Commerzbank in its "European Sunrise" note of Monday highlighted: Markets: United States Treasury yields rise across the board, led by long-end. Fed: Federal Reserve Bank of Dallas President Lorie Logan says "we're furthest away on the inflation side" of policy objectives. U.S.: President Donald Trump says "we're ready to go back" on the shutdown.
The Canadian Labour Force Survey on Friday will be closely watched ahead of the Bank of Canada's next interest rate decision on Oct. 29 after last month's cut, said RBC. The BoC made the move in September following a deterioration in the labor market over the summer.
US equity investors will focus on the meeting minutes from the Federal Open Market Committee and quarterly earnings this week as they await a lifting of the partial federal government shutdown.
Danaos (DAC) said Monday it plans a private offering of up to $500 million of senior notes due 2032, subject to market conditions and other factors. The company intends to use the net proceeds to fully redeem the $262.8 million outstanding principal amount of its 8.5% senior notes due 2028 on or about March 1, 2026, among other things. Danaos (DAC) shares were up 2.9% in recent premarket activity.
US equity indexes were mixed on Friday after hitting new record highs as investors largely shrugged off the ongoing partial federal government shutdown and data showed a key services index slipped into neutral territory.
The Texas Transportation Finance Corp. leads the new-issue calendar with $1.739 billion of subordinate tier toll revenue and refunding bonds, followed by New York City with $1.5 billion of general obligation bonds.
Financial stocks advanced in late Friday trading, with the NYSE Financial Index up 0.9% and the Financial Select Sector SPDR Fund adding 0.8%. The Philadelphia Housing Index rose 0.9%, and the Real Estate Select Sector SPDR Fund increased 0.6%. Bitcoin gained 1.7% to $122,686, and the yield for 10-year US Treasuries increased 3 basis points to nearly 4.12%. In economic news, the Institute for S...
Financial stocks advanced in late Friday afternoon trading, with the NYSE Financial Index up 0.9% and the Financial Select Sector SPDR Fund adding 0.8%. The Philadelphia Housing Index rose 0.9%, and the Real Estate Select Sector SPDR Fund increased 0.6%. Bitcoin gained 1.7% to $122,686, and the yield for 10-year US Treasuries increased 3 basis points to nearly 4.12%. In economic news, the Insti...
Federal Reserve Vice Chair Philip Jefferson said Friday that the economic outlook is uncertain and that he was adopting a cautious approach to gauging whether slowing growth and a softening labor market outweigh inflation pressures from tariffs.
The Federal Reserve Board on Friday approved BancFirst Corporation's (BANF) application to acquire AmeriBank Holding Company and its subsidiary, American Bank of Oklahoma, in Collinsville. Following the deal, BancFirst (BANF) plans to operate American Bank of Oklahoma separately before merging it with BancFirst (BANF), its Oklahoma City-based state member bank.
Fitch revised its outlook on the AAA-rated southern California to negative. The city is grappling with child sexual abuse claims from hundreds of people against one former employee.
US benchmark equity indexes were mixed intraday as a federal government shutdown entered its third day, delaying the highly anticipated September jobs report. The Nasdaq Composite was down 0.4% at 22,744.6 after midday Friday, while the Dow Jones Industrial Average rose 0.7% to 46,829. Among sectors, consumer discretionary saw the steepest drop intraday Friday, while utilities paced the gainers.
The CTA's funds have been "put on hold to ensure funding is not flowing via race-based contracting," Office of Management and Budget Director Russell Vought said.
Financial stocks advanced in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding about 1.1%. The Philadelphia Housing Index climbed 1.2%, and the Real Estate Select Sector SPDR Fund gained 0.7%. Bitcoin rose 1.8% to $122,750, and the yield for 10-year US Treasuries increased 3 basis points to 4.11%. In economic news, the Institute for Su...
Financial stocks advanced in Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 1.1%. The Philadelphia Housing Index climbed 1.2%, and the Real Estate Select Sector SPDR Fund gained 0.7%. Bitcoin rose 1.8% to $122,750, and the yield for 10-year US Treasuries increased 3 basis points to 4.11%. In corporate news, White Mountains Insurance (WTM) ...
Two surveys released Friday painted a mixed picture of the US services sector for September, with Institute for Supply Management data showing a surprise stagnation and S&P Global (SPGI) indicating slight deceleration in growth. The ISM's purchasing managers' index dropped to 50 last month from 52 in August.
The European stock markets closed mostly higher in Friday trading as the Stoxx Europe 600 gained 0.49%, the FTSE 100 rose 0.67%, France's CAC increased 0.31%, the Swiss Market Index advanced 0.64%, while Germany's DAX was off 0.15%. The euro area economy grew for the fourth straight month as the HCOB Eurozone Composite PMI Output Index rose to 51.2 in August from 51.0 the previous month.
National Bank of Canada Friday retained Open Text's (OTEX) outperform rating and US$45 price target. OpenText recently announced the divestiture of its eDOCS solution, part of the company's analytics portfolio, for $163 million to NetDocuments.
The Institute for Supply Management's US services index fell to a reading of 50.0 in September from 52.0 in August, compared with expectations for a smaller decrease to a reading of 51.7 in a survey compiled by Bloomberg as of 7:45 am ET, indicating neither expansion nor contraction.
