Donald Trump's victory in the U.S. presidential election unleashed a massive rally in the dollar, fueled a rally on Wall Street and punished bond prices as expectations of tax cuts and tariffs on imports drove optimism about economic growth along with worries about inflation.
* Trump elected US president in stunning comeback. * Major stock indices on Wall St jump to record highs. * Dollar climbs, euro down 2% * Treasury yields surge as 30 year yield rises as much as 20 bps. * Mexican peso hits two-year low. By Koh Gui Qing and Dhara Ranasinghe.
* Longer-dated U.S. bond yields surge. * Trump win seen widening deficits. * Tariff plans could also increase inflation. * US yield curve hits steepest since late September. * Focus shifts to Fed meeting. By Harry Robertson and Gertrude Chavez-Dreyfuss.
* Euro area yields drop after Trump wins US elections. * Investors fear US tariffs could hurt European economy. * Markets price in more ECB easing by June 2025. * German yield curve at its steepest in over 2 years. By Stefano Rebaudo and Harry Robertson.
BEIJING, Nov. 6, 2024 Chinese Premier Li Qiang delivered a keynote speech at the opening ceremony of the 7th China International Import Expo and the Hongqiao International Economic Forum on Tuesday, saying China has continued to walk the talk in expanding opening-up and that the country is capable of promoting sound and steady economic growth, according to the Xinhua News Agency.
Fresh tariffs could be detrimental to global growth and lead retaliation and a vicious circle of trade war, European Central Bank Vice President Luis de Guindos said after Donald Trump won the U.S. presidential election promising new trade barriers. "Tariffs, trade barriers, protectionism is going to be detrimental to the global economy," de Guindos said at a conference in London.
Investors are bracing for further economic pain in Europe that could deepen euro losses and hurt its stocks, as a second Donald Trump presidency raises the prospects of hefty tariffs. European bonds emerged as winners, as expectations the European Central Bank will cut interest rates to counter an economic slowdown rose.
AM Best has upgraded the Financial Strength Rating to C+ from C and the Long-Term Issuer Credit Rating to ?b-? from ?ccc? of Mill? Reas?rans T?rk Anonim ?irketi. The ratings reflect Milli Re?s balance sheet strength, which AM Best assesses as weak, as well as its adequate operating performance, neutral business profile and marginal enterprise risk management.
Fresh tariffs could be detrimental to global growth and lead retaliation and a vicious circle of trade war, European Central Bank Vice President Luis de Guindos said after Donald Trump won the U.S. presidential election promising new trade barriers. "Tariffs, trade barriers, protectionism is going to be detrimental to the global economy," de Guindos said at a conference in London.
The Social Security Administration has approved a 2.5% Cost of Living Adjustment for 2025, reflecting the moderate decrease in inflation rates compared to recent years. In comparison, in 2025 social security recipients will receive a 2.5% increase, mirroring the latest Consumer Price Index.
Canadian economic activity expanded at a slower pace in October as purchases were greater than the previous month, Ivey Purchasing Managers Index data showed on Wednesday. The seasonally adjusted index fell to 52.0 last month from 53.1 in September. The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada.
-U.S. President-elect Donald Trump's impending return to the White House appears to put the Federal Reserve on a slower and shallower path for interest rate cuts, with a slew of new policies embraced by the Republican leader poised to juice the economy and stall, or reverse, the slowdown in inflation.
* Tesla rises almost 15% * Mexican peso drops. * Bitcoin roars to record. * Dow, S&P and Nasdaq surge to record highs. * Big gains in small caps, bank shares. By Lewis Krauskopf and Amanda Cooper.
With the rollout of a new final EPA rule, Midwest municipalities are seeking ways to finance lead pipe replacement efforts, including through revenue bonds.
Ukraine's state-run power distribution company Ukrenergo announced on Wednesday temporary bonds payments suspension aligned with a debt restructuring deal Kyiv had earlier reached with its bondholders.
AUSTIN, Texas, Nov. 6, 2024 Digital Realty Trust, Inc. (DLR), the largest global provider of cloud- and carrier-neutral data center, colocation, and interconnection solutions, today announced that its subsidiary, Digital Realty Trust (DLR), L.P., intends to offer, subject to market and other conditions, $1,000,000,000 aggregate principal amount of exchangeable senior notes due 2029 in a private offering to...
U.S. Treasuries fell sharply on Wednesday, propelling yields to multi-month highs as Donald Trump's presidential election victory ignited bets on economic policy shifts that could boost deficits and inflation.
* Longer-dated U.S. bond yields surge. * Trump win seen widening deficits. * Tariff plans could also increase inflation. By Harry Robertson and Rae Wee. U.S. Treasuries fell sharply on Wednesday, sending yields surging, as Donald Trump's election victory stoked bets on economic policy shifts that could boost deficits and inflation.
