Sweden's Riksbank rate cut to 1.75% on Wednesday surprised markets, but was supported by weak economic data and a strong krona SEK), resulting in a lower EUR/SEK, said UBS. United States tariffs and a sluggish labor market continue to weigh on Sweden's economy, but fiscal stimulus and favorable global conditions support the krona, wrote the bank in a note to clients.
Existing-home sales remained essentially the same in August, ticking down by 0.2% from July, according to the National Association of REALTORS? Existing-Home Sales Report. Month-over-month sales increased in the Midwest and West, and fell in the Northeast and South.
The pace of US existing home sales fell by 0.2% to a 4.00 million seasonally adjusted annual rate in August from 4.01 million in July, compared with a larger expected decrease to a 3.95 million rate in a survey compiled by Bloomberg as of 7:35 am ET, data from the National Association of Realtors released Tuesday showed. Total sales were still up 1.8% from a year earlier.
Canada's Parliamentary Budget Officer Thursday revised down its economic outlook, citing increased trade uncertainty and the impact of tariffs. Real gross domestic product is now projected to grow 1.2% in 2025 and 1.3% in 2026, compared with March forecasts of 1.7% and 1.5%, respectively, the PBO said.
Gold rose early on Thursday, rising off a day-prior drop even as the dollar and treasury yields rose after U.S. initial jobless claims slowed last week and second-quarter gross domestic product growth was revised higher. Gold for December delivery was last seen up $16.90 to US$3,785.00 per ounce, after falling off a record US$3,815.70 set on Tuesday.
Rate, a leading fintech company, today announced an increase in its conforming loan limit to $819,000 for select loan products across the contiguous 48 states. This proactive adjustment allows more borrowers to qualify for conforming loans, which typically offer more competitive rates and simpler requirements compared to high-balance or jumbo loans.
Corporacion Inmobiliaria Vesta, known as Vesta, said Thursday it has priced a private offering of 5.500% senior unsecured notes due Jan. 30, 2033 at $500 million aggregate principal amount. The Mexican industrial real estate development company said it intends to use net proceeds from the offering to pay down debt and for general corporate purposes.
US economic growth, measured by gross domestic product, was revised up to a 3.8% increase in Q2 from a 3.3% gain in the previous estimate, compared with expectations for no revision in a survey compiled by Bloomberg as of 7:35 am ET. GDP fell by a revised 0.6% in Q1.
US initial jobless claims fell to 218,000 in the week ended Sept. 20 from an upwardly revised 232,000 in the previous week, compared with expectations for an increase to 233,000 in a survey of analysts compiled by Bloomberg as of 7:35 am ET. The four-week moving average fell by 2,750 to 237,500 after falling by 500 to 240,250 in the previous week.
Deutsche Bank said it recently turned bullish on Mexico's peso as besides the high carry, the resilience of the trade balance has been another positive driver for the currency, improving the current account despite an underperformance of primary and secondary income.
The US dollar rose against its major trading partners early Thursday, except for decline versus the Canadian dollar, before a busy day of economic data releases and appearances by Federal Reserve officials.
Alimentation Couche-Tard (ANCTF) overnight Wednesday said it priced a private debt offering of US dollar denominated senior unsecured notes with an aggregate principal amount of US$1.2 billion, and that it priced a private debt offering of Canadian dollar denominated senior unsecured notes with an aggregate principal amount of C$500 million.
Wall Street futures pointed modestly lower pre-bell Thursday as traders eyed tech-sector prospects, and awaited clarity on pending rate cuts, if any, from the Federal Reserve. The Nasdaq mildly faltered in premarket hours on concerns that AI-mania has stretched values of tech-darlings, with bellwether chipmarket Nvidia slipping 0.6% before the open.
US equity markets were mostly pointing lower before the opening bell Thursday as traders await key economic data and commentary from several central bank officials. The S&P 500 and the Nasdaq declined 0.1% each in premarket activity, while the Dow Jones Industrial Average edged up 0.1%. The indexes closed Wednesday in the red for the second consecutive trading session.
Cipher Mining Inc. (CIFR) , a leading developer and operator of industrial-scale data centers, today announced its intention to offer, subject to market and other conditions, $800 million aggregate principal amount of 0.00% convertible senior notes due 2031 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, ...
Wednesday's softer German Ifo survey hasn't materially altered expectations for the European Central Bank to leave rates on hold through the rest of this year, said MUFG. ECB Executive Board member Piero Cipollone spoke on Wednesday and expressed confidence that the ECB is on track to meet its inflation goal.
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.
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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