UBS said it expects the Reserve Bank of New Zealand to deliver a 50bps cut at Wednesday's policy meeting after a significantly weaker-than-expected gross domestic prodcut print, more balanced inflation risks and only tentative signs of a recovery into 2026.
The US dollar was mixed against its major trading partners early Friday - up versus the yen and Canadian dollar, down versus the euro and pound -- as the US government shutdown extends into its third day. The Senate is expected to vote again Friday afternoon to end the shutdown, but that comes too late for the September nonfarm payrolls employment data, which will be postponed.
USD/CAD has come off its 1.36 lows lately, noted UBS. While much of the support was driven by the US dollar, the Canadian dollar also played a role, wrote the bank in a note to clients. Signs of weakness are now clearly visible in the Canadian economy, said UBS. As a consequence, the September Labour Force Survey data due next week bear watching, stated the bank.
There have been only modest foreign exchange moves so far on Friday, but amongst these modest moves, the yen is the underperformer, said MUFG. The slightly weaker yen is down to the comments from Bank of Japan Governor Kazuo Ueda. However, a strong signal from Ueda on Friday was never a likely prospect ahead of the LDP leadership election on Saturday, stated MUFG.
"While the shutdown will eventually be resolved, present circumstances may catalyze tactical investment opportunities as a way to capture even more compelling yield and income opportunities," said Jeff Lipton, municipal market intelligence analyst for The Bond Buyer.
Four cities were ordered to halt recent tax hikes pending an investigation of whether they complied with a state law that enforces a deadline for annual audits.
Financial stocks were lower in late Thursday trading, with the NYSE Financial Index shedding 0.3% and the Financial Select Sector SPDR Fund easing 0.1%. The Philadelphia Housing Index advanced 0.1%, and the Real Estate Select Sector SPDR Fund fell 0.5%. Bitcoin gained 1.9% to $120,925, and the yield for 10-year US Treasuries declined 2 basis points to 4.09%. In economic news, US employers annou...
Over at Desjardins, Tiago Figueiredo noted today's address by Deputy Governor, Rhys Mendes, to the Ivey Business School in London, Ontario, was centered around how the Bank of Canada will assess underlying inflation going forward.
Financial stocks were mixed in late Thursday afternoon trading with the NYSE Financial Index shedding 0.3% and the Financial Select Sector SPDR Fund rising 0.1%. The Philadelphia Housing Index advanced 0.2%, and the Real Estate Select Sector SPDR Fund fell 0.7%. Bitcoin gained 1.9% to $120,925, and the yield for 10-year US Treasuries declined 2 basis points to 4.09%. In corporate news, Morgan S...
Chicago Fed President Austan Goolsbee said he is not certain whether tariff-driven inflation will prove temporary or persistent, telling Fox Business that recent price data are moving in the wrong direction.
US job cuts fell in September and the third quarter sequentially, Challenger Gray & Christmas said Thursday, while an ongoing federal government shutdown could delay the release of the official jobs report for last month. US-based employers announced 54,064 job cuts last month, down 37% month on month and 26% annually, the global outplacement firm said.
Financial stocks were decreasing in Thursday afternoon trading, with the NYSE Financial Index shedding 0.6% and the Financial Select Sector SPDR Fund down 0.4%. The Philadelphia Housing Index was fractionally higher, and the Real Estate Select Sector SPDR Fund was decreasing 0.6%. Bitcoin was increasing 0.9% to $119,743, and the yield for 10-year US Treasuries was declining 2 basis points to 4....
Financial stocks were decreasing in Thursday afternoon trading, with the NYSE Financial Index shedding 0.6% and the Financial Select Sector SPDR Fund down 0.4%. The Philadelphia Housing Index was fractionally higher, and the Real Estate Select Sector SPDR Fund was decreasing 0.6%. Bitcoin was increasing 0.9% to $119,743, and the yield for 10-year US Treasuries was declining 2 basis points to 4....
National Bank of Canada on Wednesday maintained a sector-perform rating and C$4,500 price target on the shares of Constellation Software (CNSWF) after the company hosted a conference call and Q&A to discuss the transition in management from Founder Mark Leonard to new President Mark Miller.
While the eurozone jobless rate edged up from the series low on Thursday, longer-dated German Bunds made modest gains, said Capital Markets. September's final services and composite PMIs, due on Friday, are expected to reaffirm the modest uptick in eurozone economic activity at the end of Q3 signalled by the preliminary estimates, noted the bank.
European stock markets closed mostly higher in Thursday trading as The Stoxx Europe 600 rose 0.59%, Germany's DAX gained 1.35%, the FTSE 100 was off 0.2%, France's CAC increased 1.13%, and the Swiss Market Index advanced 0.54%. The euro area seasonally-adjusted unemployment rate rose to 6.3% in August from 6.2% in July, and was unchanged from a year earlier, while European Union unemployment wa...
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.34%. ?The 30-year fixed-rate mortgage increased again this week but remains below its 52-week average of 6.71%,? said Sam Khater, Freddie Mac?s Chief Economist.
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.
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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