Fed Vice Chair Philip Jefferson said that the FOMC should move cautiously as it lower the federal funds rate closer to neutral, focusing on incoming information to determine the pace meeting-by-meeting, and suggested that the current policy rate is "still somewhat restrictive."
US benchmark equity indexes were lower intraday amid continued weakness in technology shares, while a survey showed that consumer sentiment fell to the lowest level since 2022. The Nasdaq Composite was down 1.4% at 22,722.3 after midday Friday, while the S&P 500 fell 0.8% to 6,663.1. The Dow Jones Industrial Average lost 0.5% to 46,688.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of the key life/health insurance and annuity operating subsidiaries of Wilton Re Ltd., collectively referred to as Wilton Re.
Argentina's industrial output fell 0.7% in September compared to the same month last year in non-seasonally adjusted terms, data from national statistics agency INDEC showed on Friday. September industrial output in South America's second-largest economy decreased 0.1% compared to August in seasonally adjusted terms, according to the INDEC data.
Financial stocks were mixed in Friday afternoon trading, with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund adding 0.1%. The Philadelphia Housing Index was shedding 0.5%, and the Real Estate Select Sector SPDR Fund rose 0.4%. Bitcoin was increasing 0.8% to $102,581, and the yield for 10-year US Treasuries was decreasing 1.6 basis points to 4.08%. The University ...
Financial stocks were mixed in Friday afternoon trading, with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund adding 0.1%. The Philadelphia Housing Index was shedding 0.5%, and the Real Estate Select Sector SPDR Fund rose 0.4%. Bitcoin was increasing 1.1% to $102,713, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.07%. In corporate news...
The industry for years has lobbied Congress and the Treasury Department to make the changes, but the issue has taken on more urgency amid a data center boom that promises to transform the U.S. energy landscape
* * Sentiment shifting for AI rally. * Wall Street stocks sharply lower. By Caroline Valetkevitch. Major stock indexes extended sharp declines on Friday, with the Nasdaq on track for its biggest weekly percentage decline since March as investors worried about the sustainability of a rally in artificial intelligence shares, while U.S. Treasury yields edged lower again.
US consumer sentiment fell to the weakest level in more than three years amid concerns about the government shutdown's impact on the economy, preliminary results from a University of Michigan survey showed Friday. The main sentiment index dropped for a fourth consecutive month, to 50.3 in November from 53.6 in October.
Regulatory News: WINAMP GROUP SA, owner of the Winamp platform, announces that the Luxembourg-based fund Hexagon Capital Fund has proceeded, on 6 November 2025, with a second subscription of 250 bonds issued by Winamp Group SA, each with a nominal value of ?1,000, representing a total amount of ?250,000.
Michael S. Eisenga, Chief Executive Officer of?First American Properties, today issued a statement in response to the latest University of Michigan Consumer Sentiment Index and layoff data from Challenger, Grey & Christmas, which together point to a clear slowdown in economic activity and rising financial pressure across American households.
Borrowing costs in the euro area nudged up on Friday and German bond yields hovered around one-month highs with traders confident that the European Central Bank is likely done with its easing cycle. In earlier trade, both 10 and 30-year German bond yields rose 3-4 bps to their highest since October 10, to around 2.68% and 3.28% respectively.
Canadian National Railway (CNI) on Friday said it is raising US$700 million in a public debt offering. The company said the offering is made up of US$300 million of 4.200% Notes due 2031 and US$400 million of 4.750% Notes due 2035.
Federal Reserve Vice Chair Philip Jefferson said that as interest rates have moved toward a more neutral level, "it makes sense" now to proceed with caution.
Several fast-casual chains recently cited poor sales to younger adult consumers, a key cohort for the industry, in an apparent confirmation of the labor market concerns the Federal Reserve has cited as it started cutting interest rates.
Consumer expectations for one-year US inflation growth slowed to a 3.2% gain in October from a 3.4% gain in the previous month, according to a survey released by the New York Federal Reserve Bank on Friday. The median inflation expectations remained at a 3.0% gain for the three-year period for the sixth straight month and remained at a 3.0% gain for five years ahead.
KBRA releases the October 2025 issue of CMBS Trend Watch. As we approach year-end, commercial mortgage-backed securities private label issuance is on track to have its strongest year since 2007. In October, KBRA published pre-sales for seven deals, including four SB, two conduits, and one Agency.
AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of ?aa+? of General Reinsurance Corporation and its core property/casualty and lifeinsurance subsidiaries operating in the United States and internationally.
The average American is growing more pessimistic about the economy, as a key sentiment index fell to its lowest level since June 2022, marking one of the bleakest readings since the survey?s inception in 1952.
Americans last month said that they expected moderating near-term inflation pressures as they continued to worry about the outlook for the job market and their personal finances, a report from the Federal Reserve Bank of New York said on Friday.
* Investors cautious amid lack of fresh economic data. * University of Michigan survey shows consumer sentiment decline. * Potential Supreme Court decision could impact Treasury issuance. By Davide Barbuscia. U.S. Treasury yields were little changed on Friday as investors locked in profits from the previous day's bond rally and looked ahead to a busy week of government debt auctions.
