Financial pundits seem convinced that the new Federal Reserve chair will be an uber-dovish Donald Trump loyalist intent on slashing interest rates regardless of the economic fundamentals. Jerome Powell, whose eight-year term as Fed chair ends in May, is widely expected to be replaced by the President's top economic adviser Kevin Hassett. Hassett is undoubtedly a Trump loyalist.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood and Wildfire Scores, according to ICE Climate Data. A $6 million offering from Somers Point City School District, N.J., records a Flood Score of 4.7 out of 5.0, ICE reports.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust was 0.4% higher in Monday's premarket activity as investors hope the Federal Reserve will announce a rate cut this week.
December 9 Federal Reserve Meeting Could be Key Milestone, NECP Notes With the recent stalemate in Congress that led to a government shutdown, it is ever important for business owners to assess current economic and geopolitical influences that may impact their operations and cash flow. ?We are all aware of how quickly the supply chain could be interrupted by circumstances globally.
Investors are about to get a chance to buy bitcoin-backed municipal bonds. It won't be the last, according to the team behind the New Hampshire-based deal.
o9, a leading enterprise AI software platform provider for transforming planning and decision-making, today announced that it has joined the World Economic Forum's Associate Partner program, further expanding its collaboration with the international institution for public-private cooperation.
* 'Hawkish cut' expected for Fed. * Rates seen on hold in Australia, Canada, Switzerland and Brazil. * Aussie dollar hits 2-1/2-month high as hike swings into view. * Euro rises; ECB official says next move may even be a hike. By Tom Westbrook and Amanda Cooper.
The US dollar was mixed against its major trading partners early Monday -- up versus the pound and yen, down versus the euro and Canadian dollar -- as the focus turns to the two-day rate setting Federal Open Market Committee meeting conclusion Wednesday.
The benchmark US stock measures were tracking in the green before the opening bell Monday as investors await a major policy decision by the Federal Reserve later in the week. The S&P 500 edged up 0.1%, the Dow Jones Industrial Average was slightly in the green and the Nasdaq added 0.2% in premarket activity.
CoreWeave (CRWV) said Monday it plans a private offering of $2 billion of convertible senior notes due Dec. 1, 2031. The company intends to grant the initial purchasers an option to buy up to an additional $300 million of the notes. It will use proceeds from the offering to fund certain capped call transactions and for general corporate purposes.
Fitch: * FITCH UPGRADES OMAN TO 'BBB-'; OUTLOOK STABLE. * FITCH: UPGRADE REFLECTS SUSTAINED IMPROVEMENT IN OMAN'S PUBLIC AND EXTERNAL BALANCE SHEETS. * FITCH: UPGRADE REFLECTS FITCH'S GREATER CONFIDENCE THAT OMAN WILL MAINTAIN A PRUDENT POLICY STANCE IN A LOWER OIL PRICE ENVIRONMENT.
The combination of gold and share prices soaring in unison is a phenomenon not seen in at least half a century and raises questions of a potential bubble in both, global central bank umbrella body, the Bank for International Settlements, says.
* Central bank body BIS flags gold market concerns. * Explosive co-movement with stocks not seen for at least 50 years. * Points to 'growing fragility' of risk-on environment. By Marc Jones.
CoreWeave, Inc. (CRWV) today announced its intention to offer, subject to market and other conditions, $2 billion aggregate principal amount of its convertible senior notes due 2031 in a private offering.
European bourses were mixed midday Monday as traders awaited interest rate decisions this week from the US Federal Reserve, the Swiss National Bank, the Reserve Bank of Australia, and the Bank of Canada. Yields on benchmark German, Japanese, and US government 10-year bonds inched higher in trading. The European Central Bank and the Bank of Japan will also render rate decisions later this month.
Wall Street's main indexes closed lower on Monday, with most S&P 500 industry sectors in the red, while Treasury yields gained as investors waited nervously for the Federal Reserve monetary policy update due in two days. ???. Hopes for a December rate cut were solidified after last week's data that showed consumer spending increased moderately toward the end of the third quarter.
