AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of Health Care Service Corporation, a Mutual Legal Reserve Company and its subsidiaries. The ratings reflect HCSC?s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management.
* Weekly jobless claims fall 12,000 to 216,000. * Continuing claims drop 26,000 to 1.862 million. * Consumer spending increases 0.5% in September. * Core PCE price index rises 0.3%; up 2.7% year-on-year. * Labor costs post smallest gain in over three years in Q3. By Lucia Mutikani.
* September US PCE inflation ticks up, as expected. * Fed seen cutting policy rate by 25 bps in Nov, Dec. * Yen firms after less dovish BOJ. * Euro higher after the bloc's strong Oct inflation data. By Saqib Iqbal Ahmed.
MONTR?AL, Oct. 31, 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 closing of the private offering of US$1.0 billion aggregate principal amount of 8.375% senior unsecured notes due 2032.
The Mint earns coveted industry recognition for the world's first double-sided colour circulation coin for the Central Bank of the Bahamas and its environmentally responsible bronze plating process OTTAWA, ON, Oct. 31, 2024 /PRNewswire/ - The Royal Canadian Mint is delighted to have won two prestigious Excellence in Currency awards at the International Association of Currency Affairs' 2024 Coin...
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of British Caribbean Insurance Company Limited. The ratings reflect BCIC?s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
* * Employment cost index falls to lowest in more than 3 years. * Underlying inflation, election cloud 2025 rates outlook. By Ann Saphir. With inflation now only just above the Federal Reserve's 2% target and. wage pressures easing., U.S. central bankers are widely expected to cut short-term borrowing costs next week in an effort to keep the labor market from further cooling.
U.S. labor costs recorded their smallest increase in more than three years in the third quarter amid cooling wage growth, indicating that inflation was firmly on a downward trend. The employment cost index, the broadest measure of labor costs, rose 0.8% last quarter, the Labor Department's Bureau of Labor Statistics said on Thursday.
Canada's main stock index opened lower on Thursday due to losses led by mining stocks, as uninspiring earnings from Wall Street tech giants dampened sentiment, while investors analyzed domestic GDP data. At 9:31 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was down 103.05 points, or 0.42%, at 24,404.74.
- The Commerce Department's personal consumption expenditures price index, closely watched by the Federal Reserve, increased 0.2% in September after an unrevised 0.1% gain in August. In the year through September, the PCE price index increased 2.1%, the smallest year-on-year rise in PCE inflation since February 2021 and followed a 2.3% advance in August.
U.S. labor costs recorded their smallest increase in more than three years in the third quarter amid cooling wage growth, indicating that inflation was firmly on a downward trend. The employment cost index, the broadest measure of labor costs, rose 0.8% last quarter, the Labor Department's Bureau of Labor Statistics said on Thursday.
Editor?s note: This story has been updated with additional details. Traders faced an unwelcome Halloween threat on Thursday as the Federal Reserve?s favored inflation measure accelerated, raising some concerns on the likelihood of back-to-back interest rate cuts going into the final two monetary policy meetings of the year.
MIDDLETOWN, Md., Oct. 31, 2024 Community Heritage Financial, Inc., the parent company of Middletown Valley Bank (CMHF), today announced the completion of a private offering of $12.1 million in aggregate principal amount of 6.75% Fixed-to-Floating Rate Subordinated Notes due 2034. "We are pleased to announce the successful completion of our private, in-market subordinated debt offering.
Marex Group plc (MRX), the diversified global financial services platform, announced the pricing on October 30, 2024 of a public offering of U.S.$600 million aggregate principal amount of its 6.404% Senior Notes due 2029. The Offering is expected to close on or about November 4, 2024, subject to the satisfaction of customary closing conditions.
-With inflation now only just above the Federal Reserve's 2% target and wage pressures easing, U.S. central bankers are widely expected to cut short-term borrowing costs next week in an effort to keep the labor market from further cooling.
U.S. consumer spending increased slightly more than expected in September, putting it and the economy on a higher growth trajectory heading into the final three months of the year.
Traders of short-term interest-rate futures on Thursday stuck to bets the Federal Reserve will cut short-term U.S. borrowing costs by a quarter-of-a-percentage point next week, and likely again by that amount in December, after economic data suggested upward price pressures continue to ease.
Traders faced an unwelcome Halloween threat on Thursday as the Federal Reserve?s favored inflation measure accelerated, raising some concerns on the likelihood of back-to-back interest rate cuts going into the final two monetary policy meetings of the year. The PCE price index rose 2.1% year-over-year, in line with analyst forecasts.
U.S. consumer spending increased slightly more than expected in September, putting it and the economy on a higher growth trajectory heading into the final three months of the year.
Brazil's labor market is posting blockbuster numbers ahead of a central bank rate decision next week, amid bets that the country's rate-setting committee will need to speed up monetary tightening due to inflationary risks.
The number of Americans filing new applications for unemployment benefits fell to a five-month low last week and consumer spending increased more than expected in September, showcasing the economy's strength heading into the final stretch of 2024 and just days before next Tuesday's presidential election.
