Oil and gas prices have remained relatively range bound since early 2024, but resilience across covered companies continues to show signs of improvement, driven by a recent paradigm shift in capital discipline, National Bank of Canada said in a Wednesday note.
Societe Generale in its early Thursday economic news summary pointed out: -- The US dollar tracks higher United States Treasury yields, 2s back up to 3.60%, break opens 3.70%. 10s up to 4.147%. U.S: Treasury Secretary Bessent: to complete the first round of interviews for the successor of Federal Reserve Chair Powell by the first week of October, surprised that the Fed hadn't sketched out a tar...
NRG Energy (NRG) said late Wednesday it priced senior secured and unsecured notes in concurrent offerings. The company priced $625 million of 4.734% senior secured first lien notes due 2030 and an identical amount of 5.407% senior secured notes due 2035. NRG also priced $1.25 billion of 5.75% senior unsecured notes due 2034 and $2.40 billion of 6% senior notes due 2036, according to a statement.
California Resources (CRC) said late Wednesday it has priced a private offering of $400 million in 7% senior unsecured notes due 2034, as it gears up to fund its pending merger with Berry. The energy and carbon management company expects to raise around $394 million in net proceeds. The offering is expected to close on Oct. 8. MT Newswires does not provide investment advice.
Mirion Technologies (MIR) said late Wednesday it plans to offer $250 million of convertible senior notes due 2031 to institutional buyers. The company will grant underwriters a 13-day overallotment option to buy up to an additional $37.5 million of the notes, the company said. Separately, the company said it launched a public offering of $350 million of class A common shares.
US equities fell for the second straight day, while Treasury yields rose as investors continued to evaluate what appeared to be hawkish remarks made by Federal Reserve Chair Jerome Powell on Tuesday. The Dow Jones Industrial Average lost 0.4% to 46,121.3 on Wednesday.
SmartStop Self Storage REIT (SMA) said late Wednesday that it has completed a CA$200 million series B senior unsecured notes issuance in the Canadian Maple Bond market. The five-year notes, issued through SmartStop, bear a 3.888% interest rate, mature on Sept. 24, 2030, and pay interest semiannually starting in March 2026, the report said.
California Resources Corporation (CRC) announced today the pricing of its private offering of $400 million in aggregate principal amount of its 7.000% senior unsecured notes due 2034 at par. The Company estimates that the net proceeds from the offering will be approximately $394 million after deducting the initial purchasers' discount and estimated expenses.
Light & Wonder (LNW) said Wednesday its unit Light and Wonder International has completed a private offering of $1 billion of 6.25% senior unsecured notes due 2033.
Transocean (RIG) plans to sell 100 million shares in an underwritten public offering and grant underwriters a 30-day option to buy up to an additional 15 million shares. Net proceeds will be used to repay or redeem debt, including part of the $655 million in 8% senior notes due February 2027 issued by the Transocean International subsidiary, the company said Wednesday in a statement.
US equity indexes were lower after the close on Wednesday, continuing their downward trend from the previous session, as most Treasury yields gained a day after the US Federal Reserve said there is no risk-free path to rate cuts.
US equity indexes fell Wednesday for the second straight day, while most government bond yields rose. * US new-home sales surged 20.5% in August, reaching an annual rate of 800,000, up from a revised 664,000 in July, surprising analysts in a Bloomberg survey expecting a drop to 650,000.
KalVista Pharmaceuticals (KALV) said late Wednesday it plans to issue $110 million of convertible senior notes due 2031 in a private placement, subject to market conditions. KalVista plans to give initial purchasers an option to buy up to an additional $15 million of notes.
Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.6% and the Financial Select Sector SPDR Fund off 0.4%. The Philadelphia Housing Index was up 0.1%, and the Real Estate Select Sector SPDR Fund was decreasing 0.9%. Bitcoin was increasing 1.4% to $113,663, and the yield for 10-year US Treasuries was rising 3 basis points to 4.15%. In ec...
US equity indexes headed for the second straight decline ahead of the close on Wednesday as most government bond yields gained. The Nasdaq Composite fell 0.5% to 22,461.91, the S&P 500 dropped 0.4% to 6,633.91, and the Dow Jones Industrial Average declined 0.4% to 46,117.4. The materials sector led the declines, while energy paced the gainers.
Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.6% and the Financial Select Sector SPDR Fund off 0.4%. The Philadelphia Housing Index was up 0.1%, and the Real Estate Select Sector SPDR Fund was decreasing 0.9%. Bitcoin was increasing 1.4% to $113,663, and the yield for 10-year US Treasuries was rising 3 basis points to 4.15%. In ec...
The National Association of Realtors' measure of US existing-home sales is expected to slow to a 3.96 million annual rate in August, based on a survey compiled by Bloomberg, after rising by 2% to a 4.01 million rate in July. Existing-home sales were at a 3.93 million rate in August 2024, so the year-over-year change would be only slightly positive.
According to Daren King over at National Bank, we now have a complete picture of the first quarter during which the U.S. tariffs were imposed, and it's "far from reassuring". King noted Quebec's real GDP contracted by the most since the 2008-2009 financial crisis, and by more than the country as a whole in Q2.
