Federal Reserve Vice Chair for Supervision Michelle Bowman said recent employment data suggest that the Federal Open Market Committee may already be late in reducing interest rates and might need to act more aggressively.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising 1%. The Philadelphia Housing Index was climbing 1.3%, and the Real Estate Select Sector SPDR Fund added 1%. Bitcoin was increasing 0.6% to $109,669, and the yield for 10-year US Treasuries was rising 2 basis points to 4.19%. In economic news, US person...
National Bank of Canada on Thursday maintained its outperform rating on the shares of Spin Master (SNMSF) while cutting its target price to C$27.00 from C$29.00 and provided an earnings preview for the company's third quarter. The bank said it is not clear how some late September shipments may or not fall into October.
Seven filings were submitted in response to President Donald Trump's request for the Supreme Court to remove barriers from ousting Federal Reserve Gov. Lisa Cook before litigation proceeds. Most filings argued for the Court to deny the president's application.
US consumer sentiment dropped in September amid concerns regarding the prospects of higher inflation and labor market deterioration, final survey results from the University of Michigan showed Friday. The main sentiment index fell to 55.1 this month from 58.2 in August, lower than the initial reading of 55.4, which was the consensus in a Bloomberg poll.
National Bank of Canada Thursday raised Versamet Royalties' price target to $13 from $11 while its outperform rating remained unchanged. Versamet recently announced its purchase of a 90% silver stream on the Rosh Pinah zinc mine in Namibia and a 2.75% NSR royalty on the Santa Rita nickel mine in Brazil for cash consideration of $125 million, plus contingent payments of up to $45 million.
National Bank of Canada Thursday retained Endeavour Silver's outperform rating and $16 price target. Endeavour announced drill results from its ongoing exploration program at the Kolpa mine in Peru, which the bank valued at $205 million, making up 11% of the company's overall asset net asset value.
For RBC Economics, the bottom line is that the 0,2% increase in July GDP was slightly above Statistics Canada's 0.1% advance estimate a month ago and broadly confirmed earlier signs that the Canadian economy steadied early in Q3 after contracting in the immediate wake of aggressive U.S. tariffs imposed globally in Q2.
US consumer spending accelerated in August at the fastest pace since March, while the Federal Reserve's preferred inflation metric held steady on an annual basis, government data showed Friday. Personal consumption expenditures increased 0.6% last month, the Bureau of Economic Analysis reported.
The University of Michigan consumer sentiment index was revised downwards on Friday to a reading of 55.1 for September from the 55.4 print in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg as of 7:30 am ET. That was below the final reading of 58.2 in August.
Canadian GDP rose 0.2% in July, a touch above forecasts on goods-sector strength, but Desjardins' Tiago Figueiredo says the momentum is fading with a flash estimate showing August stalled and Q3 growth tracking near 0.5%, reinforcing his view of a 2.00% policy-rate trough. Canadian GDP rose more than expected in July, but that "strength appeared to be fleeting", Figueiredo said Friday.
Gold traded higher early on Friday as a key U.S. inflation measure rose last month but matched expectations, clearing the way for another interest-rate cut from the Federal Reserve next month. Gold for December delivery was last seen up $11.50 to US$3,782.60 per ounce.
The Canadian economy posted its first gain in four months with a 0.2% rise in July GDP before likely stalling in August, CIBC's Andrew Grantham said, leaving Q3 growth tracking 0.8% annualized-just below the BoC's 1.0% projection-and putting upcoming jobs and CPI data in focus for a potential October rate cut.
BGC Group (BGC) said Friday it extended its offer to exchange up to $700 million of 6.15% senior notes due 2030 to Oct. 3 from the previous expiration date of Sept. 25. The notes, issued and sold by the company in April in a private offering, will be exchanged for an equal amount of registered 6.15% senior notes due 2030 under the exchange offer, BGC said.
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.
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.
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.
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 ...
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) 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.
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.
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 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.
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.
Financial stocks fell in late Thursday afternoon trading, with the NYSE Financial Index down 0.4% and the Financial Select Sector SPDR Fund shedding 0.3%. The Philadelphia Housing Index declined 1.2%, and the Real Estate Select Sector SPDR Fund eased 0.1%. Bitcoin fell 3.5% to $109,494, and the yield for 10-year US Treasuries rose 2.3 basis points to 4.17%. In economic news, US economic growth,...
US equity indexes were lower ahead of the close on Thursday amid better-than-expected GDP growth and initial jobless claims data. The Nasdaq Composite fell 0.54% to 22,375.8, with the S&P 500 down 0.52% to 6,603.1, and the Dow Jones Industrial Average 0.38% lower at 45,944.6. Most sectors fell, with health and consumer discretionary leading the decliners.
The US economy grew in the second quarter at a faster pace than previously projected amid an upward revision to consumer spending, a third estimate by the Bureau of Economic Analysis showed Thursday. Real gross domestic product in the world's largest economy increased at an annualized rate of 3.8% in the June quarter, stronger than a 3.3% pace pegged in the second estimate.
Financial stocks fell in late Thursday afternoon trading, with the NYSE Financial Index down 0.5% and the Financial Select Sector SPDR Fund shedding 0.4%. The Philadelphia Housing Index declined 1.2%, and the Real Estate Select Sector SPDR Fund eased 0.1%. Bitcoin fell 3.3% to $109,909, and the yield for 10-year US Treasuries rose 2.3 basis points to 4.17%. In economic news, US economic growth,...
The third estimate for Q2 GDP showed a 3.8% gain, an upward revision from a 3.3% increase in the previous estimate, with an upward adjustment to personal consumption the main factor. The GDP price index was revised up to a 2.1% gain from a 2.0% increase in the second estimate, with the PCE price index and core PCE price index also adjusted upward from their previous estimates.
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.
Chicago Fed President Austan Goolsbee said that he would not be in favor of lowering interest rates too rapidly even as employment data show signs of slowing, suggesting that it is too soon to assume that inflation will slow as well.
Existing home sales in the US dropped less than projected in August as mortgage rates decreased, data from the National Association of Realtors showed Thursday. Sales fell 0.2% sequentially to a seasonally adjusted annual rate of 4 million units last month.
Golar LNG said Thursday it priced a $500 million private offering of 7.5% senior unsecured notes due 2030 at par. The offering is expected to be completed on Oct. 2, subject to closing conditions, the company said. Shares of the company fell 1.6% in recent trading. Price: 40.58, Change: -0.66, Percent Change: -1.61. MT Newswires does not provide investment advice.
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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