Argentina's central bank on Thursday passed regulations to promote currency competition, the monetary authority said, including allowing dollar-denominated commercial payments in the local market. Payment processors have until Feb. 28 to roll out tools to streamline commercial payments in dollars, the central bank said in a statement.
* Bessent makes Senate debut as Trump's economic point man. * Hedge fund manager a vocal advocate for Trump's tariff agenda. * Bessent says US needs stronger sanctions on Russian oil. * High debt curbs US crisis-fighting fiscal capacity, Bessent says. * Bessent vows to maintain dollar reserve currency status. By David Lawder.
Scorpio Tankers Inc (SBBA): * ANNOUNCES SUCCESSFUL PLACEMENT OF 5-YEAR SENIOR UNSECURED BONDS. * PLACED USD 200 MILLION OF NEW SENIOR UNSECURED BONDS IN NORDIC BOND MARKET. * NET PROCEEDS FROM BOND ISSUE SHALL BE USED TO REFINANCE EXISTING USD 70.6 MILLION SENIOR UNSECURED NOTES.
Chicago Federal Reserve Bank President Austan Goolsbee said he feels more comfortable that the labor market is stabilizing, the Wall Street Journal reported on Thursday.
Greystone, a leading national commercial real estate finance company, has provided a $11,749,000 Fannie Mae Delegated Underwriting & Servicing loan to refinance a 61-unit multifamily property in Amityville, New York.
The World Bank on Thursday warned that U.S. across-the-board tariffs of 10% could reduce already lackluster global economic growth of 2.7% in 2025 by 0.3 percentage point if America's trading partners retaliate with tariffs of their own.
* * Trade policy shifts, uncertainty creating headwinds. * Developing countries face lowest long-term growth since 2000. By Andrea Shalal. The World Bank on Thursday warned that U.S. across-the-board tariffs of 10% could reduce already lackluster global economic growth of 2.7% in 2025 by 0.3 percentage point if America's trading partners retaliate with tariffs of their own.
American Express Co (AXP): * AMERICAN EXPRESS STATEMENT ON AGREEMENTS WITH U.S DEPARTMENT OF JUSTICE AND FEDERAL RESERVE SYSTEM. * AMERICAN EXPRESS (AXP)- PURSUANT TO AGREEMENTS & AFTER CREDITING, CO TO PAY ABOUT $230 MILLION IN TOTAL TO RESOLVE MATTERS. * AMERICAN EXPRESS (AXP): COSTS ASSOCIATED WITH U.S DOJ AGREEMENTS LARGELY RESERVED FOR IN PRIOR PERIODS, DO NOT IMPACT 2024 GUIDANCE PREVIOUSLY PROVIDED.
* Recently launched New York Fed measure held steady as of Jan. 7. * Fed officials still see no imminent need to stop balance sheet drawdown. * Wall Street pushing back end of balance sheet drawdown. By Michael S. Derby.
Staff at central bank umbrella group, the Bank for International Settlements, have warned of a global bout of stagflation if trade tariffs promised by soon-to-be-U.S. President Donald Trump continue to drive up the dollar. Stagflation - the combination of strong inflation and weak economic growth is viewed as Kryptonite by economists as consumers and firms are hit from both sides.
Staff at central bank umbrella group, the Bank for International Settlements, have warned of a global bout of stagflation if trade tariffs promised by soon-to-be-U.S. President Donald Trump continue to drive up the dollar. Stagflation - the combination of strong inflation and weak economic growth is viewed as Kryptonite by economists as consumers and firms are hit from both sides.
- The Federal Reserve should stay independent, Trump's pick to be U.S. Treasury Secretary told a Senate panel on Thursday. "I think on monetary policy decisions, the FOMC should be independent," Scott Bessent told the U.S. Senate Finance Committee, referring to the Fed's monetary policysetting panel, the Federal Open Market Committee.
