* Manufacturing PMI increases to 48.4 in November. * New orders gauge above 50 for the first time in eight months. * Potential tariffs on Chinese imports worry manufacturers. * Construction spending increases 0.4% in October. By Lucia Mutikani.
U.S. Treasury yields rose on Monday as data showed manufacturing activity improved in November, with orders growing for the first time in eight months and factories facing significantly lower prices for inputs. The yield on the benchmark U.S. 10-year Treasury note rose 2.7 basis points to 4.221%, paring back an earlier sharper rise.
Greystone, a leading national commercial real estate finance company, announced it has assisted Webster Bank N.A. in completing a $303 million Freddie Mac Q-Series securitization. The transaction was led on behalf of Webster Bank by Greystone?s Structured Products Group, including Leena Amin, Senior Managing Director; Greg Darling, Managing Director; and Directors Max Garelick and Scott Fuller.
The U.S. manufacturing sector showed signs of improvement in November, yet it failed to avoid another month of contractionary conditions. The Manufacturing Purchasing Managers? Index rose from October?s 46.5% to 48.4% in November, exceeding analyst expectations of 47.5%, as tracked by TradingEconomics.
* Dollar up 0.7%, set for it best day in nearly 4 weeks. * Expect choppy, consolidative gold market into year-end - analyst. * Most brokerages see 25-bps rate cut in December. * US ADP employment report, non-farm payrolls due this week. By Sherin Elizabeth Varghese.
U.S. construction spending increased more than expected in October, boosted by single-family homebuilding. The Commerce Department's Census Bureau said on Monday construction spending rose 0.4% after an unrevised 0.1% gain in September.
U.S. construction spending increased more than expected in October, boosted by single-family homebuilding. The Commerce Department's Census Bureau said on Monday construction spending rose 0.4% after an unrevised 0.1% gain in September.
Brazil's incoming central bank chief said on Monday that the current scenario points to "higher interest rates for longer," while also emphasizing continued exchange rate policy focused on intervening only during times of dysfunction.
Shares of Toast Inc (TOST) added more than 40% in November, after the company reported strong third-quarter results. Although the Boston-based company is among the "best share gainers in the payments space," its stock has risen more than 135% year to date, according to Goldman Sachs. Analyst Will Nance downgraded the rating for Toast from Buy to Neutral, while raising the price target to $45.
* Manufacturing PMI increases to 48.4 in November. * New orders gauge rises above 50 for the first time in eight months. By Lucia Mutikani. U.S. manufacturing activity improved in November, with orders growing for the first time in eight months and factories facing significantly lower prices for inputs.
New Orders Growing and Backlogs Contracting; Production and Employment Contracting; Supplier Deliveries Faster; Raw Materials Inventories Contracting; Customers' Inventories Too Low; Prices Increasing; Exports and Imports Contracting. TEMPE, Ariz.
Canadian manufacturing activity increased at the fastest pace in 21 months in November as the Bank of Canada's interest-rate cutting campaign boosted domestic demand and despite port strikes that worsened delivery delays, data showed on Monday.
MINNEAPOLIS, Dec. 2, 2024 Xcel Energy Inc. (XEL) announced today the commencement of offers to purchase for cash up to $110,000,000 aggregate principal amount of the outstanding first mortgage bonds issued by Northern States Power Company, a Minnesota corporation, a wholly owned subsidiary of Xcel Energy (XEL), listed in the table below.
NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) today announced monthly dividend distributions of $0.06 per common share for the month of December 2024. Portfolio and municipal market commentary will be published on or around December 2, 2024 and can be retrieved here.
Brazil's incoming central bank chief Gabriel Galipolo said on Monday that the current scenario points to "higher interest rates for longer." Speaking at an event hosted by XP, he said it seemed "logical" for an economy that has been showing greater dynamism and tightness than anticipated, alongside a weaker domestic currency, to "require a more contractionary monetary policy."
Morocco's first futures contracts will be based on the MASI 20 index, which tracks the top 20 firms by market capitalisation, the North African country's bourse regulator said on Monday. The AMMC, together with the central bank and the finance ministry, said last month that the market was ready to launch a derivatives market and a clearing house starting with futures.
Chile's IMACEC economic activity index was up 2.3% in October compared with a year earlier, the central bank said on Monday, slightly below the 2.5% growth expected by economists polled by Reuters. Economic activity in the world's largest copper producer rose 0.4% compared with the previous month, the central bank added.
