Financial stocks rose in Tuesday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.1%. The Philadelphia Housing Index climbed 1.3%, and the Real Estate Select Sector SPDR Fund added 1.4%. Bitcoin fell 2.4% to $113,515, and the yield for 10-year US Treasuries dropped 3.9 basis points to 4.30%. In economic news, July housing starts rose by 5.2...
Financial stocks rose in Tuesday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each gaining 0.1%. The Philadelphia Housing Index climbed 1.3%, and the Real Estate Select Sector SPDR Fund added 1.4%. Bitcoin fell 2.4% to $113,515, and the yield for 10-year US Treasuries dropped 3.9 basis points to 4.30%. In economic news, July housing starts rose by 5....
US housing starts unexpectedly increased in July amid gains in single- and multi-family units, though building permits dropped, government data showed Tuesday. Housing starts rose 5.2% sequentially to a seasonally adjusted annual rate of 1.43 million units last month, according the Census Bureau and the Department of Housing and Urban Development.
Latin American economies entered Q3 with clear signs of weakening momentum, said Societe Generale. Chile's growth slowed in Q2, with negative monthly activity at quarter end, while Colombia's gross domestic prodcut and activity fell short of expectations, suggesting a negative carryover effect for Q3, wrote the bank in a note to clients.
The Toronto Stock Exchange is down 41 points at midday, with most sectors lower. Healthcare and info tech are the biggest decliners, down 1.4% and 1%, respectively, followed by miners, down 0.9%. Industrials, up 0.9%, is the biggest gainer. TD Economics said headline CPI inflation for July came in at 1.7%, cooling from the 1.9% in June and below expectations for a 1.8% print.
Measures of core inflation were softer in July, but it's just one set of readings ahead of a lot of further information on the road to the next Bank of Canada decision on Sept. 17, said Scotiabank. That's probably why the market reactions on Tuesday after the release of the consumer price index were fairly muted, noted the bank.
Canadian inflation was slightly weaker than expected in July, with the modest monthly increase causing the 12-month measure to fall by more than economists had anticipated, said National Bank of Canada. Core measures were also weaker than forecasted, with the trimmed consumer price index falling unexpectedly by one-tenth of a percentage point over the month, noted the bank.
An easing in inflationary pressures during July means that Canada has successfully cleared one obstacle on the path towards a potential September interest rate cut, said CIBC.
RBC Capital Markets, maintained its sector-perform rating and $9.00 price target on the shares of Obsidian Energy (OBE) as the oil and gas producer cut debt. The company announced that it has elected to redeem $30 million of its outstanding $110.8-million 11.95% senior unsecured notes on Aug. 29.
State-level data released by the Bureau of Labor Statistics Tuesday showed the unemployment rate fell in two states in July, rose in one and held steady elsewhere. The only unemployment rate declines were in Colorado and Alabama, where it fell by 0.2 percentage point each.
Equity markets reached new highs last week, recovering from the temporary hiccup. The Core Consumer Price Index came in hotter than expected. The market overwhelmingly expects the current data to support the Fed?s rate cut in September.
Canadian headline consumer price index inflation for July came in at 1.7% year-on-year, cooling from the 1.9% in June and below expectations for a 1.8% year over year print, said TD. Gasoline prices fell 0.7% on the month, on lower geopolitical tensions and increased OPEC+ output, and were a drag on the index.
The Canadian headline consumer price index rose 0.30% month over month in July, leaving the annual rate slowing from 1.9% to 1.7%, noted Desjardins after Tuesday's release of CPI data.
Gold edged higher early on Tuesday, sticking to a tight range even as the dollar moved down after U.S. housing starts rose to a five-month high in July, topping expectations, while safe-haven buying eases on hopes for an potential ceasefire in Russia's war on Ukraine.
The deputy treasurer of the Commonwealth of Massachusetts will be inducted into The Bond Buyer's Hall of Fame of Municipal Finance in Boston on Sept. 30.
An easing in inflationary pressures during July means that one obstacle on the path towards a potential September Bank of Canada interest rate cut has been "successfully cleared," said CIBC after Tuesday's release of consumer price index data.
The Canadian consumer price index rose 1.7% on a year-over-year basis in July, down from a 1.9% increase in June, said the country's statistical agency on Tuesday. July's CPI was in line with a consensus figure provided by Mitsubishi UFG.
July housing starts rose by 5.2% from the previous month to a 1.428 million annual rate, compared with expectations compiled by Bloomberg as of 7:40 am ET for a 1.297 million rate after an increase to a 1.358 million pace in June. Building permits fell by 2.8% to a 1.354 million rate in July, compared with the 1.386 million rate expected and following a slight drop to a 1.393 million rate in June.
Canada's youth unemployment rate rose to 14.6% in July, the highest rate since 2010, aside from the extreme distortion of the first year of the COVID-19 pandemic, said Bank of Montreal. Before 2020, the highest youth jobless rate was set in 1982 at just above 20%. But that sky-high rate was accompanied by the highest overall jobless rate of the post-war era, noted the bank.
Speculation is growing over whether Canada's central bank could resume interest rate cuts in September, as weak economic data from the United States suggests the U.S. Federal Reserve will cut rates next month, said Morningstar. Canada's economy is inextricably tied to the economic well-being of the U.S., its largest trading partner, noted Morningstar.
Societe Generale asked if Canadian consumer price index data can inflict more pain on global bonds on Tuesday. Canada will release July's CPI at 8:30 a.m. ET on Tuesday. The consensus for core is for a rise to 3.1% year over year from 3.0%, said the bank.
