Issuers mostly avoided pricing deals in the previous weeks the Fed met this year, but that's not the case this week, said Pat Luby, head of municipal strategy at CreditSights, and Wilson Lees, an analyst at the firm.
US equity indexes closed lower Monday as government bond yields rose and investors awaited the Fed's upcoming decision on interest rates. * Ahead of the Fed meeting, the current chances of the Federal Open Market Committee announcing a 25-basis-point reduction in interest rates on Wednesday are 89.4%, up from 86.2% on Friday, according to the CME FedWatch tool.
This is the first upgrade of bonds supported by assets currently or formerly in the Puerto Rico government's hands since the passage of PROMESA in 2016.
Financial stocks were decreasing in Monday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each shedding 0.6%. The Philadelphia Housing Index was falling 1.2%, and the Real Estate Select Sector SPDR Fund was down 0.4%. Bitcoin was 1.1% lower at $90,463, and the yield for 10-year US Treasuries was rising 3.5 basis points to 4.17%. In sector news, Oppenh...
Financial stocks were decreasing in Monday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each shedding 0.6%. The Philadelphia Housing Index was falling 1.2%, and the Real Estate Select Sector SPDR Fund was down 0.4%. Bitcoin was 1.1% lower at $90,463, and the yield for 10-year US Treasuries was rising 3.5 basis points to 4.17%. In corporate news, Bla...
US equity indexes fell in midday trading on Monday amid gains in government bond yields and the dollar as investors keenly await monetary policy projections from an interest rate-setting meeting mid-week.
The Toronto Stock Exchange's S&P/TSX Composite Index weakened for a third-straight session midday on Monday on fading expectations for an interest-rate cut this week from the Bank of Canada.
Silver steadied near $58.50 an ounce in Asian trading on Monday, just below last week's all-time high, as traders braced for a widely expected Federal Reserve rate cut. The metal has more than doubled this year, outperforming gold's 60% surge by a wide margin. One-month lease rates in London remain near 6%, underscoring how scarce physical supply has become.
Consumer expectations for one-year US inflation growth remained at a 3.2% gain in November after falling to that point in October, according to a survey released by the New York Federal Reserve Bank on Monday. The median inflation expectations remained at a 3.0% gain for the three-year period and five-year periods.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
US equity indexes rose this week as the odds of a third consecutive interest rate cut remained elevated amid supportive macroeconomic data and as leadership returned to high-growth sectors. * The S&P 500 closed at 6,870.40 on Friday versus 6,827.70 a week ago. * Technology and communication services were the top two sectors this week, a return of leadership to high-growth areas.
The Nasdaq Composite extended its winning streak to a fourth straight session on Friday, as Wall Street logged back-to-back weekly gains amid expectations that the Federal Reserve will cut interest rates next week. The Nasdaq rose 0.3% to close at 23,578.1. The Dow Jones Industrial Average and the S&P 500 each gained 0.2% to end at 47,955 and 6,870.4, respectively.
If the Federal Reserve needed any encouragement toward easing, the latest ADP numbers are pushing in that direction. "Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment. Zooming out provides a clearer picture.
Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.2%. The Philadelphia Housing Index was 0.3% lower, and the Real Estate Select Sector SPDR Fund rose 0.3%. Bitcoin was declining 2.6% to $89,725, and the yield for 10-year US Treasuries rose 3 basis points to 4.14%. In corporate news, Barclays (BCS) is...
The Trump administration is requesting information on revitalizing Dulles International Airport, including the possibility of tapping a public-private partnership.
Gold was steady midafternoon on Friday after a report showed U.S. inflation continued to run hot in September but not enough to derail expectations the Federal Reserve will cut interest rates next week. Gold for February delivery was last seen up US$3.70 to US$4,246.70 per ounce.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index up 0.4% and the Financial Select Sector SPDR Fund adding 0.3%. The Philadelphia Housing Index was 0.1% lower, and the Real Estate Select Sector SPDR Fund rose 0.3%. Bitcoin was declining 3.4% to $89,266, and the yield for 10-year US Treasuries rose 4 basis points to 4.14%. In corporate news, DigitalBridge...
US consumer sentiment picked up after a four-month deterioration, while year-ahead inflation expectations hit the lowest in 11 months, preliminary results from a University of Michigan survey showed Friday. The main sentiment index rose to 53.3 in December from 51 in November.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index up 0.2% and the Financial Select Sector SPDR Fund adding 0.3%. The Philadelphia Housing Index was fractionally higher, and the Real Estate Select Sector SPDR Fund rose 0.4%. Bitcoin was declining 3% to $89,395, and the yield for 10-year US Treasuries rose 4 basis points to 4.14%. In corporate news, Digita...
C. Christopher Trower was the lead attorney before the Supreme Court in a case that upheld states' rights to preferential tax treatment of their own bonds.
The Toronto Stock Exchange was lower midday on Friday despite a better than expected jobs report for November. The S&P/TSX Composite Index was last seen down 113.39 Points to 31,364.18 after setting a record high a day earlier. The drop comes even as Statistics Canada reported Canada added 54,000 new jobs last month, driven by gains in part-time work.
The European stock markets closed mixed in Friday trading as the Stoxx Europe edged 0.01% higher, Germany's DAX gained 0.66%, the FTSE 100 declined 0.45 %, France's CAC was off 0.09%, and the Swiss Market Index rose 0.33%. Seasonally adjusted GDP increased 0.3% in the euro area and 0.4% in the EU in Q3, compared with the previous quarter, according to Eurostat, the statistical office of the Eur...
Consumer spending growth slowed in September, while the Federal Reserve's preferred inflation metric decelerated at the annual level, delayed government data showed Friday. Personal consumption expenditures rose 0.3% in September, in line with Wall Street's estimates, the Bureau of Economic Analysis said in a report.
Economic data released Friday showed the Fed's preferred inflation gauge eased slightly in September, while early December readings pointed to a rebound in consumer sentiment as inflation expectations cooled. The Bureau of Economic Analysis published the delayed September Personal Income and Outlays report, pushed back several weeks due to the government shutdown.
The University of Michigan's preliminary consumer sentiment index rose to 53.3 in December from 51.0 in November, above expectations for a smaller increase to 52.0 in a survey compiled by Bloomberg as of 7:35 am ET.
The Canadian labor market continued an impressive streak of hiring in November, with 54,000 jobs added and the unemployment rate falling sharply to 6.5%, said CIBC after Friday's Labour Force Survey.
Canada will release the Labour Force Survey for November at 8:30 a.m. ET on Friday, said Scotiabank. Consensus is for a 2,500 decline for jobs, while the bank estimates 15,000 job losses. LFS gets revised only once per year, unlike rolling monthly revisions in the United States. The BoC looks at trends, especially for such a "noisy" report, pointed out the bank.
The US dollar fell against its major trading partners early Friday, except for a gain versus the yen, ahead of the release of delayed personal income, spending and price data for September and the preliminary University of Michigan consumer sentiment index for December, all at 10:00 am ET.
Last week, Statistics Canada slipped major revisions to previous data into its gross domestic product release, said Rosenberg Research. Growth for 2022, 2023, and 2024 was each revised upwards by about 0.5%, meaning that GDP by the end of 2024 was a total of 1.7% higher than previously estimated.
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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