With pension fund hedging largely in the rearview mirror, interest rate differentials are likely to become a more dominant driver of foreign exchange movements, said Desjardins. Uncertainty remains around which central bank -- the Bank of Canada or the Federal Reserve -- will ultimately ease more relative to current market pricing, stated Desjardins.
National Bank of Canada maintained its Outperform rating and $4.25 price target for Foran Mining (FMCXF) after a site tour of the McIlvenna Bay project in Saskatchewan. The site was significantly further advanced since the bank's last visit in October 2023, with construction 56% complete and progressing 6-8% per month.
Political dysfunction is far and away the leading economic and policy concern for muni market participants, according to a new Bond Buyer infrastructure survey.
Bank of Tanzania Thursday said its Monetary Policy Committee decided to leave the central bank rate at 5.75%. Inflation in mainland Tanzania was 3.4% year over year in August, "well" within the target range of 3%-5%, while in Zanzibar it declined to 4.0% year over year from 4.2%, which was also within the target, noted BoT in its policy statement.
ING said it expects the Reserve Bank of New Zealand to cut rates by 25bps to 2.75% next Wednesday, in line with consensus and pricing. Markets are betting on two more cuts after October, which looks a bit premature, having not yet seen Q3 consumer price index data, wrote the bank in a note.
While the cost of caring for older people can pressure municipal issuers, in states like Florida wealthy seniors can also contribute to economic vibrancy.
The yen weakened modestly at the start of Thursday's European trading session following a closely watched speech from Bank of Japan Deputy Governor Shinichi Uchida, said MUFG. The Japanese rate market has moved recently to price in a much higher probability of the BoJ resuming rate hikes at the end of this month, wrote the bank in a note to clients.
Wall Street futures pointed again to new highs, as investors crowded back into tech shares and bet on rate cuts from the Federal Reserve. Following the sagging ADP national employment report on Wednesday, the CME FedWatch tool estimates a 98.9% chance of a 0.25% rate cut at the central bank's late October policy session.
Eurozone inflation accelerated on Wednesday, with the headline consumer price index hitting 2.2% year over year while core stayed at 2.3% for the fifth consecutive month, said ING. The figures were fully in line with market expectations and largely driven by energy prices, wrote the bank in a note.
California Water Service (CWT) said late Wednesday it sold $170 million worth of senior unsecured notes and, through a subsidiary, $200 million of first mortgage bonds in private placement deals. The notes consist of $70 million of series A 4.87% notes due 2032 and $100 million of series B 5.22% notes due 2035, while the bonds consist of $200 million of 5.64% bonds maturing 2055, the company said.
Shutdowns that delay data and weaken fiscal visibility often encourage central banks to act more cautiously, while rising yields in Japan hint at policy shifts that could ripple through global funding markets.
California Water Service Group (CWT) today announced today the sale of $170,000,000 in aggregate principal amount of Senior Unsecured Notes by Group and $200,000,000 in aggregate principal amount of First Mortgage Bonds by California Water Service Company, a wholly owned subsidiary of Group, in private placement transactions.
Summit Utilities Oklahoma used reserve funds to help cover an Oct. 1 payment on taxable bonds sold in 2022 through the Oklahoma Development Finance Authority.
Two surveys released Wednesday presented mixed trends in the US manufacturing sector for September, with Institute for Supply Management data showing continued contraction and an S&P Global (SPGI) report indicating growth losing steam amid tariffs-related concerns. The ISM purchasing managers' index edged up to 49.1 last month from 48.7 in August, but marked a seven straight month of contraction.
There were several developments since the July Monetary Policy Report that pushed the Bank of Canada to resume an interest rate easing cycle in September, even as there were some arguments in favour of keeping policy unchanged, while Governing Council members didn't offer any clues about the future path, said Tiago Figueiredo over at Desjardins after reading the central bank's latest 'Summary o...
The Supreme Court said that they would hear oral arguments on President Trump's ability to dismiss Fed Governor Lisa Cook in January, allowing her to remain in her position until at least then, and possibly until their ruling in the summer.
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.5% and the Financial Select Sector SPDR Fund shedding 0.7%. The Philadelphia Housing Index was easing 0.1%, and the Real Estate Select Sector SPDR Fund was slipping 0.2%. Bitcoin was increasing 3.1% to $117,536, and the yield for 10-year US Treasuries was decreasing 3 basis points to 4.12%. US ...
US equity indexes were mixed in midday trading on Wednesday as healthcare helped offset losses, while a failure by lawmakers to extend fiscal-year 2025 funding by Tuesday midnight sent government bond yields lower.
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.5% and the Financial Select Sector SPDR Fund lower by 0.7%. The Philadelphia Housing Index was easing 0.1%, and the Real Estate Select Sector SPDR Fund was slipping 0.2%. Bitcoin was increasing 3.1% to $117,536, and the yield for 10-year US Treasuries was decreasing 3 basis points to 4.12%. In ...
National Bank of Canada on Wednesday maintained an outperform rating and C$84.00 price target on the shares of Exchange Income (EIFZF) ahead of the company's third quarter results.
