Payden & Rygel has released its 2026 unconstrained bond market outlook, ?2026: A Tale of Two Cities ? Investing Across a Bifurcated Global Economy,? arguing that concentrated growth, uneven household finances, and diverging emerging?market trajectories are creating a more fragmented opportunity set for fixed income investors.
Weekly applications for unemployment insurance in the US dropped, while continuing claims reached the lowest level since September 2024, government data showed Thursday. For the week through Jan. 24, the seasonally adjusted number of initial claims decreased by 1,000 to 209,000 from the previous week's average that was revised upwards by 10,000, the Department of Labor said.
The widening of Canada's merchandise trade deficit in November was entirely due to a decline in exports, particularly of metal and non-metallic mineral products, said National Bank of Canada.
The European stock markets were mixed in Thursday trading as The Stoxx Europe was off 0.2%, Germany's DAX tumbled 2.1%, the FTSE 100 gained 0.2%, France's CAC was up 0.1%, and the Swiss Market Index rose 1%. The Economic Sentiment Indicator, released by the European Commission, increased 1.9 points to 99.2 in the European Union, and 2.2 points to 99.4 in the euro area in January from December.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.10%. ?Mortgage rates remain near their lowest levels in three years, which is encouraging for potential homebuyers who have waited to enter the market for some time,? said Sam Khater, Freddie Mac?s Chief Economist.
The Bank of Canada held rates at at 2.25% at Wednesday's meeting, with the statement maintaining directionality in the next move and this was emphasized by Governor Tiff Macklem too, said UBS. Updated projections were little changed and uncertainty reigns, wrote the bank in a note to clients.
Canada's merchandise trade deficit widened to $2.2 billion in November from a revised $400 million in October, said Bank of Montreal. Exports fell 2.8% month over month as gold shipments reversed following two months of strength, although they are still up almost 40% year-to-date.
Wednesday was policy rate decision day in Canada with the central bank meeting, said National Bank of Canada. The Bank of Canada decision to hold was announced alongside a fresh Monetary Policy Report, offering an updated assessment of economic conditions, including inflation. In recent years, the bank noted it has criticized the BoC's treatment of underlying inflation.
Canada's international trade deficit widened to $2.2 billion in November from $400 million in the prior month, as exports dropped off, said CIBC after Thursday's data. The result was worse than the consensus expectation for a $700 million shortfall, noted the bank.
Canadian housing starts are trending at about 260,000 annualized units, close to post-war highs, said TD. However, in per capita terms, recent homebuilding activity is cast in a more moderate light, while the housing supply gap remains large at an estimated 400,000 units, wrote the bank in a note to clients.
Canada's trade deficit widened substantially from $395 million in October to $2.2 billion in November, said TD after Thursday's data. Exports in November pulled back 2.8% month over month. Otherwise, eight of 11 product categories registered a gain in October, with a 7.6% month-over-month increase in crude oil exports providing the largest lift.
Canada's international trade deficit widened to $2.2 billion in November, from $400 million in the prior month, as exports dropped off, coming in worse than the consensus expectation for a $0.7 billion shortfall, CIBC noted Thursday.
US equity futures were flat ahead of Thursday's opening bell as traders digested major earnings from the technology sector and Wednesday's Federal Reserve policy decision. Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.1% higher.
CVR Energy (CVI) said Thursday it has launched an offering of $1 billion in total principal amount of senior unsecured notes due 2031 and senior unsecured notes due 2034.
Canada's merchandise trade deficit with the world widened from $395 million in October to $2.2 billion in November as exports fell 2.8% month over month, while imports edged down 0.1% month over month, said the country's statistical agency on Thursday. The deficit was much wider than the $700 million consensus deficit provided by MUFG.
The US international trade deficit widened to $56.83 billion in November after narrowing to a $29.21 billion gap in October, compared with a $44.0 billion gap expected in a survey compiled by Bloomberg as of 7:30 am ET. Exports declined in the month, while imports rose.
US initial jobless claims declined to a level of 209,000 in the week ended Jan. 24 from an upwardly revised 210,000 level in the previous week, compared with expectations for a level of 205,000 in survey of analysts compiled by Bloomberg. The four-week moving average rose by 2,250 to 206,250 after falling by 1,250 to a level of 204,000 in the previous week.
US equity futures were little changed pre-bell Thursday as traders digested major earnings from the technology sector and Wednesday's Federal Reserve policy decision. Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.1% higher.
Universal Digital Intl Limited on Thursday launched USDU, the UAE?s first central bank-approved stablecoin that puts it in direct competition with Circle?s USDC . This make Universal Digital the first company registered by the Central Bank of the UAE to issue a Foreign Payment Token, The Block reported.
The governor, in the final year of his term, asked lawmakers to approve reforms that would fix the Virgin Islands Water and Power Authority's balance sheet.
United States manufacturing gross domestic product is almost 10% above its pre-COVID level, while the Canadian manufacturing GDP has yet to reach 2019 levels, said CIBC. The U.S. performance isn't only stronger but it's also much more capital-intensive, wrote the bank in a note to clients.
