Longer-term Treasury yields may rise despite the anticipated Fed rate cuts, potentially offsetting the expected bullish effects on BTC and other risk assets.
US equity indexes ended higher this week, with all three benchmark gauges hitting all-time highs, as market expectations for interest-rate cuts this year imply the Federal Reserve will prioritize tackling the weak labor market over lingering inflationary pressures. * The S&P 500 closed at 6,584.29 on Friday versus 6,481.50 a week ago.
US equity indexes traded mixed, while government bond yields rose ahead of the close on Friday as the outlook for interest rate cuts next week remains elevated amid downbeat consumer sentiment and accelerating inflation expectations.
BlackRock's Rick Rieder, chief investment officer of global fixed income, is among contenders to serve as the next chair of the Federal Reserve after Jerome Powell's term ends in May, Bloomberg reported Friday, citing an administration official.
Financial stocks fell in late Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each down about 0.3%. The Philadelphia Housing Index dropped 2.1%, and the Real Estate Select Sector SPDR Fund eased 0.2%. Bitcoin rose 1.8% to $116,472, and the yield for 10-year US Treasuries gained 5 basis points to 4.06%. In economic news, the University of Michiga...
In Canada, the main event will be the Bank of Canada's monetary policy meeting on Wednesday. National Bank said the central bank is expected to lower its policy rate by 25 basis points in what would be the first rate cut since March, when Canada-U.S. trade uncertainty was at its apex.
Financial stocks fell in late Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each down 0.3%. The Philadelphia Housing Index dropped 1.5%, and the Real Estate Select Sector SPDR Fund eased 0.2%. Bitcoin rose 0.8% to $116,472, and the yield for 10-year US Treasuries gained 5 basis points to 4.06%. In economic news, the University of Michigan's pre...
Next Wednesday, the Bank of Canada and the Fed will both deliver interest rate relief after what "history will judge to be a relatively brief pause", said CIBC's Ali Jaffery, before he added: "A single rate cut isn't enough to meaningfully affect economic outcomes these days, so we expect to hear dovish talk aimed at solidifying expectations for another cut in October, as both central banks reg...
In Canada, Ali Jaffery and Andrew Grantham noted, the central bank is expected on Wednesday to restart interest rate cuts with a 25bp move, and keep the door open to further reductions. The CIBC duo suspect that the CPI data for August released the day before [Tuesday] the BoC meeting would need to surprise significantly to the upside to prevent such an initial rate move.
US benchmark equity indexes were mixed after midday Friday as a survey showed a decline in consumer sentiment, while markets awaited the Federal Reserve's monetary policy decision due next week.
Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index down 0.4% and the Financial Select Sector SPDR Fund off 0.3%. The Philadelphia Housing Index was falling 1.6%, and the Real Estate Select Sector SPDR Fund was easing 0.3%. Bitcoin was increasing 1.1% to $115,841, and the yield for 10-year US Treasuries was rising 6 basis points to 4.07%. In economic news...
California's governor and legislative leaders agreed to extend the state's cap-and-trade program and dedicate one-fourth of the funding to high-speed rail.
In Canada, Ali Jaffery and Andrew Grantham noted, the central bank is expected on Wednesday to restart interest rate cuts with a 25bp move, and keep the door open to further reductions. The CIBC duo suspect that the CPI data for August released the day before [Tuesday] the BoC meeting would need to surprise significantly to the upside to prevent such an initial rate move.
Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index down 0.4% and the Financial Select Sector SPDR Fund off 0.3%. The Philadelphia Housing Index was falling 1.5%, and the Real Estate Select Sector SPDR Fund was easing 0.2%. Bitcoin was increasing 0.2% to $115,873, and the yield for 10-year US Treasuries was rising 6 basis points to 4.07%. In corporate new...
U.S. stocks traded mixed midway through trading, with the Dow Jones index falling more than 200 points on Friday. The Dow traded down 0.44% to 45,904.50 while the NASDAQ rose 0.41% to 22,134.26. The S&P 500 also rose, gaining, 0.01% to 6,587.98. Check This Out: Top 3 Tech & Telecom Stocks That Could Blast Off In September Leading and Lagging SectorsUtilities shares jumped by 0.5% on Friday.
US equity indexes were mixed after midday Friday as investors weighed a drop in the University of Michigan's consumer sentiment to the weakest since May alongside hotter medium-term inflation expectations.
Central Texas Regional Mobility Authority's ratings were raised by Moody's, which, along with S&P, upgraded North East Texas Regional Mobility Authority's.
US consumer sentiment deteriorated to the lowest level since May, reflecting concerns over increasing economic risks and threats to personal finances, preliminary results from a University of Michigan survey showed Friday. The main sentiment index fell to 55.4 in September from 58.2 in August.
Two years ago, some shoppers raised eyebrows when Costco began selling gold bars online. A one-ounce gold bar at Costco on Sept. 6, 2024, sold for around $2,496. The rally in gold prices is being driven by a mix of inflation concerns, geopolitical instability, and growing expectations that the Federal Reserve will cut interest rates soon.
The University of Michigan's preliminary consumer sentiment index fell to 55.4 in September from 58.2 in August, below expectations for a smaller decrease to 58.0 in a survey compiled by Bloomberg as of 7:45 am ET.
Lundin Gold (LUGDF) late Thursday said its president, chief executive officer and director, Ron Hochstein, will step down after 10 years in the role. Jamie Beck, formerly president, CEO and director of Filo Corp., will succeed Hochstein as president, CEO and director effective Nov. 7. Filo Corp. was acquired by BHP and Lundin Mining in January.