* Trump elected US president in stunning comeback. * Dollar climbs, Treasury yields hit four-month highs. * U.S. stock futures jump, European stocks rally. * Mexican peso hits two-year low. By Dhara Ranasinghe.
Donald Trump's victory in the U.S. presidential election unleashed a massive rally in the dollar, drove stocks to record highs and punished bond prices as expectations of tax cuts and tariffs on imports drove optimism about economic growth while fueling worries about inflation.
Financial markets are heading into this week's Federal Reserve meeting with more clarity over the outlook for the U.S. central bank's ongoing balance sheet drawdown than they've had in a while, and those keeping close tabs on the process see it continuing into next year even as the Fed keeps cutting interest rates.
Financial markets are heading into this week's Federal Reserve meeting with more clarity over the outlook for the U.S. central bank's ongoing balance sheet drawdown than they've had in a while, and those keeping close tabs on the process see it continuing into next year even as the Fed keeps cutting interest rates.
- The Federal Reserve has plenty of reasons to deliver a widely expected interest rate cut on Thursday, including a decline in inflation and a cooling in labor markets that makes it harder for Americans to find jobs. Continued weak demand for loans and strict lending standards may provide another, though less obvious, reason.
* Longer-dated U.S. bond yields surge. * Likely Trump win seen widening deficits. * Tariff plans could also increase inflation. By Rae Wee and Harry Robertson. U.S. Treasuries dropped on Wednesday, sending yields surging, as Donald Trump stood on the cusp of a second presidency that could usher in tax cuts and tariff hikes that boost the deficit and inflation.
Donald Trump's victory in the race to become the next U.S. president will have economic consequences for the rest of the world that are likely to be deep and quite immediate.
Donald Trump's victory in the race to become the next U.S. president will have economic consequences for the rest of the world that are likely to be deep and quite immediate.
Euro zone business activity held steady last month, a small improvement from September's modest decline, supported by an expansion in the bloc's dominant services industry that offset an ongoing - but stabilising - decline in manufacturing.
Euro zone business activity held steady last month, a small improvement from September's modest decline, supported by an expansion in the bloc's dominant services industry that offset an ongoing - but stabilising - decline in manufacturing.
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Dollar climbs, Treasury yields hit four-month highs. * U.S. stock futures jump, European futures higher too. * Trump claims victory after Fox News projects he has won US presidency. By Dhara Ranasinghe and Wayne Cole.
Germany's 2-year bond yield fell sharply in early trading on Wednesday as investors reacted to a likely Donald Trump victory in the U.S. presidential election, which could pave the way for higher tariffs that hurt Europe's economy. The German 2-year yield, which is sensitive to European Central Bank interest rate expectations, dropped 10 basis points at 2.203%. Yields move inversely to prices.
Indonesian central bank governor Perry Warjiyo said on Wednesday that there is still a room for rate cut with inflation remaining low, though in short-term the focus is on rupiah stability.
Yields on U.S. sovereign debt rose during election night as investors digested the preliminary results from the closely contested fight between Donald Trump and Kamala Harris.
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Dollar climbs, Treasury yields hit four-month highs. * Election results still close, but favour Trump. * U.S. stock futures jump, European futures fall. By Wayne Cole.
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Dollar climbs, Treasury yields hit four-month highs. * Election results still close, but favour Trump. * U.S. stock futures jump, European futures follow. By Wayne Cole.
- Traders trimmed bets Tuesday on Federal Reserve interest rate cuts next year, as early tallies for the U.S. presidential election rolled in through the evening.
Traders trimmed bets Tuesday on Federal Reserve interest rate cuts next year, as early tallies for the U.S. presidential election rolled in through the evening.
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Dollar climbs, Treasury yields hit four-month highs. * Election results mixed, betting sites favour Trump. * U.S. stock futures jump, European futures follow. By Wayne Cole.
Many Bank of Japan policymakers agreed the economy was making progress in meeting the necessary conditions for raising interest rates further, even as they backed a pause until global market uncertainties diminish, minutes of their September meeting showed.
* Many members said wages clearly rising, Sept minutes show. * Some saw progress in pass-through of labour costs, minutes show. * Board saw need to pause on U.S., market uncertainties. * BOJ kept rates steady, stressed near-term focus on risks. By Leika Kihara.
Wall Street tore to record highs on Wednesday and major stock markets around the world surged, while bitcoin hit an all-time-high and the dollar was set for its biggest one-day jump in four years after Donald Trump was elected U.S. president.
Japan's service activity contracted in October on weaker sales, with business confidence slipping to the lowest level since March 2022 on concerns over shortage of labour, a private survey showed on Wednesday. The final au Jibun Bank Service purchasing managers' index dropped to 49.7 in October from 53.1 in September, according to an index publisher S&P Global Intelligence.
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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