The US dollar fell against its major trading partners early Tuesday, except for a gain versus the Canadian dollar, before a busy schedule of economic data releases, starting with weekly Redbook same-store sales at 8:55 am ET. Home price data for July follows at 9:00 am ET and the Chicago purchasing managers' index for September is due to be released at 9:45 am ET.
Several key economic data releases would be halted in case of a partial government shutdown, news outlets reported Monday, citing the US Labor and Commerce departments. This includes the highly anticipated September nonfarm payrolls report, which is currently scheduled for a Friday release, as well as construction spending and possibly international trade data for August, according to the reports.
Societe Generale in its early Tuesday economic news summary pointed out: -- The US dollar and United States Treasury yields stay lower overnight Monday, gold marches on to new high as the U.S. government shutdown hangs over markets.
Starwood Property Trust (STWD) said late Monday it priced an upsized $550 million offering of 2031 notes to fund green and social projects or repay debt. The offering of 5.75% senior notes to qualified institutional investors was upsized from $500 million and priced at 100% of the principal amount, the company said.
Bit Digital (BTBT) said Tuesday it priced a $135 million public offering of 4% convertible senior notes due Oct. 1, 2030, upsized from a previously planned $100 million. Underwriters have a 30-day overallotment option to purchase up to an additional $15 million of the notes.
Bit Digital (BTBT) reported late Monday a proposed public offering of $100 million of its convertible senior notes due 2030. The underwriters in the offering will be given a 30-day option to buy an additional $15 million in notes, to cover over-allotments.
Energy Fuels (UUUU) said late Monday it plans to issue $550 million of convertible senior notes due 2031 to institutional buyers. The company will grant initial buyers a 13-day overallotment option to buy up to an additional $82.5 million of the notes, according to a statement.
The Toronto Stock Exchange eked out another record close on Monday, its first in a week, as Rosenberg Research said "equity markets are frothing, and central banks are committed enablers" before adding "there is no reliable method or quick formula for calling the turn in a FOMO-driven market".
The muni market may be shaken by a government shutdown, driving short-term volatility and wider spreads, said James Pruskowski, a public finance strategist.
Financial stocks were mixed in late Monday afternoon trading, with the NYSE Financial Index down 0.1% and the Financial Select Sector SPDR Fund adding 0.3%. The Philadelphia Housing Index was increasing 0.7%, and the Real Estate Select Sector SPDR Fund rose 0.2%. Bitcoin was rising 1.7% to $114,092, and the yield for 10-year US Treasuries fell 5 basis points to 4.14%. In economic news, pending ...
Financial stocks were mixed in late Monday afternoon trading, with the NYSE Financial Index down 0.1% and the Financial Select Sector SPDR Fund adding 0.3%. The Philadelphia Housing Index was increasing 0.7%, and the Real Estate Select Sector SPDR Fund rose 0.2%. Bitcoin was rising 1.7% to $114,092, and the yield for 10-year US Treasuries fell 5 basis points to 4.14%. In economic news, pending ...
The Dallas Federal Reserve's monthly manufacturing reading fell to minus 8.7 in September from minus 1.8 in August. The National Association of Realtors' pending home sales index jumped by 4% in August, above expectations for a flat reading. The NAR's existing-home sales data for September are scheduled for release on Oct. 23. MT Newswires does not provide investment advice.
Financial stocks were mixed in Monday afternoon trading, with the NYSE Financial Index down 0.1% and the Financial Select Sector SPDR Fund adding 0.1%. The Philadelphia Housing Index was increasing 0.1%, and the Real Estate Select Sector SPDR Fund eased 0.1%. Bitcoin was rising 3% to $113,918, and the yield for 10-year US Treasuries was falling 5 basis points to 4.14%. In economic news, pending...
National Bank of Canada on Monday maintained its outperform rating on the shares of Cineplex (CPXGF) while cutting its target price to $13.00 from $13.50 as it provided a preview for the company's third-quarter results. The bank noted that box office in July was up 0.4% and down 27% in August and said it estimates it to grow 8.5% in September and fall 8.5% for Q3 to $160 million.
US equity indexes traded mixed while government bond yields fell after midday Monday, ahead of the looming shutdown of the federal government. The Nasdaq Composite rose 0.5% to 22,596.1, and the S&P 500 climbed 0.2% to 6,657.2. The Dow Jones Industrial Average, however, slipped 0.2% to 46,168.3. Energy was the standout decliner intraday, while technology and consumer discretionary led the gainers.
Financial stocks were mixed in Monday afternoon trading, with the NYSE Financial Index down 0.1% and the Financial Select Sector SPDR Fund adding 0.1%. The Philadelphia Housing Index was increasing 0.1%, and the Real Estate Select Sector SPDR Fund was up 0.1%. Bitcoin was rising 1.3% to $113,651, and the yield for 10-year US Treasuries was dropping 5 basis points to 4.14%. In corporate news, Bl...
Shares of Wells Fargo (WFC) and US Bancorp (USB) have limited upside potential, Morgan Stanley said in a note as the brokerage downgraded ratings on both banks to equal-weight from overweight. Wells Fargo (WFC) had been subject to asset growth restrictions for more than seven years, before the Federal Reserve removed that requirement in June.
Keyera (KEYUF) said Monday it has closed its offerings of $2.3 billion of senior unsecured notes and $500 million of fixed-to-fixed rate subordinated notes. Proceeds will be used to fund a portion of the purchase price of Keyera's (KEYUF) acquisition of Plains Midstream Canada, which was announced last June.
Israel's central bank Monday said its Monetary Committee decided to leave the interest rate unchanged at 4.50%. "In view of the intensification of the fighting in Gaza and a deterioration in international sentiment toward Israel, uncertainty in the geopolitical environment is high," wrote BoI in its policy statement explaining why it kept the rate on hold.