First Northwest Bancorp (FNWB) and its subsidiary First Fed Bank are pleased to announce today that Curt Queyrouze will become the Company?s new Chief Executive Officer and President, starting on September 17, 2025. ?It's a privilege to step into this role at a company with such a long-standing reputation.
Russia's central bank on Friday said its Board of Directors decided to cut the key rate by 100 basis points to 17.0%. Russia's central bank disappointed forecasters by cutting by 100bps, noted Scotiabank as the consensus had expected double that amount. Cumulative easing since it began in June now stands at -400bps with the rate set at 17.0%, pointed out the bank.
Though inflation remains high, central banks seem inclined to treat the strength in inflation as transitory, as was the original thinking during the COVID-19 pandemic, said Scotiabank.
The Bank of Canada is set to resume cutting interest rates next week in the wake of a large gross domestic product contraction in Q2 and rising unemployment, said ING. The BoC is slated to release its policy statement at 9:45 a.m. ET Wednesday. Tariffs will continue to weigh on the economy, and with inflation broadly in line with target, ING looks for a 25bps cut, with a further 25bps cut this Q4.
The appelate ruling in favor of the San Juan Unified School District helps clarify what districts can finance under the state laws governing bond elections.
The week is ending with a cautious mood across markets ahead of a week packed with global central bank decisions, said Scotiabank. The Bank of Canada is slated to release its policy statement at 9:45 a.m. ET on Wednesday. Bonds and stocks are both slightly cheapening early Friday, noted the bank.
European bourses tracked sideways midday Friday as traders weighed global easing central-bank postures against geopolitical tensions in the Middle East and Eastern Europe. Property and tech stocks led muted gains, while oil issues lagged.
The benchmark US stock measures were mostly tracking in the red before Friday's open amid increasing investor expectations that the Federal Reserve will lower rates next week following the latest inflation and labor data. The S&P 500 edged down 0.1% and the Dow Jones Industrial Average was off 0.2% in premarket activity, while the Nasdaq was slightly in the green.
Societe Generale in its early Friday economic news summary pointed out: -- US dollar off lows in Asia, 10-year United States Treasury yield recovers from dip below 4.0%. Above forecast increase in weekly jobless claims, tame August core consumer price index cement rate cut next week at the Federal Reserve. -- U.S.-Japan finance ministers joint statement -- commit to transparent currency policies.
Asian stock markets rallied Friday on growing expectations that the US Federal Reserve will cut interest rates at its policy meeting next week. Hong Kong, Shanghai, and Tokyo finished in the green, as did most other regional exchanges. In Japan, the Nikkei 225 finished up 0.9% as traders bought shares related to AI and semiconductor markets.
American Tower (AMT) said late Thursday it priced a public offering of $200 million of senior unsecured notes due 2030 and $375 million of senior unsecured notes due 2035.
US equity indexes hit records on Thursday as the Federal Reserve is expected to focus more on weakness in the labor market than seemingly hot consumer price inflation when it resumes policy easing next week.
US equity indexes rose to fresh record highs Thursday after a sharp increase in weekly jobless claims increased the likelihood of three interest rate cuts by year's end. * Initial jobless claims increased to 263,000 for the week ended Sept. 6, up from a revised 236,000 the prior week, exceeding the 235,000 forecast in a Bloomberg survey, and reaching the highest level since October 2021.
Shares of UWM Holdings Corp (UWMC) are trading higher Thursday afternoon. What To Know: This morning?s economic releases showed a surprising jump in jobless claims to 263,000, the highest level since 2021, signaling a potential cooling in the labor market. This stagflationary environment puts the Federal Reserve in a difficult position.
US equity indexes rise ahead of the close on Thursday amid expectations that the Federal Reserve will look past the seemingly hot August consumer price inflation print and focus more on surging jobless claims.
Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index rising 1.3% and the Financial Select Sector SPDR Fund ahead 1.6%. The Philadelphia Housing Index was climbing 2.3%, and the Real Estate Select Sector SPDR Fund was adding 1.6%. Bitcoin was increasing 0.3% to $114,279, and the yield for 10-year US Treasuries shed 2 basis points to 4.01%. In economic ne...
Sanchez cited affordable housing and "project-based" types of transactions as areas "where we are seeing ? lawyers more openly engaging in structuring that might be problematic."?
Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index rising 1.3% and the Financial Select Sector SPDR Fund ahead 1.6%. The Philadelphia Housing Index was climbing 2.3%, and the Real Estate Select Sector SPDR Fund was adding 1.6%. Bitcoin was increasing 0.3% to $114,279, and the yield for 10-year US Treasuries shed 2 basis points to 4.01%. In economic ne...
The consumer price index rose by 0.4% in August, above expectations for a 0.3% gain, and was up 0.3% excluding food and energy prices, as expected. The gain lifted the year-over-year increase to 2.9% from 2.7% in July, while the core measure was up 3.1% year-over-year, the same as in the previous month.
The rating agency's review was triggered by the city's move to effectively end plans for a seawater desalination project that has $235 million of bonds outstanding.
US benchmark equity indexes were higher intraday following the release of consumer inflation and jobless claims data. The Dow Jones Industrial Average was up 1.4% at 46,104 after midday Thursday, while the S&P 500 rose 0.8% to 6,581.3. The Nasdaq Composite advanced 0.6% to 22,024.
Gold futures fell for a second straight session early Thursday even as the dollar weakened, after a higher-than-expected rise in U.S. consumer prices failed to dent expectations for a Federal Reserve rate cut next week.
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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