* Treasury yields jump to highest since July as Trump trade ramps up. * US dollar pushes to more than three-month peak versus yen. * Traders look to inflation data for clues about Fed rate-cut pace. * Crude oil, metals under pressure amid trade war worries. By Kevin Buckland.
A look at the day ahead in European and global markets from Kevin Buckland. The wide-ranging market bets on big fiscal spending, lower taxes and higher tariffs under incoming U.S. President Donald Trump - collectively dubbed "Trump trades" - took a breather on Wednesday while traders' focus shifted back to economic data.
Japan's five-year government bond yield hit a 15-year high on Wednesday as a weaker yen accelerated bets for the Bank of Japan to raise interest rates. The five-year yield rose to 0.685%, its highest level since November 2009, before inching down to 0.68%, up 3 basis points from the previous session.
A look at the day ahead in European and global markets from Kevin Buckland. The wide-ranging market bets on big fiscal spending, lower taxes and higher tariffs under incoming U.S. President Donald Trump - collectively dubbed "Trump trades" - took a breather on Wednesday while traders' focus shifted back to economic data.
Upstart Holdings, Inc. (UPST) today announced the pricing of $425,000,000 aggregate principal amount of Convertible Senior Notes due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended. The notes will be senior, unsecured obligations of Upstart.
A gauge of global stocks fell for a second straight session on Wednesday and longer-dated U.S. Treasury yields rose in choppy trading as investors assessed the latest U.S. inflation data and the path of interest rates from the Federal Reserve. The Labor Department said the consumer price index rose 0.2% for the fourth straight month, in line with expectations of economists polled by Reuters.
A gauge of global stocks fell for a second straight session on Wednesday and longer-dated U.S. Treasury yields rose in choppy trading as investors assessed the latest U.S. inflation data and the path of interest rates from the Federal Reserve. The Labor Department said the consumer price index rose 0.2% for the fourth straight month, in line with expectations of economists polled by Reuters.
* Treasury yields jump to highest since July as Trump trade ramps up. * US dollar pushes to more than three-month peak versus yen. * Traders look to inflation data for clues about Fed rate-cut pace. * Crude oil, metals under pressure amid trade war worries. By Kevin Buckland.
The U.S. dollar advanced to one-year high against major currencies on Wednesday powered by so-called Trump trades and after U.S. inflation for October came in as expected, suggesting the Federal Reserve will continue lowering interest rates.
Mexican law enforcement announced on Tuesday the arrest of a top municipal security official for the assassination of the mayor of the capital of the violence-plagued state of Guerrero. The murder and decapitation of Chilpancingo Mayor Alejandro Arcos shocked the country, coming just days after he took office.
Japan's wholesale inflation accelerated in October as renewed yen falls pushed up import costs for some goods, data showed on Wednesday, complicating the central bank's decision on how soon to raise interest rates.
Australia's Prime Minister Anthony Albanese said he told U.S. president-elect Donald Trump in a phone call the United States has a trade surplus with Australia and it was in Washington's interest to "trade fairly" with its ally. Trump has proposed a 10% tariff on all U.S. imports and a 60% levy on Chinese-made products.
NEW YORK, Nov. 12, 2024 Safehold Inc. (SAFE) today announced that its operating company, Safehold GL Holdings LLC, has priced a public offering of $400 million aggregate principal amount of its 5.650% senior notes due 2035?. The Notes will mature on January 15, 2035. The offering is expected to settle on November 14, 2024, subject to the satisfaction of customary closing conditions.
Credit ratings agencies could downgrade their outlook on Mexico from stable to negative in coming months on the back of a deterioration in economic growth and the political outlook, as well as weakening public finances, Citibanamex said in a research note on Tuesday.
KBRA places the City's G.O. Bond rating on Watch Downgrade and assigns a long-term rating of "A" to the City of Chicago?s General Obligation Bonds, Refunding Series 2024B and Taxable Refunding Series 2024C. Concurrently, KBRA affirms the long-term rating of "A" on the City's outstanding General Obligation Bonds.
KBRA assigns a rating of BBB+ to Blue Owl Capital Corporation's (OBDC) $400 million, 5.95% senior unsecured notes due 2029. Key Credit Considerations The rating is supported by OBDC's ties to the $128.4 billion Blue Owl Credit platform that maintains a strong reputation and leadership position in the $1.7 trillion private credit market.
KBRA assigns a long-term rating of AA- with a Stable Outlook to the City of Chicago Second Lien Wastewater Transmission Revenue Bonds, Refunding Series 2024B. The Second Lien Wastewater bonds are limited obligations of the City of Chicago, payable solely from a second lien on net revenues of the sewer revenue fund.
* Novavax (NVAX) drops 6% on cut to annual revenue forecast. * Honeywell (HON) jumps to record high as Elliott discloses stake. * Tesla ends 5-day rally with 6% drop. * Indexes down: Dow 0.86%, S&P 500 0.29%, Nasdaq 0.09% By Sin?ad Carew and Lisa Pauline Mattackal.
Cruise Economic Contribution Outpacing Global GDP WASHINGTON, Nov. 12, 2024 ?Cruise Lines International Association, the leading voice of the cruise industry, shared highlights from the association's new 2023 Global Economic Impact Study last week at the annual CLIA Cruise Forward conference in Miami.
All financial figures are in Canadian dollars unless otherwise noted Gibson Energy Inc. (GBNXF) announced today that it has closed the previously announced offering of $350 million of 4.45% senior unsecured notes maturing on November 12, 2031. The Notes have been assigned ratings of ?BBB?? by S&P Global Ratings and ?BBB? with a ?Stable? trend by DBRS Morningstar.
