J.P. Morgan Asset Management is about to engage in some serious product renovation, announcing plans to turn four U.S. mutual funds into ETFs next year. These proposed conversions represent approximately $4.6 billion in assets as of Oct 31, and encompass municipal bond, preferred securities, and equity strategies-what the firm describes as ideal ETF candidates.
The Federal Reserve cut interest rates on Wednesday in another divided vote, but signaled it will likely pause further reductions in borrowing costs as officials look for clearer signals about the direction of the job market and inflation that "remains somewhat elevated."
The U.S. dollar extended losses against major peers including the euro, Swiss franc, and Japanese yen on Wednesday after the Federal Reserve lowered interest rates in a widely expected move.
The Federal Open Market Committee lowered the federal funds rate target by 25 basis points to a range of 3.50% to 3.75%, its statement Wednesday afternoon showed. Three officials dissented with Governor Stephen Miran preferring a larger 50-basis point reduction, while Chicago Fed President Austan Goolsbee and Kansas City Fed President Jeffrey Schmid preferred no change.
The Federal Reserve cut interest rates by 25 basis points to 3.5%?3.75%, delivering a third consecutive reduction that met expectations but exposed a widening policy divide?within the central bank. Policymakers decided to ease borrowing costs again, even as inflation remains elevated, citing a softer labor market as the reason.
The U.S. Federal Reserve is ending 2025 with a bang, delivering another rate cut for consumers amid an uncertain year for the economy. The Fed nudged interest rates lower by a quarter-percentage point on Wednesday, adding to two prior cuts in 2025. That's good news for borrowers but not so much for savers.
The Federal Reserve on Wednesday said it would imminently start buying short-dated government bonds to help manage market liquidity levels to ensure the central bank retains firm control over its interest rate target system.
* Fed will start reserve management bond buying on December 12. * Fed balance sheet expansion follows recent end of quantitative tightening. * Fed bond buying is technical in nature. By Michael S. Derby.
A majority of U.S. central bankers believe they will need to cut short-term interest rates next year, but are widely split over how much, with a large group opposed to any cuts at all and three penciling in a rate hike.
A sharply divided Federal Reserve cut interest rates on Wednesday but signaled borrowing costs are unlikely to drop further in the near term as it awaits clarity on the direction of a job market showing signs of softening, inflation that "remains somewhat elevated" and an economy it sees picking up steam next year.
A majority of U.S. central bankers believe they will need to cut short-term interest rates next year, but are widely split over how much, with a large group opposed to any cuts at all and three penciling in a rate hike.
US equity indexes traded mixed in midday trading, with healthcare and industrials topping sector charts amid expectations that a divided Federal Reserve will emerge in monetary policy announcements later on Wednesday.
The anticipated move comes as policymakers are still operating without several key economic data releases that remain delayed or suspended due to the U.S. government shutdown.
White House economic adviser Kevin Hassett on Wednesday said U.S. President Donald Trump will make his final choice to lead the Federal Reserve within the next two weeks. With "stronger data" as a rationale, "you could definitely get to 50 basis points or even more," Hassett, the front-runner to be the Federal Reserve's next chair, said in an interview on Fox News' "America Reports" program.
Affordability in the US housing market is expected to improve next year amid lower mortgage rates and muted price growth, News Corp's Realtor.com said in a report on Wednesday. The 30-year fixed mortgage rate in the US was 6.19% as of Dec. 4, compared with 7.04% in mid-January, Freddie Mac data showed.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each rising 0.7%. The Philadelphia Housing Index was climbing 1.4%, and the State Street Real Estate Select Sector SPDR ETF was up 0.5%. Bitcoin was declining 0.3% to $92,402, and the yield for 10-year US Treasuries was shedding 2 basis points to 4....
* Fed seen cutting 25bps, focus on dots and Powell. * Silver bursts above $60 an ounce. * Yields, dollar slip. By Caroline Valetkevitch and Amanda Cooper. Major stock indexes mostly edged higher while the dollar dipped on Wednesday as crunch time neared for a divided Federal Reserve policy board. Investors were also anxious to see earnings results from Oracle after Wall Street's closing bell.
KP Tissue (KPTSF) on Wednesday said Kruger Products Inc closed an offering of senior unsecured notes. The company said that KPI issued C$165 million principal amount of 6.250% senior unsecured notes due Dec.10, 2032 by way of private placement.
State legislators are prepping for a coming storm of budget turmoil caused by shifting Medicaid policy as the era of historic tax cuts appears to be ending.
Morgan Stanley said it expects Turkey's central bank to cut the policy rate by 100bps to 38.50% on Thursday and to remain cautious, while seeing risks skewed to a larger rate reduction. MT Newswires does not provide investment advice.
Carvana Co (CVNA) stock is trading higher Wednesday as markets brace for a pivotal Federal Reserve decision that is widely expected to deliver a third consecutive interest rate reduction. What To Know: While CME FedWatch data indicates a 25-basis-point cut is nearly fully priced in for the Dec. 10 meeting, analysts caution that the real market mover will be the central bank's forward guidance.
