Federal Reserve officials last month offered mixed views on the monetary policy path ahead, with opinions ranging from "some reduction" in interest rates this year to no cuts at all, minutes from the central bank's June 17-18 meeting showed Wednesday.
US benchmark equity indexes are on track to close higher on Wednesday after minutes of the Federal Reserve's latest monetary policy meeting show varying opinions on rate cuts.
Financial stocks were advancing in late Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.2%. The Philadelphia Housing Index climbed 2.3%, and the Real Estate Select Sector SPDR Fund was up 0.1%. Bitcoin was increasing 0.9% to $109,915, and the yield for 10-year US Treasuries was dropping 7 basis points to 4.34%. In economic news,...
Federal Reserve officials are concerned that the Trump administration's international trade policies may fuel inflation and complicate the path to interest rate cuts, according to minutes from the June 17-18 Federal Open Market Committee meeting released Wednesday. In discussing inflation risks, FOMC members noted that increased tariffs were likely to exert upward pressure on prices.
Moody's has downwardly revised the outlook for Baltimore's issuer rating and several classes of bonds due to a trend of declining fund balance levels in a city dependent on a major international shipping port.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index up 0.2% and the Financial Select Sector SPDR Fund adding 0.3%. The Philadelphia Housing Index was climbing 2.4%, while the Real Estate Select Sector SPDR Fund was adding 0.1%. Bitcoin was increasing 0.1% to $109,162, and the yield for 10-year US Treasuries was dropping 6.3 basis points to 4.35%. In eco...
US benchmark equity indexes were higher intraday as markets awaited minutes of the Federal Reserve's latest monetary policy meeting, while Nvidia (NVDA) became the first company to reach a market capitalization of $4 trillion. The Nasdaq Composite was up 0.7% at 20,553.3 after midday Wednesday, while the S&P 500 rose 0.3% to 6,242.8. The Dow Jones Industrial Average advanced 0.2% to 44,326.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund adding 0.2%. The Philadelphia Housing Index was climbing 1.7%, while the Real Estate Select Sector SPDR Fund was easing 0.1%. Bitcoin was increasing 0.2% to $109,178, and the yield for 10-year US Treasuries was dropping 6 basis points to 4.36%. In econo...
Michigan's Great Lakes Water Authority went to market in June with roughly a billion dollars of bonds, part of a complex transaction that included a tender.
Mexican annual headline inflation eased to 4.32% year over year in June, down from 4.42% in May, although it came in marginally above market expectations of 4.30%, said Scotibabank. In contrast, core inflation -- which excludes volatile items such as energy and agricultural products -- accelerated to 4.24% year over year from 4.06%, surpassing the 4.21% consensus.
National Bank of Canada on Tuesday downgraded its rating on the shares of Ero Copper (ERO) to sector perform from outperform leaving its $24.50 price target remained unchanged after the company reported second-quarter production results. Ero's second-quarter production of 6,400 tonnes from the Tucuma mine in Brazil missed the bank's forecast of 7,840 tonnes.
Mastercard's Vocalink unit was fined 11.9 million British pounds by the Bank of England for failing to meet risk and governance requirements, the Bank of England said in a statement Wednesday. The fine stems from Vocalink's failure to fully comply with a remediation order by a February 2022 deadline due to weak risk management, governance, and internal oversight, the statement said.
The New Zealand dollar fluctuated after the Reserve Bank of New Zealand held rates early Wednesday, and is now back at Tuesday's 0.600 close, said ING. Bets on a rate cut were close to zero, and there isn't anything particularly surprising in the RBNZ statement, wrote the bank in a note.
Malaysia's central bank cut its overnight rate by 25bps on Wednesday after a divided consensus was split between a hold and a cut and it warned of downside risks to growth with a dovish bias, said Scotiabank. MT Newswires does not provide investment advice.
The Reserve Bank of Australia surprised market participants by holding the cash rate steady at 3.85% on Tuesday, said UBS. Also, for the first time, the RBA published the vote count, which showed a 6-3 split, wrote the bank in a note to clients. The AUDUSD rallied by 0.7%-0.8% after the decision, nearing its year-to-date high of 0.659, pointed out UBS.
Alibaba Group (BABA) said Wednesday it completed its $12.02 billion Hong Kong dollars private offering of bonds exchangeable into shares of its subsidiary Alibaba Health Information Technology. The bonds, which will mature on July 9, 2032, carry a zero coupon and have an initial exchange price of HK$6.23 per Alibaba Health share, the company said.
Uruguay's Central Bank late Tuesday said it cut the benchmark policy rate by 25bps to 9.0% amid falling inflation. The country's inflation fell to 4.59% in June, in line with the BCU's target, pointed out the central bank in its policy statement. The BCU revised its inflation projections downward, seeing inflation at around the 4.5% target for the next two years.
The outlook for sterling, the thrid-worst performing G10 currency in July, has worsened with increased risks of a period of underperformance ahead, according to Mitsubishi UFG. MUFG expects to start seeing an increase in the monthly flow of United Kingdom economic data from Friday, when markets will have the gross domestic product data for May, along with manufacturing activity and trade.
Cryptocurrency bettors now estimate a 50% possibility that the Federal Reserve will cut interest rates for the first time in 2025 during its September meeting. What happened: As of this writing, the odds of a 25 basis point cut were at 50% on the decentralized prediction platform Polymarket.