The US dollar fell against its major trading partners early Tuesday, except for a small gain versus the Canadian dollar, ahead of the release of home construction data for July at 8:30 am ET and weekly Redbook same-store sales at 8:55 am ET.
Canada releases July inflation at 8:30 a.m. ET on Tuesday, noted ING. Expectations are for an acceleration to 0.3% month over month in headline, but a slowdown in year-over-year terms to 1.8%, said the bank.
Reliance said Tuesday it has entered into a $400 million unsecured term loan facility maturing in August 2028. The loan was used to refinance the company's $400 million senior unsecured notes that matured Aug. 15, Reliance said. MT Newswires does not provide investment advice.
Canadian housing starts jumped to 294,000 annualized units. in July, one of the highest levels in the 35-year history of the series, noted Bank of Montreal after Monday's data from Canada Mortgage and Housing Corp.. Smoothing out the monthly volatility, it's clear that starts have held up well above pre-pandemic levels, said the bank.
loanDepot said Tuesday it has completed a $150 million private offering of secured term notes through its subsidiary, loanDepot GMSR Master Trust. The company said the notes, backed by mortgage servicing rights tied to Ginnie Mae-backed loans, carry a variable interest rate based on SOFR plus a margin and mature in July 2030.
Equities ended little changed on Monday, with traders awaiting Federal Reserve Chair Jerome Powell's speech and retail earnings due later this week. The Dow Jones Industrial Average edged down 0.1% to 44,911.8. The S&P 500 and the Nasdaq Composite finished near the flat line at 6,449.2 and 21,629.8, respectively. Powell's speech is scheduled for Friday in Jackson Hole, Wyoming.
Casella Waste Systems, Inc. (CWST), a regional solid waste, recycling and resource management services company, today announced that it has commenced the remarketing of $37.5 million aggregate principal amount of New York State Environmental Facilities Corporation Solid Waste Disposal Revenue Bonds Series 2020R-1 issued on September 2, 2020 in the stated principal amount of $40.0 million.
Gibson Energy (GBNXF), an oil infrastructure and marketing company, after hours on Monday said it will seek $375 million in an offering of 4.45% senior unsecured notes due August 20, 2032. The offering is taking place on a private placement and agency basis and is expected to close on August 20, subject to customary closing conditions.
"If unfavorable economic numbers ... are released next month, we should expect a hold on any rate cuts and a possible rate hike to follow, putting a damper on any positive returns for the rest of the year," said Jason Wong, vice president of municipals at AmeriVet Securities.
All financial figures are in Canadian dollars unless otherwise noted. Gibson Energy Inc. (GBNXF) announced today that it has agreed to issue $375 million of 4.45% senior unsecured notes due August 20, 2032. The offering is expected to close on August 20, 2025, subject to customary closing conditions.
Financial stocks were mixed in late Monday afternoon trading with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund adding 0.2%. The Philadelphia Housing Index fell 0.2%, and the Real Estate Select Sector SPDR Fund dropped 0.9%. Bitcoin declined 1% to $116,323, and the yield for 10-year US Treasuries rose 2 basis points to 4.341%. In economic news, the National Asso...
Financial stocks were mixed in late Monday afternoon trading with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund adding 0.1%. The Philadelphia Housing Index fell 0.2%, and the Real Estate Select Sector SPDR Fund dropped 0.9%. Bitcoin declined 1% to $116,323, and the yield for 10-year US Treasuries rose 2 basis points to 4.341%. In economic news, the National Asso...
A rare bond market signal just re-emerged in mid-August 2025, one not seen since 1998 ? and back then, it was the calm before one of the most explosive bull markets in U.S. history. The spread between U.S. investment-grade corporate bonds and Treasury yields has collapsed to just 75 basis points, the lowest level since June 2008.
US benchmark equity indexes were little changed after midday Monday as Wall Street awaited Federal Reserve Chair Jerome Powell's speech and earnings by some major retailers due later in the week.
The Federal Reserve is likely to keep its benchmark lending rate unchanged this year, but weaker jobs data for August may tip the scales toward a policy easing next month, Morgan Stanley said in a Monday note. The investment firm's prediction for the US central bank to stay put comes despite last week's consumer inflation data showing a slowdown in price increases in July on a sequential basis.
Homebuilder confidence in the US unexpectedly fell in August amid high mortgage rates and persistent supply-side challenges, according to National Association of Home Builders and Wells Fargo data released Monday. The housing market index, which covers new single-family homes, decreased by one point sequentially to 32 this month.
Canada refreshes inflation tracking with the July consumer price index report due on Tuesday, at 8:30 a.m. ET, noted Scotiabank. It's one of two CPI readings before the next Bank of Canada decision on Sept. 17, with the next one arriving the day before, such that not much rests on just this one reading, stated Scotiabank.
The European stock markets closed mixed in Monday trading as The Stoxx Europe 600 edged 0.01% higher, Germany's DAX was down 0.23%, the FTSE 100 rose 0.21%, France's CAC dropped 0.50%, and the Swiss Market Index fell 0.26%. The S&P Global UK Consumer Sentiment Index reading rose to 47.0 in August from 45.1 in July, according to S&P. However, it remains below the 50-point threshold that indicate...
All three major US stock indexes were down in late-morning trading Monday, as investors await news coming from Federal Reserve officials at the annual economic policy symposium taking place this week in Jackson Hole, Wyoming.
The gross domestic product growth of Switzerland "significantly" slowed in Q2 as United States tariffs hit Swiss exports, said UBS. The bank's GDP forecast for Switzerland assumes 15% U.S. tariffs on Swiss goods -- excluding gold and pharmaceuticals. If tariffs remain at 39%, UBS believes Swiss GDP growth could be reduced by up to 0.4 percentage point.
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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