By RoboForex Analytical Department EUR/USD is settling around 1.0785, assessing the market impact of this week's events. Trump's protectionist stance could stir inflationary pressures, prompting the Federal Reserve to maintain higher interest rates than anticipated. Yesterday, the Federal Reserve cut interest rates by 25 basis points to 4.75% in line with market predictions.
Brazil's consumer prices rose more than expected in October, reinforcing inflationary concerns that led the country's central bank to accelerate its monetary tightening pace this week and signal further rate hikes ahead.
Delivered third quarter financial results within guidance Moody?s Ratings Upgrades Holley?s CFR to B2 Targeted efforts and marketing calendar event support normalizing distribution partner inventory levels Holley Performance Brands, a leader in automotive aftermarket performance solutions, today announced financial results for its third quarter ended September 29, 2024.
* China unveils steps to tackle 'hidden' debt of local governments. * Treasury yields sag as Fed signals careful, patient easing path. * World stocks up 3% this week. By Dhara Ranasinghe.
Euro zone bond yields moved lower on Friday, at the end of a busy period in which they had to digest major central bank meetings, the U.S. election and the collapse of the German government, and which has left them near flat on the week.
The international community must avoid exacerbating existing protectionist sentiment, Italy's central bank governor said on Friday, after Donald Trump's election stoked fears of hefty tariffs and trade wars.
* Airbnb (ABNB), Pinterest (PINS) fall after results. * Indexes set for sharp weekly gains. * China ADRs slip after stimulus measures. * Futures down: Dow 0.04%, S&P 500 0.17%, Nasdaq 0.39% By Lisa Pauline Mattackal.
Emerging Europe's currencies
levelled out on Friday, holding on to most of Thursday's gains,
against the backdrop of a U.S. Federal Reserve rate cut and the
dollar pulling back slightly ...
A look at the day ahead in U.S. and global markets from Mike Dolan. Wall Street's S&P500 looks poised to test 6,000 for the first time as the Federal Reserve underscored a post-election stock surge with its second interest rate cut of the year on Thursday and a nod to more.
A look at the day ahead in U.S. and global markets from Mike Dolan Wall Street's S&P500 looks poised to test 6,000 for the first time as the Federal Reserve underscored a post-election stock surge with its second interest rate cut of the year on Thursday and a nod to more.
Sterling was within striking distance of its highest level in more than 2-1/2 years against the euro on Friday as investors bet the European Central Bank would follow a faster monetary easing path than the Bank of England.
Greek industrial output rose by 2.5% year-on-year in September, after an upwardly revised 3.3% increase in August, data from statistics service ELSTAT showed on Friday. A breakdown of index components showed manufacturing production rose 5.2% from the same month in 2023.
* China unveils steps to tackle 'hidden' debt of local governments. * Treasury yields sag as Fed signals careful, patient easing path. * Global stocks hit all-time high after records on Wall Street. By Dhara Ranasinghe and Kevin Buckland.
The S&P 500 briefly surpassed the 6,000 mark and closed with its biggest weekly percentage gain in a year, as Donald Trump's election victory and a possible Republican Party sweep in Congress fueled expectations for favorable business policies. Also supporting stocks this week was a widely expected interest rate cut of 25 basis points by the Federal Reserve on Thursday.
* Futures up: Dow 0.05%, S&P 500 0.09%, Nasdaq 0.06% Futures tracking the benchmark S&P 500 were trading above the 6,000-point mark on Friday, with equity markets set for an upbeat end to an action-packed week that saw Donald Trump recapture the U.S. presidency and the Federal Reserve cut rates.
Turkish Central Bank Governor Fatih Karahan said on Friday that it was difficult to say when Turkey's rate cut cycle would start and that policy would be determined by the data. Speaking in Ankara, Karahan said the central bank would not take any step to disrupt the disinflation process or undermine confidence in the lira when the rate cut cycle begins.