By Yoruk Bahceli, markets correspondent. What matters in U.S. and global markets today. The Federal Reserve meeting is fast approaching on Wednesday - and the stakes are high. I'll get into all the market news below. But first check out Mike Dolan's latest column where he discusses what is at the heart of the problem facing the Federal Reserve this week and throughout 2026.
* Futures up: Dow 0.02%, S&P 500 0.14%, Nasdaq 0.25% U.S. stock index futures edged higher on Monday, supported by expectations that the Federal Reserve will deliver a long-awaited interest rate cut later this week at a meeting widely seen as one of the most divisive in recent history.
By Yoruk Bahceli, markets correspondent. What matters in U.S. and global markets today. The Federal Reserve meeting is fast approaching on Wednesday - and the stakes are high. I'll get into all the market news below. Today's Market Minute.
Bitcoin pushed back above $92,000 during Monday?s Asia session as traders priced in a likely Federal Reserve rate cut this week; altcoins continued to lag.
Futures for Canada's main stock index were little changed on Monday as investors awaited the outcome of the Bank of Canada and the U.S Federal Reserve's policy meetings later in the week. Futures on the S&P/TSX Composite Index were flat as of 05:49 a.m. ET.
Copper prices hit record highs on Monday as a lower dollar ahead of the U.S. Federal Reserve's meeting later this week triggered a flurry of buying, while concerns about future shortages reinforced positive sentiment. Benchmark copper on the London Metal Exchange was up 0.3% at $11,657 a metric ton at 1057 GMT from an earlier peak at $11,771 a ton, a gain of more than 30% this year.
Wall Street futures pointed modestly higher pre-bell Monday as traders await the Wednesday afternoon rate decision from the Federal Reserve. There is a four-in-five chance Fed Chair Jerome Powell's central bank will announce a 0.25% rate cut, according to the CME Group FedWatch Tool. In the futures, the S&P 500 rose 0.1%, the Nasdaq inclined 0.2% and the Dow Jones was steady.
The U.S. Federal Reserve's meeting this week will begin to set expectations for President Donald Trump's upcoming nominee to lead the central bank, potentially leaving policymakers in a bind between inflation concerns shared broadly and Trump's demands for interest rate cuts.
* No reason to change policy for months. * Exchange rate pass through may be smaller than thought. * Projected undershooting in 2026 not a worry. * No point in trying to overengineer policy. By Balazs Koranyi.
* Policy language, new projections begin to set a baseline for new chair. * Pressure for lower rates may founder if inflation persists, growth rebounds. * Official data still lagging from shutdown. By Howard Schneider.
Asian stock markets churned on Monday, as property issues pressured China-exposed exchanges, while traders awaited upcoming decisions from the Bank of Japan and the Federal Reserve. Shanghai and Tokyo finished in the green, while Hong Kong lagged.
Crude oil prices declined on Monday as investors remain in a wait-and-see mode regarding impacts of U.S. Federal Reserve interest rates and geopolitical developments on the oil market.
* Global stocks flat, Wall Street fractionally firmer. * China stocks gain as Nov exports top forecasts. * Fed expected to deliver hawkish rate cut on Wednesday. * Rates set to stay on hold in Canada, Switzerland, Australia. By Iain Withers and Wayne Cole.
* Dollar near over one-month lows. * Silver hit a record high of $59.32/oz on Friday. * Market price in 87% chance of Dec rate cut- CME FedWatch. By Pablo Sinha. Gold prices rose on Monday, driven by growing expectations of a U.S. interest rate cut that pressured the dollar, ahead of a Federal Reserve policy meeting this week. Spot gold rose 0.3% to $4,209.43 per ounce by 0851 GMT.
* Stocks up 0.04%, currencies 0.03% lower. * Data shows China exports topped forecast. * Border clashes hit Thai equities. By Niket Nishant. Emerging market assets were flat on Monday following two days of gains, as investors held their moves ahead of the U.S. Federal Reserve's interest rate decision this week, digested upbeat data from China and weighed fresh geopolitical tensions.
* 'Hawkish cut' expected for Fed. * Rates seen on hold in Australia, Canada, Switzerland and Brazil. * Aussie dollar hits 2-1/2-month high as hike swings into view. * Euro rises; ECB official says next move may even be a hike. By Tom Westbrook and Amanda Cooper.
