The Federal Open Market Committee is widely expected to lower the range for its federal funds rate by 25 basis points from the current range of 3.75% to 4.00%, with markets looking at Federal Reserve Chairman Jerome Powell's post-meeting comment and the updated Summary of Economic Projections for signs of further increases.
Financial stocks were decreasing in Tuesday afternoon trading, with the NYSE Financial Index easing 0.1% and the State Street Financial Select Sector SPDR ETF down 0.4%. The Philadelphia Housing Index was falling 1.2%, and the State Street Real Estate Select Sector SPDR ETF was down 0.3%. Bitcoin was increasing 3.6% to $93,914, and the yield for 10-year US Treasuries was slightly higher at 4.18...
US equity indexes were mixed after midday Tuesday, with basic materials and energy topping the sector charts. The Dow Jones Industrial Average fell 0.3% to 47,613.2, with the S&P 500 up 0.1% to 6,851.6 and the Nasdaq Composite 0.2% higher at 23,601.8. Industrials, real estate, and healthcare led the decliners.
* Ukraine launched proposal to swap warrants for bonds on December 1. * Early consent deadline extended to December 15. * Restructuring growth-linked warrants is last major hurdle to clear default. By Marc Jones.
* Nvidia (NVDA) decision hurts Chinese tech names. * Investors cautious ahead of central bank meetings. * Fed rate cut all but certain, focus moves to outlook. By Caroline Valetkevitch and Alun John.
JPMorgan Chase's (JPM) investment management division JPMorgan Asset Management is looking to convert two municipal-bond mutual funds with over $840 million of assets into exchange-traded funds in 2026, Bloomberg reported Tuesday, citing a filing.
KBRA assigns a short-term rating of K1+ to Cobb County School District, Georgia's Short-Term Construction Notes, Series 2026, due December 15, 2026. Additionally, KBRA affirms the short-term rating of K1+ on the District's Short-Term Construction Notes, Series 2025 due December 15, 2025, and the long-term rating of AAA with a Stable Outlook for the District's Implied General Obligation Credit.
Legislation to increase the affordable housing supply which often includes bond sales is getting attention in Congress as the bipartisan ROAD to Housing Act hits a speed bump.
What is expected to be one of the most ructious Federal Reserve policy meetings in years this week could well prove to be the road test for financial markets on how U.S. monetary policy debates will shape up in 2026.
The Bank of Canada meets on Wednesday, but the unanimous view is for no change in interest rates, said Deutsche Bank. That follows neutral language from the BoC's last policy meeting, plus some strong data that's taken the economic surprise index to near a three-year high, and the highest in G10, wrote the bank in a note.
* Indexes up: Dow 0.32%, S&P 500 0.23%, Nasdaq 0.16% * U.S. to allow Nvidia H200 chip shipments to China. * Warner Bros fight heats up with $108 bln hostile bid from Paramount. * Investors assess JOLTS data. By Johann M Cherian and Pranav Kashyap.
* EssilorLuxottica falls after Google unveils AI glasses plans. * Thyssenkrupp falls after warning of deep net loss in 2026. * Galp tumbles after asset swap deal with TotalEnergies. By Purvi Agarwal and Ragini Mathur.
The Bank of Canada is set to leave its policy rate unchanged at 2.25% this week, after declaring in October that it is "at about the right level" to keep inflation near target and help the economy through a structural adjustment, said National Bank of Canada. Forecasters unanimously expect a hold and OIS markets see no chance of a cut, wrote the bank in a note published on Monday.
The Toronto Stock Exchang is up 172 points midday on Tuesday ahead of the Bank of Canada interest-rate decision tomorrow, with healthcare, technology and financial sectors the best performers.
* FTSE 100 flat, FTSE 250 down 0.1% * BAT sees 2026 growth at lower end of target. * UK consumer spending in November disappoints. The UK's blue-chip FTSE 100 was little changed on Tuesday, as gains in precious-metal miners and defence stocks offset declines elsewhere, while investors looked ahead to a highly anticipated U.S. interest rate decision on Wednesday.
