* Trump announces new tariffs from October 1. * Pharmaceutical stocks fall in Asia, most indexes down. * Fed easing expectations recede on US economic resilience. * Dollar headed for weekly gain. By Naomi Rovnick and Rae Wee.
Royal Bank of Canada (RY) is keeping tabs on a number of possible US acquisition targets to expand its business south of the border, Bloomberg News reported Friday, citing Chief Executive Dave McKay. "It wouldn't be asset management. McKay described the possible takeover targets as "high-quality wealth franchises" that could be sought by rivals.
Brazil posted a current account deficit of $4.669 billion in August, central bank figures showed on Friday, while economists in a Reuters poll expected a shortfall of $5.5 billion. Foreign direct investment in the month hit $7.989 billion, exceeding the $6.15 billion projected in the poll.
The Bank of Canada is already within a neutral range and at the fine-tuning stage of adjustments, said Scotiabank. The bank's forecast is for one more rate cut, but with uncertain timing. Scotiabank pointed out that it successfully leaned against speculation toward further rate cuts ever since March.
* Markets trim bets on Fed rate cuts. * Analysts flag muted sensitivity to U.S. tariffs, geopolitical risks. * US consumer spending data release awaited for Fed cues. By Jaspreet Kalra and Rocky Swift.
Canada will release the gross domestic product for July and provide the advance estimate for August at 8:30 a.m. ET on Friday, said Bank of Montreal. Canadian real GDP for July is expected to rebound 0.1% month over o nth after three straight monthly declines stemming from the trade war's hit to exports and investment, noted the bank.
The Canadian dollar's recent performance has been challenged by shifting fundamentals and a renewed dovishness from the Bank of Canada, said Scotiabank. The bank's outlook remains constructive, as Scotiabank still anticipates less easing from the BoC relative to the Federal Reserve and, as such, looks to support from interest rate differentials.
Mexico's central bank delivered a widely anticipated 25bps rate cut to 7.50% on Thursday, while signaling further room to ease amid the sluggishness of economic activity, said BBVA Research. Banxico's modest inflation forecasts revisions signal a positive outlook, likely underpinned by a widening negative output gap, noted BBVA Research.
Check out what the ROI team are excited to read, watch and listen to over the weekend. From the Editor: Hello Morning Bid readers!?. The job of the U.S. Federal Reserve was made a bit harder yesterday.
Futures tied to Canada's main stock index edged lower on Friday as investors awaited domestic GDP and U.S. inflation data. Futures for Toronto's S&P/TSX index were down 0.2% at 1,752.50 points by 06:09 a.m. ET, after three straight sessions of declines.
U.S. stocks ended higher on Friday after mostly in-line U.S. inflation data, but the three major indexes posted losses for the week. The S&P 500 and Nasdaq snapped?three-week streaks of weekly gains. The Commerce Department's personal consumption expenditures index report for August showed inflation behaving as expected while personal income and consumer spending surprised to the upside.
Societe Generale in its early Friday economic news summary pointed out: -- The US dollar consolidates overnight gains, two-year United States Treasury backs up to 3.65% after strong durable goods, weekly jobless claims drop to 218,000, Q2 gross domestic product revised up to 3.8% quarter-over-quarter seasonally adjusted annual rate, personal consumption upgraded to 2.5%. UST seven-year auction ...
* U.S. GDP grew faster than estimated in second quarter. * U.S. personal consumption expenditure data due on Friday. * Platinum at 12-year high, all metals set for weekly gains. By Ishaan Arora. Gold held steady on Friday after better-than-expected U.S. GDP data dampened bets of further U.S. rate cuts, while investors awaited key inflation data later in the day.
Euro zone consumers raised some of their inflation expectations in August and saw higher income growth in the year ahead, the European Central Bank's monthly Consumer Expectations Survey showed on Friday.
The European Central Bank said on Friday it would conduct new experiments next year about what could be achieved through a digital euro, in a further step for a project it sees as key for preserving the euro zone's financial autonomy from the United States.
