Latin American assets resumed their decline on Wednesday, following a one-day reprieve as investors braced for potentially hawkish commentary from Federal Reserve Chair Jerome Powell.
The MSCI ...
* Fed expected to cut rates, decision due at 2 p.m. ET. * Markets pricing in 89.6% chance of a rate cut. * Silver hits record high of $61.61/oz. By Sarah Qureshi and Anushree Mukherjee.
Municipal bond supply projections for next year range from a high of $750-plus billion to a low of $520 billion, with most firms expecting issuance to hover around $600 billion, easily surpassing 2025's record.
The Bank of Canada on Wednesday held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The BoC's decision was in line with expectations. As background, Canada's economy grew by a surprisingly strong 2.6% in Q3, even as final domestic demand was flat.
First Fed Bank and its holding company, First Northwest Bancorp (FNWB), announced the retirement of Norman J. Tonina, Jr. from the Company?s Boards of Directors, effective at the regular Board meetings on December 9, 2025. ?Norm?s commitment and contribution to the Company and Boards for the last 12 years cannot be understated.
* The Bank of Canada holds rates steady at 2.25% as expected. * Macklem says economy was proving more resilient to tariffs. * Macklem reiterates policy rate at about the right level. * U.S. Federal Reserve likely to announce rate cut on Wednesday. By Promit Mukherjee and David Ljunggren.
Wall Street's main stock indexes opened little changed on Wednesday, ahead of a Federal Reserve monetary policy decision that is widely expected to deliver an interest rate cut, while investors remain wary of hawkish commentary on the path of future easing.
Wall Street's main stock indexes opened little changed on Wednesday, ahead of a Federal Reserve monetary policy decision that is widely expected to deliver an interest rate cut, while investors remain wary of hawkish commentary on the path of future easing.
* Employment cost index increases 0.8% in third quarter. * Quarterly wage growth slows, but annual gains remain solid. * Government shutdown reduced data collection rate for report. By Lucia Mutikani. U.S. labor costs increased slightly less than expected in the third quarter as a softening labor market curbed wage growth, which bodes well for the inflation outlook.
Canada's main stock index opened lower on Wednesday, with investors taking a breather before interest rate decisions from the Bank of Canada and the U.S. Federal Reserve later in the day. At 9:31 a.m. ET, Toronto's S&P/TSX composite index was down 0.12% at 31,208.29 points.
The population with $1 million+ in investable assets represents a critical segment for wealth and asset managers, with their investable wealth of $67.3 trillion poised for 45% growth by 2030. NEW YORK, Dec. 10, 2025 /PRNewswire/ -- Today Altrata, the leader in intelligence on the wealthy and well-connected, released a new study, Investable Assets of the Global Wealthy.
The global interest rate landscape is suddenly looking a lot less benign than it did only a few weeks ago, suggesting 2026 could be much more volatile than investors had bargained for.
* Futures: Dow up 0.03%, S&P 500 flat, Nasdaq down 0.08% * Fed rate decision expected at 2 p.m. ET. * GE Vernova rises after bullish 2026 revenue forecast. * Oracle, Broadcom (AVGO) results due later in the day. By Johann M Cherian and Pranav Kashyap.
AI exuberance: Economic upside, stock market downside VALLEY FORGE, Pa., Dec. 10, 2025 Vanguard today released its annual outlook on the global economy and financial markets. Financial markets are exuberant?and there are some good reasons for that.
Bond nerves are jangling in Canada after the jobs report last Friday triggered the rout in government bonds, said Societe Generale. The Bank of Canada wasn't at all anticipating the improvement in the labor market at the last meeting, but a glance under the bonnet suggests that perhaps the hawkish repricing is a tad overdone, stated SocGen.
?. ISIN Code. Our Ref. ISSUE NAME. Santander UK PLC. Issue of GBP 1,000,000,000.00. Floating Rate Covered Bonds due September 2029. Series No 89 Tranche 1 MTN. INTEREST PERIOD. VALUE DATE. INTEREST RATE. NUM OF DAYS. DAY BASIS. CURRENCY CODE. TOTAL INTEREST AMT. GBP 11,138,649.32. POOL FACTOR.
?. ISIN Code. Our Ref. ISSUE NAME. Santander UK PLC. Issue of GBP 1,100,000,000.00. Floating Rate Covered Bonds due June 2028. Series 81 Tranche 1 MTN. INTEREST PERIOD. VALUE DATE. INTEREST RATE. NUM OF DAYS. DAY BASIS. CURRENCY CODE. TOTAL INTEREST AMT. GBP 12,307,363.56. POOL FACTOR.
U.S. labor costs increased slightly less than expected in the third quarter as a softening labor market curbed wage growth, which bodes well for services inflation. The Employment Cost Index, the broadest measure of labor costs, rose 0.8% in the last quarter, after gaining 0.9% in the second quarter, the Labor Department's Bureau of Labor Statistics said on Wednesday.
The quarterly US employment cost index rose by 0.8% in Q3, slower than the 0.9% gain in the previous quarter, the US Bureau of Labor Statistics reported on Wednesday. This was below the consensus estimate of a 0.9% gain in a survey compiled by Bloomberg. Benefits costs rose by 0.8% in the third quarter after a 0.7% gain in previous quarter, while wage growth slowed to 0.8% from 1.0% in Q2.
U.S. home prices will rise just 1.4% in 2026 after a similar performance this year, a Reuters poll of property experts showed on Wednesday, the slowest annual pace in 14 years despite expectations for several more interest rate cuts.
U.S. home prices will rise just 1.4% in 2026 after a similar performance this year, a Reuters poll of property experts showed on Wednesday, the slowest annual pace in 14 years despite expectations for several more interest rate cuts.
