Investors globally are piling into the U.S. dollar and betting on rising volatility ahead of a crucial two weeks in which the United States and Japan elect leaders, three major central banks decide on interest rates and the new UK government presents its budget.
Global analytics software leader, FICO, has announced that Atlantic Bay Mortgage Group is the latest to adopt FICO ? Score 10 T, FICO?s newest, most powerful and predictive score, for its mortgages not sold to Fannie Mae or Freddie Mac. FICO? Score 10 T incorporates trended credit bureau data to reflect consumer credit utilization over time, rather than at a single point in time.
- UBS Fund Management AG now holds a 3% stake in Swiss National Bank, according to an October filing with the country's SIX stock exchange. According to LSEG data, UBS Asset Management, another subsidiary of the UBS group, also has a stake in the Swiss central bank. UBS and the SNB declined to comment.
Global investors channelised large investments into the safety of money market funds in the week through Oct. 23 on caution over the upcoming elections in the United States and Japan, and the shift in the outlook for U.S. interest rates.
* Apple (AAPL) falls after decline in China Q3 sales. * Capri plummets after US judge blocks Tapestry merger. * Centene (CNC) jumps following Q3 profit beat. * Futures up: Dow 0.16%, S&P 500 0.22%, Nasdaq 0.24% By Lisa Pauline Mattackal and Purvi Agarwal.
* Greenback, 10-year Treasury yields retreat from 3-month peaks. * Surprise drop in U.S. jobless claims keeps run of robust data. * Hawkish Fed bets to be tested by monthly payrolls data on Nov. 1. * Mega-cap earnings due next week from Alphabet, Amazon (AMZN), Meta. By Naomi Rovnick and Kevin Buckland.
* The central bank says further rate hikes possible. * Inflation is not slowing down. * Inflationary expectations highest since the start of the year. * Key rate higher than at the start of the conflict in Ukraine. * By Elena Fabrichnaya and Gleb Bryanski.
* Futures up: Dow 0.19%, S&P 500 0.24%, Nasdaq 0.28% U.S. stock index futures edged higher on Friday, with a decline in Treasury yields offering some relief to equities despite a drop in Tesla, although all three major indexes looked poised for a weekly loss.
* Greece must protect downward trajectory of debt, Hatzidakis says. * Any boost to wages should not alter fiscal targets: Hatzidakis. * Greece aims to relinquish Europe's highest debt-to-GDP ratio by 2028. By David Lawder.
Central European currencies
were weaker on Friday, under pressure from a stronger dollar as
traders bet that the U.S. Federal Reserve will slow rate cuts
and amid uncertainty about the upcoming U.S.
A group of funds backed by the world's 20 largest economies aimed at financing climate transition projects needs to be more targeted and operate with greater efficiency to improve the slow pace of disbursements, according to a report on Thursday from the G20's sustainable finance working group.
* Greenback, 10-year Treasury yields retreat from 3-month peaks. * Surprise drop in US jobless claims continues run of robust data. * Hawkish Fed bets to be tested by monthly payrolls data on Nov. 1. * Mega-cap earnings due next week from Alphabet, Amazon (AMZN), Meta. By Naomi Rovnick and Kevin Buckland.
-UBS Global Wealth Management has raised its stance on global equities to "attractive" from "neutral", citing resilient U.S. economic growth, monetary policy easing by major central banks and an artificial intelligence boom.
NatWest (NWG) reported a 26% rise in third-quarter profit and raised its income forecast for 2024, as it grew lending and deposits while sustaining margins despite an uncertain UK economic outlook.
Australia's central bank recorded its fourth straight year of accounting losses in 2024, it said on Friday, as the legacy of its pandemic interventions lingers on its balance sheet.
The European Central Bank may need to ease policy somewhat faster than earlier thought but interest rates do not need to fall to a level where the bank is stimulating economic growth, Latvian central bank chief Martins Kazaks said.
