JPMorgan Chase (JPM) has moved nearly $350 billion out of its Federal Reserve account since 2023 to increase its holdings of US Treasuries, the Financial Times reported Wednesday, citing data compiled by industry data tracker BankRegData. The bank reduced its Fed balance from $409 billion at the end of last year to $63 billion by Q3, the report added.
The U.S. Federal Reserve has told Citigroup (C/PN) it has closed formal notices requiring the bank to fix trading risk management weaknesses, according to people with knowledge of the matter, a significant step in improving oversight and control deficiencies that have bogged down the third-largest U.S. bank.
* Waller supports central bank independence despite Trump's views. * Says he is open to limited president-Fed chief interactions. * Waller favored by business leaders to succeed Powell next year. By Michael S. Derby.
Fed Governor Christopher Waller said that the FOMC should continue to lower its policy rate at a "moderate" pace due to the soft labor market, adding that he is not concerned about a reacceleration of inflation and that tariffs are likely to have a one-time effect on price levels and not provide ongoing upward pressure.
A looming government shutdown marks an uncertain future for the country as economists and muni leaders point to the positive effects of stubborn inflation on state tax revenues.
Financial stocks edged higher in Wednesday afternoon trading, with the NYSE Financial Index fractionally higher and the State Street Financial Select Sector SPDR ETF increasing 0.1%. The Philadelphia Housing Index was falling 1.6%, and the State Street Real Estate Select Sector SPDR ETF rose 0.2%. Bitcoin was dropping 1.5% to $86,568, and the yield for 10-year US Treasuries was rising 1 basis p...
US equity indexes declined, led by the Nasdaq Composite, amid a jump in volatility and gains in government bond yields in midday trading on Wednesday. The Nasdaq dropped 1.1% to 22,863.2, with the S&P 500 down 0.7% to 6,751.9 and the Dow Jones Industrial Average 0.2% lower at 48,037.1. Technology, communication services, and industrials led the decliners, while energy emerged as the top gainer.
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Ratings to ?a-? from ?bbb+? of the two main operating subsidiaries of Nagico Holdings Limited, National General Insurance Corporation N.V. and Nagico Insurance Company Limited (collectively referred to as.
Deutsche Bank said it expects Mexico's central bank to deliver a "hawkish cut" featuring a 25 basis point reduction of the policy rate to 7% on Thursday, along with a revamped forward guidance aimed at sending an unequivocal signal of a pause in the normalization process.
* FTSE 100 up 0.9%; FTSE 250 up 0.56% * UK inflation falls to 3.2%, boosting rate cut bets. * FTSE 100 on track for best year since 2009. * Homebuilders lead gains, Banks follow. UK stocks closed higher on Wednesday, led by gains in home builders and bank shares, as lower-than-expected domestic inflation reinforced expectations that the Bank of England will cut interest rates.
Morgan Stanley said it expects the European Central Bank to be on hold on Thursday. The focus will be on the updated projections and communication around it. Morgan Stanley sees a 5-to-4 vote for a 25bps rate cut to 3.75% at the Bank of England on Thursday, and unchanged messaging.
The drop in the United Kingdom consumer price index inflation, from 3.6% year over year in October to 3.2% year over year in November, was larger than any forecaster anticipated, said Berenberg after Wednesday's data. If not reversed, the decline in goods prices in November would put inflation on course to fall below the Bank of England's 2.0% target next summer, noted Berenberg.
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of ?a-? of Guaranty Income Life Insurance Company and United Life Insurance Company, collectively, referred to as Kuvare Retail Group. Lastly, AM Best has affirmed the FSR of B++ and the Long-Term ICR of ?bbb? of Lincoln Benefit Life Company.
Federal Reserve Governor Christopher Waller, on the short list to succeed Fed Chair Jerome Powell next year and scheduled to be interviewed for the job by President Donald Trump on Wednesday, said he would "absolutely" defend the U.S. central bank's independence if it were challenged.
* Waller supports central bank independence despite Trump's views. * Says he is open to limited president-Fed chief interactions. * Waller favored by business leaders to succeed Powell next year. By Michael S. Derby.
Newfoundland and Labrador's budget deficit for fiscal year 2025-26 has been revised to $948 million, or 2.2% of nominal gross domestic product, which is larger than the $372 million deficit, or 0.9%of GDP, planned in Budget 2025 in the first fiscal update by the new Progressive Conservative government, said Scotiabank.
The U.S. Justice Department has called on Federal Reserve Chair Jerome Powell to clarify whether the central bank has stopped losing money, which President Donald Trump's administration has said prevents it from funding the sole federal watchdog for consumer financial protection, according to court records.
