Over at CIBC, Ali Jaffery and Katherine Judge noted a quiet week ahead for economic data -- markets here will be closed for Canada Day on Tuesday -- with the trade data for May due Thursday expected to narrow but remain elevated as a result of tariffs, with the massive drop off in exports in April contributing to the decline expected for Q2 GDP.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund up 0.6%. The Philadelphia Housing Index was climbing 1.2%, and the Real Estate Select Sector SPDR Fund added 1%. Bitcoin was shedding 0.1% to $107,295, and the yield for 10-year US Treasuries was 1.1 basis points lower at 4.24%. In economic news, Trump...
National Bank of Canada on Friday reiterated its outperform rating on the shares of Rogers Communications while raising its price target to $53.00 from $52.00 ahead of the company's second-quarter financial results.
US consumer sentiment rose for the first time in six months in June, final survey results from the University of Michigan showed Friday, confirming its initial findings. The main sentiment index jumped to 60.7 this month from 52.2 in May. Initial survey results released earlier this month showed that sentiment in June rose to 60.5, which was the consensus in a Bloomberg poll for the final reading.
HA Sustainable Infrastructure Capital (HASI) reported Friday the pricing terms of its tender offers for its 3.375% senior notes due 2026 and 8.00% green senior unsecured notes due 2027. Holders who tendered in their notes by June 26 will receive $984.94 for the 2026 senior notes and $1,044.14 for the green senior unsecured 2027 notes per $1,000 principal amount, the company said.
The first five months of Donald Trump?s presidency have coincided with one of the steepest collapses in the U.S. dollar in over three decades, as economic contraction, surging deficits and political friction with the Federal Reserve hammered investor confidence in the greenback.
A Kansas state legislative council will meet next month to keep a 2024 bond-financing law alive at the request of the Missouri-based Kansas City Chiefs.
Vizsla Silver's (VZLA) price target increased to C$6 from $5.75 while its Outperform rating remained unchanged at National Bank of Canada in a Thursday note entitled 'Step Change in Liquidity De-risks Development Financing'.
HA Sustainable Infrastructure Capital (HASI) said Friday that it increased its previously announced tender offer to purchase outstanding senior notes to $700 million from $500 million. The cash tender offer is for $1 billion of 3.375% senior notes due 2026 and $750 million 8% green senior unsecured notes due 2027.
Consumer spending unexpectedly declined last month as outlays on goods turned negative, while the Federal Reserve's preferred inflation metric accelerated annually and sequentially, government data showed Friday. Personal consumption expenditures decreased 0.1% in May, following a 0.2% gain the month before, the Bureau of Economic Analysis said in a report.
The University of Michigan consumer sentiment index was revised upward on Friday to a reading of 60.7 for June from the 60.5 print in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg as of 7:35 am ET.
The latest reading in Canadian April gross domestic product pointed to a decline of 0.1% month over month in activity, following an upwardly revised 0.2% pace of growth in March, said Desjardins after Friday's data. Just 10 of the 20 industrial sectors posted growth in April.
The resilience that the Canadian economy was previously showing in the face of United States tariffs and related uncertainty appears to be fading, said CIBC after Friday's release of gross domestic product data. April GDP posted a 0.1% month-over-month decline, which was two ticks weaker than the marginal increase alluded to by the advance estimate.
Canadian real gross domestic product edged down 0.1% month over month in April, following a 0.2% month-over-month increase in March, said the country's statistical agency on Friday. April contraction was worse than a flat consensus reading provided by MUFG.
Canada updates the gross domestic product figures for April and May at 8:30 a.m. ET Friday, which will provide a better sense of how the economy is tracking in Q2, said Scotiabank. April was previously guided by Statistics Canada to be up by 0.1% month-over-month seasonally adjusted.
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 -- ahead of the release of personal income, spending and price data for May at 8:30 am ET.
The April gross domestic product report at 8:30 a.m. ET is the key release in Canada on Friday, said Bank of Montreal. The bank noted that tariff uncertainty peaked in April, which likely weighed heavily on economic activity. Accordingly, wholesale and manufacturing volumes slid, though retail sales scratched out a decent gain.
The Governing Board of Mexico's central bank decided to cut the policy interest rate in a divided decision by 50 basis points to 8.00% late Thursday, in line with consensus expectations, said Scotiabank.
Public Storage (PSA) said Thursday that its Public Storage Operating unit has priced a public offering of $875 million aggregate principal amount of senior notes. The notes will be guaranteed by the parent company and will be issued in two tranches, according to the statement.
US benchmark equity indexes ended higher on Thursday amid growing investor expectations of three interest-rate cuts by year-end. * Media reports claimed that US President Donald Trump could announce the next Federal Reserve chair as early as September, which added pressure on the dollar. * The US dollar fell on Thursday amid continued stability in the Middle East.