Japanese government bond yields edged lower on Friday, tracking a fall in U.S. Treasury yields, although the declines were capped as the market remained cautious about a close-call domestic election this weekend. The 10-year JGB yield was last down 0.5 basis point at 0.95%, while 10-year JGB futures rose 0.06 points to 144.02 yen.
Japan's industrial output likely rebounded in September, led by a recovery in auto production, but sustained solid growth may be uncertain on lacklustre global demand, a Reuters poll showed on Friday. Industrial output was forecast to rise 1.0% in September from the previous month, the poll of 17 analysts found.
The Bank of Japan is set to maintain ultra-low interest rates next week, and probably signal a less dovish policy outlook due to receding fears of U.S. recession - and the need to keep speculators from pushing down the yen too much. Since ending a decade-long, radical stimulus programme in March, the BOJ has signaled its intention to keep raising interest rates from rock-bottom levels.
The World Bank announced on Thursday a new gender strategy aimed at boosting economic opportunities for women and enabling their participation in the global economy through social protection and access to broadband and capital.
* Greenback, 10-year Treasury yields retreat from 3-month peaks. * Surprise drop in US jobless claims continues run of robust data. * Hawkish Fed bets to be tested by monthly payrolls data on Nov 1. * Mega-cap earnings due next week from Alphabet, Amazon (AMZN), Meta. By Kevin Buckland.
The dollar slipped for a second straight session, as a recent ascent lost steam, but the greenback was still on track for a fourth straight week of gains after data this week kept interest rate expectations for the Federal Reserve in check.
The yen languished near a three-month trough on Friday and was headed for a fourth straight weekly loss, ahead of an election in Japan over the weekend that is likely to complicate the Bank of Japan's policy normalisation plans. In the broader market, the dollar retreated from its recent highs as it tracked U.S. Treasury yields lower, though it remained on course for yet another weekly gain.
* Rise in Tokyo core CPI above forecast. * Inflation excluding fresh food, fuel accelerates to 1.8% By Makiko Yamazaki. Core consumer prices in Japan's capital rose 1.8% in October from a year earlier, data showed on Friday, slipping below the central bank's 2% target for the first time in five months. The Tokyo inflation figures are considered a leading indicator of nationwide trends.
Ministers from the G20 group of largest economies agreed on Thursday that international trade and investments should foster sustainable development and enhance the participation of women in world trade.
Forum Energy Technologies Inc (FET) : * FORUM ENERGY TECHNOLOGIES ANNOUNCES PRICING OF $100 MILLION SENIOR SECURED BOND ISSUANCE Source text for Eikon: Further company coverage:
Home flooring manufacturer Mohawk
Industries (MHK) reported lower third-quarter revenue on Thursday, hurt by pressured pricing and weak demand for its flooring and ceramic products. Shares of the Calhoun, Georgia-based company fell nearly 10% after the bell.
Capital One reported a 1.6% increase in third-quarter profit on Thursday, as elevated interest rates enabled the consumer lender to earn more from customers repaying credit card debt. The company has been shielded from the broader industry-wide weakness in interest income in recent quarters, as rates on credit card debt are significantly higher than those on mortgages and other types of loans.
Forum Energy Technologies, Inc. (FET) announced today that it has finalized the terms of FET?s private offering of USD $100.0 million aggregate principal amount of 10.5% senior secured bonds.
* McDonald's pulls Quarter Pounder from one-fifth of its US restaurants. * Burger King and other chains remove onions from menu items. * Outbreak has sickened nearly 50, killed one. * Onions, beef patties under scrutiny by regulators. * By Brad Brooks.
STAMFORD,?Conn. Third Quarter 2024 Financial Highlights: Q4 2024 Outlook: This outlook is based on?Tronox's (TROX) views on current global economic activity and is subject to changes and impacts associated with the macroeconomic conditions, global supply chain, and inflation-related challenges, among others.
Freddie Mac today posted to its website its Monthly Volume Summary for September 2024, which provides information on Freddie Mac?s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities and other investments. Freddie Mac?s mission is to make home possible for families across the nation.
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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