Financial stocks fell in late Tuesday afternoon trading, with the NYSE Financial Index down 0.2% and the Financial Select Sector SPDR Fund shedding 0.8%. The Philadelphia Housing Index rose 0.9%, and the Real Estate Select Sector SPDR Fund increased 0.2%. Bitcoin advanced 0.7% to $109,018, and the yield for 10-year US Treasuries rose 2 basis points to 4.42%. In economic news, President Donald T...
Financial stocks fell in late Tuesday afternoon trading, with the NYSE Financial Index down 0.2% and the Financial Select Sector SPDR Fund shedding 0.8%. The Philadelphia Housing Index rose 0.9%, and the Real Estate Select Sector SPDR Fund increased 0.2%. Bitcoin advanced 0.7% to $109,018, and the yield for 10-year US Treasuries rose 2 basis points to 4.42%. In economic news, President Donald T...
Burford Capital (BUR) said Tuesday its unit Burford Capital Global Finance priced an upsized private offering of $500 million senior notes due 2033, bearing a rate of 7.5%. Burford Capital (BUR) plans to use the net proceeds to repay its 6.125% bonds of Burford Capital Finance due 2025 and the remainder for general corporate purposes, according to a statement.
Central banks remain a key support in the gold market, while silver continues to attract investor inflows and platinum enters a potential consolidation phase, according to the latest update from precious metals specialist Heraeus. In May 2025, central banks added a net 20 tons of gold to their reserves, led by Kazakhstan, T?rkiye, and Poland.
Financial stocks fell in Tuesday afternoon trading with the NYSE Financial Index dropping 0.4% and the Financial Select Sector SPDR Fund shedding 0.8%. The Philadelphia Housing Index rose 0.5%, and the Real Estate Select Sector SPDR Fund eased 0.3%. Bitcoin advanced 0.4% to $108,805, and the yield for 10-year US Treasuries rose 3.4 basis points to 4.43%. In economic news, President Donald Trump...
Financial stocks were lower in Tuesday afternoon trading, with the NYSE Financial Index down 0.3% and the Financial Select Sector SPDR Fund shedding 0.7%. The Philadelphia Housing Index was adding 0.5%, and the Real Estate Select Sector SPDR Fund eased 0.2%. Bitcoin was increasing 0.4% to $108,805, and the yield for 10-year US Treasuries was rising 3 basis points to 4.425%. In economic news, Pr...
Societe Generale said it expects a unanimous pause at 2.50% at the upcoming Bank of Korea Monetary Policy Committee meeting on Friday. In terms of forward guidance, the bank believes all six MPC members will be open to a rate cut within the next three months due to three main reasons. The market also expects a pause with a persistent hawkish tone, stated SocGen.
California local, state and federal officials blasted the Trump administration and congressional GOP for blocking supplemental recovery aid after the wildfires.
Consumer expectations for one-year US inflation growth slowed to a 3% gain in June from a 3.2% gain in the previous month, according to a survey released by the New York Federal Reserve Bank on Tuesday. The median inflation expectations remained at a 3.0% gain for the three-year period and remained at a 2.6% gain for five years ahead.
Dundee Precious Metals (DPMLF) on Tuesday reported a drop in gold and copper production in the second quarter. The company produced 61,100 ounces of gold in the three months ended June 30, falling from 67,644 ounces of gold produced a year ago. Dundee kept its Outperform rating and $28.50 price target at National Bank of Canada following the news.
I-80 Gold (IAUX) maintained its Outperform rating and $2 price target at National Bank of Canada. The bank said its thesis for I-80 is supported by the company's resource endowment with exploration upside and multiple growth levers. I-80 provided a progress update on its project development plan across its portfolio in Nevada.
An administrator appointed by a Mali court of Barrick Mining's Loulo-Gounkoto complex plans to sell 1 metric ton of gold from the site's storeroom to restart operations after a nearly six-month suspension, Reuters reported Tuesday, quoting two sources.
Consumer stocks were mixed in recent trading Tuesday with the Consumer Staples Select Sector SPDR Fund (XLP) 0.6% lower and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.2%. Carnival shares were 0.5 higher after the company priced a $3 billion private offering of 5.75% senior unsecured notes due 2032.
Gold edged lower early on Tuesday as U.S. President Donald Trump renewed tariff threats against the country's trading partners while again delaying imposing the levies, moves that offset a rising dollar and higher treasury yields. Gold for August delivery was last seen down US$6.60 to US$3.336.20 per ounce.
Mexico's central bank delivered a 50bps cut in its June decision, but modified the forward guidance, leaving it more "ambiguous," said Deutsche Bank. The bank envisions 25bp cuts in August and September, followed. by a pause in November and subsequent 25bps cuts in lockstep with the United States Federal Reserve.
Consumer stocks were edging higher pre-bell Tuesday, with the Consumer Staples Select Sector SPDR Fund slightly advancing and the Consumer Discretionary Select Sector SPDR Fund up 0.2% recently. Carnival shares were 0.7% higher after the company priced a $3 billion private offering of 5.75% senior unsecured notes due 2032. MT Newswires does not provide investment advice.
There was a big upside inflation surprise on Monday in Sweden, which has killed expectations for another rate cut from the Riksbank as soon as next month, said MUFG.
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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