The number of Americans filing new applications for unemployment fell last week as the distortions from hurricanes faded. Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 216,000 for the week ended Oct. 26, the Labor Department said on Thursday.
goeasy Ltd: * GOEASY LTD. ANNOUNCES EXPIRATION OF TENDER OFFER FOR ANY AND ALL OF THE AGGREGATE PRINCIPAL AMOUNT OF ITS 4.375% SENIOR UNSECURED NOTES DUE 2026 Source text: Further company coverage:
* * July growth downwardly revised to 0.1% from 0.2% * Growth likely to hit 0.3% in September, Q3 seen up 1% By Promit Mukherjee, Ismail Shakil. Canada's economy is likely to miss the Bank of Canada's revised third-quarter forecast after a slew of temporary factors stalled gross domestic product growth in August, data showed on Thursday, at a time when business output was already anemic.
The British pound firmed on Thursday a day after new UK finance minister Rachel Reeves announced a tax-and-spend budget, leading to concern about inflation and fuelling expectations of fewer interest rate cuts from the Bank of England. Sterling firmed 0.2% to $1.29870 after falling 0.4% a day earlier.
Expands User Access to Corporate-Bond Liquidity. NEW YORK, Oct. 31, 2024 ?Trumid and Tradewell Technologies announced the successful integration of Trumid's ?fixed-income trading protocols into Tradewell's software for institutional investors who trade corporate bonds. Trumid is a financial technology company and leading fixed income electronic trading platform.
Euro zone bond yields rose to multi-week highs on Thursday, and were set for their biggest monthly gain in six months as traders processed a series of developments around the world each largely pointing to a slower pace of central bank rate cuts.
WASHINGTON, Oct. 31, 2024 Fannie Mae today reported its third quarter 2024 financial results and filed its Third Quarter 2024 Form 10-Q with the Securities and Exchange Commission. Fannie Mae has scheduled a conference call to discuss the company's results today at 8:00 a.m., ET. Participants may join the conference call in listen-only mode via the webcast link below.
* Yen firms to as much as 151.92 per dollar. * Euro unchanged after the bloc's strong Oct inflation data. * Sterling rises on higher for longer rate view. * Dollar edges lower ahead of PCE data. By Brigid Riley and Medha Singh.
Futures tied to Canada's main stock index fell on Thursday as uninspiring earnings from U.S. tech giants dampened market sentiment, ahead of key domestic GDP and U.S. economic data later in the day. December futures on the S&P/TSX index were down 0.3% at 6:00 a.m. ET.
The Hungarian forint was down
on Thursday, hit by weak GDP data published the day before,
while other central European currencies were stable ahead of the
Nov. 5 U.S. presidential election.
Greece's jobless rate stood at 9.3% in September, down from 9.5% in August, data from statistics service ELSTAT showed on Thursday. Seasonally adjusted data showed 437,648 people were officially unemployed. Unemployment impacted women more than men, at the rates of 11.4% and 7.6%, respectively.
Euro zone inflation accelerated more than expected in October and could still pick up further in the coming months, bolstering the case for caution in European Central Bank interest rate cuts as price growth is not yet fully tamed.
Euro zone inflation accelerated more than expected in October and could still pick up further in the coming months, bolstering the case for caution in European Central Bank interest rate cuts as price growth is not yet fully tamed.
The bonds saw significant investor interest, including from the IFC, EBRD, and the German Development Finance Institution DEG, with demand over twice the size of the issuance ISTANBUL, Oct. 31, 2024 /PRNewswire/ -- R?nesans Holding has successfully completed the sustainable Eurobond issuance, enabled by its recently announced Turkiye's first Green Finance Framework in the sector? and will us...
HOUSTON, Oct. 31, 2024 The Central Bank of Nigeria, in collaboration with the Nigeria Inter-Bank Settlement System, Nigerian banks, and International Money Transfer Operators, participated in a pivotal forum titled "Optimizing Remittances to Nigeria: A Vision for the Future" in Houston, Texas.
Global economic growth will maintain its robust pace next year as major central banks implement a series of interest rate cuts against the backdrop of a strong U.S. economy, according to a Reuters poll of around 500 economists. Next week's hotly-contested U.S. presidential election could limit the growth picture, however, by re-writing the current rules around trade.
Most Asian central banks will cut interest rates slower than the U.S. Federal Reserve over the coming year, Reuters polls showed, as solid growth has eased pressure to maintain currency stability against a persistently strong dollar.
Euro zone bond yields rose to multi-week highs on Thursday as traders processed a series of developments around the world each largely pointing to a slower pace of central bank rate cuts. Germany's 10-year yield, the benchmark for the euro zone, rose as much as 5 bps to 2.425%, its highest since late July.
U.S. Treasury yields often move in tandem with the price of oil, but this relationship has broken down in recent weeks, suggesting that the near-term inflation outlook has taken a back seat to long-term deficit fears in the bond market. Falling oil prices - especially negative year-on-year price moves - are usually disinflationary. Yet yields and oil have diverged sharply.
-The Bank of Japan maintained ultra-low interest rates on Thursday and signalled the need to scrutinise global economic developments, highlighting its focus on risks to a fragile domestic recovery in deciding when to next tighten policy.
The Bank of Japan maintained ultra-low interest rates on Thursday and signalled the need to scrutinise global economic developments, highlighting its focus on risks to a fragile domestic recovery in deciding when to next tighten policy.
The Swiss National Bank made a profit of 5.67 billion Swiss francs in the third quarter, it said on Thursday, helped by a big rise in the value of gold. The central bank made a profit of 4.41 billion francs from its gold holdings, as concerns about the global political situation raised the value of its 1,040 tonnes of the metal.
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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