The Senate on Monday confirmed Stephen Miran to the Federal Reserve Board in a tight 48-47 vote, multiple media outlets reported Tuesday. Miran will serve the remaining months of former Fed Governor Adriana Kugler's term, which ends in January.
?A new survey of 200 anti-money laundering professionals at U.S. mid-size and community banks reveals a growing gap between confidence and capability in the fight against financial crime. Globally, the United Nations Office on Drugs and Crime estimates that $800 billion to $2 trillion is laundered every year, roughly 2?5% of global GDP.
Crude oil prices were little changed on Tuesday as markets contemplated a potential U.S. Federal Reserve interest rate cut, which could boost oil demand, and the supply impacts of Ukrainian attacks on Russian energy infrastructure.
USA Compression Partners (USAC) said late Monday it priced a private placement of $750 million of 6.25% senior unsecured notes due 2033 at par, for about $742.5 million in expected net proceeds. The company expects the offering to close Sept. 24 and plans to use the proceeds to redeem 6.875% senior notes due 2027 and repay other borrowings. MT Newswires does not provide investment advice.
GlobalFoundries (GFS) today announced that the World Economic Forum has designated its 300mm fab in Singapore as part of the Global Lighthouse Network of advanced manufacturers. GF continuously strives to leverage digital capabilities to improve safety, cost, quality, and productivity.
Five Point Holdings (FPH) said late Monday its Five Point Operating and Five Point Capital subsidiaries have priced $450 million worth of 8% senior notes due 2030. The notes will be issued at par and the issuance is expected to close Sept. 25. The net proceeds from the offering, together with cash on hand, will be used to redeem other debt, the company said.
A panel of DC Circuit Court judges ruled late Monday that the president had not met the stringent statutory requirements to block a lower court injunction, which allowed Federal Reserve Gov. Lisa Cook to remain at her post as her lawsuit challenging her dismissal is litigated.
Keyera (KEYUF), after trade Monday, said it will issue $2.3 billion in senior unsecured notes and $500 million in fixed-to-fixed rate subordinated notes, also referred to as hybrid notes. The senior notes will be issued in four parts: $500 million at 3.702% interest, due in 2030; and $600 million at 4.204%, due in 2033; and $500 million at 4.569%, due in 2035; and $700 million at 5.309%, due in 2055.
Kimco Realty?, a real estate investment trust and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States, today announced the company achieved an ?A-? credit rating with a stable outlook from S&P Global Ratings, making it one of just 13 publicly-listed U.S. REITs with a credit rating of ?A-? or better from either S&P...
A late rally extended gains on the Toronto Stock Exchange and with that brought about a fresh record close Monday as more market watchers believe not only will the Bank of Canada cut its key benchmark interest rate on Wednesday, but will follow that up with another in October, even as National Bank cited tomorroway's inflation report as "a source of uncertainty".
"This was a much-needed rally as the long end struggled throughout the year, but now has been pushed back into positive territory," said Jason Wong, vice president of municipals at AmeriVet Securities.
Financial stocks were softer in late Monday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund easing 0.3%. The Philadelphia Housing Index was falling 1.3%, and the Real Estate Select Sector SPDR Fund was down 0.1%. Bitcoin was declining 0.2% to $115,157, and the yield for 10-year US Treasuries fell 3 basis points to 4.03%. In economic ...
Financial stocks were mixed in late Monday afternoon trading, with the NYSE Financial Index fractionally higher and the Financial Select Sector SPDR Fund easing 0.3%. The Philadelphia Housing Index was falling 1.3%, and the Real Estate Select Sector SPDR Fund was down 0.1%. Bitcoin was declining 0.2% to $115,157, and the yield for 10-year US Treasuries decreased 3 basis points to 4.03%. In econ...
As the Federal Reserve approaches next week?s policy meeting, Wall Street is doing the usual pas de deux around interest rates. VOO is up 13% year-to-date. According to Bloomberg, over $800 billion has flowed into ETFs this year, with nearly $475 billion going into equity funds, bringing the chance of a trillion-dollar annual take within reach.