The one question Rosenberg Research said it was constantly receiving from Canadian clients, as the Bank of Canada reignited its easing cycle, was whether this would trigger renewed inflation and speculative behavior in the housing market. To date, no such thing has happened, stated Rosenberg Research.
The tough job market for youth has been a running theme in the Canadian economy in recent years, said Bank of Montreal. Since immigration inflows bounced back after the COVID-19 pandemic, the jobless rate for this cohort has been on an upward trajectory, noted the bank.
* Silver hits all-time high of $60.52/oz. * 10. * Traders see 87.4% chance of a December rate cut. * Data shows U.S. job openings increased marginally in October. By Anjana Anil and Anushree Mukherjee.
Ukraine got crucial signal of backing from creditors on Tuesday in its long-running push to swap $2.6 billion of growth-linked debt for a new, more predictable set of government bonds. Ukraine launched an offer on December 1 to replace its so-called GDP warrants for bonds with a rising interest rate, plus up to $180 million up front cash payment if the deal passes swiftly with widespread support.
* Job openings rise unexpectedly. * * Market anticipates "hawkish cut" with higher bar for future cuts. By Chuck Mikolajczak. U.S. Treasury yields were mostly higher on Tuesday, erasing earlier declines after data on the labor market and ahead of a Federal Reserve policy announcement in which the central bank is largely expected to cut interest rates.
An Italian investment bank is breaking with an almost unanimous Wall Street consensus ahead of Wednesday's Federal Reserve meeting, predicting policymakers will hold rates steady despite markets treating another cut as nearly guaranteed. Futures markets are pricing in a roughly 88% chance of a 25-basis-point cut at the Dec. 10 meeting, according to CME Fed Watch tool.
With the policy rate at the lower end of Bank of Canada's estimated neutral rate range, and still higher than its peak of 1.75% between the Global Financial Crisis and the COVID-19 pandemic, it is difficult to see how central bankers can have any confidence that the current 2.25% interest rate setting is low enough to heal the ailing economy, said Desjardins.
"Ultimately, this report is essential because member firm compliance protects investors and safeguards the integrity of our markets," FINRA's Greg Ruppert said.
* Focus on Fed meeting, with rate cut all but priced in. * Investor confidence brittle after earthquake strikes Japan. * Aussie dollar gains as RBA rules out easing. By Lucy Raitano and Gertrude Chavez-Dreyfuss.
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of ?a-?. Concurrently, AM Best has affirmed the Indonesia National Scale Rating of aaa.ID of PT Asuransi Tugu Pratama Indonesia Tbk with a stable outlook.
Greystone, a leading national commercial real estate finance company, announced that it has assisted Cross River Bank in completing a $288 million non-agency CMBS securitization, backed by 59 loans secured by 67 properties across four states, and rated by Moody?s and Morningstar DBRS.
White House economic adviser Kevin Hassett, the front-runner to be the Federal Reserve's next chair, told the WSJ CEO Council on Tuesday there is "plenty of room" to cut interest rates further, though he added that if inflation rises the calculation may change.
Kenya's central bank Tuesday said its Monetary Policy Committee decided to lower the Central Bank Rate by 25bps to 9.00% on lower inflation expectations.
Canada's main stock index advanced on Tuesday, with gold stocks leading gains, as investors awaited the highly anticipated central bank decisions from the U.S. Federal Reserve and the Bank of Canada. Toronto's S&P/TSX Composite Index gained 0.5% at 31,330.26 points by 10:00 a.m. ET.
* Indexes: Dow up 0.30%, S&P 500 up 0.12%, Nasdaq off 0.14% * U.S. to allow Nvidia H200 chip shipments to China. * Warner Bros fight heats up with $108 bln hostile bid from Paramount. By Johann M Cherian and Pranav Kashyap.
* Traders see 89.4% chance of a December rate cut. * FOMC policy meeting on December 9-10. * Job openings report due at 10 am ET. By Sarah Qureshi. Gold rose on Tuesday as traders remained optimistic ahead of the U.S. Federal Reserve's interest rate decision on Wednesday, while also awaiting the U.S. job openings report for further clues on labor market strength.
