The World Bank's Global Economic Prospects report, released Thursday, highlights a fragile outlook as inflation, trade disruptions, geopolitical tensions and policy uncertainty weigh on momentum. The global economy is expected to stay stuck at 2.7% growth in 2025-?26, a pace too weak to drive real economic progress.
China's economy likely rebounded in the fourth quarter as several rounds of policy stimulus kicked in, enabling the government to largely meet its 2024 growth target, though the risk of new U.S. tariffs could hold back a broader recovery. A Reuters poll predicts gross domestic product grew 5.0% in October-December from a year earlier, quickening from the 4.6% pace in the third quarter.
* China's Q4 GDP growth seen at 5.0%, vs 4.6% in Q3. * 2024 growth estimated at 4.9%, largely meeting official target. * GDP, Dec activity data due 0200 GMT on Friday. * 2025 outlook clouded by trade tensions as Trump returns. * Policymakers pledge to ramp up stimulus this year. By Kevin Yao.
SALT LAKE CITY, Jan. 16, 2025 Extra Space Storage Inc. (EXR), a leading owner and operator of self-storage facilities in the United States and a member of the S&P 500, today announced that its operating partnership, Extra Space Storage LP, has priced a public offering of $350 million aggregate principal amount of additional 5.500% senior notes due 2030.
- A look at the day ahead in Asian markets. Relief from the positive U.S. and UK inflation surprises this week appears to have evaporated, at least as far as equity markets are concerned, even as Treasury yields and the dollar continue to drift lower into the last trading day of the week. Asian markets open on Friday against a mixed global backdrop.
A look at the day ahead in Asian markets. Relief from the positive U.S. and UK inflation surprises this week appears to have evaporated, at least as far as equity markets are concerned, even as Treasury yields and the dollar continue to drift lower into the last trading day of the week. Asian markets open on Friday against a mixed global backdrop.
Munis "responded in part to a better UST session [Wednesday] but weren't in a position from a supply standpoint to attempt to match the 10-15 basis point rally in taxables," said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.
* Morgan Stanley (MS) up after higher Q4 profits. * UnitedHealth (UNH) falls on missing quarterly sales estimates. * Investors parse retail sales, jobless claims data. By Chuck Mikolajczak. U.S. stocks dipped on Thursday as a jump in the prior session cooled, while investors eyed the most recent corporate earnings and gauged economic data to determine the path of Federal Reserve rate cuts.
President-elect Donald Trump?announced plans Thursday to nominate private equity CEO Bill Pulte as director of the Federal Housing Finance Agency. What To Know: If Trump?s selection is confirmed, Pulte will become the top housing regulator, overseeing mortgage giants Fannie Mae and Freddie Mac , which have been in conservatorship since the 2008 financial crisis.
Former Bank of Canada governor Mark Carney announced on Thursday that he is running to replace Prime Minister Justin Trudeau as leader of the ruling Liberal Party. Carney, 59, launched his bid at an event in the western city of Edmonton, casting himself as an outsider who was not part of Trudeau's unpopular government.
* 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 43 bps of easing in 2025. By Gertrude Chavez-Dreyfuss.
Treasury Secretary nominee Scott Bessent sparred with the Senate Finance Committee over the future direction of fiscal policy in the Trump administration that will be trying to tackle major tax legislation.
* Wall St muted after Europe, Asia gains. * Trump's Treasury pick in the spotlight. * Asian stocks boosted by tech, Europe by luxury, chipmakers. * Yen rises on growing rate hike wagers. By Sin?ad Carew and Alun John.
-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.
Scott Bessent, who is immersed in the Senate confirmation process as President-elect Donald Trump's Treasury secretary nominee, only addressed Crypto (CRCW) briefly.
Ryan Donovan, President and Chief Executive Officer of the Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System, today released the following statement in response to President Trump?s nomination of Bill Pulte as director of the Federal Housing Finance Agency.
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.
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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