Gold traded at a record high midafternoon on Monday, rising above US$2,700 as traders await an expected U.S. Federal Reserve interest-rate cut later this week. Gold for December delivery was last seen up US$33.60 to US$3,720.00 per ounce, edging lower from Friday's record close.
The Federal Reserve is expected to cut interest rates consecutively until January, with this week's post-meeting policy guidance likely to signal an easing bias amid worries about the labor market, Morgan Stanley said in a note emailed Monday. Markets reflect near certainty that the Federal Open Market Committee will reduce its policy rate by 25 basis points to 4% to 4.25% on Wednesday.
A TIF fund established by the Alexandria Industrial Development Authority supporting a troubled hotel renovation project in downtown Alexandria, Virginia, is reported to be in default.
The Toronto Stock Exchange is up over 94 points at midday with miners and energy, both up 0.8%, leading gains. Limiting gains is the telecoms sector, which is down 1.2%. All eyes are on central banks in Canada and the U.S. on Wednesday, as both will be making policy announcements on the same day. BMO sees both central banks cutting rates by 25 bps at these meetings.
European stock markets closed mixed in Monday trading as The Stoxx Europe 600 rose 0.4%, Germany's DAX was up 0.15%, the FTSE 100 was off 0.11%, France's CAC gained 0.95%, and the Swiss Market Index was down 0.41%. There was a 12.4 billion euro trade surplus in the euro area in July, down from 18.5 billion euros a year earlier, according to preliminary data from Eurostat, the statistical office...
SoFi Technologies Inc (SOFI) shares are trading higher Monday, hitting a new 52-week high as Wall Street extended record gains, with investors positioning ahead of this week's key Federal Reserve meeting.
Aya Gold & Silver (AYASF) reported Monday new drilling results confirming the discovery of a new gold zone at the Asirem Zone, located west of the Boumadine main trend in Morocco. Results from the new Asirem gold zone include 1.52 grams per tonne gold over 4.3 meters, 1.49 g/t gold over 1.0 meters, and 1.95 g/t over 1.0 meters.
B2Gold Monday confirmed its 2025 annual production guidance despite a reduced target at the Goose mine in Canada. National Bank maintained B2Gold's (BTG) outperform rating and $8 price target, which was based on 4.0x EV/EBITDA NTM.
The Bank of Canada will announce its policy decision on Wednesday, noted RBC. The recent data reinforced the Canadian dollar weakness over the past month, said the bank.
Greystone, a leading national commercial real estate finance company, has provided a $26,320,000 Freddie Mac loan to finance the acquisition of Tiberon Trails apartments, a multifamily property in Merrillville, Indiana.
National Bank of Canada noted Monday Equinox Gold's first gold pour at the Valentine mine in Newfoundland and Labrador. The bank maintained Equinox's outperform rating and $12 price target following the news. The company achieved the milestone in line with the bank's estimate of third quarter.
National Bank of Canada Monday kept Alamos Gold's outperform rating and C$53.50 price target after the company sold its Turkish development projects for US$470 million. The bank said the sale allows Alamos to streamline its portfolio to focus more on North America.
Federal Home Loan Bank of Atlanta is committing $11.7 million in grant funding to support the development of affordable multifamily rental housing across its district.
Canadian existing home sales increased 1.1% month-on-month in August, marking a slowdown from July's 3.9% month-over-month increase, noted TD after Monday's data from the Canadian Real Estate Association. Gains in Quebec, British Columbia and Alberta helped lift national sales. New listings increased 2.6% month over month in August.
Cameco (CCJ) late Friday said it has signed a new long-term agreement to supply natural uranium hexafluoride to Slovenske elektrarne for use in nuclear power plants in Slovakia. National Bank of Canada maintained Cameco's (CCJ) outperform rating and C$115 price target following the news.
