A double dose of potentially market-moving events arrives in the coming week as Americans vote on their next president and the Federal Reserve offers more insight on the path of interest rates at its monetary policy meeting. The Nov. 5 vote culminates an election cycle that has captivated the country and sparked swings in corners of financial markets.
AM Best has affirmed the Financial Strength Rating of A, the Long-Term Issuer Credit Rating of ?a? and the Mexico National Scale Rating of ?aaa.MX? of Reaseguradora Patria, S.A.. AM Best also has affirmed the Long-Term ICR of ?bbb? of Patria Re?s ultimate parent, Pe?a Verde, S.A.B.. The outlook of these Credit Ratings is stable.
A double dose of potentially market-moving events arrives in the coming week as Americans vote on their next president and the Federal Reserve offers more insight on the path of interest rates at its monetary policy meeting. The Nov. 5 vote culminates an election cycle that has captivated the country and sparked swings in corners of financial markets.
Benchmark 10-year U.S. Treasury yields hit a four-month high on Friday, with some investors wary of buying bonds ahead of the U.S. presidential election on Tuesday. The move came after an initial yield drop on much weaker-than-expected jobs data for October, which analysts said was likely hurt by the impacts of recent hurricanes and job strikes.
AM Best has affirmed the Financial Strength Rating of A, the Long-Term Issuer Credit Rating of ?a+? and the Mexico National Scale Rating of ?aaa.MX? of Seguros Inbursa, S.A. Grupo Financiero Inbursa.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Global Protection Reinsurance Ltd.. The outlook of these Credit Ratings is stable. The ratings reflect GPR?s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
* Canadian dollar weakens 0.1% against the greenback. * Touches a two-year low at 1.3953. * Factory PMI rises to a 20-month high. * Bond yields increase across a steeper curve. By Fergal Smith.
AM Best has removed from under review with developing implications and upgraded the Financial Strength Rating to B++ from B and the Long-Term Issuer Credit Rating to ?bbb? from ?bb+? of Unified Life Insurance Company.
Remittances sent to Mexico recorded their largest annual drop in eleven years in September, down 4.6% from the same month in 2023, according to data released on Friday by Mexico's central bank. The official data, measured in dollars, was impacted by the Mexican peso's depreciation. WHY IT'S IMPORTANT.
Argentina's central bank cut its benchmark interest rate to 35% in a surprise move on Friday, boosting local markets and signaling growing optimism by the government that it can tame the country's triple-digit inflation.
A data-heavy week has kept the U.S. Federal Reserve's core view intact of an economy where price pressures continue to ease and the job market continues to bend but not break amid ongoing economic growth. Employment data for October was among the weakest of recent reports, with prior months revised lower and only 12,000 jobs added.
S&P: * S&P SAYS BOEING RATINGS AFFIRMED ON GREATER-THAN-EXPECTED EQUITY ISSUANCE; REMAINS ON CREDITWATCH. * S&P: BOEING'S EQUITY ISSUANCE EXCEEDED OUR EXPECTATIONS & MITIGATES FINANCIAL IMPACT OF CASH FLOW DEFICITS NOW EXPECTED THROUGH 2025. * S&P: BOEING HAS LIMITED FLEXIBILITY TO ABSORB FURTHER PRESSURE ON ITS CASH FLOW GENERATION THAT WOULD DELAY IMPROVEMENT IN ITS CREDIT MEASURES.
The Bank of Canada on Friday started registering payment service providers as part of a plan to bring them under its regulation and promote secure and reliable digital transactions. Critics have complained that Canada's digital payment infrastructure is archaic when compared with some advanced countries, such as the UK and Australia, and lags even many developing countries.
New Windows and Doors Offer Increased Security. Retired Army E-4 Specialist Danielle Costly is feeling safe and secure in her home with the help of a $20,000 Housing Assistance for Veterans grant from the Federal Home Loan Bank of Dallas, through its member Gulf Coast Bank & Trust. This press release features multimedia.
