One of two G10 central bank meetings took place on Tuesday and resulted in a surprise decision with Sweden's Riksbank cutting the key policy rate by another 25bps to 1.75%, said MUFG. OIS pricing before the meeting implied about a one-third chance of a cut, so the decision certainly surprised most of the market, wrote the bank in a note to clients.
The main US stock measures were mostly pointing higher in Wednesday's premarket activity as investors assess Federal Reserve Chair Jerome Powell's warning that the central bank faces a "challenging situation" with respect to its dual mandate. The S&P 500 rose 0.1% and the Nasdaq added 0.3% before the opening bell, while the Dow Jones Industrial Average was slightly in the red.
BBVA Research said it expects Mexico's central bank to deliver a 25bps rate cut on Thursday and to signal that the easing cycle still has room to continue. BBVA Research thinks further easing toward at least the midpoint neutral rate estimate remains warranted amid a weak demand outlook.
Chemtrade Logistics Income Fund, which closed down but hit 52-week highs Tuesday, announced overnight that its unit, Chemtrade Logistics, priced a private placement offering of $250 million principal amount of Senior Unsecured Notes due 2032.
Gildan Activewear (GIL) overnight Tuesday priced an offering of US$1.2 billion aggregate principal amount of senior unsecured notes in two series. This consisted of $600 million aggregate principal amount of 4.700% senior unsecured notes, due October 7, 2030 and $600 million aggregate principal amount of 5.400% senior unsecured notes, due October 7, 2035.
Gildan Activewear (GIL) said late Tuesday it priced a private offering of $600 million of 4.7% senior unsecured notes due Oct. 7, 2030, and $600 million of 5.4% senior unsecured notes due Oct. 7, 2035. The company expects the offering to close by Oct. 7 and plans to use the net proceeds to help fund its planned acquisition of Hanesbrands (HBI), among other things.
Galaxy Digital Inc. CEO Mike Novogratz said in an interview aired Tuesday that the political landscape could influence the cryptocurrency cycle, depending on President Donald Trump?s choice for the next Federal Reserve Chair.
Gildan Activewear Inc. (GIL) announced today that it has priced an offering of US$1.2 billion aggregate principal amount of senior unsecured notes in two series, consisting of US$600 million aggregate principal amount of 4.700% senior unsecured notes, due October 7, 2030 and US$600 million aggregate principal amount of 5.400% senior unsecured notes, due October 7, 2035.
COPT Defense Properties (CDP) said late Tuesday an operating partnership has priced an underwritten public offering of $400 million of 4.500% senior notes due 2030. The company said the partnership plans to use the proceeds for general corporate purposes. MT Newswires does not provide investment advice.
US equities retreated following a three-day advance to all-time highs as Federal Reserve Chair Jerome Powell highlighted a "challenging situation" that the central back faces with respect to its dual mandate.
US equity indexes were mixed on Tuesday after US Federal Reserve Chair Jerome Powell said during a speech that the Fed sees no "risk-free path" to lowering rates. * The US Federal Reserve sees no "risk-free path" to cutting interest rates, Chair Jerome Powell said Tuesday, warning of a difficult balancing act between curbing inflation and protecting the labor market.
It's no surprise that casino giant Caesars Entertainment Inc (CZR) has been a serious laggard this year. On the broader level, the Federal Reserve cut its benchmark interest rate by 25 basis points to 4.00%-4.25%. Not only was the move the first cut since December of last year, policymakers signaled that further easing may follow.
US equity indexes were lower after the close on Tuesday after US Federal Reserve Chair Jerome Powell said during a speech today that equity prices are "fairly highly valued." He highlighted that the Fed would move more cautiously on rate cuts as the central bank looks to balance near-term risks to inflation with a weakening labor market. "Two-sided risks mean that there is no risk-free path.
Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index down 0.3% and the Financial Select Sector SPDR Fund shedding 0.5%. The Philadelphia Housing Index was easing 0.3%, and the Real Estate Select Sector SPDR Fund rose 0.8%. In economic news, the US Q2 current account deficit narrowed to $251.31 billion from $439.82 billion in the prior quarter, compared wi...
