* Some see Bessent as less negative for a trade war- analyst. * Market sees 56% chance of 25 bps Fed rate cut in December. * Fed's Nov FOMC meeting minutes, GDP data, core PCE due this week. By Rahul Paswan.
Donald Trump?s Treasury Secretary pick Scott Bessent?envisions a significant ?global economic reordering? and aims to play a role in this transformation. What Happened:?In his first interview since Trump made the announcement, Bessent outlined his policy priorities, focusing on fulfilling tax-cut promises made by?Trump.
Treasuries rallied in London trade on Monday as bond investors cheered the selection of fund manager Scott Bessent as a candidate for U.S. Treasury secretary, reckoning on a steady hand on government finances. Bessent is seen as a voice for markets in incoming U.S. President Donald Trump's administration and as a fiscal conservative who would keep a leash on U.S. deficits.
Euro area government bond yields fell on Monday as U.S. yields dropped after President-elect Donald Trump picked fund manager Scott Bessent as U.S. Treasury secretary, who is expected to keep a leash on U.S. debt.
The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the ?Greed? zone on Friday. U.S. stocks settled higher on Friday, with the Dow Jones index closing at a fresh record level during the session.
Japan's 10-year government bond yield slipped on Monday, tracking U.S. Treasury bond yield declines following the selection of fund manager Scott Bessent as the next U.S. Treasury secretary.
Treasuries rallied in the Asian session on Monday as bond investors cheered the selection of Scott Bessent as U.S. Treasury secretary, reckoning on a steady hand on government finances. A fund manager, Bessent is seen as a voice for markets in incoming U.S. President Donald Trump's administration and as a fiscal conservative likely to want to keep a leash on U.S. deficits.
* Inflation surprise may prompt December rate hold, says analyst. * Market sees 51% chance of 25-bp Fed rate cut in December. * Fed's Nov meeting minutes, GDP data, core PCE due this week. By Daksh Grover.
Gold prices ticked higher on Monday, nearing a three-week high, supported by a weaker U.S. dollar and safe-haven demand amid rising geopolitical tensions, as investors awaited more data to gauge the U.S. Federal Reserve's policy outlook. FUNDAMENTALS. * Spot gold rose 0.2% to $2,719.19 per ounce as of 0014 GMT and was set for its sixth consecutive session of gains.
The dollar backpedaled from two-year highs on Monday, while U.S. Treasury markets cheered Donald Trump's pick of hedge fund manager Scott Bessent for the U.S. Treasury secretary, trusting he will be more fiscally disciplined than investors had been fearing.
* Treasuries rally as investors see Bessent as fiscal hawk. * Dollar eases from two-year high, due some consolidation. * Market sees more policy easing from ECB, less from Fed. By Wayne Cole.
A look at the day ahead in Asian markets. America's divergence with the rest of the world - manifested in the strength of the U.S. dollar, the relentless rally on Wall Street and the significant rise in Treasury yields - is becoming more entrenched by the week. The dollar has risen eight weeks in a row and on Friday hit a two-year high.
A two-notch upgrade of Cyprus' debt by Moody's is a vote of confidence in the island's economy, the country's president said on Saturday. Moody's upgraded Cyprus' long-term issuer and senior unsecured ratings to A3 from Baa2, citing a "material improvement" in fiscal and debt metrics that the rating agency expected to be sustained.
* Cambodia plans canal costing nearly 4% of GDP. * Cambodian govt has announced varying levels of Chinese support. * China expressed misgivings, put no money on table, sources say. * Chinese public investment in Cambodia is plunging, tourism down. * China says it has 'ironclad' friendship with Cambodia. By Francesco Guarascio.