* Wall St muted after Europe, Asia gain. * US earnings kick off with strong showing from banks. * Asian stocks boosted by tech, Europe by luxury, chipmakers. * Yen rises on growing rate hike wagers. By Sin?ad Carew and Alun John.
Funds Will Help With New Refuge Family and Respite Shelter. Representatives from the Federal Home Loan Bank of Dallas and First Security Bank awarded $30,000 in Partnership Grant Program funding to the Conway Ministry Center to assist the nonprofit organization with its efforts to reduce homelessness. This press release features multimedia.
Norsk Hydro ASA (NHYKF) has successfully issued EUR 500 million of senior unsecured green bonds under its Euro Medium Term Note Programme. ?The new bond has a tenor of 7 years and a fixed annual coupon of 3.625 percent. "We are very satisfied to have completed such a successful placement and issued our inaugural green bond.
-??2,228.26 per troy ounce?representing a 41% rise within 12 months - LONDON, Jan. 16, 2025 The price of gold has climbed to its highest level ever recorded in sterling terms, driven by a combination of global economic trends and UK-specific factors.?Over the past 12 months, gold has appreciated by ?647.63 rising from a January 2024 low of ?1,580.631 to today's ?2,228.262?per troy ounce.
U.S. President-elect Donald Trump said on Thursday he would nominate Bill Pulte to be the next director of the Federal Housing Finance Agency. "Bill needs no formal introduction to the Great Citizens of our Country, because they have seen, and many have experienced, his philanthropy firsthand," Trump wrote in a post on Truth Social.
The Federal Reserve should stay independent, Trump's pick to be U.S. Treasury Secretary told a Senate panel on Thursday. "I think on monetary policy decisions, the FOMC should be independent," Scott Bessent told the U.S. Senate Finance Committee, referring to the Fed's monetary policysetting panel, the Federal Open Market Committee.
Bank of America Corp (BAC): * BANK OF AMERICA CEO SAYS THE ECONOMY APPEARS TO BE NOW SETTLED INTO 2% TO 3% GDP TYPE GROWTH ENVIRONMENT - CONF CALL. * BOFA CEO BRIAN MOYNIHAN SPEAKS ON CONFERENCE CALL. * BOFA CEO SAYS WE SHOULD REPORT RECORD NET INTEREST INCOME IN 2025. * BOFA CEO SAYS GROWN DEPOSITS FOR SIX CONSECUTIVE QUARTERS.
- J.P.Morgan estimated spending on data centers could contribute between 10-20 basis points to U.S. economic growth in 2025-2026 as technology companies race to benefit from the artificial intelligence boom.
- J.P.Morgan estimated spending on data centers could contribute between 10-20 basis points to U.S. economic growth in 2025-2026 as technology companies race to benefit from the artificial intelligence boom.
Guangdong Province is expected to maintain its leading position as China?s top provincial economy in 2024, with its GDP estimated to surpass 14 trillion yuan, according to the Guangdong Provincial People?s Congress report on January 15, 2025. This press release features multimedia.
Benchmark German bond yields steadied on Thursday in choppy trading, drawing some support from a modest rally in the Treasury market following softer U.S. consumer spending data. Federal Reserve Governor Christopher Waller said he believed the central bank could deliver three or four rate cuts this year if the data supported that, which helped Treasury yields fall as prices rose.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 7.04 percent. ?Mortgage rates ticked up for the fifth consecutive week and crossed seven percent for the first time since May of 2024,? said Sam Khater, Freddie Mac?s Chief Economist.
- Scott Bessent, U.S. President-elect Donald Trump's choice to head the Treasury Department, on Thursday said that extending Trump's 2017 tax cuts that are set to expire at the end of this year is "the single most important economic issue of the day." "If we do not renew and extend, then we will be facing an economic calamity," Bessent told the U.S. Senate Finance Committee.