* Loonie gains 0.1% against the U.S. dollar. * BoC leaves its policy rate on hold at 2.25% * Price of oil decreases 0.2% * Canadian bond yields ease across the curve. By Fergal Smith. The Canadian dollar strengthened against its U.S. counterpart on Wednesday but the move was limited as the Bank of Canada left interest rates on hold and investors awaited a policy decision by the Federal Reserve.
The Bank of Canada held its policy rate unchanged on Wednesday as expected, but stopped short of validating markets' expectations for rate hikes as soon as the middle of next year, said National Bank of Canada. Instead, policymakers have adopted a more balanced view of recent improvements in hard economic data, noted the bank.
AM Best has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Casualty & General Insurance Company Limited.
* FTSE 100 up 0.1%, FTMC down 0.4% * Fed seen cutting rates, doubts remain on future path. * HSBC (HSBC), Standard Chartered (SCBFF) climb after BofA upgrade. Britain's blue-chip FTSE 100 edged up on Wednesday, supported by gains in banking stocks as investors awaited the U.S. Federal Reserve's interest rate decision.
The Bank of Canada left the overnight rate unchanged at 2.25% on Wednesday and reiterated that it believes that rates are at about the right level to keep inflation close to 2%, said CIBC.
* Indexes: Dow up 0.49%, S&P 500 up 0.11%, Nasdaq down 0.20% * Fed rate decision expected at 2 p.m. ET. * GE Vernova surges after bullish 2026 revenue forecast. * Oracle, Broadcom (AVGO) results awaited this week. By Johann M Cherian and Pranav Kashyap.
To the surprise of precisely no one, the Bank of Canada chose to keep its key lending rate unchanged on Wednesday at 2.25%, following 25 basis point trims in each of the prior two decisions, said Bank of Montreal. As such, the BoC cut rates by a total of 100 bps for all of 2025, after slashing them by 175 bps in the final five meetings of 2024.
JPMorgan Chase & Co (JPM) shares are trading higher Wednesday morning as investors position themselves ahead of Wednesday afternoon?s pivotal Federal Reserve decision. While a 25-basis-point cut is nearly fully priced in, the real market mover will be the potential for a ?hawkish cut,? a scenario where the Fed eases slightly but signals a potential pause in 2026.
The Bank of Canada held its policy rate at 2.25% on Wednesday, in line with market expectations, said TD. The opening statement highlighted that while United States tariffs and trade uncertainty continue to weigh on business investment, the Canadian economy has proven to be relatively resilient, noted the bank. The BoC expects that inflation will continue to moderate in the coming months.
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. STOCKS MIXED, TECH WEAKENS BEFORE EXPECTED FED RATE CUT. Stocks were mixed on Wednesday, with the Dow Jones Industrial Average and S&P 500 recording modest gains, while the Nasdaq Composite is in the red, ahead of an expected rate cut by the Federal Reserve.
AM Best has assigned a Long-Term Issue Credit Rating of ?bbb+? to the $70 million, 9% surplus notes, due December 2045, issued by Maine Employers? Mutual Insurance Company. The surplus notes issuance is intended to strengthen the balance sheet and support MEMIC?s acquisition of the Dakota Group, which is expected to close in January 2026, pending regulatory approval.
The U.S. dollar weakened on Wednesday, erasing two days of
gains, as investors trimmed positions in anticipation of an
expected third consecutive interest rate cut of a quarter of a
percentage ...
Desjardins said the Bank of Canada decision to keep its benchmark interest rate steady on Wednesday didn't come as much of a surprise, given the guidance provided last meeting, and as such doesn't change the Desjardins view that the central bank will remain on hold throughout 2026.
Canada's main stock index was flat on Wednesday, with gains in real estate and financials, after the Bank of Canada held interest rates as expected, while attention shifted to the U.S. Federal Reserve's decision later in the day. Canada's benchmark index was at 31,233.4 points by 10:15 a.m. ET.
The Bank of Canada left the overnight rate unchanged at 2.25% on Wednesday and reiterated that it believes that rates are at about the right level, said CIBC.
Governor Tiff Macklem on Wednesday said he had three main messages after the Bank of Canada's Governing Council on Wednesday decided to keep rates on hold. First, steep United States tariffs on steel, aluminum, autos and lumber have hit these sectors hard, and uncertainty about U.S. trade policy is weighing on business investment more broadly.
* Indexes: Dow up 0.06%, S&P 500 flat, Nasdaq down 0.18% * Fed rate decision expected at 2 p.m. ET. * GE Vernova rises after bullish 2026 revenue forecast. * Oracle, Broadcom (AVGO) results awaited this week. By Johann M Cherian and Pranav Kashyap.
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.
Log In Required
Publication Date