AM Best has upgraded the Financial Strength Rating to B++ from B+ and the Long-Term Issuer Credit Rating to ?bbb+? from ?bbb-? of Investors Life Insurance Company of North America. The ratings reflect ILICNA?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
Supply has "declined materially, allowing dealers to take a breather, with their inventories dropping significantly, while retail investors do not seem to be spooked by rate volatility, lower taxes and possible threats to the tax-exempts, and continued putting money into tax-exempts at a brisk pace," said Mikhail Foux, managing director and head municipal research and strategy at Barclays.
President-elect Donald Trump may have campaigned hard against high inflation, but by the time of his Nov. 5 election victory financial professionals had moved on from rising prices and begun worrying about rising U.S. debt, possible recession, and risks to global trade as among the top threats to the stability of the financial sector, according to a new Federal Reserve survey released on Friday.
President-elect Donald Trump may have campaigned hard against high inflation, but by the time of his Nov. 5 election victory financial professionals had moved on from rising prices and begun worrying about rising U.S. debt, possible recession, and risks to global trade as among the top threats to the stability of the financial sector, according to a new Federal Reserve survey released on Friday.
AM Best has assigned a Long-Term Issue Credit Rating of ?bbb+? to the recently issued CAD 450 million, 4.73% senior unsecured notes, due November 2034, and CAD 250 million, 5.23% senior unsecured notes, due November 2054, of Fairfax Financial Holdings Limited (FRFHF) [TSX: FFH]. The outlook assigned to these Credit Ratings is positive.
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of RF&G Insurance Company Limited . The outlook assigned to these Credit Ratings is stable.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa? of Knights of Columbus. The ratings reflect the Order?s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
Longer-dated U.S. Treasury yields slipped on Friday as investors awaited fresh data that will offer further clues on Federal Reserve policy and continued to assess how the policies of the Donald Trump administration will affect the economy next year. The next major clues on the economy will be November's jobs and inflation data due in early December.
* Fed's 2% inflation goal is not a focus of review. * Communication, forward-guidance strategy may be discussed. * Central bank's current framework was approved in 2020. By Howard Schneider. The U.S. Federal Reserve on Friday announced plans for a May 15-16 conference and public "Fed Listens" events around the country as part of a review of its long-run strategy and approach to policymaking.
AM Best has affirmed the Long-Term Issuer Credit Rating of ?bbb+? and the Long-Term Issue Credit Ratings of Markel Group Inc.. AM Best also has affirmed the Financial Strength Rating of A and the Long-Term ICRs of ?a+? of all the members of the Markel North America Insurance Group.
The U.S. Federal Reserve on Friday announced plans for a May 15-16 conference and public "Fed Listens" events around the country as part of a review of its long-run strategy and approach to policymaking.
The U.S. Federal Reserve on Friday announced plans for a May 15-16 conference and public "Fed Listens" events around the country as part of a review of its long-run strategy and approach to policymaking.
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* Mexico's inflation undershoots forecasts in early November, signaling potential rate cuts. * Banxico may continue rate cuts as inflation trends downward, according to central bank head. * Economy growth exceeds forecasts, but faces uncertainty in the future. * By Natalia Siniawski.
AM Best has downgraded the Long-Term Issuer Credit Rating to ?bbb? from ?bbb+? and affirmed the Financial Strength Rating of B++ of Gleaner Life Insurance Society. The ratings reflect Gleaner?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, neutral business profile and marginal enterprise risk management.
- U.S. consumer sentiment ticked up for a fourth straight month in November, led by a big upswing in sentiment among Republicans following Donald Trump's victory in the presidential election. The University of Michigan's Consumer Sentiment Index climbed to 71.8 this month, the highest since April, from 70.5 in October.
- U.S. consumer sentiment ticked up for a fourth straight month in November, led by a big upswing in sentiment among Republicans following Donald Trump's victory in the presidential election. The University of Michigan's Consumer Sentiment Index climbed to 71.8 this month, the highest since April, from 70.5 in October.
* Euro zone services activity contracted in November. * British PMI data also weak. * Euro falls below $1.04. * Bitcoin touches record, not far off $100,000. 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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