A data-heavy week has kept the U.S. Federal Reserve's core view intact of an economy where price pressures continue to ease and the job market continues to bend but not break amid ongoing economic growth. Employment data for October was among the weakest of recent reports, with prior months revised lower and only 12,000 jobs added.
Employer hiring intent increases with 223,000 new listings for tech positions DOWNERS GROVE, Ill. 1 Employer job posting data indicates broad based hiring across software, cybersecurity, support, data and infrastructure.
The October employment report released Friday morning showed the U.S. economy added only 12,000 jobs in October, well-below estimates of 113,000 and the lowest monthly pace since December 2020. Experts Weigh In: Jeffrey Roach, chief economist for LPL Financial, indicated that hurricanes across the Southeast likely affected the establishment survey.
Argentina's central bank cut its benchmark interest rate by 500 basis points to 35% on Friday in a surprise move, signaling growing optimism that it can tame the country's triple-digit inflation.
AM Best has affirmed the Long-Term Issue Credit Ratings of ?aaa? on the $74,646,000 Class A-1 8.00% Fixed Rate Asset Backed Notes, Series 2008-3 and the $9,389,000 Class A-2 8.00% Fixed Rate Asset Backed Notes, Series 2008-3 as well as the Long-Term IR of ?a? on the $4,695,000 Class B 10.00% Fixed Rate Asset Backed Notes, Series 2008-3, issued by 321 Henderson Receivables V LLC, a special purpo...
The increase in the muni market's size, number of novel credits and retail investors suggest it's "finally time" for direct SEC regulation, argue market veterans Kent Hiteshew and David Dubrow.
The Bank of Canada on Friday started registering payment service providers as part of a plan to bring them under its regulation and promote secure and reliable digital transactions. Critics have often complained that Canada's digital payment infrastructure is archaic when compared with some advanced countries such as the UK and Australia and lags even many developing countries.
Benchmark 10-year U.S. Treasury yields rebounded from an earlier drop on Friday on uncertainty about whether hurricanes and job strikes were the main drivers of a weaker-than-expected jobs report for October, while investors also remained wary of taking large positions ahead of next week's U.S. elections.
Swiss economic output could be reduced by up to 1% if a Trump presidency sparked a trade war by imposing higher tariffs, a group of economists has warned ahead of next week's U.S. presidential election.
U.S. manufacturing activity slumped to a 15-month low in October and factories faced higher prices for inputs. The Institute for Supply Management said on Friday its manufacturing PMI fell to 46.5 last month, the lowest level since July 2023, from 47.2 in September.
U.S. manufacturing activity slumped to a 15-month low in October and factories faced higher prices for inputs. The Institute for Supply Management said on Friday its manufacturing PMI fell to 46.5 last month, the lowest level since July 2023, from 47.2 in September.
New Orders and Backlogs Contracting; Production and Employment Contracting; Supplier Deliveries Slowing; Raw Materials Inventories Contracting; Customers' Inventories Too Low; Prices Increasing; Exports and Imports Contracting. TEMPE, Ariz.
-Federal Reserve policymakers look all but certain to reduce short-term borrowing costs by a modest quarter of a percentage point at their policy meeting next week, their confidence that?the labor market is cooling but not crashing likely intact despite?new data showing U.S. employers added fewer workers in October than in any month since December 2020.
Argentina's central bank cut its benchmark interest rate to 35%, from previous 40%, the monetary authority said in a statement on Friday morning, as upward pressure on prices comes down in South America's second-biggest economy.
* October jobs report shows signs of labor market cooling. * Rate futures signal high chance of small Fed cut on Nov. 7. * Fed policy rate seen in 4.25%-4.50% range at end of 2024. By Ann Saphir.
Canadian manufacturing activity increased at a faster pace in October as production and employment picked up in anticipation of rising orders, data showed on Friday. The S&P Global Canada Manufacturing Purchasing Managers' Index rose to 51.1 in October from 50.4 in September, its highest level since February 2023.
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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