* * Yen rises to one-month high on growing rate hike wagers. * Dollar eases after cool US inflation revives rate cut hopes. * US earnings kick off with strong showing by banks. By Ankur Banerjee and Sin?ad Carew.
MSCI's global equities gauge rose on Thursday, while Wall Street indexes closed lower and U.S. Treasury yields fell after a mixed bag of economic data and Federal Reserve official comments suggesting more interest rate cuts on the horizon. On Wednesday, U.S. share prices surged after data showed easing in U.S. core inflation.
* BOJ LIKELY TO RAISE RATES NEXT WEEK BARRING MAJOR MARKET ROUT FOLLOWING TRUMP INAUGURATION - BLOOMBERG CITING SEVERAL UNNAMED PEOPLE Source text: https://tinyurl.com/434zamh7 Further company coverage: [ ]
* Yen firms against dollar on possible BOJ rate hikes. * Cooling inflation in U.S. ups chances of Fed rate cuts. * Traders eyeing Trump inauguration and possible tariff orders. By Tom Westbrook. The dollar slipped on Thursday to stand just off recent peaks as cooling U.S. inflation data knocked down bond yields, while the yen hit a one-month high on rising bets on a rate hike in Japan.
Oil prices settled lower on Thursday with Yemen's Houthi militia expected to halt attacks on ships in the Red Sea, and investors weighing strong U.S. retail sales data. Brent crude futures settled down 74 cents, or 0.9%, at $81.29 per barrel, after rising 2.6% in the previous session to their highest price since July 26.
BEIJING, Jan. 15, 2025 China's economy made steady progress in 2024 with the support of robust measures, showcasing its resilience while highlighting its pivotal role in the international economic landscape. One of the most closely watched aspects of the Chinese economy is the strengthening role of domestic demand as a stabilizing force for China's economic growth in 2025.
Gold prices hit more than one-month highs on Thursday in early Asian hours after data showed U.S. core inflation rose less than expected in December, raising hopes that the Federal Reserve could ease interest rates further. FUNDAMENTALS. * Spot gold was flat at $2,695.84 per ounce, as of 0051 GMT, after hitting its highest since Dec. 12 earlier in the session.
* BOK holds interest rate steady at 3.00% * Only seven of 34 economists polled foresaw outcome. * Won recently plunged to 15-year low against U.S. dollar. * Bank sees need for political turmoil to stabilise. * Most board members are open to a near-term rate cut. By Cynthia Kim and Jihoon Lee.
Australian employment sped past forecasts in December although the jobless rate ticked higher as many more people went looking for work - the combination of trends signalling a healthy labour market that leaves alive the chance of a near-term cut in rates.
* December wholesale prices up 3.8% yr/yr, matches f'cast. * Yen-based import prices rise 1.8% yr/yr in December. * Data adds to growing case for BOJ rate hike next week. * Ueda says BOJ to debate whether to raise rates next week. * Markets, analysts ramp up bets of January rate hike. By Leika Kihara.
Redwood Trust, Inc. (RWT) today announced the pricing of an underwritten public offering of $90,000,000 aggregate principal amount of its 9.125% senior notes due 2030.
Rio Tinto on Thursday reported its lowest annual iron ore shipments in two years, partly as heavy rains in Western Australia impacted output in the December quarter, but said the global economy was showing signs of strength. Its fourth-quarter iron ore shipments declined 1%, falling slightly short of market expectations.
Municipals are underperforming USTs month-to-date, with the Bloomberg Municipal Index showing losses of 1.02% versus 0.92% for USTs as of Tuesday, but both are outperforming losses in corporates that are seeing 1.23% losses in January.
* Dollar weaker after CPI print. * Yen appreciates on rising prospect of BOJ hike. * British inflation unexpectedly slows, boosting sterling. * China's yuan holds close to daily downside limit. By Laura Matthews.
* US core inflation rises 0.2%, as expected. * US 10-year yield has largest daily fall in two months. * US 2/10 yield curve flattens after inflation data. * US rate futures price in 38 bps of easing in 2025. By Gertrude Chavez-Dreyfuss.
- A relatively benign U.S. reading on consumer price increases triggered a sharp relief rally in stocks and bonds on Wednesday, but traders and investors warn that markets are likely to remain anxious about the pace of inflation.
* US stocks rise after core inflation up less than forecast. * U.S. Treasury yields fall with dollar. * Oil settles higher with sanction, stockpile draw support. By Sin?ad Carew and Amanda Cooper.
The U.S. economy ended 2024 with a slight to moderate increase in activity and a tick upward in employment, the Federal Reserve said on Wednesday, but businesses flagged a range of concerns about the potential for policies under President-elect Donald Trump to push prices higher.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of RAM Mutual Insurance Company. The ratings reflect RAM?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
Economic activity expanded slightly to moderately across the Federal Reserve?s 12 districts during late November and December, yet concerns over looming changes to U.S. immigration and tariff policies cast a shadow on the future, according to the Fed Beige Book released Wednesday.
