ATLANTA, Jan. 16, 2025 ?The following is a blog post by Cary Chenanda, President, Novelis North America, and Executive Vice President, Novelis. ?. As the world's largest recycler of aluminum, Novelis has long played an integral role in scaling circularity and decarbonizing the aluminum industry to create a more sustainable future.
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Post-Telecommunication Joint Stock Insurance Corporation.
Canada's main stock index opened higher on Thursday, on the back of metal mining shares, while investors assessed domestic housing and U.S. retail sales data. At 9:33 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was up 0.24%, or 58.88 points, at 24,848.18.
By Jamie McGeever. Spiking Treasury yields and the 'wrecking ball' dollar are creating a negative feedback loop that monetary authorities around the globe may be helping to sustain. Potential culprits include strong U.S. growth, sticky inflation, debt and deficit fears, as well as uncertainty surrounding incoming U.S. President Donald Trump's trade, immigration and 'America First' economic agenda.
The Bank of Canada will cut interest rates by 25 basis points to 3.00% on Jan. 29, according to a Reuters poll of economists, but many were not confident about the outlook beyond that given uncertainty around threatened U.S. tariffs and possible Canada's response. The country's central bank has been one of the world's most aggressive in reducing rates.
* Bank of America (BAC), Morgan Stanley (MS) up after higher Q4 profits. * UnitedHealth (UNH) falls on missing quarterly sales estimates. * Rate-cut bets intact after retail sales, jobless claims data. * Futures: Dow down 0.3%, S&P 500 up 0.1%, Nasdaq up 0.3% By Johann M Cherian and Sukriti Gupta.
Advisor concerns for a major equity market downturn largely wavered in the final quarter of 2024 Registered Investment Advisors have an improved outlook and increased optimism following the U.S. election, according to the latest RIA Economic Outlook Index from Security Benefit in partnership with Greenwald Research.
U.S. Treasury yields pared gains on Thursday after data showed weaker-than-expected numbers in retail sales, jobless claims, and import prices. The lone surprise was the Philadelphia Fed Business Index, which jumped to 44.3 in January. The benchmark 10-year yield trimmed gains after the data, last up 1.4 basis points at 4.669%. It was 4.694% before the data.
U.S. retail sales edged higher in December, showing that consumers kept spending through the holiday season, but the increase wasn't as strong as economists had hoped. Retail and food services sales rose 0.4% last month, decelerating from upwardly revised 0.8% growth in November, according to advanced estimates from the U.S. Census Bureau released Thursday.
The number of Americans filing new applications for unemployment benefits increased more than expected last week, but remained at levels consistent with a healthy labor market. Initial claims for state unemployment benefits rose 14,000 to a seasonally adjusted 217,000 for the week ended Jan. 11, the Labor Department said on Thursday.
The number of Americans filing new applications for unemployment benefits increased more than expected last week, but remained at levels consistent with a healthy labor market. Initial claims for state unemployment benefits rose 14,000 to a seasonally adjusted 217,000 for the week ended Jan. 11, the Labor Department said on Thursday.
U.S. retail sales increased in December as households bought motor vehicles and a range of other goods, pointing to strong demand in the economy and further reinforcing the Federal Reserve's cautious approach to cutting interest rates this year.
-Major brokerages stuck to their predictions on interest rate cuts in 2025, after U.S. inflation data came in line with expectations on Wednesday, easing investor nerves, following a surprisingly strong U.S. employment report last week.
Canadian housing starts fell 13% in December compared with the previous month as groundbreaking decreased on multiple unit and single-family detached urban homes, data from the national housing agency showed on Thursday. The seasonally adjusted annualized rate of housing starts fell to 231,468 units from a revised 267,140 units in November, the Canadian Mortgage and Housing Corporation said.
DANVILLE, Va., Jan. 16, 2025 Molly Montgomery, Executive Chair and CEO of AeroFarms,?the leading supplier of microgreens to the U.S. retail market and a Certified B Corporation,?has been invited to attend the World Economic Forum annual meeting in Davos, Switzerland.
Amid rising concerns about a potential ?death spiral? in the U.S. Treasury market, major international investors remain unfazed. What Happened: European money managers, Australian pension funds, and Japanese insurers are still favoring U.S. Treasuries, attracted by their yield premiums compared to other markets.
Brazil's economic activity grew by a seasonally adjusted 0.1% in November compared to the previous month, a central bank index showed on Thursday, while economists polled by Reuters were expecting a flat performance.
Donald Trump came to Washington eight years ago vowing to rewrite U.S. trade relationships, shrink a massive goods trade deficit and rebuild America's industrial base with new tariffs. The president-elect is about to embark on an even more aggressive effort in his second term, pledging to impose 10% duties on all U.S. imports and 60% on goods from China.
Donald Trump came to Washington eight years ago vowing to rewrite U.S. trade relationships, shrink a massive goods trade deficit and rebuild America's industrial base with new tariffs. The president-elect is about to embark on an even more aggressive effort in his second term, pledging to impose 10% duties on all U.S. imports and 60% on goods from China.
* Longer-dated U.S. Treasury yields hit a more than one-year high this week. * Markets concerned over $4 trillion cost of extending tax cuts and $36 trillion US government debt. * Democrats argue tax cuts benefit wealthy, harm fiscal position. By David Morgan.
* Sterling falls sharply versus yen. * BoJ to debate raising rates next week. * Bank of England expected to ease monetary policy. * Analysts say could be too soon to expect sterling rebound. By Stefano Rebaudo.
