A look at the day ahead in European and global markets from Wayne Cole. It's been a relatively calm start to the week for markets with the early action in currencies, as the dollar nudged up on the yen after Bank of Japan Governor Kazuo Ueda again left investors guessing on the timing of rate hikes.
* Dollar holds near one-year high as yields support. * BOJ Gov flags gradual hikes, but vague on timing. * Host of Fed, ECB officials to speak this week. By Wayne Cole. The dollar rose against the yen on Monday after Japan's top central banker flagged further policy tightening ahead but left open the question of timing, leaving the market no clearer on whether a move would come next month.
Leaders from the Group of 20 major economies on Monday discussed proposals to reduce poverty, support developing nations and reform global institutions to give more voice to the "Global South" as they braced for whiplash from U.S. foreign policy.
Bank of Japan Governor Kazuo Ueda said the economy was progressing towards sustained wages-driven inflation and warned against keeping borrowing costs too low, leaving open the chance of another interest rate hike as early as next month.
Global shares rose on Monday while the U.S. dollar fell but still traded near one-year highs as traders pared expectations of future interest-rate cuts by the Federal Reserve. President-elect Donald Trump has begun making appointments, filling health and defense roles last week, but key positions for financial markets, Treasury secretary and trade representative have yet to be filled.
Global shares rose on Monday while the U.S. dollar fell but still traded near one-year highs as traders pared expectations of future interest-rate cuts by the Federal Reserve. President-elect Donald Trump has begun making appointments, filling health and defense roles last week, but key positions for financial markets, Treasury secretary and trade representative have yet to be filled.
* BOJ's Ueda says conditions for rate hikes gradually in place. * Nvidia (NVDA) earnings, Fed speakers among the week's highlights. * Dollar, Treasury yields supported by revised Fed outlook. By Rae Wee.
* Timing of rate hike to depend on economic outlook, Gov Ueda says. * Ueda warns over demerits of keeping real rates low for too long. * BOJ won't hold off on rate hike until all uncertainties clear. * Ueda upbeat on consumption, wages but wary of external risks. By Leika Kihara.
The dollar rose against the yen on Monday to resume its recent ascent after Japan's top central bank official signaled further monetary policy tightening was on the horizon, but was vague on the timing of any such hike.
* Dollar holds near one-year high as yields support. * BOJ Gov flags gradual hikes, but vague on timing. * Host of Fed, ECB officials to speak this week. By Wayne Cole. The dollar rose against the yen on Monday after Japan's top central banker flagged further policy tightening ahead but left open the question of timing, leaving the market no clearer on whether a move would come next month.
Bank of Japan Governor Kazuo Ueda said on Monday the central bank will keep raising interest rates if economic and price developments move in line with its forecasts.
China's biggest e-commerce company Alibaba Group (BABA) is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter. The company confirmed plans for bond fundraising in a regulatory filing on Monday but said the size, interest rate and maturity would be determined as the transaction progressed.
China's biggest e-commerce company Alibaba Group (BABA) is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter. The company confirmed plans for bond fundraising in a regulatory filing on Monday but said the size, interest rate and maturity would be determined as the transaction progressed.
BEIJING, Nov. 17, 2024 Brazil officially assumed the one-year presidency of the G20 in December 2023, with the motto "Building a just world and a sustainable planet." Over recent years, the two nations have strengthened cooperation across various sectors, including renewable energy, space technology and sustainable agriculture, working together to promote environmental and economic sustainability.
Alibaba Group Holding Limited (BABA) (NYSE: BABA and HKEX: 9988 and 89988, ?Alibaba,? ?Alibaba Group? or the ?Company?) () today announced that it proposes to concurrently offer U.S. dollar-denominated senior unsecured notes and RMB-denominated senior unsecured notes, subject to market and other conditions.
The dollar was looking to extend its bull run on Monday as lofty Treasury yields and a more restrained outlook for U.S. rate cuts burnished its attractiveness, though the risk of intervention had caused a pullback against the yen.
* Dollar holds near one-year high as yields support. * Markets await BOJ Gov speech, conference from 0100 GMT. * Host of Fed, ECB speakers due this week. By Wayne Cole. The dollar was looking to extend its bull run on Monday as lofty Treasury yields and a more restrained outlook for U.S. rate cuts burnished its attractiveness, though the risk of intervention had caused a pullback against the yen.
- A look at the day ahead in Asian markets. Asian markets could be in for a rocky ride on Monday, as rising U.S. bond yields, a surging dollar and a wobble on Wall Street on Friday call into question the wisdom of buying local assets. Fed Chair Jerome Powell's comments on Thursday - that the central bank is in no rush to lower interest rates - continue to reverberate around world markets.
A look at the day ahead in Asian markets. Asian markets could be in for a rocky ride on Monday, as rising U.S. bond yields, a surging dollar and a wobble on Wall Street on Friday call into question the wisdom of buying local assets. Fed Chair Jerome Powell's comments on Thursday - that the central bank is in no rush to lower interest rates - continue to reverberate around world markets.
Diplomatic tensions over global warming spilled over into the G20 summit negotiations in Brazil this week, with sources saying the 20 major economies reached a fragile consensus on climate finance that had eluded U.N. talks in Azerbaijan.
The Philippine central bank announced the launch on Monday of an interest rate swaps market anchored to a newly established benchmark rate to enhance bond market trading and liquidity.
Today, on the margins of the G20, a group of public and private sector leaders launched the Brazil Restoration & Bioeconomy Finance Coalition to accelerate the conservation and restoration of Brazil?s forests, with a targeted, aggregate investment of at least $10 billion by 2030 among all Coalition members.
Diplomatic tensions over global warming will take center stage at the G20 summit in Brazil this week, as negotiators at U.N. talks in Azerbaijan hit an impasse on climate finance that they hope leaders of the world's 20 major economies can break.
Joe Biden became the first sitting U.S. president to visit the Amazon rainforest on Sunday, flagging the dangers of global warming often dismissed by Donald Trump, who enters the White House in January vowing to scrap measures to fight climate change.
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.
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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