-The U.S. economy ended 2024 with a slight to moderate increase in activity and a tick upward in employment, the Federal Reserve said on Wednesday, but businesses flagged a range of concerns about the potential for policies under President-elect Donald Trump to push prices higher.
U.S. economic activity increased slightly to moderately in late November and December, the Federal Reserve said on Wednesday, with employment ticking up and prices rising moderately amid concerns about the potential impact of policies under President-elect Donald Trump.
Pershing Square Capital Management, L.P. will host an X Live broadcast on Thursday, January 16, 2025, at 9:00 AM EST. The broadcast can be accessed here: https://x.com/BillAckman About Pershing Square Capital Management, L.P. Pershing Square Capital Management, L.P., based in New York City, is an SEC-registered investment advisor to investment funds.
-Several major brokerages have tempered their predictions for how much the Federal Reserve will lower interest rates in 2025, if at all, after a surprisingly strong U.S. employment report on Friday pointed to resilient economic growth. At least one brokerage, BofA Global Research, said in a note it thought the easing cycle was over and it was likely the Fed would hold for an extended period.
- U.S. central bankers project more limited interest-rate cuts in 2025 than the full percentage point of reductions they delivered in 2024, given slower progress toward their 2% inflation goal, a still-strong labor market, and a lot of uncertainty over the potential impact of tax cuts, tariffs and other economic policies in Donald Trump's second term as president.
The Goldwater Institute took aim at another Arizona municipality, filing a lawsuit against tax rate hikes approved by the Gilbert Town Council in October.
The Bank of England should move quickly to bring down interest rates given signs of a slowdown in Britain's economy, Alan Taylor, the BoE's most recently appointed interest rate setter, said on Wednesday.
Global hedge funds added more bets against U.S. stocks over the last week through Jan 9, ahead of a blowout U.S. jobs report that sparked a sell-off on Wall Street, Morgan Stanley and Goldman Sachs said in notes on Friday.
* US core inflation rises 0.2%, as expected. * US 10-year yield on pace for largest daily fall in two months. * US 2/10 yield curve flattens after inflation data. * US rate futures price in 38 bps of easing in 2025. By Gertrude Chavez-Dreyfuss.
Federal Reserve Bank of New York President John Williams said Wednesday it's too soon to say how the election outcome and the return of Donald Trump as president will affect the economy.
Palo Alto Networks, Inc. (PANW) shares are trading higher on Wednesday. In fact, shares of software companies are trading higher amid overall market strength after CPI data was in line with estimates and core CPI rose by less than expected.
Canada's main stock index rose on Wednesday as investors welcomed a U.S. inflation print that lifted hopes for more rate cuts this year by the Federal Reserve. The Toronto Stock Exchange's S&P/TSX composite index was up 0.76%, or 186.04 points, at 24774.62. Eleven of thirteen sectors were trading higher, with information technology stocks leading with a 1.9% rise.
* US stocks rise after core inflation up less than forecast. * U.S. Treasury yields fall with dollar. * Oil and gold rally. By Sin?ad Carew and Amanda Cooper. A global equities gauge rallied on Wednesday while the dollar fell with Treasury yields after data showed core U.S. inflation rose less than expected in December, raising hopes that the Federal Reserve could ease rates further.
The dollar weakened
against major peers on Wednesday after cooler-than-expected data
eased fears that inflation was accelerating and increased the
chances the Federal Reserve could cut interest rates ...
Federal Reserve Bank of New York President John Williams said on Wednesday that future monetary policy actions will be driven by economic data as the central bank confronts a high level of uncertainty in large part driven by potential government policy changes.
Freddie Mac? Multifamily today announced its 2024 production volume totaled $66 billion, a 34% increase over 2023. ?Every day, we go to work to provide liquidity, stability and affordability to the multifamily market. Freddie Mac data released today indicates that the company will achieve its 2024 Multifamily affordable housing goals set by the Federal Housing Finance Agency.
Bitcoin? mining stocks?MARA Holdings?Inc?,?Riot Platforms?Inc??and CleanSpark?Inc? are trading higher Wednesday following softer-than-expected Consumer Price Index data. What To Know:?Bitcoin is surging following core CPI data that came in below expectations. Broader markets are rallying on the heels of the inflation data and crypto names are getting an extra lift from a rise in Bitcoin prices.
Consumer inflation eased slightly in December, with core CPI coming in at 3.2% on a year-over-year basis, below the 3.3% estimate. Headline CPI rose 2.9% year-over-year, in-line with expectations.
* Consumer price index increases 0.4% in December. * Energy goods account for more than 40% of the rise in CPI. * Consumer inflation rises 2.9% on year-on-year basis. * Core CPI gains 0.2%; up 3.2% from year ago. By Lucia Mutikani.
Federal Reserve officials said data released on Wednesday showed U.S. inflation was continuing to ease even as they noted heightened uncertainty in the coming months as they await a first glimpse of the incoming Trump administration's policies.
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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