* NY Fed October survey finds lower near-term expected inflation. * NY Fed report says consumers more concerned about current and future finances. * NY Fed report finds concerns about job market. By Michael S. Derby.
U.S. consumer sentiment slumped to near a 3-1/2-year low in early November as households across the political spectrum worried about the economic fallout from the longest government shutdown in history, which has caused disruptions ranging from food benefit payments to grounded flights.
* Dollar lower after soft jobs data. * Markets overreacting to labor market hints, Jefferies says. * Weak Chinese trade data may spell trouble for the euro zone. * Yen still seen as the leading defensive hedge. By Hannah Lang and Stefano Rebaudo.
The University of Michigan's preliminary consumer sentiment index fell to 50.3 in November from 53.6 in October, below expectations for a smaller decrease to 53.0 in a survey compiled by Bloomberg as of 7:30 am ET.
AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of ?bb+? of Soci?t? Nationale d'Assurance. The ratings reflect SAA?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and marginal enterprise risk management.
Canada's labour market surprised to the upside in October, creating 67,000 jobs and offering "finally some good news on the Canadian economy," Desjardins economist Royce Mendes said, though he added the strength likely keeps the Bank of Canada on hold next month rather than cutting again.
Exploring the potential uses of artificial intelligence, Bundesbank President Joachim Nagel is now using the technology to check how his speeches will be perceived and whether he found the right balance on the dovish-hawkish spectrum, he said on Friday.
Exploring the potential uses of artificial intelligence, Bundesbank President Joachim Nagel is now using the technology to check how his speeches will be perceived and whether he found the right balance on the dovish-hawkish spectrum, he said on Friday.
Wall Street's main indexes opened lower on Friday, and were set for sharp weekly declines, as concerns about the economy and towering valuations in the technology sector soured sentiment.
Funds from Federal Home Loan Bank of Atlanta Support Several Southeast Communities Ameris Bank, a member of Federal Home Loan Bank of Atlanta, is distributing three $1,250,000 grants to organizations in Georgia and Florida to support the construction of more than 170 affordable rental units.
Overall, said Andrew Grantham over at CIBC, Friday's jobs data is supportive of the Bank of Canada's thinking that interest rates are now low enough to stimulate the economy, and CIBC continues to forecast no more rate cuts from here.
Canada's job market made a surprise gain in October, reversing past declines, and its unemployment rate fell, data showed on Friday, a bright spot in a country that has suffered from U.S. President Donald Trump's tariffs. The economy added a net 66,600 jobs following 60,400 job gains in September, Statistics Canada said, helping offset most of the job losses recorded in July and August.
Employment increased by 67,000 in October, the second consecutive monthly increase, and the employment rate rose 0.2 percentage points to 60.8%, Statistics Canada said Friday. BMO Economics, for example, was looking for a 10k increase in October, building on September's 60k rise that clawed back some of the 106k net losses in the prior two months. MT Newswires does not provide investment advice.
* * Unemployment rate falls to 6.9% from 7.1% in September. * Average hourly wage of permanent employees increased by 4.0% * Youth unemployment rate drops from a 15-year high level. By Promit Mukherjee.
The California Debt and Investment Advisory Commission explored public finance solutions to child sexual abuse claims this week at an event in San Diego.
Deputy Governor Rhys Mendes recently admitted the Bank of Canada may have misled markets by overemphasizing CPI-median and CPI-trim as "preferred" core inflation measures, said National Bank of Canada. The BoC has shown a lack of consistency in its use of core indicators over the past five years, noted the bank.
Canada updates job market conditions with the Labour Force Survey for October at 8:30 a.m. ET on Friday, said Scotiabank. Friday's figures are one of two sets of readings before the next Bank of Canada decision on Dec. 10, which dampens some of its significance to markets, stated Scotiabank.
The US dollar was mixed against its major trading partners early Friday -- up versus the pound and yen, down versus the euro and Canadian dollar -- ahead of the release of the preliminary University of Michigan consumer sentiment reading for November at 10:00 am ET and the New York Federal Reserve inflation expectations survey for October at 11:00 pm ET.
* Dollar kicked off five-day winning streak after Fed signals last week. * Markets overreacting to labour market hints, Jefferies says. * Weak Chinese trade data may spell trouble for the euro zone. * Yen still seen as the leading defensive hedge. By Stefano Rebaudo.
The Federal Reserve should "proceed slowly" in approving further interest rate cuts as monetary policy moves closer to a neutral stance, Fed Vice Chair Philip Jefferson said on Friday.
Borrowing costs in the euro area nudged up on Friday and benchmark 10-year German Bund yields hovered at one-month highs with traders confident that the European Central Bank is likely done with its easing cycle. Germany's 10-year yield rose to around 2.68%, its highest since October 10.
Commerzbank in its "European Sunrise" note of Friday highlighted: Markets: United States Treasuries soften in late New York session, continue to trend lower in Asia. Fed: New York Federal Reserve President John Williams thinks the low r*-era is still here, but the natural rate is hard to pin down.
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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