* China's car sales rise 11.2% in Oct, fastest since Jan. * Domestic champion BYD leads the rise. * Rapid growth buoyed by government subsidies. China's passenger vehicle sales jumped 11.2% in October year-on-year, the second straight monthly rise and the fastest growth since January, led by domestic champion BYD as automakers raced to meet annual sales targets.
* Local govts to raise 10 trln yuan for 'hidden' debt swaps. * Measures seen as stabilising, rather than boosting growth. * Finance ministry says more stimulus measures in store. * Analysts say Beijing may be saving ammo for 2nd Trump term. By Kevin Yao and Ellen Zhang.
Malawi's central bank said on Friday that its Monetary Policy Committee had decided to keep its policy rate unchanged at 26.0%. "The MPC noted that while inflation is expected to ease in 2025, there are still risks that could disrupt this outlook.
China's outstanding property loans totalled 52.9 trillion yuan at the end of the third quarter, down 1% from the previous year, the central bank said on Friday, as authorities battle to arrest a property crisis. Outstanding individual mortgage loans came in at 37.56 trillion yuan, down 2.3% on-year at the end of the third quarter, the bank said.
The United States, Britain and Sweden all cut interest rates this week, even as Donald Trump's U.S. election win introduced a fresh element of uncertainty given the threat of higher tariffs. Seven of the 10 big developed-market central banks tracked by Reuters are in easing mode, two are keeping rates higher for longer and one, outlier Japan, is hiking.
China will allow local governments to issue 6 trillion yuan in bonds to swap for off-balance sheet or "hidden" debt over three years, an official said on Friday.
The United States, Britain and Sweden all cut interest rates this week, even as Donald Trump's U.S. election win introduced a fresh element of uncertainty given the threat of higher tariffs. Seven of the 10 big developed-market central banks tracked by Reuters are in easing mode, two are keeping rates higher for longer and one, outlier Japan, is hiking.
Cartier jewellery owner Richemont reported a dip in quarterly sales on Friday, as the luxury goods group largely offset tougher conditions in China with growth elsewhere. The owner of Swiss watchmakers including IWC, Jaeger-LeCoultre and Piaget said sales fell by 1% at constant exchange rates to 4.81 billion euros, slightly above analyst consensus forecasts of 4.78 billion euros cited by HSBC.
* Chinese officials hold briefing Friday after week-long meeting. * Treasury yields sag as Fed signals careful, patient easing path. * Global stocks hit all-time high after records on Wall Street. By Kevin Buckland.
Prospects of a near-term rebound in the $28-trillion U.S. government bond market are faltering, as Donald Trump's return to the White House is expected to usher in fiscally expansive policies that could temper the extent of the Federal Reserve's future rate cuts.
Indonesia's new leader Prabowo Subianto set off for China on Friday for his first international trip as president, kicking off a tour that will include stops in the United States, Britain, and South America for the APEC and G20 summits.
The U.S. S&P 500 zoomed past 6,000 points on Friday to a new record while Treasury yields retreated, as investors again cheered Donald Trump's decisive victory, although disappointment about China's latest fiscal support dampened the mood elsewhere.
The Federal Reserve cut interest rates by 0.25 percentage points on Thursday, bringing the federal funds rate to 4.5%-4.75%, its lowest since February 2023.
* Fed's Powell says won't "guess" Trump policies. * US Treasury yields, dollar pulled back from multi-month peaks. * S&P 500, Nasdaq pushed to all-time highs, Dow held steady. * World equities index at record peak, on track for 3.3% weekly advance. * Chinese equities buoyant as stimulus hopes counter Trump tariff threat. By Kevin Buckland.
The Hong Kong Monetary Authority on Friday cut by 25 basis points its base rate charged via the overnight discount window, to 5.0%, tracking a move by the U.S. Federal Reserve. Major Hong Kong banks followed with HSBC cutting its Hong Kong dollar best lending rate by 25 basis points and Bank of China also cutting its Hong Kong dollar prime rate by the same magnitude.
