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AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of AzRe Reinsurance, OJSC. The ratings reflect AzRe?s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and marginal enterprise risk management.

Bristol Myers Squibb (BMY) today announced that it has priced a public offering of senior unsecured notes in a combined aggregate principal amount of ?5 billion. On November 3, 2025, Bristol Myers Squibb (BMY) commenced a tender offer to purchase, for cash, various series of its outstanding notes.

City and state law mean it's unlikely that Mamdani will be able to enact the parts of his agenda that would have major impacts on the city's credit.?

Fed Governor Stephen Miran said in an interview with Yahoo Finance that he believes it would be appropriate for the FOMC to continue lowering interest rates at its December meeting despite the lack of government data releases, indicating that he would like to get the policy rate closer to neutral quickly.

An uncertain financial future partially due to federal government downsizing is compounding with nearly $6 billion of unfunded capital needs that will require Washington D.C. to lean on asset management and its strong credit rating to overcome the challenges.

The ruling comes as the municipal bond market closely watches the administration's effort to control federal infrastructure spending.

Financial stocks advanced in Wednesday afternoon trading with the NYSE Financial Index rising 0.7% and the Financial Select Sector SPDR Fund adding 0.5%. The Philadelphia Housing Index fell 0.5%, and the Real Estate Select Sector SPDR Fund edged up 0.1%. Bitcoin rose 2.4% to $103,934, and the yield for 10-year US Treasuries gained 6 basis points to 4.15%. In corporate news, Lemonade shares surg...

The federal budget bill lowered the percentage of private-activity bonds needed for affordable housing projects to qualify for 4% tax credits, but it hasn't been the boon expected.

The US services sector returned to expansion in October, the Institute for Supply Management said Wednesday, while a survey by S&P Global (SPGI) indicated faster growth sequentially amid demand strength. The ISM's purchasing managers' index rose to 52.4 last month from 50 in September.

The Swiss National Bank expects inflation to remain in the desired range with current interest rates, governing board member Petra Tschudin said on Thursday, echoing statements from earlier in the week.

-Federal Reserve Governor Stephen Miran reiterated on Wednesday that he believes the current level of short-term rates is too restrictive and is creating risks for the U.S. economy. "I think policy is too restrictive and that we're too far above where neutral rates would be," Miran said in an interview on Yahoo Finance's website.

Freddie Mac today posted its 2026 funding calendar, which provides optional announcement dates for Reference Notes? securities and announcement dates for Reference Bills? securities.

The European stock markets closed higher in Wednesday trading as the Stoxx Europe rose 0.25%, Germany's DAX gained 0.42%, the FTSE 100 in London advanced 0.64%, France's CAC edged 0.08% higher, and the Swiss Market Index was up 0.46%. The euro area economy saw its strongest expansion in October since May 2023, as the seasonally adjusted HCOB Eurozone Composite PMI Output Index rose to 52.5 from...

The lawyer representing Donald Trump's administration faced tough questions from conservative and liberal U.S. Supreme Court justices on Wednesday over the legality of the Republican president's sweeping tariffs in a case with implications for the global economy that marks a major test of Trump's powers.

Federal Reserve Governor Stephen Miran reiterated on Wednesday that he believes the current level of short-term rates is too restrictive and is creating risks for the U.S. economy. "I think policy is too restrictive and that we're too far above where neutral rates would be," Miran said in an interview on Yahoo Finance's website.

Poland's central bank said Wednesday its Monetary Policy Council decided to reduce interest rates by 25bps, as expected: -- reference rate at 4.25% on an annual basis; -- lombard rate at 4.75% on an annual basis; -- deposit rate at 3.75% on an annual basis; -- rediscount rate at 4.30% on an annual basis; -- discount rate 4.35% on an annual basis. MT Newswires does not provide investment advice.

* SPIRIT AIRLINES CUTS 150 SALARIED JOBS IN BANKRUPTCY EXIT PUSH - BLOOMBERG NEWS Source text: https://tinyurl.com/2ckqed2w.

Bank of America's (BAC) wealth business is targeting 4% to 5% net new asset growth in the medium term, executives said on Wednesday. "We have the scale and we have the infrastructure to be outpacing the industry in terms of growth," Eric Schimpf, co-president of Merrill Wealth Management, said at BofA's investor day.

The Council of Federal Home Loan Banks today submitted comments to the Federal Housing Finance Agency on its draft Strategic Plan: Fiscal Years 2026?2030, expressing support for the agency?s continued efforts under Director Bill Pulte?s leadership to modernize oversight and reduce unnecessary regulatory burdens on the Federal Home Loan Banks.

-Overall U.S. household debt levels increased modestly in the third quarter as borrowing in some form of trouble stabilized and student loan woes increased, the New York Federal Reserve said on Wednesday. As part of its latest report on borrowing in the economy, the regional Fed bank said overall borrowing for the third quarter rose 1%, or $197 billion, from the second quarter, to $18.6 trillion.

