Hungary's central bank left rates unchanged at 6.50% on Tuesday, as expected, said ING. The new forecast brought a dovish shift, with inflation moving from 3.8% to 3.2% on average next year and, at the same time, worsening the economic outlook, wrote the bank in a note. However, the main surprise came from the press conference and the dovish tone of Governor Mihaly Varga, stated ING.
Major European bourses were advancing mid-session Wednesday as investors await the region's central bank decisions after the final policy meetings for the year. Wall Street futures were edging higher premarket, while Asian exchanges were mixed at Wednesday's close.
Alvotech (ALVO) said Wednesday that it has placed a $108 million offering of senior unsecured convertible bonds due 2030. The offering, which was oversubscribed, will be used to finance research and development, expected to be around $250 million in 2026, the company said. The bonds carry a coupon of 6.875% with an initial conversion price of $5.9224 per share, the company said.
* FTSE 100 up 1.7%; FTSE 250 up 1% * UK inflation falls to 3.2%, boosting rate cut bets. * FTSE 350 Banks index at highest level since 2008. * Serco (SECCF) jumps after profit forecast beats market estimates.
The U.S. bond market is heading into the year-end with less anxiety than usual, sanguine that the Federal Reserve's latest funding plans will cushion the seasonal cash crunch that occurs as banks pull back from short-term lending.
* Repo year-end "turn" falls, suggesting improving liquidity. * Fed T-bill purchases to stabilize overnight funding rates. * Markets are more prepared for year-end flows -analyst. By Gertrude Chavez-Dreyfuss.
China Vanke Co Ltd: * FITCH DOWNGRADES CHINA VANKE TO 'C' AND VANKE HK TO 'CC' * FITCH: WE EXPECT CHINA VANKE'S FREE CASH FLOW TO REMAIN NEGATIVE IN 2025 AND 2026, EVEN AFTER INCLUDING ASSET-SALE PROCEEDS. * FITCH: CHINA VANKE'S RATINGS REFLECT ITS HEIGHTENED DEFAULT RISK FROM BEING IN A GRACE PERIOD FOR BOND REPAYMENT Source text: Further company coverage:
Arguably, the most notable aspect of the United States jobs data on Tuesday was the two-tick upward lurch in the jobless rate to 4.6%, the highest since 2021, said Bank of Montreal. After dipping in June to 4.1%, the rate has risen steadily on average by one tick per month -- not a friendly trend, noted the bank.
Societe Generale in its early Wednesday economic news summary pointed out: -- US dollar off payrolls lows, oil rebounds 1.5% after President Trump ordered a blockade of sanctioned oil tankers going into and leaving Venezuela. -- Japan trade balance surprisingly swings to 322.2 billion yen surplus in November, exports accelerate to a nine-month high of 6.1% year over year.
Asian stock markets closed mixed Wednesday as traders digested the latest US jobs data and mulled potential Federal Reserve policy path ahead. On Tuesday, official US data showed that job growth in the world's largest economy rebounded in November after payrolls declined in October, while the unemployment rate shot up to the highest level in more than four years.
* ECB expected to hold rates on Thursday, BOE cut fully priced. * BOJ expected to raise rates on Friday. * Dollar wobbles as policy path for 2026 remain murky. By Joice Alves. Sterling fell on Wednesday after British inflation unexpectedly fell sharply, a day before the Bank of England is widely expected to cut interest rates.
* British inflation falls to 3.2%, lowest since March. * Interest rate futures show near certainty of BoE rate cut. * BoE's Bailey likely to switch vote for rate cut. * Sterling drops 0.7% against dollar. By Joice Alves.
Mercantile Bank (MBWM) and Eastern Michigan Financial said late Tuesday the Federal Reserve Bank of Chicago has approved their proposed merger. The deal is expected to close Dec. 31, pending Eastern Michigan shareholder approval and other conditions, the companies said. MT Newswires does not provide investment advice.
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the ?Neutral? zone on Tuesday. U.S. stocks settled mixed on Monday, with the Dow Jones index falling more than 300 points during the session as mixed labor market data failed to ignite a fresh wave of risk-on sentiment.
Europe must be responsible for its own security, European Union Commission President Ursula von der Leyen said on Wednesday. "This is no longer an option. She added that Europe "cannot afford to let others define its worldview," adding that while the U.S. national security strategy is right to say that Europe's share of global GDP is declining, the United States is on "the same path."
Euro zone yields fell and investors pared back bets on future European Central Bank rate hikes on Wednesday as the impact of recent hawkish remarks by board member Isabel Schnabel faded ahead of Thursday's policy meeting. The Bank of England will also be in focus on Thursday, while the Bank of Japan will announce its decisions on Friday.
