Federal Reserve officials on Monday continued pressing competing views of where the economy stands and the risks facing it, a debate set to intensify ahead of the U.S. central bank's next policy meeting and in the absence of data suspended due to the federal government shutdown.
Fed Governor Lisa Cook said that the path of monetary policy is not predetermined and will continue to be based on incoming information when it is available, noting the risks of lowering interest rates too early or too late, and saying that the December FOMC meeting remains a live meeting after other officials have said that another rate cut at that meeting is not an certainty.
* Canadian dollar falls 0.3% against the greenback. * Touches its weakest since October 14 at 1.4075. * Manufacturing PMI rises to 49.6 in October. * 10-year yield rises 3.1 basis points to 3.152% By Fergal Smith.
-U.S. Federal Reserve Governor Lisa Cook, in her first public appearance since President Donald Trump moved to fire her, said it took a "thick skin" to pursue public service in the U.S. and pledged to fulfill the mandate given through her Senate confirmation to defend the central bank's inflation and employment targets.
* Indexes: Dow down 0.42%, S&P 500 up 0.24%, Nasdaq up 0.57% * Kimberly-Clark (KMB) to acquire Kenvue (KVUE) for more than $40 billion. * US manufacturing activity contracts in October. * Fed officials offer conflicting viewpoints regarding a December rate cut. By Stephen Culp.
Federal Reserve Governor Lisa Cook on Monday said "it is the honor of my life" to work at the central bank amid attempts by the Trump administration to fire her. Cook's comments came after a speech on the economy, and she said of the legal attempt to remove her that "because the case is ongoing, it would be inappropriate for me to comment further today."
The path of monetary policy is not predetermined and will continue to be based on incoming information, Federal Reserve Governor Lisa Cook said Monday at Brookings. "Looking ahead, policy is not on a predetermined path," Cook said.
The internal watchdog for the U.S. Federal Housing Finance Agency is being removed from his role, four people familiar with the matter said, at a time when the housing regulator is playing a role in President Donald Trump's targeting of perceived political enemies.
Financial stocks fell in Monday afternoon trading, with the NYSE Financial Index dropping 0.2% and the Financial Select Sector SPDR Fund losing 0.4%. The Philadelphia Housing Index declined 1.7%, and the Real Estate Select Sector SPDR Fund shed 0.6%. Bitcoin fell 2.9% to $107,366, and the yield for 10-year US Treasuries rose 1.1 basis points to 4.11%. In economic news, the Institute for Supply ...
U.S. Federal Reserve Governor Lisa Cook said on Monday she considers December's Fed meeting "live" for a potential rate cut but that she will make her decision based on information from a broad variety of sources between now and then, potentially in the absence of government data delayed by the federal shutdown. "We are at a moment when risks to both sides of the dual mandate are elevated.
U.S. Federal Reserve Governor Lisa Cook said on Monday she considers December's Fed meeting "live" for a potential rate cut but that she will make her decision based on information from a broad variety of sources between now and then, potentially in the absence of government data delayed by the federal shutdown. "We are at a moment when risks to both sides of the dual mandate are elevated.
Bitcoin wanted to upend the financial system; Tether quietly built one of its own. Tether's latest attestation report shows $181 billion in reserves backing its tokens, giving it immense influence over global liquidity.
Liquidity shifts from the Federal Reserve could determine whether Bitcoin reverses its downtrend or enters a 2019-style correction. What Happened: Prominent analyst Kevin pointed out that during quantitative easing or balance sheet expansion, Bitcoin dominance tends to top out, paving the way for altcoin outperformance.
Financial stocks were decreasing in Monday afternoon trading, with the NYSE Financial Index down 0.3% and the Financial Select Sector SPDR Fund off 0.4%. The Philadelphia Housing Index was falling 1.7%, and the Real Estate Select Sector SPDR Fund was shedding 0.6%. Bitcoin was declining 2.9% to $107,366, and the yield for 10-year US Treasuries was rising 1.1 basis points to 4.11%. In corporate ...
As climate and cybersecurity risks intensify, Jeff Lipton argues it's time for the legal community to lead a new era of municipal disclosure ? tightening language, clarifying exposures, and ensuring investor confidence.