- Scott Bessent, U.S. President-elect Donald Trump's choice to head the Treasury Department, on Thursday said that extending Trump's 2017 tax cuts that are set to expire at the end of this year is "the single most important economic issue of the day." "If we do not renew and extend, then we will be facing an economic calamity," Bessent told the U.S. Senate Finance Committee.
U.S. President-elect Donald Trump said on Thursday he would nominate Bill Pulte to be the next director of the Federal Housing Finance Agency. "Bill needs no formal introduction to the Great Citizens of our Country, because they have seen, and many have experienced, his philanthropy firsthand," Trump wrote in a post on Truth Social.
* Waller's inflation outlook sees a faster return to 2% target. * He says a rate cut at Fed's March meeting cannot be ruled out. * Investors see two cuts as more likely in 2025 after his remarks. By Howard Schneider, Ann Saphir.
* Fed's Waller says three or four cuts possible this year. * US retail sales, jobless claims softer than expected. * Philly Fed Index surges, analysts say could be an aberration. * US 2/10 yield curve flattens slightly. * US rate futures price in 40 bps of easing in 2025. By Gertrude Chavez-Dreyfuss.
- Pakistan's central bank said on Thursday that the United Arab Emirates has confirmed rollover of its two deposits of $1 billion each placed with state bank of Pakistan for another year.
Franklin Templeton Institute?s Global Investment Management Survey reveals optimistic outlook for the economy, equities, fixed income and alternative investments in 2025 Investors are gearing up for a promising 2025, citing stable inflation, rates, and low unemployment according to the latest Global Investment Management Survey by the Franklin Templeton Institute.
Inflation is likely to continue to ease and possibly allow the Federal Reserve to cut rates sooner and faster than expected, Fed governor Chris Waller said Thursday in comments that pushed against recent market moves that anticipated a shallower Fed rate path. Inflation "is getting close to what our 2% inflation target would be," Waller said on CNBC.
Inflation is likely to continue to ease and possibly allow the U.S. central bank to cut interest rates sooner and faster than expected, Federal Reserve Governor Christopher Waller said on Thursday in comments that pushed against recent market moves that anticipate a shallower Fed rate path.
The U.S. central bank faces no imminent pressure to stop the contraction of its holdings of Treasury bonds and mortgage-backed securities, data released by the New York Federal Reserve suggested 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.
* US earnings kick off with strong showing from banks. * Richemont leads European stocks higher after results. * Asian stocks surge, boosted by tech sector after TSMC results. * 10-year Treasury yield holds on to Wednesday gains, last 4.67% * Yen hits strongest in a month on growing rate hike wagers. By Alun John.
U.S. business inventories rose marginally in November, suggesting that restocking will probably not contribute to economic growth in the fourth quarter. Inventories ticked up 0.1% after being unchanged in October, the Commerce Department's Census Bureau said on Thursday. Inventories increased 2.6% on a year-on-year basis in November. Inventories and trade are the most volatile components of GDP.
U.S. business inventories rose marginally in November, suggesting that restocking will probably not contribute to economic growth in the fourth quarter. Inventories ticked up 0.1% after being unchanged in October, the Commerce Department's Census Bureau said on Thursday. Inventories increased 2.6% on a year-on-year basis in November. Inventories and trade are the most volatile components of GDP.
The Federal Reserve Bank of New York released data Thursday that suggest it faces no imminent pressure to stop the process of shrinking the size of its balance sheet. The bank said that its Reserve Demand Elasticity measure essentially held steady as of January 7 at a -0.04 reading.
* Gold hits its highest level since Dec. 12. * Treasury yields pare gains after US data. * US weekly jobless claims increase more than expected. By Anjana Anil.
Scorpio Tankers Inc. (SBBA) announces today that it has successfully placed USD 200 million of new senior unsecured bonds in the Nordic bond market. The net proceeds from the bond issue shall be used to refinance the Company?s existing USD 70.6m senior unsecured notes and for general corporate purposes.
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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