Alvotech SA (ALVO): * ALVOTECH SUCCESSFULLY PLACES USD 108 MILLION SENIOR UNSECURED CONVERTIBLE BONDS IN A SIGNIFICANTLY OVERSUBSCRIBED OFFERING Source text: Further company coverage:
The strategic funding from international investment firm Vitruvian Partners will advance the company?s platform, helping organizations rapidly transform threat data into decisive action and a more robust security posture. Outpost24, a leader in exposure management and identity security, today announced a new investment from Vitruvian Partners to fuel its next phase of global growth.
* Euro hangs near 12-week high ahead of ECB policy decision. * BOE likely to cut rates, BOJ expected to raise rates. * Dollar wobbles as policy path for 2026 remain murky. By Ankur Banerjee.
A look at the day ahead in European and global markets from Rae Wee. All eyes in the European session will be on British inflation figures due early on Wednesday, just a day ahead of the Bank of England's rate outcome which is likely to come down to a knife-edge vote.
A look at the day ahead in European and global markets from Rae Wee. All eyes in the European session will be on British inflation figures due early on Wednesday, just a day ahead of the Bank of England's rate outcome which is likely to come down to a knife-edge vote.
* Sweetens 1-yr repayment extension plan with $8.5 mln interest. * Seeks to extend repayment grace period to 30 days. * Meets insurers, banks on Wed, Bloomberg News reports.
India's central bank governor Sanjay Malhotra expects the country's interest rates to remain low for a "long period", he told the Financial Times in an interview published on Wednesday. The Reserve Bank of India's projections suggested rates "should remain low for a long period of time", Malhotra told the FT.
Sterling weakened on Wednesday after an unexpected drop in UK inflation all but guaranteed that the Bank of England would cut interest rates, while the dollar rose as traders awaited other central bank decisions and weighed commentary from Federal Reserve officials.
* Euro nears 12-week high ahead of ECB policy decision. * BOE likely to cut rates, BOJ expected to raise rates. * Dollar wobbles as policy path for 2026 remain murky. By Ankur Banerjee.
The U.S. labor market showed further signs of cooling in November as nonfarm payrolls rose by 64,000, only modestly above expectations but still weak by historical standards, while the unemployment rate unexpectedly climbed to 4.6%, The Dow Jones Industrial Average fell 0.6% to 48,114.26, while the S&P 500 dropped 0.2% to 6,800.26. The Nasdaq rose 0.2% to 23,111.46. These are the top stocks tha...
Japan's exports to the U.S. rebounded for the first time in eight months in November, in a sign of easing pain from U.S. tariffs, government data showed on Wednesday, bolstering the case for the central bank to continue raising interest rates.
* November exports +6.1% yr/yr vs forecast +4.8% * Imports rise 1.3% yr/yr in November. * US-bound shipments up 8.8% yr/yr. By Makiko Yamazaki. Japan's exports to the U.S. rebounded for the first time in eight months in November, in a sign of easing pain from U.S. tariffs, government data showed on Wednesday, bolstering the case for the central bank to continue raising interest rates.
Some Trump administration officials have privately raised doubts about the possible selection of National Economic Council Director Kevin Hassett as the next Federal Reserve chair, Politico reported on Tuesday, citing three people familiar with the discussions.
Some Trump administration officials have privately raised doubts about the possible selection of National Economic Council Director Kevin Hassett as the next Federal Reserve chair, Politico reported on Tuesday, citing three people familiar with the discussions.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a? for the health and dental insurance subsidiaries of Humana Inc. (HUM) [NYSE: HUM]. These subsidiaries collectively are referred to as Humana Health Group.
Wall Street mostly fell on Tuesday - the Nasdaq bucked the trend and rose - while the dollar and Treasury yields slid after figures showed the U.S. unemployment rate in November rose to 4.6%, the highest in more than four years. More on that below. If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today. Today's Key Market Moves.
Wall Street mostly fell on Tuesday - the Nasdaq bucked the trend and rose - while the dollar and Treasury yields slid after figures showed the U.S. unemployment rate in November rose to 4.6%, the highest in more than four years. More on that below. If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today.
The Dow Jones Industrial Average and the S&P 500 fell for a third straight session on Tuesday as traders reacted to fresh employment data that showed the unemployment rate hitting a four-year high. The Dow shed 0.6% to 48,114.3, while the S&P 500 dipped 0.2% to 6,800.3. The Nasdaq Composite rose 0.2% to 23,111.5, rebounding after a three-day decline.
The extended workforce?contractors, independent professionals, SOW consultants, and project-based talent?underscores a fundamental shift: even when full-time payrolls cool, work itself does not slow JACKSONVILLE, Fla. According to the delayed BLS jobs report, total nonfarm payroll employment decreased by 105,000 in October and increased by 64,000 in November.