New York manufacturing activity unexpectedly contracted in September as orders and shipments turned negative, a Federal Reserve Bank of New York survey showed Monday. The Empire State Manufacturing Survey's general business conditions index plunged to minus 8.7 this month, marking the first negative reading since June, from 11.9 in August, the Fed branch said.
The focus this week is on the Bank of Canada's policy decision and RBC's forecast is still a very low conviction hold for Wednesday, but the decision could ultimately hinge on Tuesday's consumer price index data. The BoC is slated to release its policy decision at 9:45 a.m. ET Wednesday.
Gold was steady early Monday as traders awaited an expected U.S. Federal Reserve interest-rate cut later this week. Gold for December delivery was last seen down US$0.20 at US$3,686.20 per ounce, edging lower from Friday's record close.
US equity futures were flat before Monday's opening bell as traders remained on the sidelines ahead of this week's two-day Federal Open Market Committee meeting. Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq futures were all up 0.2%. The rate-setting meeting will kick off Tuesday with a policy statement scheduled for release at the meeting's conclusion at 2 pm ET Wednesday.
Last week was a quiet one for domestic data, which gave some time for markets to assess economic conditions before this Wednesday's Bank of Canada rate decision, said TD.
Scotiabank said it has more evidence of traction on the interest sensitives in Canada in a lagging response to rate cuts after the Canadian Real Estate Association released August's data on Monday. Canada registered a fourth consecutive monthly gain in seasonally adjusted existing home sales during August.
T. Rowe Price (TROW) has secured financing for a new corporate bond fund from Walmart (WMT) heir Lukas Walton's Builders Vision impact platform, Bloomberg reported Monday. Builders Vision and Xylem, a water technology company, are among early investors, contributing a combined $200 million, the report said.
US equity futures were little changed pre-bell Monday as traders remained sidelined ahead of this week's two-day Federal Open Market Committee meeting to set monetary policy. Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.1% higher.
American Axle & Manufacturing Holdings (AXL) said Monday its wholly owned subsidiary plans to sell $843 million in senior secured notes due 2032 and $600 million in senior unsecured notes due 2033. The company said the secured notes will be backed by first-priority liens on its and certain subsidiaries' assets.
Baidu (BIDU) said Monday it completed a senor notes offering of 4.4 billion Chinese renminbi. The offering consisted of 1.9% senior unsecured notes due 2029 sold via offshore transactions to certain non-US persons, the company said. Net proceeds will be used for general corporate purposes, including repayment of existing debt and payment of interest, Baidu (BIDU) said.
The authority's borrowing apparatus is maintaining a business-as-usual approach it embarks on a massive new capital program and fends off federal cuts.
European bourses tracked moderately higher midday Monday as traders awaited the Wednesday rate decision from the US Federal Reserve and weighed developments in Russian and European Union relations. Recent political turmoil in France was evidently shrugged off, with Paris exchanges logging gains. Retail, bank and property stocks led broad rallies, although oil issues were flat.
USA Compression Partners (USAC) said Monday it plans to offer, together with its USA Compression Finance unit, $750 million of senior unsecured notes due 2033 in a private placement to eligible buyers. The company said it will use the net proceeds, along with borrowings under its credit agreement, to redeem all of its 6.875% senior notes due 2027 and cover related fees and expenses.
Planet Labs PBC (PL) has an average rating of Buy and mean price target of $10.07, according to analysts polled by FactSet. MT Newswires does not provide investment advice.
The benchmark US stock measures were pointing higher before the opening bell Monday as traders await a major policy decision by the Federal Reserve due later in the week.
Cook County, Illinois, plans to go to market Oct. 1 with $150 million of sales tax revenue bonds. The deal comes on the heels of a Moody's upgrade to Aa3.
Asian stock markets were mixed on the downside Monday, as traders weighed a raft of sluggish economic reports from Beijing, and prospects for easing by central banks in China and the US. Hong Kong gained ground, while Shanghai fell back. In Hong Kong, the Hang Seng Index opened lower, see-sawed and finished up 0.2% on strength in tech issues.
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.
Log In Required
Publication Date