Canada will release consumer price index data for May at 8:30 a.m. ET on Tuesday, noted Scotiabank. CPI for May is expected to rise by several tenths in month-over-month non-seasonally adjusted fashion, but key will be the Bank of Canada's preferred core measures, said Scotiabank.
The US dollar fell against its major trading partners early Tuesday ahead of an unusually busy schedule of economic releases and the first day of testimony from Federal Reserve Chairman Jerome Powell before the House Financial Services Committee starting at 10:00 am ET.
The Canadian consumer price index report for May at 8:30 a.m. ET is the key release on Tuesday, with implications for the Bank of Canada, said Bank of Montreal. Canadian inflation is expected to slow again in May, though unlike in April, it's not due to the one-time elimination of the consumer carbon tax, noted the bank.
Canada's consumer price index for May at 8:30 a.m. ET on Tuesday will attract "close interest," said Bank of Montreal. The Bank of Canada may be inclined to lower rates once more, having returned policy to neutral at 2.75%, noted SocGen. Consensus is for headline CPI to slow to 1.7% year over year in May and core to 3.0%, wrote the bank in a note to clients.
Wall Street futures pointed solidly higher pre-bell Tuesdays after Iran and Israel evidently accepted a US-brokered ceasefire agreement, and as traders awaited Congressional testimony from the nation's central bank chief. Federal Reserve Chair Jerome Powell will present his semi-annual testimony to the House Financial Services Committee, starting at 10 am ET.
Since its last update, GBPCHF has come under pressure from weaker United Kingdom labor market data and escalating tensions in the Middle East, said UBS. The bank thinks that sterling and the Swiss franc should regain the lost ground, barring further. negative risks events. The mid-June central bank meeting marathon is now behind investors, noted UBS.
Life Time Group (LTH) said late Monday it closed a sale-leaseback transaction involving three properties, generating gross proceeds of about $150 million. The company also said S&P Global Ratings upgraded its issuer credit rating to BB- from B+ ahead of the transaction, citing strong operating performance driven by growth in memberships, member engagement, and demand for in-center offerings.
Financial stocks rose in late Monday afternoon trading with the NYSE Financial Index up 0.8% and the Financial Select Sector SPDR Fund adding 1.2%. The Philadelphia Housing Index gained 2.9%, and the Real Estate Select Sector SPDR Fund advanced 1.5%. Bitcoin increased 1.9% to $102,929, and the yield for 10-year US Treasuries dropped 4 basis points to 4.33%. In economic news, if conditions are a...
Financial stocks were rising in late Monday afternoon trading, with the NYSE Financial Index up 0.7% and the Financial Select Sector SPDR Fund adding 0.9%. The Philadelphia Housing Index was climbing 2.5%, and the Real Estate Select Sector SPDR Fund advanced 1.4%. Bitcoin was increasing 1.9% to $102,929, and the yield for 10-year US Treasuries dropped 4 basis points to 4.33%. In economic news, ...
Federal Reserve Vice Chair for Supervision Michelle Bowman said Monday she would support lowering interest rates as soon as next month provided that inflationary pressures remain "contained." Last week, the central bank's Federal Open Market Committee kept its benchmark lending rate unchanged at 4.25% to 4.50% for a fourth straight meeting.
Fed Vice Chair for Supervision Michelle Bowman said that a July rate cut could be considered given an expected slowing in labor market data and the possibility that the inflation impact from tariffs could be a one-time event and of a smaller size than previously expected. Chicago Fed President Austan Goolsbee said tariff impacts to this point have been more modest than expected.
JBS NV (JBS) is planning a $3.5 billion bond sale to extend debt maturities, Bloomberg reported, citing a person familiar with the matter. The Brazilian meat producer is mulling a debt offering with due dates of 10, 30, and 40 years, the person told Bloomberg. The debt offering comes as borrowers tap into debt markets amid escalating Middle East conflicts, according to the report.
Financial stocks were rising in Monday afternoon trading, with the NYSE Financial Index up 0.4% and the Financial Select Sector SPDR Fund adding 0.6%. The Philadelphia Housing Index was climbing 1.8%, and the Real Estate Select Sector SPDR Fund added 1.2%. Bitcoin was increasing 2.8% to $102,386, and the yield for 10-year US Treasuries dropped 6.5 basis points to 4.31%. In economic news, if con...
US equity indexes rose after midday Monday, moving between gains and losses, while government bond yields slumped amid speculation Iran has begun targeting the United States' assets.
Financial stocks were decreasing in Monday afternoon trading, with the NYSE Financial Index shedding 0.4% and the Financial Select Sector SPDR Fund off 0.3%. The Philadelphia Housing Index was climbing 1.1%, and the Real Estate Select Sector SPDR Fund added 0.9%. Bitcoin was increasing 2.1% to $101,577, and the yield for 10-year US Treasuries dropped 6 basis points to 4.31%. In economic news, i...