Investors added $79.6 million to municipal bond mutual funds in the week ended Wednesday, following?$110 million of inflows the prior week, according to LSEG Lipper data.
US durable goods orders increased more than expected in May, buoyed mainly by robust demand for commercial planes, government data showed Thursday. Orders for tangible items with an average life of at least three years rose 16% sequentially to about $343.59 billion last month, the Census Bureau said. The consensus was for an 8.5% increase in a survey compiled by Bloomberg.
The Federal Home Loan Bank of San Francisco today announced a $52.6 million investment in a Fannie Mae bond issuance that will support the continuing affordability of 230 housing units for very low-income residents living near Fisherman?s Wharf in San Francisco.
Financial stocks rose in late Thursday afternoon trading with the NYSE Financial Index adding 0.8% and the Financial Select Sector SPDR Fund up 0.7%. The Philadelphia Housing Index gained 0.6%, and the Real Estate Select Sector SPDR Fund fell 0.7%. Bitcoin fell 0.3% to $107,417, and the yield for 10-year US Treasuries declined 3.8 basis points to 4.26%. In economic news, The Wall Street Journal...
Financial stocks were rising in late Thursday afternoon trading, with the NYSE Financial Index adding 0.8% and the Financial Select Sector SPDR Fund up 0.6%. The Philadelphia Housing Index was increasing 0.6%, while the Real Estate Select Sector SPDR Fund was falling 0.9%. Bitcoin fell 0.3% to $107,417, and the yield for 10-year US Treasuries declined 4 basis points to 4.25%. In economic news, ...
Richmond Fed President Tom Barkin said that he expects upward pressure on prices due to tariffs but said that monetary policy is well positioned to deal with the impact. Fed Governor Michael Barr repeated that there is uncertainty about tariff effects but noted that monetary policy is "well positioned" to allow the Federal Open Market Committee time to see how those effects unfold.
Soon after it sold $687.3 million of bonds, Chicago returned to market with $82.55 million for housing and economic development in a deal set to close Monday.
The third estimate of Q1 GDP showed a 0.5% decline, a downward revision from a 0.2% drop in the previous estimate, with consumption revised lower. There were upward revisions to net exports and government spending, but downward revisions to residential fixed investment and private inventories.
Hays County's Nov. 5 election for nearly $440 million of bonds, which won voter approval, was voided by a state judge due to an open meetings act violation.
US benchmark equity indexes were higher intraday amid a report that President Donald Trump is considering naming a replacement for Federal Reserve Chair Jerome Powell earlier than usual. The Dow Jones Industrial Average and the Nasdaq Composite were up 0.8% each at 43,330.7 and 20,136.6, respectively, after midday Thursday.
Gold edged higher mid-afternoon on Thursday as the dollar fell to the lowest in more than three years on expectations the Federal Reserve will move to cut interest rates this year despite concerns over the central bank's independence amid attacks from U.S. President Donald Trump. Gold for August delivery was last seen up US$3.90 to US$3,347.00 per ounce.
Financial stocks were rising in Thursday afternoon trading, with the NYSE Financial Index adding 0.8% and the Financial Select Sector SPDR Fund up 0.6%. The Philadelphia Housing Index was increasing 0.4%, and the Real Estate Select Sector SPDR Fund was shedding 0.6%. Bitcoin was slightly higher at $107,309, and the yield for 10-year US Treasuries was down 3.4 basis points at 4.26%. In economic ...
National Bank of Canada maintained its outperform rating and C$5.00 price target on the shares of Zedcor (ZDCAF). The bank said it hosted investor meetings in New York with Zedcor's Chief Executive Officer, Todd Ziniuk, and Chief Financial Officer Amin Ladha.
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund up 0.6%. The Philadelphia Housing Index was increasing 0.2%, and the Real Estate Select Sector SPDR Fund was shedding 0.6%. Bitcoin was slightly higher at $107,309, and the yield for 10-year US Treasuries was down 3.4 basis points at 4.26%. In econom...
US equity indexes rose as growing expectations of three interest-rate cuts by year-end boosted investor sentiment, pushing government bond yields and the dollar lower after midday Thursday. The Nasdaq climbed 0.7% to 20,108.8, and the S&P 500 added 0.7% to 6,131.9, approaching their all-time highs.
Senator Joni Ernest has reintroduced the Modernizing Agricultural and Manufacturing Bonds Act, long- simmering bipartisan legislation backed by the CDFA and BDA.
Gross domestic product growth in Q1 accelerated compared with the last quarter of 2024, but this shouldn't be seen as a sign of strength for the Quebec economy, said National Bank of Canada.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.77%. ?Borrowers should find comfort in the stability of mortgage rates, which have only fluctuated within a narrow 15-basis point range since mid-April.
National Bank of Canada maintained an outperform rating and C$6.50 price target on the shares of Tamarack Valley Energy (TNEYF), as the bank provided highlights for the company's Wednesday investor day.
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.
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