The Bank of Canada policy statement will appear at 9:45 a.m. ET on Wednesday, as well as Governor Tiff Macklem's opening remarks, said Scotiabank. The press conference will be held at 10:30 a.m. ET on Wednesday, noted the bank. Nobody expects the policy rate to change on Wednesday, stated Scotiabank. Scotiabank pointed out that it has been calling H2 2026 hikes since September.
Since late October, gold's remarkable rally encountered? a steep correction ? a victim of both risk-off sentiment in the technology sphere, along with concerns that the Federal Reserve would adopt a more pensive approach to monetary policy. Still, shortly after Halloween, sentiment has been steadily marching higher.
CLARK, N.J., Dec. 10, 2025 /PRNewswire/ --?GEP Global Supply Chain Volatility Index, a leading economic indicator based on a monthly survey of 27,000 businesses, shows that global supply chains remained underutilized in November, with manufacturers continuing to limit purchasing, signaling a weakening outlook for the start of 2026.
* European stocks, S&P futures flat. * Fed seen cutting 25bps, focus on dots and Powell. * Yen shaky after stumble takes it to record low on euro. * Silver bursts above $60 an ounce. By Amanda Cooper. LONDON, Dec 10 - Global stocks dipped on Wednesday as crunch time neared for a divided Federal Reserve policy board and earnings results that could test sky-high AI valuations.
* Silver hits record high of $61.61/oz. * Silver crossed $60/oz for the first time on Tuesday. * Fed expected to cut rates, decision due at 1900 GMT. By Pablo Sinha. Gold prices edged down on Wednesday as investors awaited an expected interest rate cut by the U.S. Federal Reserve and clues on its future policy, while silver extended its rally to new highs.
* Futures off: Dow 0.06%, S&P 500 0.06%, Nasdaq 0.15% * Fed rate decision due at 2:00 p.m. ET. * GE Vernova rises after bullish 2026 revenue outlook. * GameStop slips on third-quarter revenue miss. By Johann M Cherian and Pranav Kashyap.
Germany's 10-year borrowing costs hit fresh multi-month highs on Wednesday as traders price out any chance of further European Central Bank rate cuts, while looking ahead to an important Federal Reserve meeting later in the day. French 10-year yields rose 3.2 bps to 3.59%, also around their highest since March.
The US dollar fell against its major trading partners early Wednesday as markets prepare for the Federal Open Market Committee's rate decision at 2:00 pm ET and Federal Reserve Chairman Jerome Powell's press conference at 2:30 pm ET.
Brazil's 12-month inflation slowed in November to its lowest level in more than a year, data from statistics agency IBGE showed on Wednesday, undershooting market forecasts ahead of the central bank's final policy decision of 2025.
There is little mystery about what the Bank of Canada will do on Wednesday, said Bank of Montreal. Three strong job reports will likely send the BoC back to the sidelines after a couple of rate trims in the fall, noted the bank.
* Markets brace for a Fed hawkish rate cut. * BOJ is expected to hike in December, but fiscal policy in focus. * Euro supported by a more hawkish rate outlook. By Stefano Rebaudo. The U.S. dollar edged down versus the euro and the yen on Wednesday as investors awaited the Federal Reserve policy meeting later in the day which is expected to deliver a so-called hawkish rate cut.
The Bank of Canada has cut by 100bps this year, taking the key policy rate to 2.25% -- two cuts came toward the start of the year with two at the last two meetings in September and October but the flow of data of late suggests the BoC may well be content with the stance of monetary policy, said MUFG.
Canacol Energy (CNNEQ) said Wednesday that it has signed an agreement with a group of its 5.75% senior unsecured notes holders for debtor-in-possession financing. The financing, which is comprised of a US$45 million delayed-draw new-money term loan, also carries the option to increase it by up to $22 million in letters of credit to renew and/or replace certain existing letters of credit.
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.
STOCKS: The benchmark BSE Sensex closed 0.3% lower at 84,391.27, while the broader NSE index declined 0.3% to 25,758, on concerns that the U.S. Federal Reserve may signal a more hawkish 2026 outlook after an expected rate cut later in the day.
The Bank of Canada meets on Wednesday to set interest rates, and the policy statement is scheduled to be released at 9:45 a.m. ET, said ING. The policy rate is unanimously expected to be left at 2.25%, wrote the bank in a note. The meeting comes at a time of hawkish global re-pricing -- led largely by Australia, stated ING.
By Marc Jones, global markets correspondent?. What matters in U.S. and global markets today. Wall Street futures and bond and FX markets are hunkering down as crunch time nears for a divided Federal Reserve policy board, while earnings from Oracle and Broadcom will provide the latest test for sky-high valuations in the AI space. I'll get into all the market news below.
* FTSE 100 up 0.1%, FTMC down 0.1% * HSBC (HSBC), StanC climb after BofA upgrade. * Media stocks rise after JPMorgan's bullish views. Dec 10 - UK shares were mixed on Wednesday, as investors refrained from placing big bets ahead of the U.S. Federal Reserve's interest rate decision.
Futures for Canada's main stock index ticked lower on Wednesday as investors awaited highly anticipated interest rate decisions by the Bank of Canada and the U.S. Federal Reserve later in the day. Futures on the S&P/TSX Composite Index were down 0.2% at 05:30 a.m. ET.
* Silver hits record high of $61.61/oz. * Silver crossed $60/oz for the first time on Tuesday. * Fed expected to cut rates, decision due at 1900 GMT. By Pablo Sinha. Gold prices edged down on Wednesday as investors awaited an expected U.S. Federal Reserve rate cut and clues on future policy, while silver extended its rally to new highs. Spot gold was down 0.4% to $4,193.60 per ounce at 1113 GMT.
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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