US existing home sales unexpectedly rebounded in May even as prices reached a record high for the month, according to data released Monday by the National Association of Realtors. Sales edged up 0.8% sequentially to a seasonally adjusted annual rate of 4.03 million units last month, following a 0.5% decline in April.
Deutsche Bank said it expects Brazil's central bank to pause at least until year-end -- with a possible fine-tuning of 25bps. The revenue rather than the spending route this government has favored pushed the market closer to pricing a final 25bp hike, but other than rounding the Selic to 15%, Deutsche Bank sees no discernible gain from such a hike.
US private-sector output growth decelerated in June amid falling exports, according to S&P Global's (SPGI) flash purchasing managers' index released Monday. The composite output index slipped to a two-month low of 52.8 from 53 in May. The consensus in a survey compiled by Bloomberg indicated a 52.1 reading.
Scotiabank said most economists expect Colombia's central bank to hold its overnight rate at 9.25% on Friday. Scotiabank is in the minority that is expecting a 25bps cut.
Canada refreshes the consumer price index for May on Tuesday at 8:30 a.m. ET and it's one of two inflation readings before the next Bank of Canada policy decision on July 30, said Scotiabank.
If conditions are appropriate, the Federal Open Market Committee could consider reducing interest rates as soon as its next meeting in July, Federal Reserve Vice Chair for Supervision Michelle Bowman said Monday at a research conference sponsored by the International Journal of Central Banking and the Czech National Bank.
RBC said it expects Friday's Canadian gross domestic product data for April to show slowing growth following a jump in Q1 that was largely driven by front-running tariffs. GDP is expected to have eked out a 0.1% month-over-month increase in April, matching Statistics Canada's preliminary estimate from a month ago, noted the bank.
The pace of US existing home sales rose by 0.8% to a 4.03 million seasonally adjusted annual rate in May from 4.00 million in April, compared with an expected decrease to a 3.95 million rate in a survey compiled by Bloomberg as of 7:35 am ET, data from the National Association of Realtors released Monday showed. Total sales were down 0.7% from a year earlier.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood and Wildfire Scores, according to ICE Climate Data. A $6 million offering from Nahant, Mass., records a Flood Score of 5.0 out of 5.0, ICE reports.
RBC said it expects Canadian consumer price index growth to edge up 1.8% year over year in May from April's 1.7%, with the excluding food and energy price growth holding steady at 2.6% year over year. Canada will publish May's CPI on Tuesday at 8:30 a.m. ET.
Tidewater said Monday it has launched a private offering of $650 million of unsecured senior notes due 2030. The company said it plans to use the net proceeds, along with cash on hand, to pay back a term loan and redeem its outstanding 8.50% senior secured bonds due 2026 and 10.375% senior unsecured bonds due 2028 as well as cover any extra costs, like interest and fees.
The US dollar rose against its major trading partners early Monday, with testimony by Federal Reserve Chairman Jerome Powell, home sales data, the final estimate of Q1 gross domestic product and personal income, sales and price data for May the focus for this week after the military action taken by the US against Iranian nuclear facilities Saturday.
Last week offered a robust set of geopolitical events and data for investors to digest, with top of the agenda the G7 meeting in Alberta, said TD. There were a few takeaways for Canada, including a commitment of $4 billion in funding for Ukraine and steps to enhance trade with the United Kingdom, noted the bank.
The latest developments in the Middle East will understandably dictate price action in financial markets at the start of this week, said MUFG. It follows a heavy schedule of central bank updates last week, wrote the bank in a note to clients.
US equity investors will focus on the impact of the bombing of Iran's nuclear facilities and Federal Reserve Chair Jerome Powell's testimony before the Congress ahead of the central bank's preferred inflation data this week. * President Donald Trump warned Iran of a far greater US response if it retaliates, Bloomberg reported.
US equities closed mixed in choppy trading Friday as investors kept tabs on developments in the Middle East while digesting comments by a Federal Reserve governor. The Nasdaq Composite fell 0.5% to 19,447.41, while the S&P 500 lost 0.2% to 5,967.84. The Dow Jones Industrial Average gained 0.1% to 42,206.82. Communication services led decliners among sectors, while energy saw the biggest gain.
US equity indexes ended mixed this week after President Donald Trump unveiled a deadline to reach a nuclear deal with Tehran, and the Federal Reserve left the possibility of two interest-rate cuts on the table in the remaining four monetary policy meetings in the second half. * The S&P 500 closed at 5,967.84 on Friday versus 5,970.55 a week ago.
