European stock markets opened the week mixed in Monday trading as the Stoxx Europe 600 edged 0.13% lower, Germany's DAX declined 0.48%, the FTSE 100 gained 0.11%, France's CAC was off 0.3%, and the Swiss Market Index increased 0.14%. The European Commission's Economic Sentiment Indicator for September rose 0.5 percentage points and 0.6 points in the EU and euro area, respectively, according to ...
The Canadian dollar has been lagging other G10 currencies in part due to weaker domestic jobs data, which has translated into the Bank of Canada resuming rate cuts, said UBS. Meanwhile, currency hedging flows have quieted down after at least one pension fund rushed to reduce its US dollar exposure in H1, wrote the bank in a note to clients.
Mexico's central bank weighs in with a policy decision on Thursday, said Scotiabank. A Reuters survey showed economists unanimously expecting a 25bps rate cut to 7.5%, noted the bank.
With the current policy stance only modestly restrictive, there may not be significant room for further rate reductions, St. Louis Federal Reserve Bank President Alberto Musalem said Monday at Hutchins Center on Fiscal & Monetary Policy at Brookings. Musalem is a voter on the Federal Open Market Committee in 2025.
Canada's economic picture will come into sharper focus Friday when a pair of monthly gross domestic product reports provide a clearer view of third-quarter growth, Scotiabank said. The update follows a mixed second quarter in which GDP contracted because of trade and inventory effects even as domestic activity strengthened on robust consumer spending, the bank. noted.
Freddie Mac today announced that Matthew D. Abrusci has joined the company as EVP, General Counsel and Corporate Secretary, effective today. ?Matthew Abrusci brings deep experience across the legal spectrum, and I have no doubt he will quickly become a valued member of Freddie Mac?s executive team,? said Mike Hutchins, president and interim CEO of Freddie Mac.
The Swiss central bank is forecast to keep rates at 0% on Thursday, said Societe Generale. EUR/CHF trades largely flat since May, but the action is concentrated in USD/CHF after the pair sank below 0.79 last week, down 15% since February and the lowest level since 2015, wrote the bank in a note to clients.
Bank of Canada Governor Tiff Macklem speaks Tuesday on 'global trade and capital flows,' noted Scotiabank. The speech embargo lifts at 2:15 p.m. ET and there will be a press conference at around 3:45 p.m. ET on Tuesday following the speech delivery and audience question-and-answer session, said the bank.
As investors look for alternatives to traditional assets, bitcoin could evolve from a speculative bet into a legitimate pillar of the global financial system, the bank said.
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 $59 million offering from Ocean, N.J., records a Flood Score of 5.0 out of 5.0, ICE reports.
Royal Caribbean Group said Monday that it has started a registered public offering of senior unsecured notes. The company said it plans to use the net proceeds to fund the upcoming delivery of the "Celebrity Xcel" cruise ship rather than using its existing committed export credit agency facility.
Rosenberg Research says last Wednesday's Bank of Canada rate cut could hardly have been better timed, coming two days before a "woeful" July retail sales report. Headline sales fell 0.8% month over month as expected, but the ex-auto category dropped 1.2%, double the consensus call for a 0.6% decline.
Starwood Property Trust (STWD) said Monday that it will sell $500 million worth of unsecured senior notes due in 2028 through a private offering. The company said it will allocate an amount equal to the net proceeds to finance or refinance eligible green and social projects.
AMN Healthcare Services, Inc. (AMN), announced today that its wholly owned subsidiary, AMN Healthcare, Inc., intends to make a private offering of $400.0 million aggregate principal amount of senior unsecured notes due 2031, subject to market and other conditions.
International Petroleum (IPCFF), a global oil and gas exploration and production company, made news twice Monday as it plans fixed-income investor meetings for a potential rated senior unsecured bond issue to refinance its existing bond and reports the results of its normal course issuer bid.
The US dollar fell against its major trading partners early Monday, except for a gain versus the Canadian dollar, ahead of a busy week of economic data and a return of Federal Reserve officials to the speaking circuit, including Fed Chairman Jerome Powell on Tuesday.
Last week was a busy one with updates on inflation and retail sales, along with rate cuts from the Bank of Canada and the U.S. Federal Reserve, said TD. For Canada, this left the 10-year bond yield basically unchanged from the start of the week, and the TSX hovering near its record high. The story starts with inflation, noted the bank.
US equity investors will focus primarily on the Federal Reserve's preferred inflation gauge, quarterly economic growth data, and speeches from key central bank officials this week. * The highlight this week is the Fed's preferred inflation measure, the personal consumption expenditures, or PCE, price index slated for Friday.
Canada's July gross domestic product data due Friday will be in focus as early readings suggest the Q2 contraction was not repeated in Q3, RBC said. The bank expects GDP to rise 0.2% from June, topping Statistics Canada's preliminary 0.1% estimate and marking a rebound after three straight monthly declines.
Commerzbank in its "European Sunrise" note of Monday highlighted: Markets: United States Treasury yields open close to Friday's highs, Bund and OAT futures extend sell-off. Fed: Federal Reserve Governor Stephen Miran says that disinflationary forces are "coming into play" and bring inflation down in the near-term.
Societe Generale in its early Monday economic news summary pointed out: -- US dollar, Unite States Treasury yields extend rebound post-FOMC/jobless claims, 10-year up to 4.145%, 2s/10s steepens to 56bps. -- Italy: Fitch raised rating to BBB+ from BBB, outlook stable from positive.