US equity indexes were lower ahead of the close on Tuesday after US Federal Reserve Chair Jerome Powell said during a speech today in Rhode Island that the Fed sees no "risk-free path" to lowering rates as the central bank faces a "challenging situation" in balancing inflation risks with the softening labor market.
Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index down 0.4% and the Financial Select Sector SPDR Fund shedding 0.7%. The Philadelphia Housing Index was easing 0.2%, and the Real Estate Select Sector SPDR Fund rose 0.5%. In economic news, the US Q2 current account deficit narrowed to $251.31 billion from $439.82 billion in the prior quarter, compared wi...
The Federal Reserve is facing a "challenging situation" ahead with respect to its dual mandate of price stability and maximum employment, Chair Jerome Powell said Tuesday.
The ever-rising cost of projects is the number one financial challenge for municipalities, according to the latest survey from the National League of Cities.
Fed Chairman Jerome Powell repeated his recent comments that the stance of monetary policy remains "modestly restrictive" and the Federal Open Market Committee is in a good position to deal with any developments of the economy, noting that downside risks to employment have increased but noting that inflation remains a concern.
Financial stocks were moving lower in Tuesday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund down 0.4%. The Philadelphia Housing Index was shedding 0.3%, and the Real Estate Select Sector SPDR Fund was increasing 0.5%. In economic news, the US Q2 current account deficit narrowed to $251.31 billion from $439.82 billion in the prior q...
US benchmark equity indexes were lower intraday as Federal Reserve Chair Jerome Powell said the central bank is facing a "challenging situation" with respect to its dual mandate.
Elevated coffee prices, driven by US tariffs and bad weather in key producing regions, provide growth opportunities for Keurig Dr. Pepper (KDP) and JDE Peet's, which recently announced plans to merge, an analyst told MT Newswires. Coffee prices rose 20.9% in August from the year-ago period, the steepest jump since 1997, according to consumer price index data from the Bureau of Labor Statistics.
National Bank of Canada on Monday maintained an outperform rating and $5.50 price target on the shares of Zedcor (ZDCAF). The bank provided takeaways from a visit to Zedcor's Denver branch. "The quick turnaround of inventory plus the limited return at this branch are accurately reflected in Zedcor's (ZDCAF) growth and a high asset utilization rate of over 90%," said analyst John Shao.
The outlook revision to negative for the Texas Biomedical Research Institute cited weakened liquidity and reliance on federal grants, the rating agency said.
Federal Reserve Chair Jerome Powell said Tuesday that the stance of monetary policy remains "modestly restrictive," and the Federal Open Market Committee is prepared to respond to evolving economic conditions. "The increased downside risks to employment have shifted the balance of risks to achieving our goals," Powell said in prepared remarks to the Greater Providence Chamber of Commerce.
US private-sector output growth hit a three-month low in September amid softening demand, though selling prices rose at the slowest pace since April, according to S&P Global's (SPGI) flash purchasing managers' index released Tuesday. The composite output index fell to 53.6 this month from 54.6 in August, compared with a 54 reading in a survey compiled by Bloomberg.
Markets will have to decide if, as Morgan Stanley thinks, the Bank of Canada will lead developed market central banks down a more dovish path. The BoC caught the bank's attention with an economy that has shed 100,000 jobs in two months and looks like a harbinger of trade disruptions. MT Newswires does not provide investment advice.
Nigeria's central bank Tuesday said its Monetary Policy Committee decided to reduce the Monetary Policy Rate by 50bps to 27.0%. MT Newswires does not provide investment advice.
The Organization for Economic Co-operation and Development, or OECD, raised its global and US economic growth forecasts for 2025, saying the macro landscape benefited from front-loading ahead of higher tariffs. The OECD now expects world gross domestic product to grow by 3.2% this year, up from its June projection of 2.9%, but a drop from last year's 3.3% rate.
