BEIJING, Nov. 16, 2024 Over the decades, the Asia-Pacific region has been a vital driver of global economic growth. At the same time, Asia-Pacific cooperation is confronted with challenges such as rising tendencies of geopolitics, unilateralism and protectionism.
Australia Prime Minister Anthony Albanese said his relationship with U.S. President-elect Donald Trump has had a "very good beginning", elaborating on a phone call between the pair after the Republican's U.S. election win. Albanese this week said he told Trump on the call that the United States has a trade surplus with Australia and it was in Washington's interest to "trade fairly" with its ally.
Australia Prime Minister Anthony Albanese said his relationship with U.S. President-elect Donald Trump has had a "very good beginning", elaborating on a phone call between the pair after the Republican's U.S. election win. Albanese this week said he told Trump on the call that the United States has a trade surplus with Australia and it was in Washington's interest to "trade fairly" with its ally.
Goldman Sachs Research predicts a strong year for global economic growth in 2025, forecasting a 2.7% increase in global GDP on an annual average basis, just above the consensus. The US is expected to lead the way, with GDP growth of 2.5%, significantly surpassing the consensus of 1.9%, Goldman Sachs Research said in a report.
BEIJING, Nov. 16, 2024 Chinese President?Xi Jinping's written speech at the APEC CEO Summit in Lima, Peru on Friday, in which he called for jointly promoting a universally beneficial and inclusive economic globalization, boosted confidence and opened the door further for cooperation, Chinese and foreign business leaders said.
The U.N.'s climate chief called on leaders of the world's biggest economies on Saturday to send a signal of support for global climate finance efforts when they meet in Rio de Janeiro next week, to help trigger a deal at COP29 talks.
The U.N.'s climate chief called on leaders of the world's biggest economies on Saturday to send a signal of support for global climate finance efforts when they meet in Rio de Janeiro next week, to help trigger a deal at COP29 talks.
BEIJING, Nov. 15, 2024 As the world confronts intertwined challenges of economic inequality, environmental sustainability, and social justice, global collaboration is essential. David Ferguson stressed the value of inclusive dialogue within platforms like the G20. In the TED-style segment, speakers presented innovative strategies for sustainability.
Federal Reserve Bank of Boston President Susan Collins said on Friday that uncertainty over the economic outlook limits what kind of guidance can be given about the outlook for monetary policy.
- Fitch Ratings on Friday downgraded the long-term credit rating of Spirit Airlines (SAVE) to 'CC' from 'CCC', bringing it below the low-cost carrier's North America peers and warning that a near-term default appears probable. Earlier this week, the carrier said that it was in talks with creditors and was continuing to explore strategic alternatives to improve liquidity.
Fitch Ratings on Friday downgraded the long-term credit rating of Spirit Airlines (SAVE) to 'CC' from 'CCC', bringing it below the low-cost carrier's North America peers and warning that a near-term default appears probable. Earlier this week, the carrier said that it was in talks with creditors and was continuing to explore strategic alternatives to improve liquidity.
KBRA assigns a rating of BBB- to BlackRock Private Credit Fund's $125 million senior unsecured notes due in 2027 and 2030. Key Credit Considerations The rating and Stable Outlook are supported by BDEBT?s ties to BlackRock (BLK), Inc.?s $10.5 trillion assets under management, making BLK one of the largest investment platforms in the world.
Spirit Airlines Inc (SAVE): * FITCH DOWNGRADES SPIRIT AIRLINES TO 'CC' * FITCH ON SPIRIT AIRLINES: REFINANCING EFFORTS HAVE BEEN HAMPERED BY ONGOING OPERATING LOSSES AND CASH OUTFLOWS. * FITCH ON SPIRIT AIRLINES: A NEAR-TERM DEFAULT NOW APPEARS PROBABLE. * FITCH ON SPIRIT AIRLINES: UNCERTAINTY ALSO DRIVES COMPLEXITY INTO NETWORK PLANNING AND HIRING DECISIONS FOR YEAR.
S&P Global Ratings revised Ireland's outlook to "positive" from "stable" on Friday, citing extraordinary overperformance in corporate tax receipt collections, while peer agency Fitch affirmed its ratings at "AA" with a "stable" outlook.
* MSCI index down for fourth-straight session. * Dollar slips but poised for weekly gain. * US retail sales slightly above expectations. By Chuck Mikolajczak.
As headline risk swirls around the Fed and the transition to the Trump administration, municipals have largely stayed in their own lane. November finds the municipal market "in far better technical shape, with an attractive backdrop through at least year-end," J.P. Morgan's Peter DeGroot said.?
* US retail sales rise more than expected. * US import prices advance unexpectedly. * US yield curve steepens. * US 10-year yield hits highest since late May. By Gertrude Chavez-Dreyfuss.
* TSX ends down 0.6% * Pulls back from record closing high. * For the week, the index adds 0.5% * Energy falls 1.2%; oil settles 2.5% lower. By Fergal Smith. Canada's main stock index posted broad-based declines on Friday as the prospect of a slower pace of Federal Reserve interest rate cuts spurred investors to take some profits on gains made since the U.S. presidential election.
S&P Global Ratings revised Ireland's outlook to "positive" from "stable" on Friday, citing extraordinary fiscal overperformance, sustained economic growth and external resilience of the country's economy.
* Strong data may slow policy path. * Investors trim odds for a December cut. * Fed's Goolsbee sees 125 bps of rate cuts through 2025. * Several Fed policymakers lean into slower rate-cut pace. By Howard Schneider.