Friday's session produced a significant selloff in Government of Canada rates -- the largest single-day two-year yield increase since October 2024 -- catalyzed by yet another stronger-than-expected Labour Force Survey report, said National Bank of Canada.
NEW YORK, Dec. 9, 2025 The Conference Board Leading Economic Index? for the US declined by 0.3% in September 2025 to 98.3, after also declining by 0.3% in August. "The US LEI fell again in September, marking a second consecutive decline," said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board.
Image: Bitcoin Munari Bitcoin Munari will close its Round 4 presale tonight at a fixed price of $0.50, marking a scheduled transition to the project?s next pricing stage amid continued caution across the broader crypto market. This movement unfolded against a macro environment characterized by reduced expectations of a December rate cut ahead of the US Federal Reserve?s December 11 meeting.
Antero Midstream (AM) said Tuesday it plans to sell $500 million of senior unsecured notes due 2034 in a private placement to eligible investors. The company said it plans to use the proceeds, together with borrowings under Antero Midstream Partners LP's revolving credit facility and cash from the sale of its Utica Shale midstream assets, to fund the purchase of HG Energy II Midstream Holdings.
Canada's main stock index was subdued on Tuesday, with investor risk appetite on pause ahead of highly anticipated central bank decisions from the U.S. Federal Reserve and the Bank of Canada. At 9:30 a.m. ET, Toronto's S&P/TSX composite index was flat at 31,171.17 points.
Morgan Stanley said it expects the Brazilian central bank to keep rates unchanged at 15.00% on Wednesday. BCB's policymakers will keep a hawkish tone, in the bank's view, reinforcing the need for caution to assess cumulative impacts of the hiking cycle. MT Newswires does not provide investment advice.
AM Best has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Provident Insurance Corporation Limited. The ratings reflect PICL?s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
* Futures off: Dow 0.06%, S&P 500 0.07%, Nasdaq 0.16% * U.S. to allow Nvidia H200 chip shipments to China. * Warner Bros fight heats up with $108 bln hostile bid from Paramount. By Johann M Cherian and Pranav Kashyap.
US equity futures were flat ahead of Tuesday's opening bell as the Federal Reserve kicked off its policy-setting meeting. Dow Jones Industrial Average futures were flat, S&P 500 futures were little changed, and Nasdaq futures were down 0.1%. The Federal Open Market Committee begins its two-day meeting Tuesday, concluding with a monetary policy statement at 2 pm ET Wednesday.
The Federal Reserve is widely expected to trim interest rates on Wednesday, but if Chair Jerome Powell wants to give markets an added holiday surprise, here's one option: about $45 billion of monthly short-term bill purchases. That's the out-of-consensus call from Bank of America's rates strategists. Bank reserves peaked at $4.27 trillion in 2021, and have recently fallen as low as $2.83 trillion.
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.
The Bank of Canada will hold its final policy decision of the year on Wednesday, with the statement out at 9:45 a.m. ET, said TD. Before November's employment report, it was already expected that interest rates would stay unchanged, and last Friday's Labour Force Survey confirms this view, noted the bank. More important is how the Governing Council guides the outlook, stated TD.
* Dollar unchanged against range of currencies ahead of Fed meeting. * Investor confidence brittle after earthquake strikes Japan. * U.S. Treasury bonds stabilise after three-day selloff. * Yen firmer after five-year JGB auction attracts bids. By Gregor Stuart Hunter and Lucy Raitano.
* U.S. futures and European stocks hold steady. * Nvidia (NVDA) decision hurts Chinese tech names. * Investors cautious ahead of central bank meetings. * Fed rate cut all but certain, focus moves to rates outlook. * Yen steady after Japan earthquake. By Alun John and Ankur Banerjee.
Morgan Stanley (MS), Standard Chartered (SCBFF) and Nomura became the latest brokerages to forecast an interest rate cut by the U.S. Federal Reserve in December, as dovish signals from key voting members and weakness in the labor market ramped up hopes of lower borrowing costs.
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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