The following are the top stories in the Financial Times. Headlines. - BlackRock (BLK) in talks to take minority stake in Millennium. - Citi revamps pay for wealth bankers. - Goldman Sachs (GS) names biggest partner class since 2010. - Federal Reserve cuts interest rates as Jay Powell says he will not resign as chair. Overview.
Japanese household spending fell in September for the second straight month, government data showed on Friday, as higher prices choked consumers' appetite in a discouraging sign for the central bank's plans to hike rates further. Consumer spending fell 1.1% from the year earlier, against the median market forecast for a 2.1% decline.
Japanese household spending fell in September for the second straight month, government data showed on Friday, as higher prices choked consumers' appetite in a discouraging sign for the central bank's plans to hike rates further. Consumer spending fell 1.1% from the year earlier, against the median market forecast for a 2.1% decline.
Peru's central bank trimmed the nation's benchmark interest rate to 5% on Thursday, matching analysts' expectations of a 25-basis-point cut. Peru has one of Latin America's lowest benchmark interest rates, and the central bank said in a statement that future rate changes will depend on inflation data and its determinants.
Federal National Mortgage Association (FNMA) : * FANNIE MAE APPOINTS FORMER HOMEBUILDING INDUSTRY EXECUTIVE SCOTT D. STOWELL TO ITS BOARD OF DIRECTORS Source text: Further company coverage:
Peru's central bank trimmed the benchmark interest rate to 5% on Thursday, matching analysts' expectations of a 25-basis-point cut. Peru has one of Latin America's lowest benchmark interest rates, and the central bank said in a statement that future rate changes will depend on inflation data and its determinants.
The recent surge in U.S. Treasury yields has less to do with a concern in the bond market over inflation risks arising from an aggressive fiscal agenda from President-elect Donald Trump than they do about expectations for stronger growth ahead, Federal Reserve Chair Jerome Powell said on Thursday, but central bank officials will keep a close eye for any change in that dynamic.
- Federal Reserve Chair Jerome Powell on Thursday said he would not resign if asked to do so by President-elect Donald Trump, and said presidents do not have the legal authority to remove a U.S. central bank chief. That said, Powell's term as chair expires in May 2026, and Trump will have an opportunity to install a new Fed chief then.
Federal Reserve Chair Jerome Powell on Thursday said he would not
resign if asked to do so by President-elect Donald Trump, and said presidents do not have the
legal authority to remove a U.S.
- Federal Reserve Chair Jerome Powell said on Thursday he would refuse to leave office early if incoming President Donald Trump tried to oust him, adding he cannot be legally removed anyway.
AM Best has removed from under review with developing implications and upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to ?a-? from ?bbb+? of Merit Life Insurance Co.. The outlook assigned to these Credit Ratings is stable.
* * Powell said law won't permit Trump to fire Fed officials. * Fed could face challenges dealing with inflationary Trump agenda. By Michael S. Derby. Federal Reserve Chair Jerome Powell said on Thursday he would refuse to leave office early if incoming President Donald Trump tried to oust him, adding he cannot be legally removed anyway.
On October 23, 2024, Moody?s downgraded the long-term ratings of The Toronto-Dominion Bank (MLWIQXX) and its U.S. subsidiaries in response to the company?s guilty plea earlier in the month to having engaged in a conspiracy to commit money laundering and agreement to pay a $3 billion fine.
NEW YORK, Nov. 7, 2024 Bramshill Investments is excited to announce industry recognition of our Securitized Products team and the Bramshill Multi-Strategy Income Fund. "We are highly honored that HFM has recognized all of our hard work with this industry wide 40 Act award. Please find With Intelligence's "HFM US Performance Awards 2024" winners here.
Diversity coalition report shows economic impact of spending with minority-owned, women-owned, veteran-owned, and small business enterprises A study commissioned by the Illinois Utilities Business Diversity Council revealed that goods and services purchased by Illinois utilities from minority-owned, women-owned, veteran-owned, and small business suppliers in 2023 contributed $3.5 billion to the...
Nashville, Tennessee, voters approved a $2 billion bond measure, while Lancaster County, South Carolina, and Cary, North Carolina, opposed the bond referendums.
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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