There was no surprise when the Bank of Canada held steady at a policy rate of 2.25% on Wednesday, said Rosenberg Research. In his post-meeting press conference on Wednesday, BoC Governor Tiff Macklem noted that geopolitical risks -- especially on trade -- appear to have rebounded in January, after being a bit quieter in the second half of 2025.
The US dollar rose against its major trading partners early Thursday, except for a decline versus the Canadian dollar, before a busy day of data releases, starting with weekly jobless claims, revised Q3 productivity and trade data for November, all at 8:30 am ET.
US equity markets were tracking in the green before the opening bell Thursday as traders digest the latest financial results of some of the biggest technology companies and Federal Reserve Chair Jerome Powell's post-policy meeting comments. The S&P 500 rose 0.2%, the Dow Jones Industrial Average increased 0.5% and the Nasdaq edged up 0.1% in premarket activity.
The Bank of Canada delivered a neutral hold in its first decision of 2026, as was broadly expected going in Wednesday's policy meeting, said RBC. There was nothing particularly compelling from Wednesday's meeting to warrant a change in probability assessments for the BoC going forward, noted the bank.
Girard Sharp LLP, a national investment and securities class action firm in,?announces an investigation into potential securities claims on behalf of Oracle Corporation investors who purchased senior notes or bonds issued on September 25, 2025.
The USDU stablecoin is issued by Universal Digital (LFGMF), a crypto firm regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
The stock market witnessed a mixed performance today as the?S&P 500?and the?Nasdaq?indices showed varied results. As investors await Fed Chair?Jerome Powell?s press conference, the market remains cautious amid political pressures on the central bank.
US equity indexes closed muted-to-slightly higher on Wednesday after bets for a monetary policy pause in March increased following the January meeting of the Federal Reserve. The Nasdaq Composite rose 0.2% to 23,857.45 and the S&P 500 was almost unchanged at 6,978.03, after hitting a fresh record of 7,002.28 intraday, according to data compiled by CNBC.
US equity markets closed mixed on Wednesday after the Federal Reserve kept its benchmark lending rate steady, while traders assessed Chair Jerome Powell's post-policy meeting comments. The Nasdaq Composite edged up 0.2% to 23,857.5, extending its winning streak to a sixth day. Most sectors ended in the red, led by real estate, while energy saw the biggest gain.
Federal Reserve Chair Jerome Powell is signaling patience, noting that the central bank remains "well positioned" as the labor market shows signs of stabilization.
After voters rejected a 2019 bond proposal, Michigan's Dearborn Public Schools is mulling a possible $500 million, $1 billion or $1.5 billion bond this year.
US equity indexes were mostly higher Wednesday after the Federal Reserve decided to keep its policy rate unchanged and ahead of big-tech quarterly results post-bell. * The Federal Open Market Committee kept the federal funds rate at 3.5% to 3.75% and made changes to its statement pointing to firmer economic growth, stable unemployment, and reduced concern about inflation.
Financial stocks were decreasing in Wednesday late afternoon trading, with the NYSE Financial Index shedding 0.6% and the State Street Financial Select Sector SPDR ETF down 0.2%. The Philadelphia Housing Index was fractionally higher, and the State Street Real Estate Select Sector SPDR ETF decreased 0.7%. Bitcoin was increasing 0.4% to $89,498, and the yield for 10-year US Treasuries rose 2.8 b...
Financial stocks were decreasing in Wednesday late afternoon trading, with the NYSE Financial Index shedding 0.6% and the State Street Financial Select Sector SPDR ETF down 0.2%. The Philadelphia Housing Index was fractionally higher, and the State Street Real Estate Select Sector SPDR ETF decreased 0.7%. Bitcoin was increasing 0.4% to $89,498, and the yield for 10-year US Treasuries rose 2.8 b...
The U.S. economy is entering 2026 on solid footing, supported by data that are increasingly shaking off the effects of the federal government shutdown, Federal Reserve Chair Jerome Powell said Wednesday at a press conference.
The rail tunnel connecting New York and New Jersey is well underway, but the project can't continue without federal funds the adminstration has choked off.
The Federal Reserve left its benchmark lending rate unchanged Wednesday, saying there have been "some signs of stabilization" in the unemployment rate. The central bank's Federal Open Market Committee held interest rates steady in a range of 3.50% to 3.75%, in line with Wall Street's expectations.
The Federal Open Market Committee maintained the federal funds rate target at 3.5% to 3.75% and made only modest adjustments to its statement on Wednesday, which largely kept the same message as in December. There were dissents from Fed Governors Stephen Miran and Christopher Waller, who preferred a 25-basis point rate reduction.
The Federal Reserve kept the federal funds rate unchanged at 3.5%?3.75% on Wednesday, putting its easing cycle on hold after three rate cuts last year that brought borrowing costs to their lowest since 2022.
MKS said Wednesday it is pricing its private offering of 1 billion euros aggregate principal amount of 4.250% senior notes due 2034. The offering is expected to close on Feb. 4, subject to customary closing conditions, the company said.
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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