The Bank of Japan will probably raise its benchmark interest rate at least four more times to 1.5% before Governor Kazuo Ueda's term ends in early 2028, former central bank board member Makoto Sakurai told Reuters. Sakurai, who retains close contact with incumbent policymakers, forecast another hike by year-end, two more increases in fiscal 2026, and one or two hikes in the year ending March 2028.
Japanese government bonds traded in a narrow range on Friday, as investors adjusted positions ahead of the weekend, with attention on the potential timing of Bank of Japan policy tightening and the race to select the next prime minister.
By Joachim Klement. Tech giants are ploughing money into artificial intelligence, fueling the ongoing U.S. stock market rally in the process. But rising long-term Treasury yields are jeopardising the investment boom in data centres and other infrastructure. While the U.S. economy faces persistent inflation and signs of labour market weakness, U.S. stocks continue to post new all-time highs.
U.S. President Donald Trump's tariff decisions since he took office in January have shocked financial markets and sent a wave of uncertainty through the global economy.
The Reserve Bank of Australia will keep its cash rate at 3.60% next week, all the economists in a Reuters poll said, as the labour market remains tight and policymakers wait to see firm signs that inflation is?easing.
* Trump slaps fresh tariffs on a broad range of imports. * U.S. economy grew faster than estimated in second quarter. * U.S. PCE data due at 1230 GMT. * Platinum hovers near 12-year high. By Anmol Choubey.
* Market reduces bets for Fed rate cuts. * US consumer spending data release awaited for Fed stimulus signals. * Tokyo's core inflation fuels expectations of BOJ rate hike. By Rocky Swift. The dollar held on to steep gains on Friday after better-than-forecast U.S. data dampened expectations for further easing by the Federal Reserve this year.
Gains in Wall Street indexes on Friday were not enough to erase a loss for the week while resilient consumer spending supported longer-dated Treasury yields and gold rose as a steady inflation reading supported bets on future Federal Reserve rate cuts.
Gold edged lower on Friday after
stronger-than-expected U.S. economic data cast doubt on the
Federal Reserve's rate cut outlook and lifted the dollar, while
investors awaited U.S. inflation data ...
* Sept Tokyo core CPI up 2.5% yr/yr vs forecast +2.8% * Index excluding fresh food, fuel rises 2.5% yr/yr. * 30 meeting. By Leika Kihara. TOKYO, Sept 26 - Core inflation in Japan's capital held steady in September and stayed well above the central bank's 2% target, data showed on Friday, as price pressures keep alive market expectations of a near-term interest rate hike.
There's little prospect of the Federal Reserve changing its 2% inflation target right now. Figures on Friday are expected to show that U.S. inflation in August exceeded the Fed's 2% goal for the 54th month in a row. And there's every likelihood that inflation won't get back to 2% for several more months, probably years. Even that timeline could prove to be tough.
* Sept Tokyo core CPI up 2.5% yr/yr vs forecast +2.8% * Index excluding fresh food, fuel rises 2.5% yr/yr. * Data among factors BOJ will scrutinise at Oct 29-30 meeting. By Leika Kihara.
KBRA assigns a long-term rating of K1+ to the San Diego Unified School District: 2025 General Obligation Bonds; 2025 General Obligation Bonds; and, 2025 General Obligation Bonds. Key Credit Considerations The rating actions reflect the following key credit considerations: Credit Positives. Credit Challenges. Rating Sensitivities For Upgrade. For Downgrade.
The Las Vegas Global Economic Alliance and the International Economic Development Council are proud to announce Danielle Casey, President & CEO of the Las Vegas Global Economic Alliance, has been appointed to serve as the Chair of the IEDC Board of Directors for the 2026 calendar year.
Black Hills said late Thursday it has priced a public debt offering of $450 million aggregate principal amount of 4.55% senior unsecured notes due Jan. 2031. The company plans to use the proceeds to repay, redeem, or otherwise retire $300 million of its outstanding 3.950% notes due Jan. 2026. The offering is expected to close on Oct. 2, the company added.