- A look at the day ahead in Asian markets. Investors sobered up from post-election euphoria over Republican Donald Trump's victory and took some profits ahead of Wednesday's October U.S. CPI report, which kicks off a calendar thick with U.S. news events markets will be watching the rest of the week.
A look at the day ahead in Asian markets. Investors sobered up from post-election euphoria over Republican Donald Trump's victory and took some profits ahead of Wednesday's October U.S. CPI report, which kicks off a calendar thick with U.S. news events markets will be watching the rest of the week.
Brazil's central bank announced on Tuesday it will offer up to $4 billion in two swap auctions with repurchase agreements on Wednesday morning. The bank said it will hold the auctions at 10:30 a.m. local time on Wednesday, offering in each of them up to $2 billion.
The global economy relies on the ocean, with a value of key ocean assets estimated at USD $24 trillion ? equivalent to 3?5% of global GDP. G20 countries govern nearly half of the world?s coastline and are home to 60% of the world?s population.
Even with some recent bouts of volatility, it appears money market liquidity levels remain robust, a top New York Federal Reserve official said on Tuesday, suggesting the case for the Fed to press on with its balance sheet drawdown can proceed.
NEW YORK, Nov. 12, 2024 W. P. Carey Inc. announced today that it has priced an underwritten public offering of ?600 million aggregate principal amount of 3.700% Senior Notes due 2034. Interest on the Notes will be paid annually on November 19 of each year, beginning on November 19, 2025. The offering of the Notes is expected to settle on November 19, 2024, subject to customary closing conditions.
Met or outperformed each guidance metric Total operating expenses declined 17% year-over-year Credit card portfolio sale complete Corporate debt refinancing expected to close on November 14th SAN CARLOS, Calif., Nov. 12, 2024 -- Oportun Financial Corporation (OPRT) today reported financial results for the third quarter ended September 30, 2024.
Magnolia Oil & Gas Operating LLC and Magnolia Oil & Gas Finance Corp., a subsidiary of Magnolia Operating, announced today the pricing of their previously announced private offering of $400 million in aggregate principal amount of 6.875% senior unsecured notes due 2032.
Major Wall Street indexes closed lower on Tuesday as investors booked some profits from a post-election rally and turned cautious ahead of U.S. economic data due this week. The three major indexes had rallied to record highs since the Nov. 5 U.S. election as investors bet on a boost to equities from President-elect Donald Trump's proposed tax cuts and the prospect of easier regulatory policies.
* US two-year yields hit highest since late July. * US fed fund futures price in fewer Fed cuts in 2025. By Gertrude Chavez-Dreyfuss. U.S. Treasury yields rose on Tuesday as bond investors jumped back into the market after a long weekend, and resumed pricing in President-elect Donald Trump's policies of lower taxes and trade tariffs that are viewed as inflationary.
* Fed's rate cuts have not improved credit demand. * Commercial and industrial loan demand fell significantly. * Consumer credit card and auto loan demand also weakened.
* Novavax (NVAX) drops on cut to annual revenue forecast. * Honeywell (HON) jumps after Elliott discloses stake. * Russell 2000 falls more than 1% * Indexes down: Dow 0.52%, S&P 500 0.10%, Nasdaq 0.02% By Sin?ad Carew and Lisa Pauline Mattackal. Nov 12 - Wall Street's main indexes fell on Tuesday as investors booked profits from post-election gains and awaited U.S. inflation data due in the coming days.
KBRA assigns a long-term rating of AAA to the State of Connecticut Special Tax Obligation Bonds, Transportation Infrastructure Purposes, 2024 Series A and Special Tax Obligation Refunding Bonds, Transportation Infrastructure Purposes, 2024 Series B. KBRA additionally affirms the long-term rating of AAA for the State's outstanding Special Tax Obligation Bonds, Transportation Infrastructure Purpo...
- Minneapolis Federal Reserve Bank President Neel Kashkari said he feels U.S. monetary policy is currently "modestly restrictive," with short-term borrowing costs continuing to slow inflation and the economy, but not by a lot. "The U.S. economy is in a good place," Kashkari said at a Yahoo!
-U.S. banks saw weaker demand for a key category of business loans during the third quarter, while the demand picture for consumer credit card and auto loans also softened, according to a Federal Reserve survey on Tuesday that showed the Fed's pivot to lower interest rates has yet to improve credit demand.
Argentina's monthly inflation rate stood at 2.7% in October, landing below a Reuters poll forecast of 3.0% and down from 3.5% in September, data from the INDEC statistics agency showed on Tuesday. Inflation in the 12 months through September reached 193.0%, among the highest rates in the world, a touch below the poll forecast of 193.9% and slowing from a rate of 209.0% recorded the previous month.
Early Career Talent Receives Meaningful Work Experience TORONTO, Nov. 12, 2024 With the global unemployment rate at 13%?for those aged 15-24,? Geotab continues to step up by providing young people hands-on work experience. The program is designed to help early career talent from universities and colleges begin their journey in the working world.
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to ?a-? from ?bbb+? of Peace Hills General Insurance Company. The ratings reflect Peace Hill?s balance sheet strength, which AM Best assesses as very strong as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
* US two-year yields hit highest since late July. * US fed fund futures price in fewer Fed cuts in 2025. * Republicans win majority of US House seats. By Gertrude Chavez-Dreyfuss.
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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