Financial stocks were decreasing in Tuesday afternoon trading, with the NYSE Financial Index dropping 1% and the Financial Select Sector SPDR Fund falling 1.3%. The Philadelphia Housing Index was shedding 0.5%, and the Real Estate Select Sector SPDR Fund was down 0.3%. Bitcoin was declining 0.6% to $113,211, and the yield for 10-year US Treasuries shed 1 basis point to 4.13%. In corporate news,...
Energy Fuels Inc. (UUUU) shares are trading lower on Tuesday after the company said it would engage in a convertible debt offering to raise capital. What To Know: Energy Fuels?s stock fell more than 8% after the company announced an offering of $550 million of convertible senior notes due in 2031.
US consumer confidence this month deteriorated to its lowest level since April amid concerns about the labor market, while 12-month inflation expectations declined, a report by the Conference Board showed Tuesday. The consumer confidence index dropped 3.6 points sequentially to 94.2 in September.
US job openings rose in August, while hiring eased as markets weighed the prospects of a potential federal government shutdown that could delay crucial economic data, including Friday's nonfarm payroll report. Vacancies increased to 7.23 million as of the last day of August from 7.21 million the month before, according to the Bureau of Labor Statistics' job openings and labor turnover survey.
Federal Reserve Vice Chair Philip Jefferson said despite the near term cloudiness to economic projections, he does expect inflation to resume its downward trajectory next year and reach the Fed's 2% inflation target in the coming years.
ING continues to expect the Australian dollar to maintain its good performance into a seasonally favorable Q4. With the Reserve Bank of Australia now sounding more cautious on rate cuts, AUD can attract good buying flows until the data offers more clarity, wrote the bank in a note. The RBA held the cash rate steady at 3.6% earlier Tuesday.
Thermo Fisher Scientific Inc. (TMO) is tapping the U.S. investment-grade bond market with a four-part, dollar-denominated offering, as companies move to secure funding ahead of a potential U.S. government shutdown. Citing sources familiar with the matter, Bloomberg noted that the longest tranche of the sale ?a 12-year security ?could yield about one percentage point above Treasuries.
When the Bank of Canada began cutting rates in summer 2024, the prevailing view was that it would reignite a housing frenzy, Rosenberg Research said. "That has not happened at all," noted Rosenberg Research. The BoC has taken the policy rate from 5.0% to 2.5%, but housing starts and home sales have gone nowhere, stated Rosenberg.
The Conference Board's measure of consumer confidence fell to 94.2 in September from 97.8 in August, below a reading of 96.0 expected in a survey compiled by Bloomberg as of 7:35 am ET and the lowest level since April 2025.
The Institute for Supply Management's Chicago PMI reading fell to 40.6 in September from 41.5 in August, compared with an expected 43.3 print in a survey compiled by Bloomberg as of 7:35 am ET. Other regional manufacturing data already released for September have indicated mixed results. The national ISM manufacturing index is due to be released on Wednesday.
Greystone, a leading national commercial real estate finance company, announced the closing of a $30,000,000 Freddie Mac Conventional loan for Sloane Chelsea, a 266-unit high-rise multifamily property located at 360 West 34th Street in New York, NY. The financing was originated by Robert Meehan, Managing Director at Greystone.
The consensus is overwhelmingly for no policy change on Tuesday at Colombia's central bank, said Societe Generale. The bank doesn't rule out a 25bps cut to 9.0% following a narrow 4-3 vote in favor of a hold in July. The hawkish hold at the last meeting presents upside risk to SocGen's house view for 8.75% by end 2025 and 7.25% at the end of 2026. MT Newswires does not provide investment advice.
"The intersection between the public impact and the financial markets is unique and it brings a lot of good people to the same place. I really enjoy being a part of this community," Connor Benoit said.
Since joining Orrick in Los Angeles more than a decade ago, Steffi Chan has brought her technical expertise and leadership skills to her local government and state agency clients.
Since joining Ramirez's Texas public finance banking team six years ago, Sara Cheek has participated in more than $50 billion of bond issuances for various clients across Texas.
Conza has led multiple financings for the airport's multibillion dollar capital program as he strategically plans for future aviation needs that serve both the local community and air travelers.
Since joining Ramirez's Texas public finance banking team six years ago, Sara Cheek has participated in more than $50 billion of bond issuances for various clients across Texas.
"Jenna's ability to proactively identify and assess weaknesses and events that have impacted her covered credits has been instrumental in the company's risk managing efforts," said Victor Chu, a managing director with Assured Guaranty.?
"Public finance isn't about just numbers or documents," said Charity Karanja. "It's about enabling access, driving development and creating opportunities."
"Municipal finance ? especially bond insurance ? is pretty niche, so BAM's managment realizes we need to be proactive in introducing the industry to young professionals," said Ben O'Malley.
Tom Ricchiuto credits his multiple mentors for building his confidence and skills and encouraging him to be himself, be human, and remember that clients and colleagues are people first.?
"Early on in my career I learned to search for opportunities. It's like hitting a really good golf shot and then you are hooked," said Cameron Thatcher. "That was me."
As bond counsel, Walsh has financed health care and affordable care facilities, continuing care retirement communities, charter schools and many other nonprofit organizations.
"Taking the time to inspire, mentor and grow someone's knowledge is a benefit to the industry. I want to be someone the next generation can look to help them find their path," said Tom Zemetis.
The Case-Shiller National Home Price index fell by 0.2% in July before seasonal adjustment following a 0.1% increase in June. National home prices were up 1.7% year-over-year, slower than the 1.9% gain in June and one of the weakest rates in the last 10 years according to S&P. The 10-city index and 20-city index both fell by 0.3% in the month.
The FHFA's measure of home prices fell by 0.1% in July after an unrevised 0.2% decrease in the previous month, less than the 0.2% drop expected in a survey compiled by Bloomberg as of 7:35 am ET. Prices were up 2.3% from a year earlier in July. Home prices declined in five of the nine regions from June, was up in three regions and held steady in one region.
Carnival Corporation (CCL) said Tuesday it has commenced a private offering of new senior unsecured notes worth $1.25 billion, expected to mature in 2029. The cruise company said it intends to use the proceeds, together with cash on hand, to fully redeem its $2 billion 6% senior unsecured notes due 2029. MT Newswires does not provide investment advice.
Since spring this year, eurozone inflation has fluctuated closely around the 2.0% year-over-year target, said Berenberg. While inflation has likely increased in September, judging by Tuesday's data from key member states, such a short-term uptick would still be no reason for the European Central Bank to shift its policy stance, in Berenberg's view.
A hold would surprise markets more than economists when the Reserve Bank of India offers its latest decision on Wednesday, said Scotiabank. Markets are roughly 80% priced for a cut, but the majority of economists lean toward a hold, noted the bank. The RBI has the cover to cut, given that inflation remains low at close to 2% year over year, pointed out Scotiabank.
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.
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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