Black Hills Corp (BKH): * Black Hills Corp (BKH): FILES PRICING TERM SHEET OF UPTO $450 MILLION 4.550% SENIOR UNSECURED NOTES DUE 2031 Source text: Further company coverage:
By Jonathan Stempel. A federal judge on Thursday dismissed "all remaining claims" in a slew of antitrust litigation accusing large banks of conspiring to rig Libor, an interest rate benchmark that once underpinned hundreds of trillions of dollars of transactions, at investors' expense.
A federal judge on Thursday dismissed "all remaining claims" in a slew of antitrust litigation accusing large banks of conspiring to rig Libor, an interest rate benchmark that once underpinned hundreds of trillions of dollars of transactions, at investors' expense.
Rating agency Fitch said on Thursday it was downgrading automotive parts maker First Brands Group's long-term issuer default rating to 'CCC' from 'B', amid concerns the company might have to pursue debt restructuring or file for bankruptcy.
Black Hills Corp. (BKH) today announced the pricing of a registered public debt offering of $450 million aggregate principal amount of 4.550% senior unsecured notes due Jan. 31, 2031. The company intends to use the net proceeds from the offering to repay, redeem or otherwise retire all $300 million aggregate principal amount outstanding of its 3.950% notes due Jan. 15, 2026, at or before maturity.
* Initial claims for state unemployment benefits drop. * CarMax (KMX) falls to lowest in over five years. * Investors await PCE data Friday. * Indexes: Dow down 0.4%, S&P 500 down 0.5%, Nasdaq down 0.5% By Caroline Valetkevitch.
Realty Income (O) said late Thursday it has priced a $400 million offering of 3.950% senior unsecured notes due 2029 at 99.412% of the principal amount. The company said it also priced another $400 million offering of 4.500% senior unsecured notes due 2033 at 98.871%. Net proceeds will be used for general corporate purposes, according to the company. MT Newswires does not provide investment advice.
SAN DIEGO, Sept. 25, 2025 Realty Income Corporation (O), The Monthly Dividend Company?, today announced the pricing of a public offering of $400 million of 3.950% senior unsecured notes due February 1, 2029, and $400 million of 4.500% senior unsecured notes due February 1, 2033.
US equities dropped for a third session in a row on Thursday as traders evaluated fresh economic data, including reports showing declines in existing-home sales and jobless claims. The Nasdaq Composite and the S&P 500 fell 0.5% each to close at 22,384.7 and 6,604.7, respectively.
CNH Industrial (CNH) said late Thursday its unit, CNH Industrial Capital, has priced a $500 million offering of 4.5% senior unsecured notes due 2030. The offering is expected to be completed on Sept. 29, subject to closing conditions, the company said. Net proceeds will be added to general funds and be used for general corporate purposes, the company added.
The Bank of Mexico cut its benchmark interest rate to its lowest level since May 2022 on Thursday and indicated it would consider further easing at future meetings, amid ongoing concerns about global trade tensions and sluggish economic growth in Latin America's second largest economy.
The short-end correction has been "driven by a solid labor market report, which pushed Treasury yields higher as expectations for additional Fed rate cuts tempered," said Alice Cheng, director of municipal credit and investor strategy at Janney.
Freddie Mac today posted to its website its Monthly Volume Summary for August 2025, which provides information on Freddie Mac?s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities and other investments. Freddie Mac?s mission is to make home possible for families across the nation.
* U.S. economic data tempers optimism for further Fed rate cuts. * Oversupply concerns back in focus for fourth quarter. * Russia to introduce a partial ban on diesel exports until the end of the year. By Nicole Jao.
US equity indexes were lower on Thursday as most government bond yields rose amid significant economic reports. * US economic growth, as measured by gross domestic product, was revised upward to a 3.8% increase in Q2 from the previously estimated 3.3%, surpassing expectations from a Bloomberg survey that had anticipated no revision.
* Initial claims for state unemployment benefits drop. * CarMax (KMX) falls to lowest in over five years. * Investors await PCE data Friday. By Caroline Valetkevitch. U.S. stocks ended lower on Thursday, with most S&P 500 sectors down as economic data increased uncertainty about the Federal Reserve's outlook for interest rate cuts.
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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