US benchmark equity indexes fell intraday, extending losses from the previous session that followed Federal Reserve Chair Jerome Powell's speech. The Nasdaq Composite was down 0.5% at 22,461.2 after midday Wednesday, while the S&P 500 fell 0.4% to 6,632.1. The Dow Jones Industrial Average lost 0.3% to 46,172.9. Among sectors, materials saw the biggest drop, while energy paced the gainers.
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index shedding 0.5% and the Financial Select Sector SPDR Fund off 0.4%. The Philadelphia Housing Index was rising 0.3%, and the Real Estate Select Sector SPDR Fund was down 0.5%. Bitcoin was increasing 1% to $113,826, and the yield for 10-year US Treasuries was rising 2.3 basis points to 4.14%. In economic ...
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index shedding 0.4% and the Financial Select Sector SPDR Fund off 0.2%. The Philadelphia Housing Index was rising 0.3%, and the Real Estate Select Sector SPDR Fund was down 0.5%. Bitcoin was increasing 1% to $113,826, and the yield for 10-year US Treasuries was rising 2.3 basis points to 4.14%. In corporate...
US benchmark stock indexes traded lower while government bond yields rose in midday trading on Wednesday. The Nasdaq Composite was down 0.5% to 22,465.7, the S&P 500 slid 0.3% to 6,634.2, and the Dow Jones Industrial Average fell 0.2% to 46,205.3. Energy led the gainers, while materials and technology were the steepest decliners intraday.
National Bank of Canada in a Tuesday note maintained its outperform rating on the shares of Groupe Dynamite (GRGDF) while raising its price target to $66.00 from $55.00. The bank noted the clothing retailer's shares have "meaningfully outperformed" recently and said it is reviewing its price target following a "strong" 43% stock price appreciation in a short time frame since reporting Q2/F25 results.
National Bank of Canada on Wednesday retained Versamet Royalties's outperform rating and $11 price target. Versamet Royalties announced it has purchased a 90% silver stream on the Rosh Pinah Zinc mine in Namibia and a 2.75% net smelter royalty on the Santa Rita mine in Brazil for upfront consideration of US$125 million and contingent consideration of up to $45 million.
Sri Lanka's central bank said Wednesday its Monetary Policy Board decided to maintain the Overnight Policy Rate at the current level of 7.75%. The Board arrived at Tuesday's decision after carefully considering both domestic and global developments, noted CBSL in its policy stament.
National Bank of Canada Wednesday kept Lithium Americas's sector perform rating and $5 price target. The bank said a possible involvement by the US government in Lithium Americas (LAC)' Thacker Pass project could derisk the project's financials during the construction period, as well as the future revenues required through initial offtakes.
The Czech central bank Wednesday said its Board kept interest rates unchanged, as expected. The two-week repo rate remained at 3.50%. All seven members of the Board voted in favor of this decision. "Today's decision aims to stabilise headline inflation close to the 2% inflation target in the long run," wrote CNB in its policy statement. MT Newswires does not provide investment advice.
It was announced overnight Tuesday that Riksbank's Deputy Governor Anna Breman will become the new Reserve Bank of New Zealand governor from December, said ING. ING doesn't see major implications for either central bank, as Breman briefly stood out on the dovish side in 2023 but has since been rather neutral.
Hudbay Minerals (HBM) late Tuesday said it has temporarily shut down its Constancia mill in Peru due to ongoing social unrest. The company said the situation has escalated over the weekend with riots in Lima and several protests across the country, affecting Hudbay's Constancia mine and other mines in the southern mining corridor.
California Resources (CRC) said Wednesday it intends to sell $400 million of senior unsecured notes due 2034 in a private offering. The company said it plans to use the net proceeds, along with cash on hand and borrowings, to help repay Berry's existing debt in connection with their pending merger and to pay fees and expenses related to the merger and the offering of the notes.
Against consensus and market expectations, the Riksbank delivered a 25bps rate cut to 1.75% on Tuesday, said UBS. With Tuesday's reduction at Sweden's central bank, the policy rate at 1.75% has likely become accommodative.
US equity futures were flat ahead of Wednesday's opening bell as traders turned cautious after Federal Reserve Chair Jerome Powell flagged a "challenging situation" for the central bank. Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.2% higher.
US equity futures were little changed pre-bell Wednesday as traders turned cautious after Federal Reserve Chair Jerome Powell flagged a "challenging situation" for the central bank. Dow Jones Industrial Average futures were flat, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.2% higher.
California Resources Corporation (CRC) announced today that, subject to market and other conditions, it intends to offer and sell to eligible purchasers $400 million in aggregate principal amount of senior unsecured notes due 2034.
The CapEx Finance Index showed that demand for equipment continued to improve in August, with new business volumes rising for a second straight month despite both turbulent trade policy and changes at the Federal Reserve.
NRG Energy (NRG) said Wednesday it launched an offering of senior secured notes, as well as an offering of senior unsecured notes. The secured notes offering consists of senior secured first lien notes due 2030 and senior secured first lien notes due 2035, while the unsecured notes offering consists of senior notes due 2034 and senior notes due 2036, the company said.
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.
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