* Georgieva says current US economic picture not very clear. * Disinflation stalling, but economy also softening, IMF says. * Consumers not feeling full heat of tariffs yet, Georgieva says. By Andrea Shalal.
* Gold shows no sign of stopping. * Yen hits lowest since February; intervention risk rises. * U.S. stock higher, with tech out front. * European shares climb to record. By Caroline Valetkevitch.
U.S. Treasury yields turned positive on Wednesday afternoon, with investors showing tepid demand at an auction of 10-year notes and minutes from last month's central bank meeting holding few surprises.
Financial stocks declined in late Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each decreasing 0.2%. The Philadelphia Housing Index was fractionally higher, and the Real Estate Select Sector SPDR Fund was down 0.6%. Bitcoin was increasing 1.5% to $123,195, and the yield for 10-year US Treasuries was slightly higher at nearly 4.13%. In corp...
KBRA assigns a long-term rating of BBB- to the Unlimited Tax General Obligation Refunding Bonds, Series 2025B and Unlimited Tax General Obligation Refunding Bonds, Series 2025C of the Board of Education of the City of Chicago, IL. The downgrade to BBB- applies to the Series 2025B and Series 2025C Bonds and certain outstanding parity series for which KBRA has not received a legal opinion provide...
Argentina's industrial output fell 4.4% in August compared to the same month last year in non-seasonally adjusted terms, data from national statistics agency INDEC showed on Wednesday. August industrial output in South America's second-largest economy increased 0.6% compared to July in seasonally adjusted terms, according to the INDEC data.
Bond attorneys are skeptical that new hires at the Treasury and the Internal Revenue Service will help the municipal bond community as two men now occupy four key positions.
Most Federal Open Market Committee members were open to additional interest-rate reductions at the Sept. 16-17 FOMC meeting, citing a shift in the balance of risk toward weaker employment data, though they also urged caution, according to minutes released Wednesday.
* Loonie dips 0.1% against the greenback. * Trades in a range of 1.3932 to 1.3971. * Price of oil increases 1.5% * Bond yields were little changed across the curve. By Fergal Smith. The Canadian dollar edged lower against its U.S. counterpart on Wednesday but the move was limited as oil prices rose and investors awaited domestic jobs data at the end of the week.
* Minutes show emerging debate over response to changing risks. * New Fed Governor Miran alone in calling for oversized rate cut. * Majority of policymakers concerned about inflation despite job market risks. By Howard Schneider.
Financial stocks were narrowly mixed in Wednesday afternoon trading, with the NYSE Financial Index increasing 0.2% and the Financial Select Sector SPDR Fund down 0.1%. The Philadelphia Housing Index was flat and the Real Estate Select Sector SPDR Fund was easing 0.3%. Bitcoin was increasing 2% to $123,825, and the yield for 10-year US Treasuries was shedding 1 basis point to 4.11%. Mortgage app...
As the Federal Reserve considers more rate reductions, F/m Investments is introducing a new fund to capture short-duration, tax-free income. The F/m Ultrashort Tax-Free Municipal ETF focuses on callable municipal bonds. The ETF, which tracks the Bloomberg Municipal Bond Currently Callable Index, is the first callable-only muni ETF.
Financial stocks edged higher in Wednesday afternoon trading, with the NYSE Financial Index increasing 0.2% and the Financial Select Sector SPDR Fund up 0.1%. The Philadelphia Housing Index was adding 0.2%, and the Real Estate Select Sector SPDR Fund was easing 0.1%. Bitcoin was increasing 1.6% to $123,354, and the yield for 10-year US Treasuries was shedding 1 basis point to 4.11%. In corporat...
The Reserve Bank of New Zealand surprised markets overnight Tuesday with a larger-than-expected cut in its key interest rate, said Commerzbank. While markets and analysts had primarily anticipated a 25bps cut, the RBNZ went one step further and lowered the cash rate by 50bps to 2.5%, wrote the bank in a note to clients.
* Gold shows no sign of stopping. * Yen at lowest since February; intervention risk rises. * U.S. stock higher; Fed minutes ahead. By Caroline Valetkevitch and Amanda Cooper.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of Al Dhafra Insurance Company P.S.C. [UAE]. The outlook of these Credit Ratings is stable.
International Monetary Fund Managing Director Kristalina Georgieva on Wednesday said she was concerned that public debt was rising more rapidly in advanced economies than low-income countries, and urged countries to address the issue. In low-income countries, she said high debt service payments were eroding already limited fiscal space for needed spending to help their people.
Poland's central bank said Wednesday its Monetary Policy Council decided to reduce interest rates by 25bps, as expected: -- reference rate at 4.50% on an annual basis; -- lombard rate at 5.00% on an annual basis; -- deposit rate at 4.00% on an annual basis; -- rediscount rate at 4.55% on an annual basis; -- discount rate 4.60% on an annual basis. MT Newswires does not provide investment advice.
The Reserve Bank of Australia held rates steady last week and its hawkish tone and the upside risks to inflation mean UBS sees the next rate cut in February 2026 and not November 2025. The bank also noted a rising chance the RBA will remain on hold for an extended period.
With the U.S. government shutdown still clouding official labor statistics, alternative data from private firms and banks is sending a clear message: the labor market is cooling, and markets are betting big that the Federal Reserve will respond with another rate cut at its Oct. 30 meeting.