Morocco's central bank Tuesday said its Board decided to maintain the key interest rate unchanged at 2.25%. According to BKAM projections, inflation is expected at 1% this year, remaining virtually unchanged compared with 2024, before accelerating to 1.9% in 2026.
Royal Bank of Canada (RY) has outperformed the market over the past 5 years by 1.01% on an annualized basis producing an average annual return of 15.82%. Currently, Royal Bank of Canada (RY) has a market capitalization of $209.57 billion. Buying $1000 In RY: If an investor had bought $1000 of RY stock 5 years ago, it would be worth $2,108.89 today based on a price of $148.60 for RY at the time of writing.
Morgan Stanley noted that the Czech central bank will publish its policy statement on Wednesday. The bank sees the CNB remaining on hold and continuing to guide to unchanged rates. MT Newswires does not provide investment advice.
Hungary's central bank on Tuesday said the Monetary Council left the key base rate at 6.50%, a move expected by the majority of economists. MNB noted in its policy statement that the Monetary Council also kept the o/n deposit rate at 5.50% and the o/n collateralized lending rate at 7.50%. MT Newswires does not provide investment advice.
Greystone, a leading national commercial real estate finance company, has provided $46,972,000 in Freddie Mac financing to refinance a two-property multifamily portfolio totaling 674 units in Houston, Texas.
Federal Reserve Vice Chair for Supervision Michelle Bowman said Tuesday that she was "pleased" with the Federal Open Market Committee's decision to lower its target rate at its meeting last week but added that it is only a first step and that a faster pace of reduction may be needed.
The US Q2 current account deficit narrowed to $251.31 billion from $439.82 billion in the previous quarter, compared with expectations for a $256.6 billion deficit from a survey compiled by Bloomberg as of 7:40 am ET. The narrower current account deficit reflected a much smaller goods and services gap, partially offset by wider primary income and secondary income gaps.
The US dollar rose against its major trading partners early Tuesday ahead of a busy day of economic data releases and appearances by Federal Reserve officials, particularly Fed Chairman Jerome Powell.
Crane NXT, Co. (CXT), a premier industrial technology company, today announced it expects its U.S. Currency business to grow in the high-single-digits in 2026 based on the Federal Reserve Board?s recently published 2026 print order.
US equity futures were mostly trending downwards on Tuesday as investors await commentary from Federal Reserve Chair Jerome Powell. The S&P 500 edged down 0.1% and the Nasdaq was slightly in the red in premarket activity, while the Dow Jones Industrial Average was marginally in the green.
Wall Street futures pointed sideways pre-bell Tuesday, as traders weighed broad equity indices again at record zeniths, and awaited fresh economic data and a presentation from the Federal Reserve Chair. In the futures, the S&P 500 fell 0.1%, while the Nasdaq and the Dow Jones were steady.
Asian stock markets were uneven on Tuesday, with Hong Kong and Shanghai falling back on after a central bank official did not indicate monetary easing was on deck, while Seoul and Taiwan struck fresh record all-time highs on the global tech rally. Tokyo was closed on holiday, while other regional exchanges were mixed.
Hungary's central bank is expected to leave rates at 6.50% on Tuesday and present a new forecast, said ING. Forward guidance should remain hawkish and the bank is unlikely to see much change here.
Canadian real construction spending climbed 5.9% year over year in July on a non-seasonally adjusted basis, driven by a 9.3% rise in residential building and a 5.2% increase in institutional and government projects, Bank of Montreal said. The overall advance masked a 4.8% drop in commercial construction and a 7.1% decline in industrial spending, the bank noted.
Societe Generale in its early Tuesday economic news summary pointed out: -- US dollar mixed, United States Treasury yields extend rebound, 2s up against 3.60% trendline, break opens 3.70%, 2s/10s flattens to 54bps. -- Fed speakers sow doubts over two additional cuts this year, citing inflation. -- Day ahead: Federal Reserve Chair Powell speaks on the economic outlook, Sweden's Riksbank cuts 25bps.
Weatherford International (WFRD) said Monday its subsidiary has priced $1.2 billion in 6.75% senior notes due 2033, doubling the size from the originally planned $600 million.
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