* Futures up: Dow 0.01%, S&P 500 0.20%, Nasdaq 0.34% U.S. stock index futures ticked up on Thursday, ahead of quarterly results from some of the country's major lenders, and economic reports that could offer insights into the health of the world's largest economy.
* Risk of bond vigilantes returning if Trump's policies misfire, some experts say. * U.S. debt-to-GDP ratio nearing 100%, raising market concerns. * Trump adviser Laffer says focus is on growth, not deficits. * Former Treasury Secretary Rubin: risk bond market could force Trump's hand. By Lawrence Delevingne, Yoruk Bahceli, Davide Barbuscia and Dhara Ranasinghe.
* Gold hits its highest level since Dec. 12. * Traders bring back bets on two Fed rate cuts in 2025. * De-escalating geopolitical tensions can dilute safe-haven demand-analyst. By Anushree Mukherjee and Ashitha Shivaprasad.
* Maritime security officials expect halt to Houthi shipping attacks. * Strong US retail sales report further clouds outlook for Fed rate cuts. * Fed governor's comments ease some investors' rate-cut concerns. By Georgina McCartney.
* Dollar steadies before Trump inauguration. * Traders eyeing Bessent nomination hearing. * Yen firms vs dollar and euro on possible BOJ rate hikes. By Stefano Rebaudo and Tom Westbrook.
Wednesday's soft U.S. core CPI has opened doors for traders to focus on Trump's swearing in and the possibility of first-day pro-Crypto (CRCW) announcement.
The CNN Money Fear and Greed index remained in the ?Fear? zone on Wednesday. U.S. stocks settled higher on Wednesday, with all three major indices recording their best day since Nov. 6. On the economic data front, the headline Consumer Price Index rose 2.9% year-over-year in December, up from November?s 2.7%, matching economist forecasts.
The Indonesian rupiah stayed near
six-month lows on Thursday, while the South Korean won snapped a
three-day winning streak after both countries' central banks
shocked investors by eschewing ...
Most base metals rose on Thursday as the dollar weakened after soft U.S. core inflation raised hopes that the Federal Reserve could cut interest rates further. The dollar index paused its rally following the release of core consumer price index data. A weaker dollar makes greenback-priced commodities cheaper for holders of other currencies.
SHANGHAI, Jan. 16, 2025 A news report from english.shanghai.gov.cn Shanghai's gross domestic product is expected to grow by around 5 percent in 2025 as the city enters a new phase in terms of urban economic scale, with the city's GDP surpassing 5 trillion yuan last year, said Mayor Gong Zheng on Jan 15.
SHANGHAI, Jan. 15, 2025 A news report from english.shanghai.gov.cn Shanghai entered a new phase in terms of urban economic scale as its gross domestic product surpassed 5 trillion yuan last year based on the city's around 5 percent year-on-year growth, said Mayor Gong Zheng on Jan 15.
* * 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.
The pound fell on Thursday after data showed the British economy grew more slowly than expected in November, which could give the Bank of England more room to cut interest rates this year.
* 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. SINGAPORE, Jan 16 - The dollar steadied on Thursday, after dipping alongside cooling U.S. inflation and falling bond yields, while the yen hit a one-month high on rising bets on a rate hike in Japan.
Japanese government bond yields dropped on Thursday amid pressure from a steep slide in U.S. Treasury yields overnight and strong demand at an auction of domestic 20-year bonds. The 10-year JGB yield sank 4.5 basis points to 1.205% as of 0555 GMT, retreating from Wednesday's peak of 1.255%, a level previously not seen since April 2011.
President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the Federal Reserve should stay independent, and that he is ready to impose tougher sanctions on Russia's oil sector.
-The Bank of Japan holds its first policy meeting of the year next week and the outcome will be announced days after the inauguration of U.S. President-elect Donald Trump. Here is a guide on what to expect and why the BOJ's rate review matters: WHEN DOES THE BOJ MEETING TAKE PLACE? The BOJ board that sets monetary policy is due to meet on Jan. 23-24.
The Indonesian rupiah hit a more than
six-month low on Thursday while the South Korean won snapped a
three-day winning streak after both countries' central banks
shocked investors by eschewing ...
-Property developer China Vanke told some investors on Wednesday that it had no plans to extend the maturity dates of its bonds amid a market sell-off, financial news outlet REDD reported, citing two persons briefed by the company on the matter.
The Bank of Japan will raise interest rates again at one of the two meetings this quarter to 0.50%, an overwhelming majority of economists surveyed by Reuters said, with most leaning toward a January move.
Japanese government bond yields fell on Thursday amid pressure from a steep slide in U.S. bond yields overnight, as cooling core inflation reignited bets for a Federal Reserve interest rate cut by July. However, rising bets for the Bank of Japan to raise rates at its meeting next week bolstered the yen and mitigated the decline in domestic yields.
* Gold hits its highest level since Dec. 12. * Israel and Hamas reach a ceasefire deal in Gaza. * Progress in disinflation could prompt FOMC to ease monetary policy - analyst. By Rahul Paswan.
Prices of most base metals rose on Thursday, helped by a weaker dollar as soft U.S. core inflation data raised hopes that the Federal Reserve could cut interest rates further. The dollar index paused its rally following the release of core consumer price index data. A weaker dollar makes greenback-priced commodities cheaper for holders of other currencies.
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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