Fitch: * FITCH UPGRADES ARGENTINA TO 'CCC' * FITCH: DOLLAR INFLOWS HAVE BEGUN TO LIFT ARGENTINA'S INTERNATIONAL RESERVES & SHOULD CONTINUE TO DO. * FITCH: ARGENTINA'S UPGRADE ON CONFIDENCE IN ABILITY TO MAKE FOREIGN-CURRENCY BOND PAYMENTS WITHOUT SEEKING RELIEF Source text:
* Retail sales rise 0.4% in October, above forecasts. * Indexes on track for weekly losses. * Vaccine makers, packaged food cos fall after RFK Jr. appointment. * Applied Materials (AMAT) down after Q1 rev forecast misses estimates. * Indexes down: Dow 0.73%, S&P 500 1.41%, Nasdaq 2.36% By Sin?ad Carew and Lisa Pauline Mattackal.
* Dollar heads for strongest week since September. * Pound sags after data shows UK economy slowed. * Trump plans on taxes, tariffs hit trade partner currencies. * Bitcoin trades around $90,000. By Chibuike Oguh and Amanda Cooper.
* MSCI index down for fourth straight session. * Dollar slips but poised for weekly gain. * US retail sales slightly above expectations. By Chuck Mikolajczak.
- Federal Reserve Bank of Chicago President Austan Goolsbee on Friday signaled he feels the U.S. central bank will likely end up cutting the policy rate by another quarter of a percentage point this year and a full percentage point further next year, as Fed policymakers projected in September .?. "I think we are going to be looking at rates coming down over the next year along the line the dot-...
* Retail sales rise 0.4% in October, above forecasts. * Indexes on track for weekly losses. * Vaccine makers, packaged food cos fall after RFK Jr. appointment. * Applied Materials (AMAT) down after forecasting Q1 revenue below estimates. * Indexes down: Dow 0.72%, S&P 500 1.23%, Nasdaq 2.03% By Lisa Pauline Mattackal and Purvi Agarwal.
The British economy expanded less than forecast in the third quarter as the service sector and budget concerns slowed momentum. Gross domestic product grew by 0.1% for the quarter, compared with growth of 0.5% in Q2, data from the Office for National Statistics showed on Friday.
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of ?a? of Tokio Marine HCC Mexico Compa??a Afianzadora, S.A. de C.V.. Concurrently, AM Best has affirmed the Mexico National Scale Rating of ?aaa.MX? of TMHCC Mexico.
The Chicago City Council delivered a strong rebuke of Mayor Brandon Johnson's fiscal 2025 budget on Thursday, rejecting a $300 million property tax increase.
Mexico's government projected a deficit for next year of 3.9% of gross domestic product and forecast economic growth of between 2% and 3%, Finance Minister Rogelio Ramirez de la O said on Friday. Ramirez de la O, presenting the administration's budget proposal, said spending would look for growth while prioritizing social programs.
Strong U.S. economic and inflation data on Friday continued reshaping the debate among Federal Reserve policymakers over the pace and extent of interest rate cuts as investors further downgraded their expectations for a rate reduction at the central bank's December meeting.
Strong U.S. economic and inflation data continue to reshape the debate among Federal Reserve policymakers over the pace and extent of interest rate cuts as investors on Friday further downgraded their expectations for a rate reduction at the central bank's December meeting.
Federal Reserve Bank of Boston President Susan Collins said Friday she wants to see more data before deciding whether the central bank should cut rates again at its policy meeting next month.
With Donald Trump's imminent return to the U.S. presidency looming over the Asia-Pacific Economic Cooperation summit in Lima, Chinese President Xi Jinping said on Friday that unilateralism and protectionism needed to be rejected in favour of economic globalization. Xi's critique of protectionism at APEC offers a preview of how China will seek to position itself once Trump takes office in January.
* 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 Chibuike Oguh and Amanda Cooper.
Canada's main stock index fell on Friday amid broader losses led by technology shares, while markets assessed Federal Reserve Chair Jerome Powell's comments urging a cautious approach towards U.S. interest-rate cuts going forward. The S&P/TSX composite index was down 88.69 points, or 0.42%, at 24,962.98, set to snap its four-day gaining streak. However, the TSX was headed for weekly gains.
* MSCI index down for fourth straight session. * Dollar slips but poised for weekly gain. * US retail sales slightly above expectations. By Chuck Mikolajczak. 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.
Federal Reserve Bank of Boston President Susan Collins said Friday she wants to see more data before deciding whether the central bank should cut rates again at its policy meeting next month.
The Florida Bankers Association and Federal Home Loan Bank of Atlanta are hosting an inaugural Affordable Housing Summit in Miami today, bringing bank, business, and civic leaders together to discuss affordable housing solutions in the state. ?Affordable housing is essential for Florida?s continued economic vitality,? said Kathy Kraninger, President & CEO of the FBA.
U.S. industrial production fell for a second straight month in October, continuing to be depressed by hurricanes and a strike by factory workers at Boeing (BA), but a rebound is likely in November as the drag from these factors lifts. Industrial output dropped 0.3% last month after a downwardly revised 0.5% decline in September, the Federal Reserve said on Friday.
* US retail sales rise more than expected. * US import prices advance unexpectedly. * US yield curve steepens. * US 10-year yield hits highest since late May. By Gertrude Chavez-Dreyfuss.
By RoboForex Analytical Department EURUSD plunged to a six-month low of 1.0543 on Friday amid strong support for the US dollar following the US presidential election and recent comments from Federal Reserve officials.
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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