The Institute for Supply Management's Chicago purchasing managers' index reading fell slightly to 40.4 in June from 40.5 in May, compared with an expected increase to a reading of 42.9 in a survey compiled by Bloomberg as of 7:50 am ET.
Sanchez said the GFOA's debt committee in particular is a place where there could be discussion about what kind of controls are necessary to address the situation.?
Shigeru Ishiba, the Prime Minister of Japan, is contemplating a proposal from President?Donald Trump?to purchase American oil to address the trade imbalance between the two nations. What Happened: Ishiba acknowledged the suggestion but emphasized the need for a more detailed assessment. The Japanese PM stated, ?It is a possibility that requires further, more detailed consideration.
Strategists from?JPMorgan (JPM) have voiced concerns that the much-awaited Federal Reserve interest-rate cuts might not be as beneficial for stocks as investors hope. What Happened: ?JPMorgan (JPM) strategists, led by Mislav Matejka,?observed a growing anticipation of interest rate cuts from the Fed. The strategists outlined three possible scenarios for the rate cuts.
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 $7 million offering from Kings Point, N.Y., records a Flood Score of 4.6 out of 5.0, ICE reports.
Consumer stocks were mixed premarket Monday, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) 0.1% higher recently. Carnival shares were up more than 1% after the company said it launched a private offering of 1 billion euros of new senior unsecured notes due 2031.
Consumer stocks were leaning lower premarket Monday with the Consumer Staples Select Sector SPDR Fund down 0.3% and Consumer Discretionary Select Sector SPDR Fund declining 0.02% recently. Carnival shares were up more than 1% after the company said it launched a private offering of 1 billion euros of new senior unsecured notes due 2031. MT Newswires does not provide investment advice.
Working out the differences between the Senate and House budget bills might result in lawmakers reaching for ways to pay for extending tax cuts and finance new programs which could put tax-exempt munis back on the negotiating table.
Tempus AI (TEM) said Monday it plans to offer $400 million of convertible senior unsecured notes due July 15, 2030, in a private placement. Initial purchasers have been granted a 13-day option to purchase up to $60 million in additional notes.
Major US bank stocks were up pre-bell Monday after the Federal Reserve said they passed the central bank's annual stress test. "Large banks remain well capitalized and resilient to a range of severe outcomes," Fed Vice Chair for Supervision Michelle Bowman said Friday.
Vodafone Group (VOD) launched an up to 2 billion euro multi-currency debt tender and released initial terms for a multi-tranche offering of euro and sterling benchmark bonds, Bloomberg News reported Monday. The company wants to raise three benchmark bonds in euros and one sterling-denominated benchmark note, a person familiar with the matter told Bloomberg.
Asian stock markets fluctuated on Monday as traders weighed central bank outlooks, Chinese manufacturing data, and signals from New York. Tokyo and Shanghai finished in the green, while Hong Kong fell back. In Japan, the Nikkei 225 finished up 0.8% as traders weighed comments from US central bankers that monetary easing could be in the cards.
US equity investors will focus on the jobs data in this holiday-shortened week, apart from keeping an eye on President Donald Trump's trade deals and the passage of his 'Big Beautiful Bill' tax-cut bill. * Nonfarm payrolls and related labour market readings for June are due Thursday because of the July 4 holiday.
Carnival said Monday it launched a private offering of 1 billion euros of new senior unsecured notes due 2031. The company expects to use the proceeds to fully repay the borrowings its first-priority senior secured term loan facility maturing in 2027 and to repay part of the borrowings under its first-priority senior secured term loan facility maturing in 2028.
Issuance for the week of June 30 is estimated at $2.495 billion, with $2.039 billion of negotiated deals and $456.3 million of competitive deals on tap, according to LSEG.
In Canada, a relatively quiet week will still feature the release Thursday of the merchandise trade balance for May. National Bank said lower energy prices likely continued to impact nominal exports during the month, but added this should have been offset by a partial rebound in other categories. several export segments experienced sharp declines in April following the U.S. administration's imp...
Financial stocks rose in late Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund both up 0.1%. The Philadelphia Housing Index added 0.5%, and the Real Estate Select Sector SPDR Fund increased 0.3%. Bitcoin eased 0.1% to $106,906, and the yield for 10-year US Treasuries rose 3 basis points to 4.28%. In economic news, President Donald Trump said on Tr...
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 0.4% and the Financial Select Sector SPDR Fund up 0.3%. The Philadelphia Housing Index was climbing 0.8%, and the Real Estate Select Sector SPDR Fund added 0.6%. Bitcoin was shedding 0.1% to $107,295, and the yield for 10-year US Treasuries was up slightly at 4.26%. In economic news, Trump told rep...
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.
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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