* Household debt rises 1% to $18.6 trillion in third quarter, NY Fed says. * Student loans see largest increase in serious delinquency. * Economic conditions may impact future delinquency rates, regional Fed bank warns. By Michael S. Derby.

* Economic data erodes confidence in Fed rate cuts. * Treasury considers future increases in coupon debt issues. * U.S. Supreme Court hears arguments on Trump's tariffs. By Davide Barbuscia.

KBRA assigns an A+ long-term rating to the City of Chicago, Illinois Chicago O'Hare International Airport Senior Lien Revenue Bonds Series 2025E, Series 2025F, and Series 2025G.

In the Americas, technology names led shorting activity, with Palo Alto Networks, IBM, and Super Micro Computer among the most crowded positions as investors reassessed high-valuation AI and cybersecurity plays Global equity markets showed notable divergence in October, shaped by renewed U.S.?China trade tensions, a U.S. government shutdown and diverging central bank policies.

U.S. Supreme Court justices raised doubts on Wednesday over the legality of President Donald Trump's sweeping tariffs in a case with implications for the global economy that marks a major test of Trump's powers.

The Institute for Supply Management's US services index rose to a reading of 52.4 in October from 50.0 in September, compared with expectations for a smaller increase to a reading of 50.8 in a survey compiled by Bloomberg as of 7:35 am ET.

U.S. services sector activity picked up in October amid a solid increase in new orders, but subdued employment pointed to lackluster labor market conditions against the backdrop of economic uncertainty stemming from tariffs on imports. The Institute for Supply Management said its nonmanufacturing purchasing managers index rose to 52.4 last month from 50.0 in September.

Ramaco Resources (METCB) said Wednesday it has priced a public offering of $300 million of 0% convertible senior notes due 2031. Issuance and sale of the notes are expected to settle on Friday, the company said. Underwriters of the notes were given an option to buy up to an additional $45 million of notes to cover over-allotments, Ramaco said.

* Nonmanufacturing PMI increases to 52.4 in October. * New orders received by services businesses surge. * Services employment remains weak; prices paid for inputs rise moderately. By Lucia Mutikani.

Business Activity Index at 54.3%; New Orders Index at 56.2%; Employment Index at 48.2%; Supplier Deliveries Index at 50.8% TEMPE, Ariz.

Last week's gross domestic product report in Canada showed a "nasty" 0.3% month-over-month drop in August, and yet growth will still manage to eke out a "tiny" gain for all of Q3, said Bank of Montreal. In the first eight months of the year, the economy has. managed to grow by 1.3% from the same period a year ago, noted the bank. That 1.3% growth pace is below average and is "meek," stated BMO.

AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of HDFC International Life and Re Company Limited, a subsidiary of HDFC Life Insurance Company Limited, which in turn is majority held by HDFC Bank Limited.

Canada's services economy expanded in October for the first time in 11 months as businesses showed signs of adjusting to economic uncertainty, S&P Global's Canada services PMI data showed on Wednesday. The headline Business Activity Index rose to 50.5 last month from 46.3 in September, posting its first move above the 50 threshold since November last year.

Canada's services economy expanded in October for the first time in 11 months as businesses showed signs of adjusting to economic uncertainty, S&P Global's Canada services PMI data showed on Wednesday. The headline Business Activity Index rose to 50.5 last month from 46.3 in September, posting its first move above the 50 threshold since November last year.

Municipal market professionals aren't confident that state and local governments will invest in resilient infrastructure over the next five years.

NEW YORK, Nov. 5, 2025 For the third consecutive year, Emigrant Bank is pleased to award small business grants to locally owned businesses and nonprofit organizations in the New York metropolitan area. The grants, benefitting low- to moderate- income communities, are made possible through the Federal Home Loan Bank of New York's Small Business Recovery Grant Program.

SEATTLE, Nov. 5, 2025 CD Valet?is a digital marketplace that connects consumers with the best CD rates and terms nationwide, helping community financial institutions effectively attract new deposits. "As expected after the recent Fed rate cuts, CD yields in general continue to ease.

Today, the Federal Home Loan Bank of Indianapolis announced that it has facilitated over $26 million in loans to community development financial institutions across Indiana and Michigan. CDFIs are mission-driven lenders that provide credit and financial services to communities traditionally underserved by mainstream financial institutions, including rural, urban and Native American communities.

The world should watch out for three possible bubbles in financial markets, including artificial intelligence, the head of the World Economic Forum said on Wednesday, in comments that came amid sharp falls in global technology stocks. Brokers and analysts say the falls are a cause for caution but not panic as markets have been touching record highs and some valuations are looking overblown.

* Nonmanufacturing PMI increases to 52.4 in October. * New orders received by services businesses surge. * Services employment remains weak; prices paid for inputs rise. By Lucia Mutikani.