* German 2-year yield hits two-week high. * German state inflation points to upside surprise for national data. * Traders trim bets on large ECB cut. By Samuel Indyk. Shorter-dated euro zone bond yields were higher on Wednesday after quickening inflation in five German states indicated the national rate could also rise, denting expectations of a large European Central Bank rate cut in December.
Futures tied to Canada's main stock index fell on Wednesday as cautious investors awaited key economic data from the United States in the run up to the U.S. presidential election next week. December futures on the S&P/TSX index were down 0.1% at 6:25 a.m. ET.
The interest rate for the most popular U.S. home loan jumped last week to 6.73%, its highest since July, adding to headwinds for the housing market even as the Federal Reserve looks set to further lower its target for short-term borrowing costs.
JBT Corporation, a leading global technology solutions provider to high-value segments of the food and beverage industry, today announced that the Financial Supervisory Authority of the Central Bank of Iceland has granted an extension of the expiration of JBT?s voluntary takeover offer to acquire all issued and outstanding shares of Marel hf..
* * Recovery seen muted. * Trade tensions with U.S. and China may weigh on future growth. By Balazs Koranyi. The euro zone economy grew faster than expected last quarter but threats of oversized tariffs from a potential Trump presidency, escalating trade tensions with China and muted consumer confidence are keeping the outlook weak.
* Brent and WTI climb more than 2% * OPEC+ could delay December oil output increase, sources say. By Arunima Kumar. Oil prices rose more than 2% on Wednesday after Reuters reported that OPEC+ could delay a planned oil production increase in December by a month or more because of concern over soft oil demand and rising supply.
A look at the day ahead in U.S. and global markets from Mike Dolan. Markets struggling which way to look will be dizzy again in an event-strewn Wednesday but the spotlight first thing drops on Alphabet's impressive earnings beat and a relief-rally in election-bruised U.S. Treasuries.
French economic growth beat estimates by accelerating by 0.4% in the third quarter 2024, from 0.2% in the second quarter, due to the impact of the Paris Olympic Games, preliminary data from statistics agency INSEE showed on Wednesday. Economists polled by Reuters had, on average, forecast gross domestic product growth of 0.3% for the third quarter.
A look at the day ahead in U.S. and global markets from Mike Dolan Markets struggling which way to look will be dizzy again in an event-strewn Wednesday but the spotlight first thing drops on Alphabet's impressive earnings beat and a relief-rally in election-bruised U.S. Treasuries.
The euro zone economy grew faster than expected last quarter but threats of oversized tariffs from a potential Trump presidency, escalating trade tensions with China and muted consumer confidence are keeping the outlook weak.
* * Recovery seen muted. * Trade tensions with U.S. and China may weigh on future growth. By Balazs Koranyi. The euro zone economy grew faster than expected last quarter but threats of oversized tariffs from a potential Trump presidency along with escalating trade tensions with China are keeping the outlook muted.
* Futures up: Dow 0.05%, S&P 500 0.19%, Nasdaq 0.19% U.S. stock index futures rose on Wednesday, as Alphabet's strong quarterly results buoyed sentiment around technology megacaps, while investors also awaited crucial data to gauge the strength of the economy and the labor market.
Larry Fink, the CEO of BlackRock Inc. (BLK), has projected that the U.S. Federal Reserve will not reduce interest rates as significantly as the market anticipates, citing high ?embedded inflation.
China's stimulus efforts could come with a cost and they must be carried out alongside reforms to ensure sustainable economic growth, Liu Shijin, a former central bank adviser, said in remarks published on Wednesday. "Stimulus could come with a cost and we should combine stimulus with reforms," Chinese media outlet Yicai quoted Liu as saying at a forum on Tuesday.
* GDP up 0.2% in Q3 from Q2; 0.1% decline had been expected. * Overall inflation went up to 2.4% from 1.8% in September. * Jobless data worse than expected in Europe's largest economy. * 'Still far from what we need but...a ray of hope,' economy minister says. By Maria Martinez.
Germany's gross domestic product unexpectedly grew by 0.2% in the third quarter compared with the previous three-month period, preliminary data from the statistics office showed on Wednesday. Analysts polled by Reuters had forecast a 0.1% quarter-on-quarter decrease in adjusted terms. The statistics office provides more detailed data on its website.
The forint slid early on
Wednesday after much weaker-than-expected GDP data showed the
Hungarian economy dipped into recession in the third quarter.
Hungary's economy is still recovering ...
Euro zone bond yields were lower on Wednesday before German and Spanish inflation releases that could affect interest rate expectations for the European Central Bank. Euro area-wide figures are released on Thursday. Germany's 10-year yield, the euro zone benchmark, fell 3.5 basis points to 2.296%, reversing some of Tuesday's 5 bp rise.
French economic growth beat estimates by accelerating by 0.4% in the third quarter 2024, from 0.2% in the second quarter, due to the impact of the Paris Olympic Games, preliminary data from statistics agency INSEE showed on Wednesday. Economists polled by Reuters had, on average, forecast gross domestic product growth of 0.3% for the third quarter.
French economic growth beat estimates by accelerating by 0.4% in the third quarter 2024 from 0.2% in the second quarter because of impact of the Paris Olympic Games, preliminary data from statistics agency INSEE showed on Wednesday. Economists polled by Reuters had an average forecast of 0.3% for third quarter gross domestic product growth.