Federal Reserve Gov. Christopher Waller said monetary policy must remain insulated from political pressure, arguing that communication with the White House should be limited. Waller is slated to meet with President Trump Wednesday afternoon.
Any concern about Kevin Hassett potentially leading the Federal Reserve is "absurd," U.S. Treasury Secretary Scott Bessent said on Wednesday, adding that the White House economic adviser and others under consideration would all be good choices.
The U.S. Justice Department has called on Federal Reserve Chair Jerome Powell to clarify whether the central bank has stopped losing money, which President Donald Trump's administration has said prevents it from funding the sole federal watchdog for consumer financial protection, according to court records. FED RETURNING TO PROFITABILITY?
Greystone, a leading national commercial real estate finance company, has provided a $36,595,000 Freddie Mac loan to refinance a 476-unit garden-style multifamily community located in Houston, Texas. Originally developed in 1966, the property offers renovated apartments and townhomes with one-, two- and three-bedroom layouts.
Georgia's central bank Wednesday said its Monetary Policy Committee decided to keep the monetary policy rate -- refinancing rate-- unchanged at 8.0%. Under the central scenario, inflation is projected to average 4% this year, while from Q2 2026 it's expected to converge toward the target, averaging 3.5% on an annual basis, wrote NBG in its policy statement.
TORONTO, Dec. 17, 2025 Mattamy Group Corporation, North America's largest family-owned homebuilder, today announced the completion of its offering of US$475 million and CAD$350 million aggregate principal amount of senior unsecured notes.
Equity Insider News Commentary ? Gold extended its historic 2025 rally to trade above $4,300 per ounce on December 16, marking the metal's strongest annual performance in decades with gains exceeding 60% year-to-date[1]. Central banks ramped up gold purchases by 28% in the third quarter alone, adding 634 tonnes year-to-date as emerging markets accelerate diversification away from dollar reserve...
* ECB expected to hold rates on Thursday, BoE cut fully priced. * Yen weakens as BOJ expected to raise rates on Friday. * Dollar index gains, euro edges lower. By Chibuike Oguh and Joice Alves.
India's parliament on Wednesday approved a bill to raise foreign direct investment in the insurance sector to 100% from 74%, a move that will help insure more people in the world's most populous country. The increase in the FDI limit could boost investments and improve insurance penetration in the country, which stood at 3.8% of GDP in 2024, according to research firm Swiss Re Institute.
* Waller sees room for rate cuts amid job market weakness. * Fed's recent rate cut aimed to balance job risks, high inflation. * Waller emphasizes labor market focus over inflation concerns. By Michael S. Derby. Federal Reserve Governor Christopher Waller said on Wednesday the U.S. central bank still has room to cut interest rates amid rising job market weakness.
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.
The U.S. economy is expected to remain resilient in 2026 despite a moderation in growth, according to the 2026 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation. Real equipment and software investment is projected to rise 6.2% in 2026, easing from 2025?s standout pace but still strong by historical standards.
US stocks look set to open higher in Wednesday's trading session as investors parse Tuesday's mixed jobs reports, and look ahead to the inflation reading for November on Thursday.
Federal Reserve Governor Christopher Waller said on Wednesday the U.S. central bank still has room to cut interest rates amid rising job market weakness. "I still think we're probably, you know, maybe we're 50 to 100 basis points off of neutral," which means the Fed still has room to cut interest rates if it needs to, Waller said at the Yale School of Management CEO Summit in New York.
The Federal Open Market Committee should continue to lower its policy rate at a "moderate" pace due to expectations of further labor market weakness, Federal Reserve Governor Christopher Waller said Wednesday in an interview with CNBC.
* 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 remains murky. By Joice Alves. LONDON, Dec 17 - Sterling slid on Wednesday after British inflation unexpectedly fell sharply, a day before the Bank of England is widely expected to cut interest rates.
U.S. corporate finance chiefs continue to cite tariffs as a top concern and on average see prices rising more than 4% next year, according to a survey released on Wednesday that may add to Federal Reserve concerns that current price pressures will keep it from reaching its 2% inflation target anytime soon.
The main US stock measures were tracking in the green in Wednesday's premarket activity as traders digest last month's jobs report, which showed the unemployment rate rose to a four-year high.
Chile's gross domestic product is expected to grow 2.4% this year, the local central bank said on Wednesday, compared to a prior forecast of between 2.25% to 2.75%. The bank raised its estimate for economic growth next year to 2% to 3%, from a prior range of 1.75% to 2.75%.
If there was any doubt about a rate cut at the Bank of England's Monetary Policy Committee meeting this week, then those doubts are surely gone now after Wednesday's consumer price index figures for November revealed a much weaker-than-expected set of data, said MUFG.
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.
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