AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of ?aa+? of the life/health subsidiaries of Delphi Financial Group, Inc.: Reliance Standard Life Insurance Company and First Reliance Standard Life Insurance Company. Concurrently, AM Best has affirmed the Long Term ICR of ?a+? and the Long-Term Issue Credit Rating of ?a-? of DFG.
Wall Street's main indexes opened lower on Friday, after Federal Reserve Chair Jerome Powell said there was no need to rush interest-rate cuts, pushing up bond yields and pressuring rate-sensitive equities.
Federal Reserve Bank of Boston President Susan Collins said Friday the U.S. central bank needs to keep a close watch on technological developments in the financial system. "We must all be attuned to the very real risks and challenges" resulting from technical innovations, Collins said in the text of a speech for an event at her bank.
Blanket trade barriers could do more harm than good and may not even be effective, European Central Bank policymaker Fabio Panetta said on Friday, just as incoming U.S. President Donald Trumps looks to impose tariffs on many, if not most, imports.
NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) today announced the preliminary results of a tender offer. As previously announced, the Fund conducted a tender offer allowing shareholders to offer up to 100% of their shares for repurchase for cash at a price per share equal to 100% of the net asset value per share determined on the date the tender offer expires.
U.S. retail sales increased slightly more than expected in October, but underlying momentum in consumer spending appeared to slow at the start of the fourth quarter. Retail sales rose 0.4% last month after an upwardly revised 0.8% advance in September, the Commerce Department's Census Bureau said on Friday.
Brazil launched the Global Alliance for Hunger and Poverty on Friday at the G20 Summit in Rio, a Brazilian government official said, with an initial 41 participating members pledging to lift 500 million people out of poverty through cash transfers and social protection systems.
-Major brokerages reiterated their view of a 25-basis-point interest-rate cut by the U.S. Federal Reserve in December after U.S. consumer prices for October increased as expected, even as Fed Chair Jerome Powell indicated that there is no need to rush rate cuts given strong U.S. economy.
Redfin reports existing home sales rose 1.6% month over month in October to a seasonally adjusted annual rate of 4,179,346, and are on track to finish this year higher than last year ?Existing home sales rose 1.6% month over month in October?the biggest gain since January 2022?to a seasonally adjusted annual rate of 4,179,346.
* Italy's 10-yr bonds outperform German equivalents this week. * Germany's 2-yr yield at lowest in nearly 3 weeks. * U.S. and European rate differential diverge further. By Medha Singh.
* Fed Chair Powell signals no rush for rate cuts. * Dollar sits near 1-year top, euro struggles. * Asian shares set to end brutal week on steadier note. * Yen bears on alert as Japan issues FX warning. By Naomi Rovnick and Nell Mackenzie.
Futures tied to Canada's main stock index fell on Friday, hurt by crude prices, while markets assessed Federal Reserve Chair Jerome Powell's comments that pointed to fewer U.S. interest-rate cuts next year. December futures on the S&P/TSX index were down 0.17% at 6:05 a.m. ET.
A look at the day ahead in U.S. and global markets from Mike Dolan. Faced with another monthly round of stubborn inflation and uncertainty about fiscal, tariff and immigration policy ahead, the Federal Reserve is getting cagier about the extent of further policy easing.
A look at the day ahead in U.S. and global markets from Mike Dolan. Faced with another monthly round of stubborn inflation and uncertainty about fiscal, tariff and immigration policy ahead, the Federal Reserve is getting cagier about the extent of further policy easing.
A look at the day ahead in U.S. and global markets from Mike Dolan. Faced with another monthly round of stubborn inflation and uncertainty about fiscal, tariff and immigration policy ahead, the Federal Reserve is getting cagier about the extent of further policy easing.
-The Nasdaq and S&P 500 were set for their biggest daily losses in over two weeks on Friday, after Federal Reserve Chair Jerome Powell pointed to a slower pace of interest-rate cuts and investors reacted to cabinet selections by U.S. President-elect Donald Trump.
* Futures down: Dow 0.47%, S&P 500 0.64%, Nasdaq 0.88% U.S. stock index futures fell on Friday after Federal Reserve Chair Jerome Powell said there was no need to reduce interest rates in a hurry, pushing up bond yields and pressuring rate-sensitive equities.
- Federal Reserve Bank of Boston President Susan Collins said in an interview with the Wall Street Journal that another rate cut in December is on the table, but it is not a "done deal". "There's more data that we will see between now and December, and we'll have to continue to weigh what makes sense," Collins was quoted as saying in remarks made on Thursday.
Global equity funds saw the largest weekly net purchases in over a decade in the week to Nov. 13, driven by investor optimism that a decisive second-term mandate for Donald Trump would bolster corporate earnings and fuel U.S. economic growth.
* Dollar heads for strongest week since September. * Pound sags after data shows UK economy slowed. * Trump plans on taxes, tariffs hit trade partner currencies. By Amanda Cooper.
- Citigroup analysts anticipate that emerging market stocks will underperform compared to global peers following Donald Trump's recent victory in the U.S. presidential election, despite China's recent policy initiatives and global economic growth.