The dollar hovered close to a three-month peak on Wednesday in a big week for macroeconomic data that could reveal the path for U.S. monetary policy. The Australian dollar slipped to a three-month trough after some stickiness in inflation suggested a Reserve Bank of Australia interest rate cut is unlikely this year.
SHANGHAI, Oct. 29, 2024 A news report from?english.shanghai.gov.cn Along with the steadily growing production demand and constantly optimized industrial transformation and upgrade, Shanghai reported that its gross domestic product, or GDP, for the first-three-quarters of the year, grew by 4.7 percent to reach 3.44 trillion yuan, according to official sources.
Japanese government bond yields fell on Wednesday, tracking U.S. Treasury yields lower, as the market awaited the outcome of the Bank of Japan's policy meeting.
A look at the day ahead in European and global markets from Rae Wee. Investors will have a full calendar of major releases to digest on Wednesday, from bank and Big Tech earnings to a UK budget, along with a U.S. private payrolls report and growth figures for the U.S. and several big European economies.
A look at the day ahead in European and global markets from Rae Wee. Investors will have a full calendar of major releases to digest on Wednesday, from bank and Big Tech earnings to a UK budget, along with a U.S. private payrolls report and growth figures for the U.S. and several big European economies.
- The Federal Reserve risks moving beyond its role as a lender of last resort to a prop markets need to function even in normal times, with pressures likely to increase as U.S. presidential candidates look set to add trillions more to deficits.
-The Federal Reserve risks moving beyond its role as a lender of last resort to a prop markets need to function even in normal times, with pressures likely to increase as U.S. presidential candidates look set to add trillions more to deficits.
The U.S. economy grew solidly in the third quarter, with consumer spending increasing at its fastest pace in 1-1/2 years and inflation slowing sharply, continuing to defy forecasts of a recession and outperforming its global peers ahead of the Nov. 5 presidential election.
* Third-quarter GDP forecast to increase at a 3.0% rate. * Consumer, business spending expected to add to GDP growth. * Core PCE inflation seen rising at a slower 2.1% pace. * Key report lands days before presidential election. By Lucia Mutikani.
The dollar softened against other major currencies on Wednesday, after stronger-than-expected U.S. data and a UK budget release set off choppy trading in a market awaiting jobs data later this week and a U.S. election the next. U.S. private payrolls growth surged in October, overcoming fears of temporary disruptions from hurricanes and strikes, according to the ADP National Employment Report.
The dollar hovered close to a three-month peak on Wednesday in a big week for macroeconomic data that could reveal the path for U.S. monetary policy. The Australian dollar edged closer to a three-month trough after some stickiness in inflation suggested a Reserve Bank of Australia interest rate cut is unlikely this year.
Chicago soybean futures rose on Wednesday after a four-session slide, with reports of lower exports from top exporter Brazil and higher European imports supporting the market, although a strong U.S. soy harvest limited the gains. Corn and wheat futures edged higher. FUNDAMENTALS.
Australian consumer price inflation slowed to a 3-1/2 year low in the third quarter, though the core measure was still sticky and reinforced market wagers that the central bank won't start cutting rates until next year. Overall, the report was rather mixed, with consumers benefiting from government rebates on electricity and a drop in petrol, while services price pressures persisted.
MONTR?AL, Oct. 29, 2024 ?Garda World Security Corporation, an entrepreneurial-driven corporation focused on building global champions in security services, AI-enabled security technology, integrated risk management and cash automation solutions, announced today the pricing of the private offering of US$1.0 billion aggregate principal amount of 8.375% senior unsecured notes due 2032.
Federal National Mortgage Association (FNMA) : * FANNIE MAE - GUARANTY BOOK OF BUSINESS DECREASED AT COMPOUND ANNUALIZED RATE OF 0.2% IN SEPT. * FANNIE MAE - CONVENTIONAL SINGLE-FAMILY SERIOUS DELINQUENCY RATE 0.52% IN SEPT; MULTIFAMILY SERIOUS DELINQUENCY RATE 0.56% IN SEPT. * FANNIE MAE - AS OF SEPT 30 MAXIMUM EXPOSURE TO FREDDIE MAC COLLATERAL INCLUDED IN OUTSTANDING FANNIE MAE RESECURITIZATIONS WA...
PANAMA CITY, Oct. 29, 2024 Banco Latinoamericano de Comercio Exterior, S.A., a Panama-based multinational bank originally established by the central banks of 23 Latin-American and Caribbean countries to promote foreign trade and economic integration in the Region, announced today its results for the Third Quarter and nine months ended September 30, 2024.
- A look at the day ahead in Asian markets. Markets in Asia appear to lack clear direction at the open on Wednesday, with investors still digesting the news of a potential 10 trillion yuan fiscal boost from China, while weighing the impact of a firm U.S. dollar and buoyant Treasury yields.
A look at the day ahead in Asian markets. Markets in Asia appear to lack clear direction at the open on Wednesday, with investors still digesting the news of a potential 10 trillion yuan fiscal boost from China, while weighing the impact of a firm U.S. dollar and buoyant Treasury yields.
FirstSun Capital Bancorp (FSUN) and HomeStreet, Inc. (HMST) announced that, based on discussions FirstSun and its subsidiary, Sunflower Bank, N.A. have had with the Federal Reserve and the Texas Department of Banking, that regulatory approvals necessary for the mergers with HomeStreet (HMST) and its subsidiary, HomeStreet Bank to proceed have not been obtained and FirstSun and Sunflower have been asked to withdraw ...
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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