Alberta presented its 2025 Budget Update, and while it concedes that momentum is slowing, real gross domestic product in the province is now expected to rise by 2.1% this year, which is an improvement from Q1 and Budget expectations, said National Bank of Canada. The 2026 growth is seen moderating further to 1.8%, the bank noted in a Thursday release.
European bourses tracked marginally higher midday Friday as traders joined the global breather on AI-sector and interest-rate related gyrations. Oil stocks led gains on largely muted continental trading floors. Investors also eyed Wall Street futures modestly in the green, and mixed closes overnight on Asian exchanges.
While Canada's current account deficit was smaller than expected in Q3, the fact is that it is still in the red, said Bank of Montreal. What's different this cycle from 15-20 years ago is that the roles have reversed between trade in goods and the balance in services and income, noted the bank. This was usually countered by large deficits in all other areas, pointed out BMO.
Asian stock markets churned on Friday, as traders looked for fresh cues from New York trading floors and awaited the next rate moves slated for December by the US Federal Reserve and the Bank of Japan. Shanghai and Tokyo finished modestly in the green, while Shanghai edged lower.
JP Morgan and Goldman Sachs have realigned their interest rate outlooks, now forecasting that the Federal Reserve will deliver a quarter-point cut after its Dec. 9-10 meeting. JP Morgan, reversing its earlier prediction of a pause until January, cited recent comments from central bank officials as the primary driver for the shift.
Tether just got slapped with the lowest possible stability score from S&P Global ? and in the same breath, it's quietly buying more gold than sovereign nations. In its Nov. 26 assessment, S&P moved USDT from 4 to 5, warning that Tether's reserve composition has shifted meaningfully toward riskier components including Bitcoin, Gold, Secured loans and Corporate credit.
Canada's current account deficit improved to $9.7 billion, or $38.7 billion a.r., in Q3, following the record shortfall of $21.6 billion in Q2, said Bank of Montreal. That's estimated to account for 1.2% of gross domestic product -- with the latter figure to be released on Friday -- and roughly in line with the average over the past year, noted the bank.
Equities roared higher again heading into Thursday's United States Thanksgiving, fueled by Federal Reserve rate cut prospects and leaving recent concerns around valuations in the dust, said Bank of Montreal. Canada wasn't left out, as the TSX punched above the 31,000 level for the first time and is up more than 20% from year-ago levels, and more than 50% in the past two years, noted the bank.
The Reserve Bank of New Zealand cut the cash rate by 25bps to 2.25% this week, as widely expected, said UBS. However, its explicit easing bias has been removed, and Governor Christian Hawkesby, at his last press conference, signaled that a hike would become more likely after mid-2026. December 2025 for a five-year term.
Canada's current account deficit on a seasonally adjusted basis narrowed by $11.9 billion to $9.7 billion in Q3, said the country's statistical agency on Thursday. The Q3 deficit was much lower than the $15.1 billion consensus deficit provided by MUFG.
In November, the European Commission's economic sentiment indicator climbed to 97 from 96.8 in October, said ING after Thursday's data. However, industrial confidence dipped, mainly due to dwindling orders -- especially from exports. At the same time, inventory assessments dropped to their lowest point since May, which could pave the way for increased production early next year, pointed out ING.
Dream Industrial Real Estate Investment Trust, trading near 52 week highs, overnight Wednesday announced receipt of its issuer rating and senior unsecured debentures credit rating upgrade to BBB with Stable trends, from BBB, assigned by Morningstar DBRS.
The United Kingdom Finance Minister Rachel Reeves made her "hotly" anticipated annual budget announcement on Wednesday, said ABN Amro. In it, she laid out a host of revenue-raising measures that kick in largely later in the budgeting horizon. Where Reeves did surprise -- and positively -- was in the amount of estimated headroom she has built up against her fiscal rules, stated ABN Amro.
Societe Generale in its early Thursday economic news summary pointed out: -- US dollar drifts lower in Asia, DXY closed below 200dma on Wednesday, 10-year United States Treasury below 4.0%. 7Seven-year UST auction tailed 0.6bp, non-dealer bidding 86.9%. Sterling extends post-budget gains on bull flattening in 2s/10s and 10s/30s Gilts; 10-year steady at 4.42% after 7bps slide, Bank of England De...
US equity indexes rose for the fourth straight day on Wednesday, albeit amid thin volumes, as weakness in economic data continued to support elevated expectations for a December interest-rate cut.
Major equity indexes rose on Wednesday, marking the fourth consecutive day of gains on Wall Street as the technology sector advanced, with the Federal Reserve likely to cut rates in December.
Commercial Metals (CMC) said late Wednesday it closed an offering of $1 billion of 5.75% senior notes due Nov. 15, 2033, and $1 billion of 6% senior notes due Dec. 15, 2035. The company said it plans to use the net proceeds from the offering to fund its acquisition of Foley Products and for general corporate purposes. MT Newswires does not provide investment advice.
US equity indexes closed higher Wednesday amid broad market gains ahead of the Thanksgiving holiday, as expectations for a Federal Reserve interest rate cut in December remained strong.
Financial stocks were advancing in late Wednesday afternoon trading, with the NYSE Financial Index adding 1.2% and the Financial Select Sector SPDR Fund rising 1.1%. The Philadelphia Housing Index was climbing 1.7%, and the Real Estate Select Sector SPDR Fund was up 0.9%. Bitcoin was increasing 3.1% to $90,049, and the yield for 10-year US Treasuries was slightly lower at 4%. In economic news, ...
Most Federal Reserve districts saw "little" change in economic activity since mid-October as overall employment fell slightly, the US central bank said in its latest Beige Book released Wednesday. Out of the 12 Fed districts, two reported a modest drop in economic activity, while one saw growth, according to the document, prepared by the Dallas Fed based on data collected by Nov. 17.