* Healthcare sector slides; Pfizer's (PFE) forecast disappoints. * US job growth rebounded in November; unemployment rate at 4.6% * Indexes: Dow down 0.62%, S&P down 0.24%, Nasdaq up 0.23% By Abigail Summerville and Johann M Cherian. Dec 16 - The Nasdaq recovered on Tuesday to close higher while the S&P 500 and the Dow closed lower, impacted by declines in healthcare and energy stocks.
Eos Energy Enterprises, Inc. (EOSE), an American energy company and the leading innovator in designing, sourcing, manufacturing, and providing zinc-based battery energy storage systems, today announced it will participate in the World Economic Forum Annual Meeting 2026 in Davos, Switzerland.
* FITCH - PLACES EUROCLEAR BANK ON RATING WATCH NEGATIVE. * FITCH- ALSO PLACED ON RWN EUROCLEAR BANK'S AND EH'S VIABILITY RATINGS OF 'AA', SHORT-TERM IDRS OF 'F1+' AND DEBT RATINGS. * FITCH- RWN REFLECTS FITCH'S VIEW OF POTENTIALLY INCREASED LIQUIDITY AND LEGAL RISKS FOR EUROCLEAR BANK Source: https://tinyurl.com/3srmczss.
Chile's central bank on Tuesday trimmed its benchmark interest rate by 25 basis points to 4.5% in a unanimous decision, in line with expectations, as inflation further cooled. In both October and November, annual inflation came in at 3.4%, within the central bank's target range of 2% to 4%.
Inflation reports may drive markets in 2026 since the labor market is "sending mixed messages," said Kevin O'Neil, associate portfolio manager and senior research analyst at Brandywine Global.
* Healthcare sector slides; Pfizer's (PFE) forecast disappoints. * US job growth rebounded in November; unemployment rate at 4.6% By Abigail Summerville and Johann M Cherian. Wall Street's main indexes pared some losses on Tuesday afternoon with the Nasdaq closing up, and the S&P 500 and the Dow closing lower, impacted by declines in healthcare and energy stocks.
Citadel's CEO Ken Griffin has urged President Donald Trump to create "distance" between the Federal Reserve and the White House, the Financial Times reported on Tuesday, as economic adviser Kevin Hassett emerges as one of the frontrunners to lead the U.S. central bank.
Citadel's CEO Ken Griffin has urged President Donald Trump to create "distance" between the Federal Reserve and the White House, the Financial Times reported on Tuesday, as economic adviser Kevin Hassett emerges as one of the frontrunners to lead the U.S. central bank.
Financial stocks were lower late Tuesday afternoon, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each shedding 0.5%. The Philadelphia Housing Index was falling 0.9%, and the State Street Real Estate Select Sector SPDR ETF was down 0.6%. Bitcoin was increasing 2.1% to $87,755, and the yield for 10-year US Treasuries fell 3.5 basis points to 4.15%. In econom...
New research from the Federal Reserve Bank of Dallas is building the case for a change in the interest rate the central bank targets to achieve its monetary policy goals.
Financial stocks were lower late Tuesday afternoon, with the NYSE Financial Index shedding 0.6% and the State Street Financial Select Sector SPDR ETF down 0.5%. The Philadelphia Housing Index was falling 1.3%, and the State Street Real Estate Select Sector SPDR ETF was down 0.7%. Bitcoin was increasing 1.2% to $87,477, and the yield for 10-year US Treasuries fell 3 basis points to 4.15%. In cor...
* Dallas Fed warns federal funds rate losing its potency. * Tri-party general collateral rate works better to transmit monetary policy. * Dallas Fed paper comes as bank leader Logan argues for reform. By Michael S. Derby. New research from the Federal Reserve Bank of Dallas is building the case for a change in the interest rate the central bank targets to achieve its monetary policy goals.
Bitcoin is up 1% on Tuesday after weaker U.S. unemployment data revived expectations of the Federal Reserve delivering another rate cut in January. Notable Statistics: Notable Developments: Trader Notes: Crypto technical analyst Kevin said Bitcoin is behaving as expected in the late stages of a major correction.
Further interest rate cuts could put U.S. monetary policy on an accommodative footing that stimulates economic growth and puts the country at risk of a new jump in inflation and inflation expectations, Atlanta Federal Reserve President Raphael Bostic said on Tuesday.
* * Economists expected 50,000 jobs, actual increase was 64,000. * Fed unlikely to cut rates soon, awaits job market clarity. By Karen Brettell. U.S. Treasury yields fell on Tuesday after data showed an unexpected increase in the unemployment rate last month, though analysts also noted that the data is less reliable than usual due to government shutdown-related distortions.
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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