-San Francisco Federal Reserve President Mary Daly on Monday said she supported the U.S. central bank's interest rate cut last week, and will want to sift through incoming data to assess if another reduction in borrowing costs is warranted at the December 9-10 meeting.
San Francisco Federal Reserve President Mary Daly on Monday said she supported the U.S. central bank's interest rate cut last week, and will want to sift through incoming data to assess if another reduction in borrowing costs is warranted at the December 9-10 meeting. "Oftentimes, before a meeting of the FOMC, the views are widely different," she said.
Two surveys released Monday presented mixed trends in the US manufacturing sector for October, with Institute for Supply Management data showing continued contraction and an S&P Global (SPGI) report indicating growth for a third consecutive month. The ISM purchasing managers' index fell to 48.7 last month from 49.1 in September, marking an eighth straight month of contraction.
In October, the Canadian dollar weakened further against the US dollar in terms of. London closing rates from 1.3928 to 1.4012, said MUFG. The Bank of Canada, at its meeting last week, cut the key policy rate by 25bps to 2.25%, the ninth cut in this easing cycle that began in June 2024 with cumulative total easing now of 275bps.
* Manufacturing PMI declines to 48.7 in October. * New orders, exports and employment measures remain subdued. * Pace of increase for inputs slows, may bode well for inflation. By Lucia Mutikani.
* FTSE 100 down 0.2%, FTSE 250 falls 0.3% * Bank of England rate decision on Thursday. * BP, AstraZeneca (AZN) among others to report earnings this week. * Frasers (SDIPF), Vodafone (VOD) down after rating downgrades.
European stock markets closed little changed in Monday trading as the Stoxx Europe edged 0.07% higher, Germany's DAX was up 0.73%, the FTSE in London was off 0.16%, France's CAC declined 0.14%, and the Swiss Market Index gained 0.01%. Eurozone Manufacturing PMI compiled by S&P Global, which gauges the health of the eurozone manufacturing sector, edged higher to 50.0 in October from 49.8 in Sept...
Google owner Alphabet is tapping the U.S. dollar and euro debt markets in a multi-tranche senior unsecured notes offering. The digital media and tech giant will use the proceeds from the note sale for general corporate purposes, including the potential repayment of a portion of its outstanding debt, according to a Monday report by Moody's Ratings.
-Federal Reserve Bank of Chicago President Austan Goolsbee said on Monday he's in no hurry to cut interest rates again with inflation still too far above the central bank's 2% target. "I'm not decided going into the December meeting" and "my threshold for cutting is a little bit higher than it was at the last two meetings," Goolsbee said in a Yahoo Finance interview.
* Investors watching trade developments. * ECB rate pricing 'stuck' after US-China truce. * Traders price in about 50% chance of another rate cut in 2026. * French budget in focus after lawmakers reject tax on ultra-rich. By Stefano Rebaudo.
* Goolsbee undecided on December rate cut amid high inflation. * Fed Chair Powell warns rate cut not guaranteed in December. * Goolsbee cautious due to unclear economic data from government shutdown. By Michael S. Derby.
* Fed rate cut doubts persist amid economic uncertainty. * Government shutdown disrupts key economic data flow. * Tech companies' bond issuance may compete with government borrowing. By Davide Barbuscia.
* Dollar rise to 3-month high vs euro. * US manufacturing contracts further in October. * Focus on private data releases as shutdown drags on. * Markets alert to more jawboning from Tokyo. * Rate decisions from BoE, RBA due this week. By Saqib Iqbal Ahmed.
October's PMI survey pointed to a relative improvement in the performance of Canada's manufacturing sector, said Paul Smith, Economics Director at S&P Global Market Intelligence, on Monday.
Google owner Alphabet is tapping the U.S. dollar and euro debt markets in a multi-tranche senior unsecured notes offering. The digital media and tech giant will use the proceeds from the note sale for general corporate purposes, including the potential repayment of a portion of its outstanding debt, according to a Monday report by Moody's Ratings.
Remittances to Mexico shrunk 2.7% year-over-year in September, the nation's central bank said on Monday, totaling $5.21 billion. September marked the sixth straight month of year-on-year declines in Mexico's remittances, contrasting with sharp increases reported in other Central American countries in 2025.