Investor Kevin O?Leary warned that inflation remains a greater threat to the U.S. economy than the financial markets want to admit, while arguing that aggressive political pressure on the Federal Reserve risks undermining the country's global credibility.
China's annual car sales dropped 8.5% in November in a second straight monthly decline, for their biggest fall in 10 months, data showed on Monday, amid a waning scramble to buy vehicles before government subsidies dwindle at year-end.
* Car sales -8.5% y/y in Nov vs -0.8% y/y in Oct. * Boost from front-loading of govt subsidised purchases faded. * Sales estimated to be 5% y/y in 2025. * 2026 sales expected to be largely flat, CMBI says.
China's car sales dropped 8.5% in November from a year earlier, the second straight monthly decline, as the boost from a front-loading of purchases faded due to dwindling government subsidies. Car sales totalled 2.24 million vehicles last month, following a 0.8% slide in October, data from the China Passenger Car Association showed on Monday.
Most global brokerages expect the U.S. Federal Reserve to deliver an interest rate cut this week, with Nomura and Standard Chartered being the latest, reversing their earlier stand of the central bank holding rates amid dovish signals. Both Nomura and StanChart expect a 25-basis-point cut in the Fed's last policy meeting for the year.
Copper opened the week strong, setting a record high on Monday, bolstered by expectations of an interest rate cut by the U.S. Federal Reserve and prospect of supply tightness. The most-active copper contract on the Shanghai Futures Exchange closed daytime trading 1.54% higher to 92,970 yuan per metric ton. The Shanghai copper registered an all-time high at 93,300 yuan earlier this session.
German industrial production rose more than expected in October by 1.8% compared with the previous month, the federal statistics office said on Monday. Analysts polled by Reuters had predicted a 0.4% rise. The statistics office provides more detailed data on its website.
If we don't know where interest rates should be in an ideal world, how can we judge what today's borrowing costs are doing to a hyper-complex economy? For many investors, the search for a neutral interest rate is merely an academic parlor game, doomed to disagreement and theoretical ifs and buts.
ING reports outcome of 2025 EU-wide transparency exercise ING Group acknowledges the announcement from the European Banking Authority and the European Central Bank regarding the 2025 EU-wide Transparency Exercise.
* 'Hawkish cut' expected for Fed. * Rates seen on hold in Australia, Canada, Switzerland and Brazil. * Aussie dollar hits 2-1/2-month high as hike swings into view. The U.S. dollar drifted lower on Monday, ahead of a week crammed with central bank meetings and headlined by the U.S. Federal Reserve, where an interest rate cut is all but priced in although a divided committee makes for a wild card.
The long-awaited December U.S. Federal Reserve meeting is almost here. But it's not the only game in town for financial markets with Canadian, Swiss, Australian and Turkish central banks also meeting and the latest China data to pore over.
* Dollar languishes near over one-month lows. * Core PCE data on Friday showed modest increase in prices. * Silver hit a record high of $59.32/oz on Friday. By Ishaan Arora. Gold nudged higher on Monday, supported by a softer dollar as traders grew more confident the U.S. Federal Reserve will deliver an interest rate cut at its policy meeting this week.
Asian equities opened the week slightly higher ahead of a heavy run of central bank decisions, including a Federal Reserve meeting where markets have largely priced in a 25-basis-point rate cut.
Japanese government bond yields rose to fresh multi-year highs on Monday amid rising bets that the Bank of Japan will resume hiking interest rates at its meeting next week.
* Nikkei flat, Wall St futures fractionally firmer. * China stocks gain as Nov exports top forecasts. * Fed expected to deliver hawkish rate cut on Wednesday. * Rates set to stay on hold in Canada, Switzerland, Australia. By Wayne Cole.
A look at the day ahead in European and global markets from Wayne Cole. Futures are 88% for a rate cut, as if trying to make it a fait accompli for policymakers who wouldn't dare disappoint such overwhelming pricing. The Federal Open Market Committee has not had three or more dissents at a meeting since 2019, and that has happened just nine times since 1990.
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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