The Central Bank of Iceland Wednesday said its Monetary Policy Committee kept interest rates unchanged, including the key rate on seven-day term deposits at 7.50%. All MPC members voted in favor of the decision, the central bank said in a statement. Inflation measured 4.1% year over year in September, after rising by 0.3 percentage point from the previous month.
Chile's annual inflation ramped up in September, the country's statistics agency INE said on Wednesday, breaking again above the central bank's target range and reinforcing expectations that the regulator will extend its interest rate-cut hiatus. Annual inflation in the world's largest copper producer hit 4.4% last month, INE said, increasing from 4% in the previous month.
U.S. Treasury yields were flat to lower in early trading on Wednesday as markets awaited an auction of 10-year notes and the release of minutes from last month's central bank meeting.
The world economy has proven more resilient than expected despite acute strains from multiple shocks, the head of the International Monetary Fund said on Wednesday, forecasting only a slight slowing of global growth this year and in 2026.
* IMF forecasts slight slowdown in global growth in 2025, 2026. * Georgieva notes high uncertainty, rising demand for gold. * IMF urges countries to take steps to boost growth, address excessive imbalances.
Russia's central bank has ruled the state violated the rights of minority shareholders in some asset seizures it made in relation to its conflict in Ukraine, sources told Reuters, in a first pushback by the Russian elite on the nationalisation process.
Wall Street's main indexes opened higher on Wednesday following a blip in a steady rally, as investors awaited fresh clues from Federal Reserve officials on the interest-rate trajectory.
US equity futures were flat ahead of Wednesday's opening bell as traders awaited minutes from the Federal Reserve's most recent policy-setting meeting. Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher. The Federal Open Market Committee is scheduled to release the minutes from its latest meeting at 2 pm ET.
By Jamie McGeever. The amount of U.S. Treasuries held at the New York Fed on behalf of global central banks has slumped to its lowest in over a decade, casting renewed doubt on foreign appetite for U.S. sovereign debt and other dollar-denominated assets. This may seem a little surprising. These two data sets are the gold standard measurements for U.S. capital flows and global FX reserves.
New ETF delivers access to short-duration investment-grade municipal bonds near call dates, offering federally tax-exempt income with lower duration risk. F/m Investments, an $18 billion investment firm and an innovative provider of exchange-traded funds, today announced the launch of the F/m Ultrashort Tax-Free Municipal ETF.
Loop said on Wednesday its earplugs will be available in over 600 Target (TGT) stores starting this month, marking the Belgian startup's entry in traditional brick-and-mortar retail in the United States. Designed to look like fashion accessories, Loop's earplugs claim to reduce ambient noise while maintaining sound quality, making them popular at music festivals like Coachella and Tomorrowland.
Launch of State Street? SPDR? Portfolio Ultra Short T-Bill ETF Provides Investors with Low-Cost Access to Treasurys that Mature in a Year or Less State Street Investment Management today announced the expansion of its low-cost State Street? SPDR? Portfolio ETF Suite with the launch of the State Street SPDR Portfolio Ultra Short T-Bill ETF.
US equity futures were little changed pre-bell Wednesday as traders awaited minutes from the Federal Reserve's most recent policy-setting meeting. Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.2% higher. The Federal Open Market Committee is scheduled to release the minutes from its latest meeting at 2 pm ET.
Representatives from the Federal Home Loan Bank of Chicago, Bay Bank, developer Pete King and 1822 Land & Development Company of Oneida, LLC joined local dignitaries on October 7 at the grand opening of Red Willow Flats, a new affordable housing development on tribal trust land in Oneida, Wis. This press release features multimedia.
Chicago, Los Angeles and Portland will face economic costs from the Trump administration's showy deployments of National Guard troops and immigration agents.
Rezolve Ai (RZLV), the category-defining platform at the intersection of AI, commerce, and payments, today unveiled its framework for what it believes will be the next era of intelligent trade, the Age of Agentic Commerce, where autonomous AI systems will search, negotiate, and transact on behalf of people and enterprises in real time.
The US dollar rose against its major trading partners early Wednesday, except for a decline versus the Canadian dollar, ahead of the release of weekly oil stocks inventory data at 10:30 am ET and the minutes of the Sept. 16-17 Federal Open Market Committee meeting at 2:00 pm ET.
Wall Street futures pointed modestly higher pre-bell Wednesday, as traders awaited minutes of the Federal Reserve's Sept. 16-17 policy session, slated for release in Washington at 2 pm ET. In the futures, the S&P 500, the Nasdaq, and the Dow Jones pointed up about 0.2% from Tuesday closes.
* Dollar rises against euro, yen on political developments. * Analysts question pricing of Fed easing path ahead of minutes. * Yen drops over 3.5% in three sessions amid policy speculation. * Strategists flag concerns over Fed independence. By Stefano Rebaudo.
* Gold topples $4,000 mark, shows no sign of stopping. * Political turmoil in France in spotlight, dents euro. * Yen at lowest since February; intervention risk rises. By Amanda Cooper.
The worst performing G10 currency overnight Tuesday was the New Zealand dollar, which has weakened by around 1.0% against the US dollar, said MUFG. The sell-off for the kiwi since the summer has been reinforced overnight by the Reserve Bank of New Zealand's decision to deliver a larger 50bps rate cut, stated MUFG.
North American Construction Group (NOA) overnight Tuesday said it entered into an underwriting agreement to sell an additional $125 million of its 7.75% senior unsecured notes due May 1, 2030, representing an additional issuance to the $225 million of 7.75% senior unsecured notes issued May 1. The company expects $350 million of initial notes and notes outstanding following the closing of the offering.
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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