Employment in the US private sector fell in September, Automatic Data Processing (ADP) reported Wednesday, while a federal government shutdown left the release of the official jobs report for last month in limbo. Private jobs decreased by 32,000 last month, ADP reported.
Quebec's provincial government released its public accounts for the 2024-25 fiscal year on Friday, with the deficit for FY25 improving from $8.1 billion to $5.2 billion, representing 0.8% of gross domestic product, said Desjardins. The fiscal improvement for FY25, first hinted at in a late June release, is driven by both stronger own-source revenues and lower-than-expected spending.
National Bank of Canada maintained Topaz Energy's Outperform rating and $33.50 price target after the company announced a tuck-in acquisition, which it said was "highly complementary." The $72 million transaction with Tourmaline Oil (TRMLF) continues to expand and compound Topaz's value trajectory, National Bank said.
National Bank of Canada kept DPM Metals' Outperform rating and $38.50 price target unchanged as its Loma Larga feasibility study showed a "buoyant" net present value at spot prices. The feasibility study shows an after-tax NPV above National Bank's carrying value, tempered by higher capital expenditures and a potential environmental license suspension amid opposition from local stakeholders.
The Reserve Bank of Australia held its cash rate at 3.6% this week, as widely expected, said UBS. The press release struck a slightly hawkish tone as it highlighted stronger data on growth and inflation, while RBA Governor Michele Bullock surprisingly kept a dovish tilt in the press conference, wrote the bank in a note to clients.
Sophisticated issuers and investors shared insights into how they navigate the complexities of the municipal bond market at The Bond Buyer Infrastructure event.
The Institute for Supply Management's US manufacturing index rose to 49.1 in September from 48.7 in August, slightly above the expectations for a 49.0 reading in a survey compiled by Bloomberg as of 7:50 am ET. There were gains in the readings for production, employment and order backlogs, but declines in the readings for new orders and prices.
Among the many impacts of the current federal government shutdown is the postponement of key government-produced economic data releases, sources of information that the Federal Reserve will want as it considers another rate reduction at its next meeting, Oct. 28-29.
The eurozone inflation rate rose from 2.0% year over year to 2.2% in September, as expected, said Commerzbank. The main reason for this was that energy prices were only 0.4% lower than a year earlier, wrote the bank in a note to client.
A closely watched private payrolls report unexpectedly showed job losses in September, stoking fresh doubts about U.S. labor market resilience and reinforcing bets that the Federal Reserve could lower interest rates again soon. The ADP National Employment Report recorded a net loss of 32,000 private-sector jobs in September 2025, the weakest monthly performance since March 2023.
A closely watched private payrolls report unexpectedly showed job losses in September, stoking fresh doubts about U.S. labor market resilience and reinforcing bets that the Federal Reserve could lower interest rates again soon. The ADP National Employment Report recorded a net loss of 32,000 private-sector jobs in September 2025, the weakest monthly performance since March 2023.
ADP's monthly measure of private payrolls showed a 32,000 decrease in September, compared with expectations compiled by Bloomberg as of 7:50 am ET for an increase of 51,000. The September decrease followed a downwardly revised 3,000 drop in August.
Skyward Specialty Insurance Group (SKWD), Inc.??, a leader in the specialty property and casualty market, announced the launch of Skyward Specialty EndWell Protection, an industry-first well decommissioning solution built on an escrow-secured bond model.
The Board of Directors of Colombia's central bank maintained the interest rate at 9.25% in a divided vote on Tuesday, with the majority opting for monetary stability following the rise in inflation to 5.1% in August and increased inflation expectations for 2025 and 2026, said BBVA Research.
Two months after property tax payments would normally be due, Cook County, Illinois, is still struggling to send out accurate bills for the second part of 2024.
Nearly $29 billion of the $30 billion cap has been allocated, said Morteza Farajian, director of the Department of Transportation's Build America Bureau.
MUFG said evidence is mounting that the Bank of Japan could raise rates at its Oct. 30 policy meeting, with Wednesday's Tankan survey for the three months to September offering support for such a move. The bank noted the BoJ places significant weight on the quarterly Tankan, making the latest results crucial.
Energy Fuels (UUUU), a U.S. producer of uranium, rare earths, and critical minerals, was at last look down 0.5% after it announced earlier Wednesday the pricing of US$600 million aggregate principal amount of 0.75% Convertible Senior Notes due 2031 in a private placement. The size of the offering was increased from the previously announced $550.0 million aggregate principal amount of notes.
A speech by European Central Bank President Christine Lagarde was read as mildly dovish on Tuesday, in that the ECB being in a 'good place' didn't prevent it from adjusting interest rates, said ING. Recent German activity data hasn't come in on the soft side and markets haven't completely ruled out one further ECB cut, note the bank in a note.
Ellington Financial (EFC) said late Tuesday it priced its offering of $400 million of 7.375% senior unsecured notes due 2030. The company expects the offering to close Monday and plans to use the net proceeds for general corporate purposes. MT Newswires does not provide investment advice.
The Fed?s most recent rate cut initially provided a modest boost to Bitcoin, but investors say the path forward depends less on past easing than on Powell?s Tuesday speech and upcoming jobs data that is scheduled to be released on Friday.
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.
Log In Required
Publication Date