Core Scientific, Inc. (CORZ), a leader in digital infrastructure for bitcoin mining and high-performance computing, today announced its intention to offer, subject to market and other conditions, $500 million aggregate principal amount of convertible senior notes due 2031 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securitie...
For much of the past 17 years the Federal Reserve has been the central player in U.S. economic policy, throwing multi-trillion-dollar safety nets under the financial system, offering nearly a decade of ultra-cheap money, jumping redlines during the COVID-19 pandemic, and delving more into areas like equity and climate change.
* Futures: Dow down 0.1%, S&P 500 and Nasdaq down 0.2% each. U.S. stock index futures started December lower after recording robust gains last month, with focus on a slate of economic data later this week, including a jobs report, to gauge the Federal Reserve's interest rate path.
Indonesia and Canada on Monday signed a Comprehensive Economic Partnership Agreement that aims to strengthen economic ties between the two G20 members, three years after negotiations began. The agreement will take effect in 2026 and was signed in Jakarta by trade ministers of both countries.
A gauge of British manufacturing activity released on Monday pointed to the sharpest contraction in nine months, as orders from domestic and foreign customers fell and ongoing supply chain disruption pushed up costs.
A gauge of British manufacturing activity released on Monday pointed to the sharpest contraction in nine months, as orders from domestic and foreign customers fell and ongoing supply chain disruption pushed up costs.
Euro zone manufacturing activity fell sharply last month and a further decline in demand likely dashed any hopes for an imminent recovery after the sector had showed some signs of stabilisation in October, a survey showed.
Euro zone manufacturing activity fell sharply last month and a further decline in demand likely dashed any hopes for an imminent recovery after the sector had showed some signs of stabilisation in October, a survey showed.
Falling orders extended a contraction in the Polish and Czech manufacturing sectors in November, surveys showed on Monday, as weakness in Germany kept up pressure. S&P Global's Polish Purchasing Managers' Index slipped to 48.9 in November from 49.2 in October, marking the first drop in five months.
Germany's manufacturing sector remained firmly entrenched in contraction territory in November as firms struggle with weak demand and competitive pressure, highlighting ongoing challenges for Europe's largest economy, a survey showed on Monday. The HCOB Germany Manufacturing Purchasing Managers' Index, compiled by S&P Global, held steady at 43.0, unchanged from October.
Spain's manufacturing sector expanded at a slower pace in November, hindered by the severe floods in the region of Valencia on the eastern coast, a survey showed on Monday, though confidence in future growth remained robust.
Turkish factory activity contracted for the eighth month in a row in November with output and new orders moderating, although the sector showed signs of recovery, a business survey showed on Monday.
- The European Central Bank should make future monetary policy decisions based on upcoming risk rather than the latest economic data, ECB chief economist Philip Lane told the Financial Times in an interview published on Monday.
The European Central Bank should make future monetary policy decisions based on upcoming risk rather than the latest economic data, ECB chief economist Philip Lane told the Financial Times in an interview published on Monday.
Japan's two-year government bond yield hit a 16-year high on Monday as comments from the Bank of Japan's governor drove bets for the central bank to hike interest rates as soon as this month.
The European Central Bank should make future monetary policy decisions that are driven by upcoming risks rather than being backward-looking, ECB chief economist Philip Lane told the Financial Times in an interview published on Monday.
* Dollar braces for payrolls, host of Fed speakers. * Yen off highs, ponder chance of BOJ rate hike. * Euro grapples with French politics, budget risk. By Wayne Cole. The dollar pushed higher again on Monday in what is shaping up to be a critical week for the prospect of U.S. rate cuts, while drawing verbal support from U.S. President-elect Donald Trump.
* European manufacturing activity fell sharply in November. * China's factory activity expands at fastest pace in five months. * Beijing's stimulus aids recovery, but domestic demand still weak. * Trump's proposed tariffs seen posing risks to global trade. By Jonathan Cable.
Singapore's central bank on Monday said it fined U.S. lender JPMorgan Chase (JPM) a civil penalty of S$2.4 million for failing to prevent and detect misconduct committed by its relationship managers.
Australia's central bank said on Monday that risks from non-bank lenders in securitisation are limited as the labour market remained resilient, supporting households and businesses, and the size of the sector remains small overall.
* Q3 capex up 8.1% year-on-year, accelerates from 7.4% gain in Q2. * Corporate recurring profits mark first fall in 7 quarters. * Capex data used to calculate revised GDP. * Preliminary data showed Q3 GDP rose an annualised 0.9% By Makiko Yamazaki.
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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