The Kremlin on Friday said it was monitoring a rise in interest rates on mortgages but that Russia had taken measures to ensure macroeconomic stability. The Russian central bank raised the key interest rate to 21% last month, the highest level in over 20 years, stating that it aims to curb inflation and citing high inflationary expectations among the population.
German Chancellor Olaf Scholz will hold a meeting with Chinese President Xi Jinping on Tuesday while in Brazil for the Group of 20 leaders' meeting, according to a German government official. The focus of the bilateral meeting will be Ukraine and economic themes, the official told a press briefing in Berlin on Friday.
Euro zone borrowing costs were little changed on Friday, while U.S. Treasury yields marched higher after hawkish remarks from Federal Reserve Chair Jerome Powell bolstered bets on higher-for-longer U.S. interest rates. The euro zone debt market has been struggling for direction since Donald Trump's U.S. election victory earlier this month.
* Brent, US crude futures fall on the week. * China's oil refiners in Oct run 4.6% less crude year-on-year. * Major forecasters indicate slowing global crude demand growth. * Strong US economic data leaves Dec Fed rate cut in the balance. By Georgina McCartney.
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the ?Greed? zone on Thursday. U.S. stocks settled lower on Thursday, with the Dow Jones falling more than 200 points during the session as investors digested recent economic reports.
The dollar was set for its best week in more than a month on Friday, buoyed by expectations of fewer Federal Reserve rate cuts and the view that Donald Trump's policies could further stoke inflation when he assumes office in January.
Japanese government bond yields rose on Friday, as a weak yen raised bets for a Bank of Japan rate hike, while a hawkish turn by the U.S. Federal Reserve chief hurt sentiment.
Synaptics? Incorporated today announced the pricing of its offering of $400.0 million aggregate principal amount of 0.75% convertible senior notes due 2031 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
Japan's core consumer inflation likely cooled for the second straight month in October on slower growth in energy prices, a Reuters poll showed on Friday. The core consumer price index, which includes oil products but excludes fresh food prices, was expected to have risen 2.2% in October from a year earlier, from 2.4% growth in September, a poll of 19 economist showed.
* China's industrial output growth slowed in Oct, misses forecasts. * Retail sales up, boosted by holiday and Singles' Day. * Property sector remains weak, too early to call turn in demand. * Trump win poses threat to China growth, may bring more stimulus. By Kevin Yao, Ethan Wang and Joe Cash.
China's October industrial output grew 5.3% from a year earlier, slowing from September's pace of 5.4%, reflecting concern about confidence and demand woes confronting a sluggish economy and keeping alive calls for even more stimulus. Data released on Friday by the National Bureau of Statistics missed expectations for a rise of 5.6% in a Reuters poll of 43 analysts.
Oil prices settled down more than 2% on Friday as investors fretted about weaker Chinese demand and a potential slowing in the pace of U.S. Federal Reserve interest rate cuts. Brent crude futures settled down $1.52, or 2.09%, to $71.04 a barrel.
China's central bank made its biggest daily cash injection through bond reverse repurchase agreements in open market operations in nearly five years on Friday. The People's Bank of China injected 981 billion yuan worth of seven-day reverse repos, to counteract factors such as maturing medium-term lending facility and tax payments, it said in an online statement.
A gauge of global stocks was poised for its biggest weekly drop in two months while U.S. Treasury yields continued their ascent as economic data and comments from Federal Reserve officials pointed to a slower pace of rate cuts ahead. The U.S. Commerce Department said retail sales rose 0.4% last month after an upwardly revised 0.8% advance in September.
A gauge of global stocks was set for its biggest weekly drop in two months and the 10-year U.S. Treasury yield hit its highest level in 5-1/2 months on Friday as economic data and comments from Federal Reserve officials suggested a slower pace of interest-rate cuts ahead.
The dollar was headed for its best week in more than a month on Friday, buoyed by expectations of fewer Federal Reserve rate cuts and the view that Donald Trump's policies could further stoke inflation when he assumes office in January.
KBRA assigns a long-term rating of AA to the Chicago Transit Authority, IL Sales Tax Receipts Revenue Refunding Bonds Series 2024A. Key Credit Considerations The rating actions reflect the following key credit considerations: Credit Positives. Credit Challenges.
Japan's economy expanded by an annualised 0.9% over the July-September quarter, government data showed on Friday, slowing from the previous three months due to tepid capital spending though an unexpected pickup in consumption added a bright spot.
* Q3 GDP rises annualised 0.9% vs 0.7% forecast. * Consumption picks up to 0.9%, capital expenditure down. * Consumption a surprise but could be one off, says analyst. By Makiko Yamazaki and Satoshi Sugiyama.
Japan's economy expanded an annualised 0.9% in the July-September quarter, government data showed on Friday, compared with a median market forecast for a 0.7% increase. The rise in gross domestic product translated into a quarterly increase of 0.2%, matching the median estimate.
Japan's economy expanded an annualised 0.9% in the July-September quarter, government data showed on Friday, compared with a median market forecast for a 0.7% increase. The rise in gross domestic product translated into a quarterly increase of 0.2%, matching the median estimate.
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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