Financial stocks were advancing in late Wednesday afternoon trading, with the NYSE Financial Index adding 1.2% and the Financial Select Sector SPDR Fund rising 1.1%. The Philadelphia Housing Index was climbing 1.7%, and the Real Estate Select Sector SPDR Fund was up 0.9%. Bitcoin was increasing 3.1% to $90,049, and the yield for 10-year US Treasuries was slightly lower at 4%. In corporate news,...
Durable goods new orders rose by 0.5% in September, while shipments increased by 0.1%. Excluding transportation, new orders and shipments were both up 0.6%, suggesting underlying strength. Initial jobless claims decreased by 6,000 to 216,000 in the week ended Nov. 22, lowering the four-week moving average by 1,000 to 223,750, a second straight decrease.
The US economy was "little changed" since mid-October's Beige Book report, the Federal Reserve's most recent update released Wednesday showed. "Economic activity was little changed since the previous report, according to most of the twelve Federal Reserve Districts, though two Districts noted a modest decline and one reported modest growth," according to the summary.
Bond issuers in the water sector are concerned about a reduction in WIFIA loan closings as some point to competition from municipal bonds as a cause for a decline in their popularity.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index adding 1.1% and the Financial Select Sector SPDR Fund rising 1%. The Philadelphia Housing Index was climbing 1.3%, and the Real Estate Select Sector SPDR Fund was up 0.7%. Bitcoin was increasing 2.7% to $90,050, and the yield for 10-year US Treasuries was slightly higher at 4.0%. In economic news, the ...
Weekly applications for unemployment insurance dropped, while continuing claims moved higher, US government data showed Wednesday. For the week through Nov. 22, the seasonally adjusted number of initial claims decreased by 6,000 to 216,000, the Department of Labor said. The four-week moving average totaled 223,750, dropping by 1,000 from the prior week's average, which was revised upward by 500.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising 1%. The Philadelphia Housing Index was climbing 1.4%, and the Real Estate Select Sector SPDR Fund was up 0.8%. Bitcoin was increasing 2.7% to $89,698, and the yield for 10-year US Treasuries was slightly higher at 4.01%. In corporate news, Miami Int...
The European stock markets closed higher in Wednesday trading as the Stoxx Europe gained 1.06%, Germany's DAX rose 0.98%, the FTSE 100 advanced 0.85%, France's CAC was up 0.88%, and the Swiss Market Index increased 0.40%. The European Central Bank reported in its Financial Stability Review for November that uncertainties around trade agreements," as well as the economic and financial effects of...
Ghana's central bank Wednesday said its Monetary Policy Committee voted to lower the Monetary Policy Rate by 350 basis points to 18.0%. "Given the anticipated significant decline in inflation by the end of the year, the tight monetary policy stance, the. significant build-up of reserves which is providing anchor for exchange rate stability, the Bank projects a continued stable inflation profile...
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.23%. ?Heading into the Thanksgiving holiday, mortgage rates decreased,? said Sam Khater, Freddie Mac?s Chief Economist.
A couple of weak economic reports on Tuesday have helped convince markets that the Federal Reserve will cut rates in December, but strong data over the next two weeks could still pull policymakers back into the no-cut camp, Macquarie said in a note on Wednesday. The Census Bureau reported Tuesday a rise in retail sales rose that was less than analysts expected in September.
CIBC Capital Markets Tuesday lowered Vizsla Silver's price target to C$10.25 from $11.00 with an outperformer rating. CIBC said the company is now off research restriction after it closed an offering of 5% convertible senior unsecured notes due 2031 for an aggregate principal amount of US$300 million.
The Magnum Ice Cream Company, the world?s largest ice cream company, today announced the successful completion of a ?3 billion debut bond issuance by Magnum ICC Finance B.V., across four tranches.
Rosenberg Research has been downbeat on the Canadian economy and Canadian dollar for a long time, but some of the dark clouds are starting to brighten. Rosenberg Research still sees weak growth for the first half of 2026, as uncertainty and adjustments are continuing, and the Bank of Canada easing cycle will take a bit more time to flow through to economic stimulus.
Webull Corp (BULL) shares are trading higher Wednesday morning as investors continue to weigh the online brokerage's strong third-quarter results amid growing expectations for a Federal Reserve rate cut in December. What To Know: Webull (BULL) reported revenue of $156.9 million, up 55% year over year and ahead of $135.6 million in forecasts.
Demand for US durable goods waned in September, weighed down by weakness in the civilian aircraft segment, delayed official data showed Wednesday. Orders for tangible items with an average life of at least three years edged 0.5% higher sequentially to about $313.65 billion two months ago, the Census Bureau said. The latest jump, however, matched the consensus in a poll compiled by Bloomberg.
Saskatchewan released its mid-year economic and fiscal update on Tuesday, with a projected FY26 budget deficit of $427 million, or 0.4% of gross domestic product, compared with a $12 million surplus in the budget, said Scotiabank. No new policy measures were announced. Projected spending is up $521 million compared with the budget forecast.
Doman Building Materials Group (CWXZF) entered Wednesday into an underwriting agreement with a syndicate of underwriters to sell an additional $170 million aggregate principal amount of its 7.50% Senior Unsecured Notes due September 17, 2029. In a statement DBM said the net proceeds from the issuance will be approximately $167 million.
US initial jobless claims fell to a level of 216,000 in the week ended Nov. 22 from an upwardly revised 222,000 level in the previous week, in contrast with expectations for an increase to 225,000 in survey of analysts compiled by Bloomberg as of 7:40 am ET. The four-week moving average decreased by 1,000 to 223,750 after falling by 2,500 to a level of 224,750 in the previous week.
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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