In 2025, the rising unemployment rate among Americans under 25, specifically recent graduates, has become a significant economic concern. Federal Reserve Chair?Jerome Powell?is worried about the current labor market. Powell underscored the low job finding rate and redundancy rate, signifying a ?low firing, low hiring environment.
US investors are steadfastly holding a record $7.7 trillion in money-market funds, with no immediate intentions of shifting the funds elsewhere. Assets in money-market funds hit a record high last week. The influx into money-market funds began in 2022 when the Federal Reserve implemented a series of rate increases.
Today's college graduates are walking into a job market that looks nothing like the one their older siblings entered, with artificial intelligence now taking over tasks that once formed the core of entry-level employment. The New York Federal Reserve reports that the unemployment rate for college graduates aged 22 to 27 hit 4.8% in June 2025.
American Axle & Manufacturing (AXL) said its subsidiary priced an upsized debt offering of $2.1 billion. The offering consists of $850 million of 6.375% senior secured notes due 2032 and $1.25 billion of 7.75% senior unsecured notes due 2033, the company said Friday in a statement.
"A lawsuit like this is probably critical for any future settlements or agreements, because it will (maybe) determine up front if the incoming [board] members, and thus whatever agreements they sign, are valid or not," said Matt Fabian, a partner at Municipal Market Analytics.
* US equity indexes rose this week after the Federal Reserve cut its target interest rate range by 25 basis points to 4% to 4.25%, and hinted at two more rate reductions in 2025. * The S&P 500 closed at 6,664.36 on Friday versus 6,584.29 a week ago, and the Nasdaq Composite stood at 22,631.47 compared with 22,111.10 a week earlier.
For the 24th year, The Bond Buyer editorial board will identify and recognize the year's most outstanding municipal finance transactions. Nominations close on Tuesday, October 14.
For the 24th year, The Bond Buyer editorial board will identify and recognize the year's most outstanding municipal finance transactions. The final deadline for nominations is Friday, October 17.
Fed Governor Stephen Miran said in an interview with CNBC that he does not see a large impact on inflation from the Trump Administration's tariffs and emphasized the slowing of the job market as a reason to cut interest rates rapidly. Miran said that in a speech on Sept. 22, he will explain his reasons for his dissent at the September FOMC meeting for a 50-basis point rate cut.
President Donald Trump may be celebrating his long-awaited victory over the Federal Reserve's rate policy, but underneath the surface, inflationary pressures remain dangerously persistent. Earlier this week, the Federal Reserve cut its benchmark interest rate by 25 basis points to a range of 4.00%-4.25%, meeting widespread expectations.
In Canada, Avery Shenfeld noted, the plunge in Q2 GDP was exacerbated by the fact that exporters rushed goods to the U.S. market in Q1 to beat a feared across the board tariff. (Also on the CIBC calendar for next week are August Industrial Product Prices and Raw Materials on Monday. Price: 112.26, Change: +1.30, Percent Change: +1.17. MT Newswires does not provide investment advice.
Financial stocks edged higher in Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each gaining 0.2%. The Philadelphia Housing Index fell 1.2%, and the Real Estate Select Sector SPDR Fund advanced 0.1%. Bitcoin fell 1% to $115,930, and the yield for 10-year US Treasuries rose 3 basis points to 4.13%. In regulatory news, the US Securities and Exchan...
Financial stocks were edging higher in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each up about 0.1%. The Philadelphia Housing Index was shedding 1.3%, and the Real Estate Select Sector SPDR Fund was easing 0.1%. Bitcoin was declining 1% to $115,930, and the yield for 10-year US Treasuries was rising 3 basis points to 4.13%. In corporate ne...
22nd Century Group, Inc. (XXII) shares are trading higher Friday after the company announced it repaid the remaining $3.9 million of its senior unsecured notes. What To Know: The company said repayment of the debt lowers ongoing cash needs and operating costs by eliminating cash interest and amortization expense.
National Bank of Canada Thursday kept Capstone Copper's outperform rating and $9.75 price target. Capstone announced that sulfide copper production at the Mantoverde mine in Chile has returned to full operating rates following a disruption due to a motor failure in the ball mill.
State-level data released by the Bureau of Labor Statistics Friday showed the unemployment rate rose in three states in August, fell in two and held steady elsewhere.
With the latest retail sales figures, Desjardins continues to expect "modest" GDP growth in the third quarter, Tiago Figueiredo said Friday. Over at CIBC, Katherine Judge also said Friday's retail sales data supports the need for another BoC rate cut in October, after the central bank as expected reduced the policy rate by 25 basis points to 2.5% just two days ago.
Over at CIBC, Katherine Judge said Friday's retail sales data is supports the need for another Bank of Canada rate cut in October, after the central bank as expected reduced the policy rate by 25 basis points to 2.5% just two days ago. Judge noted Canadian retail sales continued to seesaw in July, with the 0.8% drop in sales erasing half of the prior month's gain.
Over at CIBC, Katherine Judge said Friday's retail sales data is supports the need for another Bank of Canada rate cut in October, after the central bank as expected reduced the policy rate by 25 basis points to 4.5% just two days ago. Judge noted Canadian retail sales continued to seesaw in July, with the 0.8% drop in sales erasing half of the prior month's gain.
Canada will release the retail sales for data for July and give an advance estimate for August at 8:30 a.m. ET on Friday, said Scotiabank. Canadian retail sales are expected to be weak after the prior month's surge, but with minimal effect on July gross domestic product due out next week, along with the August GDP flash, noted the bank.
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