US benchmark equity indexes closed mixed on Friday, as markets weigh ongoing developments in the Israel-Iran conflict and a potential rate cut by the Federal Reserve in July.
US benchmark equity indexes ended lower Friday as traders monitored the latest developments in the Middle East and comments by a Federal Reserve governor. * US President Donald Trump will allow two weeks for diplomacy before deciding whether to launch a strike against Iran amid its ongoing conflict with Israel, news outlets reported.
Financial stocks were mixed in late Friday afternoon trading with the NYSE Financial Index little changed, erasing earlier gains, and the Financial Select Sector SPDR Fund up 0.2%. The Philadelphia Housing Index added 1.1%, and the Real Estate Select Sector SPDR Fund edged up 0.1%. Bitcoin declined 1.4% to $103,256, and the yield for 10-year US Treasuries decreased 2.2 basis points to 4.375%. P...
Richmond Fed President Tom Barkin told Reuters in an interview that the FOMC should not hurry to cut interest rates due to the possibility that tariffs could lift inflation and the current resilience of the US job market.
US benchmark equity indexes were mixed intraday as traders monitored the latest developments in the Middle East and comments by a Federal Reserve governor.
The National Association of Realtors' measure of US existing-home sales is expected to slow to a 3.95 million annual rate in May, based on a survey compiled by Bloomberg, after falling by 0.4% to a 4.0 million rate in April. Existing-home sales were at a 4.06 million rate in May 2024, so the year-over-year change would be negative. The data are scheduled to be released at 10:00 am ET Monday.
The Philadelphia Federal Reserve's manufacturing reading remained at minus 4 in June, still indicating modest contraction in the sector after a sharp decline in the New York Fed's Empire State reading earlier in the week. The Conference Board's Leading Economic Index fell by 0.1% in May after a 1.4% drop in April. MT Newswires does not provide investment advice.
Financial stocks were edging up in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each increasing 0.1%. The Philadelphia Housing Index was adding 0.9%, and the Real Estate Select Sector SPDR Fund was up 0.1%. Bitcoin was declining 1.8% to $102,955, and the yield for 10-year US Treasuries was dropping 2.4 basis points to 4.37%. President Donald ...
CIBC's Ali Jaffery and Katherine Judge noted all eyes will be on the CPI report Tuesday to see if core measures show a sufficient enough moderation in the monthly pace to allow the Bank of Canada to cut in July. According to the same duo, the GDP data for April next Friday is likely to show no growth.
Apollo Global Management (APO) signed an agreement with Electricite de France SA to purchase up to 4.5 billion pounds of bonds through a private placement, helping the utility company finance its UK investments over the next three years, particularly the Hinkley Point C project, EDF said Friday.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each up 0.1%. The Philadelphia Housing Index was adding 0.8%, and the Real Estate Select Sector SPDR Fund was up 0.1%. Bitcoin was declining 1.8% to $102,898, and the yield for 10-year US Treasuries was dropping 3 basis points to 4.37%. President Donald Trump will...
Manufacturing activity in the US Mid-Atlantic region remained in contraction territory in June, while the employment gauge reached its lowest level since May 2020, a survey from the Federal Reserve Bank of Philadelphia showed Friday.
The S&P 500 and Nasdaq were up, while the Dow Jones Industrial Average was down in late-morning trading Friday after Federal Reserve Governor Christopher Waller told CNBC the central bank could rates as early as July. In company news, GMS confirmed Thursday it received an unsolicited proposal from QXO to acquire the company for $95.20 per share.
National Bank of Canada resumed coverage of Keyera (KEYUF) with a sector-perform rating on the company's shares while raising its price target to $45.00 from $43.00 after the oil and gas processing and infrastructure company agreed to acquire the Canadian assets of Plains All American Pipeline for $5.15 billion and closed an offering of subscription receipts.
Brazil's central bank unexpectedly raised the policy rate by 25bps to 15.0% on Wednesday, noted Societe Generale. The BCB also signaled a pause in its tightening cycle to evaluate the cumulative impact of past hikes, but warned it is prepared to raise rates further if necessary, wrote the bank in a note to clients.
The US dollar was mixed against its major trading partners early Friday -- up versus the yen and Canadian dollar, down versus the euro and pound -- following Thursday's holiday. The Philadelphia Federal Reserve's manufacturing reading for June is due to be released at 8:30 am ET, followed by leading indicators data at 10:00 am ET.
Cargojet (CGJTF) overnight Thursday said Morningstar DBRS assigned the company an investment-grade credit rating of BBB with a stable trend. Morningstar cited its contracted recurring revenue profile, efficient operations, leading market position in the Canadian domestic overnight air cargo market, and commitment to maintaining leverage within its publicly stated target range.
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.
Log In Required
Publication Date