Israel's central bank Monday said its Monetary Committee decided to leave the interest rate unchanged at 4.50%. "In view of the intensification of the fighting in Gaza and a deterioration in international sentiment toward Israel, uncertainty in the geopolitical environment is high," wrote BoI in its policy statement explaining why it kept the rate on hold.
Deloitte Canada expects the economy to "limp along" in Q3 but avoid a technical recession, with growth running below potential. Canada's gross domestic product fell 1.6% year over year in Q2.
The Reserve Bank of Australia is scheduled to release its policy statement at 12:30 a.m. ET on Tuesday, bringing this nerve-wracking month of nine G10 central bank meetings to a close --the New Zealand central bank isn't due to meet until next week, said Commerzbank.
Medtronic (MDT) said Monday that its wholly-owned indirect subsidiary has completed a 1.5 billion euros public bond offering, issuing 750 million euros of 2.95% senior notes due 2030 and 750 million euros of 4.2% senior notes due 2045.
The price of gold surged to $3,800 per ounce on Monday, sending the market value of U.S. gold reserves past the $1 trillion mark?but on the government's books, it's still worth pennies in comparison. The U.S. holds 261.5 million troy ounces of gold, or 8,133 metric tons.
Most expect Colombia's central bank to hold its overnight lending rate at 9.25% on Tuesday, said Scotiabank. First up is consideration of the signals being sent by the Board, which is made up by the minister of finance, who presides over the Board, and six members including the governor, noted the bank.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood and Wildfire Scores, according to ICE Climate Data. A $30 million offering from Sea Island, N.J., records a Flood Score of 5.0 out of 5.0, ICE reports.
Ellington Financial (EFC) said Monday that it plans to offer $400 million in aggregate principal amount of senior unsecured notes due 2030 through certain of its units. The company said it will fully and unconditionally guarantee the notes.
Starwood Property Trust (STWD) said Monday that it is offering $500 million aggregate principal amount of its unsecured senior notes due 2031 in a private offering. The company said it plans to use a portion of the net proceeds to finance or refinance, recently completed or future eligible green, social projects.
The US dollar fell against its major trading partners early Monday to start a busy week of economic data that concludes with the September employment report Friday, all the while the threat of another government shutdown looms ahead of the Tuesday night deadline.
Macroeconomic data took a back seat for much of last week in Canada, until the gross domestic product report landed on Friday, said TD. Earlier in the week, the spotlight was on central bankers and policymakers at the United Nations General Assembly, noted the bank.
A quiet week for Canadian economic data will keep attention on the U.S. labor market, with Friday's payrolls report in focus, RBC said. The U.S. release is scheduled for Friday but could be delayed if a government shutdown begins Wednesday, the bank said. Canada's own monthly labor force survey will follow a week later.
US equities rebounded Friday after a three-day drop as traders weighed remarks by two Federal Reserve officials and an upbeat consumer spending report. The Dow Jones Industrial Average rose 0.7% to 46,247.3, while the S&P 500 climbed 0.6% to 6,643.7. The Nasdaq Composite advanced 0.4% to 22,484.1. Barring consumer staples, all sectors ended in the green, led by utilities.
Broadstone Net Lease (BNL) said late Friday it closed a $350 million offering of 5% senior unsecured notes due 2032. The notes were priced at 99.151% of the principal amount. The proceeds will be used for acquisitions, debt repayment under BNL's $1 billion credit facility and other indebtedness, as well as general corporate needs, the company said. MT Newswires does not provide investment advice.
* US equity indexes were lower this week as higher-than-expected US Q2 GDP growth, as well as a drop in jobless claims, pared expectations of future rate cuts. * The S&P 500 closed at 6,643.7 on Friday versus 6,664.36 a week ago. *US Q2 GDP rose at an annual rate of 3.8%, up from a 0.6% decline in Q1, and higher than the 3.3% forecast in a survey compiled by Bloomberg.
Financial stocks advanced in late Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.9%. The Philadelphia Housing Index climbed 1.6%, and the Real Estate Select Sector SPDR Fund increased 1.1%. Bitcoin rose 0.7% to $109,638, and the yield for 10-year US Treasuries gained 2.1 basis points to 4.189%. In economic news, US personal income ...
The U.S. economy closed the second quarter with a final GDP growth rate of 3.8% ? its strongest performance since the third quarter of 2023 and above the long-term average pace. That's a sharp rebound from the 0.5% contraction in the first quarter, when fears over looming tariffs rattled businesses.
Financial stocks advanced in late Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.9%. The Philadelphia Housing Index climbed 1.6%, and the Real Estate Select Sector SPDR Fund added 1.1%. Bitcoin rose 0.7% to $109,638, and the yield for 10-year US Treasuries gained 2.1 basis points to 4.189%. In corporate news, Riot Platforms (RIOT) shares ...
US benchmark equity indexes were higher intraday as traders assessed remarks by two Federal Reserve officials and the latest macro data. The Dow Jones Industrial Average was up 0.8% at 46,310.4 after midday Friday, while the S&P 500 rose 0.5% to 6,640.1. The Nasdaq Composite advanced 0.3% to 22,451.
Fed Vice Chair for Supervision Michelle Bowman said that recent employment data suggest that the FOMC could already be late in reducing interest rates and that it may need to act more aggressively as a result.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising about 1%. The Philadelphia Housing Index was climbing 1.3%, and the Real Estate Select Sector SPDR Fund added 1%. Bitcoin was increasing 0.8% to $110,035, and the yield for 10-year US Treasuries was rising 2 basis points to 4.19%. In economic news, US ...
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.
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