Google owner Alphabet is tapping the U.S. dollar and euro debt markets in a multi-tranche senior unsecured notes offering. The digital media and tech giant will use the proceeds from the note sale for general corporate purposes, including the potential repayment of a portion of its outstanding debt, according to a Monday report by Moody's Ratings.
Federal Home Loan Bank of Atlanta today announced the recipients of its 2025 Affordable Housing Program General Fund awards. For the complete list of 2025 awards, click here.
The Institute for Supply Management's US manufacturing index fell to 48.7 in October from 49.1 in September, compared with expectations for an increase to 49.5 reading in a survey compiled by Bloomberg as of 7:35 am ET. There were gains in the readings for new orders, employment and order backlogs but declines in the readings for production and prices.
As was widely expected, the Bank of Canada delivered another quarter-point interest rate cut last week, said TD. However, yields backed up on the news as the accompanying statement showed that the BoC is comfortable with where the policy rate now stands -- shrinking the odds of further rate cuts, noted the bank.
U.S. manufacturing contracted for an eighth straight month in October as new orders remained subdued, and suppliers were taking longer to deliver materials to factories against the backdrop of tariffs on imported goods.
* Manufacturing PMI declines to 48.7 in October. * New orders, exports and employment measures remain subdued. * Pace of increase for inputs slows, may bode well for inflation. By Lucia Mutikani.
New Orders Contracting; Production Contracting; Employment Contracting; Supplier Deliveries Slowing; Raw Materials Inventories Contracting; Customers' Inventories Too Low; Prices Increasing; Exports and Imports Contracting. TEMPE, Ariz. The report was issued today by Susan Spence, MBA, Chair of the Institute for Supply Management?? Manufacturing Business Survey Committee.
* US ADP employment data due on Wednesday. * China cuts gold tax exemption for some retailers. * Gold prices fell over 8% since hitting record high. By Noel John and Pablo Sinha. Gold prices firmed on Monday, holding above $4,000 per ounce, as investors hunkered down for U.S. private payroll data due this week to assess the chances of an additional Federal Reserve interest rate cut this year.
The S&P Global Canada Manufacturing Purchasing Managers' Index, a composite index designed to provide an overview of the health of the manufacturing sector, recorded 49.6 in October, said S&P Global on Monday.
The downturn in Canada's manufacturing sector eased in October as output and new orders, which have been held back by trade uncertainty, declined at a slower pace, data showed on Monday. The S&P Global Canada Manufacturing Purchasing Managers' Index rose to 49.6 last month from 47.7 in September, posting its highest level since January.
The confident view that the Bank of Canada was done cutting rates for good had some water thrown in the face on Friday, as real gross domestic product contracted by a "hefty" 0.3% month over month in August, which came as a negative surprise to the flat performance penciled in by the consensus community, and wiped out the advance posted in July, said Rosenberg Research.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood and Hurricane Scores, according to ICE Climate Data. A $6 million offering from Polk, Iowa, records a Flood Score of 4.8 out of 5.0, ICE reports.
Morgan Stanley said it expects the Reserve Bank of Australia to hold in a unanimous decision this week. The RBA is scheduled to release its policy statement at 10:30 p.m.ET on Monday.
In a recent note, analysts at?Morgan Stanley?have highlighted two significant risks that could potentially impact the U.S. stock market in the near future. The analysts pointed out that the Federal Reserve?s cautious approach to?potential interest rate cuts and?signs of strain in overnight funding markets are the primary risks facing the equity market,?reported?Investing.com on Monday.
Brazil's central bank and National Monetary Council have established new rules for calculating the minimum capital required for financial institutions to operate, the bank said in a statement on Monday. The new framework will base minimum capital and net worth requirements primarily on the activities actually carried out by institutions, rather than their classification, the central bank said.
Bank of Canada Governor Tiff Macklem participates in a fireside chat at 1:30 p.m. ET on Monday, said Scotiabak. However, it's hard to imagine him saying anything materially different from last Wednesday's policy meeting communications, stated the bank. On the Canadian gross domestic product, Macklem is likely to say the BoC's forecasts are on track, stated Scotiabank.
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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