FVCBankcorp, Inc. (FVCB) today announced the completion of its private placement of $25 million of its 6.75% Fixed Rate Senior Unsecured Notes due March 1, 2029 to certain qualified institutional buyers and accredited investors. ?We are extremely pleased with the success of this transaction,? said David W. Pijor, Chairman and CEO of the Company.
US equity indexes traded mixed ahead of Wednesday's close as investors looked at details of a strong jobs report. The S&P 500 rose 0.1% to 6,950.1, the Nasdaq Composite fell 0.1% to 23,079.3, and the Dow Jones Industrial Average was little changed at 50,156.4. Communication services, consumer discretionary, and financials declined.
Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.8% and the State Street Financial Select Sector SPDR ETF falling 1.4%. The Philadelphia Housing Index was down 0.5%, and the State Street Real Estate Select Sector SPDR ETF eased 0.1%. Bitcoin was falling 2.2% to $67,285, and the yield for 10-year US Treasuries rose 2.5 basis points to 4.17...
Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.8% and the State Street Financial Select Sector SPDR ETF falling 1.4%. The Philadelphia Housing Index was down 0.5%, and the State Street Real Estate Select Sector SPDR ETF eased 0.1%. Bitcoin was falling 2.2% to $67,285, and the yield for 10-year US Treasuries rose 2.5 basis points to 4.17...
Most Latin American currencies and
stocks were broadly higher on Wednesday ?as investors digested a
hot U.S. jobs report and pushed back expectations ?for a Federal
Reserve rate cut.
The price drops follow a lawsuit filed Friday by bondholders alleging the mall's owners colluded with the city of East Rutherford to lower the property assessment.
* Canadian dollar weakens 0.1% against the greenback. * Trades in a range of 1.3505 to 1.3618. * Price of oil settles 1.05% higher. * Canada-U.S. 10-year spread widens by 5.5 basis points. By Fergal Smith.
Brazil's federal audit court TCU has completed a technical review of the central bank's handling of Banco Master's liquidation and found no reservations or recommendations regarding the regulator's conduct, a source familiar with ?the matter said.
The Federal Reserve plans to review issues its examiners had previously flagged for banks to address, as the U.S. central bank overhauls its oversight of ?the nation's financial institutions, according to ?a memo sent to staff and seen by Reuters.
"Conflicting" economic data and "uncertainty" surrounding CUSMA, a free trade agreement between Canada, the United States, and Mexico, have translated into an "extremely clouded" outlook for interest rates, and as a result, the latest Summary of Deliberations from Bank of Canada made clear that its Governing Council wants to "maintain optionality" in setting monetary policy, noted Royce Mendes ...
The Federal Reserve plans to review issues its examiners had previously flagged for banks to address, as the U.S. ?central bank overhauls its oversight of ?the nation's financial institutions, according to a memo sent to staff and seen by Reuters.
The National Association of Realtors' measure of US existing-home sales is expected to slow to a 4.15 million annual rate in January, based on a survey compiled by Bloomberg, after rising by 5.1% to a 4.35 million rate in December. Existing-home sales were at a 4.09 million rate in January 2025, so the year-over-year change would still be positive.
The January employment report was stronger than expected, with payrolls growth faster than expected, the unemployment rate down, and hourly earnings growth accelerated, but there were some negatives under the main figures. Nonfarm payrolls rose by 130,000 in January after a 48,000 gain in December and a 41,000 increase in November, both revised lower from their previous estimates.
US benchmark equity indexes were mixed intraday as traders assessed the latest jobs report, which helped strengthen the odds of the Federal Reserve holding its monetary policy steady. The Dow Jones Industrial Average was down 0.3% at 50,049.8 after midday Wednesday after closing at a new all-time high in the previous session.
Gold trader higher midafternoon Wednesday, firming above the US$5,000 mark even as treasury yields climbed after the United States reported it added more new jobs than expected in January. Gold for March delivery was last seen up US$69.30 to US$5,100.30 per ounce.
Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index shedding 0.9% and the State Street Financial Select Sector SPDR ETF falling 1.5%. The Philadelphia Housing Index was down 0.8%, and the State Street Real Estate Select Sector SPDR ETF was up 0.2%. Bitcoin was falling 2.6% to $67,078, and the yield for 10-year US Treasuries rose 2.7 basis points to 4.17%. I...
The Federal Reserve's supervision staff told banks earlier this month that examiners will review previously sent private warnings to lenders to fix deficiencies and that some could be abandoned, Bloomberg reported Wednesday, citing people familiar with the matter.
* US job growth accelerates in January. * US unemployment rate falls to 4.3% * US dollar edges down to near two-week lows. * US 10-year Treasury bond yields fall to near one-month low. By ?Anmol Choubey.
The Bank of Canada's Governing Council members said threats to the independence of the U.S. Federal Reserve had added to the turbulence and uncertainty in the world, according to the summary of deliberations ?at their January meeting released on Wednesday.
The Federal Reserve's monetary policy should remain "somewhat restrictive" to cool inflation, Kansas City Fed President Jeffrey Schmid said Wednesday, as he cautioned against cutting interest rates further. The US economy entered 2026 with "solid" consumer demand amid an artificial intelligence buildout, according to Schmid.
The US Federal ?Reserve has signaled to ?lenders it ?plans to ?drop some ?of ?the confidential warnings ?it previously ?sent them to improve ?operations, ?Bloomberg ?News reported on Wednesday, citing people familiar ?with the ?matter. Reuters could not immediately ?verify ?the report.
US equity indexes traded mixed after midday Wednesday as investors weighed seasonality against a strong jobs report that sent government bond yields higher.
Britain's government should think carefully before significantly expanding issuance of short-dated Treasury bills due to the extra refinancing risk, the head of the country's debt agency told a parliamentary committee ?on Wednesday.
* January jobs data supports Fed's decision to hold rates steady. * Traders trim bets on rate cuts, still see June as likely next Fed move. * Frozen job market in 2025 tied to lower immigration, rise in productivity growth. By Ann Saphir.
* Premium brands thrive as affluent consumers spend freely. * Value-focused firms face spending pullback from budget shoppers. * K-shaped recovery highlights income disparity in US consumer spending. By Shivansh Tiwary and Juveria Tabassum.
* US deficit-to-GDP ratio to average 6.1% over next decade, unusual for peacetime economy, CBO says. * CBO predicts 2026 economic growth at 2.2%, far lower than Trump administration. * Growth in interest costs from growing debt dwarfs discretionary spending cuts. By David Lawder and Richard Cowan.
? FY 25 sales of ?19,414.6m, boosted by organic growth and acquisitions. ? FY 25 current adjusted EBITA margin at 6.0% up +10bps versus the 5.9% reported in 2024, demonstrating market outperformance and margin resilience in a challenging environment ? FY 25 operating income stood at ?1,061.6m, including exceptional items.
With the Norwegian inflation figures for January, even those who still had doubts despite the recent statements made by Norges Bank should now realize that interest rate cuts by Norway's central bank are off the table for the time being, said Commerzbank. This is because inflation rates rose to 3.6% and 3.4% year-on-year, wrote the bank in a note to clients.
Citigroup (C/PN) incoming Chief Financial Officer Gonzalo Luchetti said on Wednesday that he sees continued growth in the bank's credit card business, ?but warned that a proposed interest-rate cap would ?have "massive ripple effects" across the U.S. economy.
After cutting interest rates by three-quarters of a percentage point in 2025, Federal Reserve policymakers held the policy rate steady in January, citing a stabilizing job market and inflation that's stuck somewhat above the central bank's 2% target. Here is a look at Fed officials' recent comments, sorting them under ?the labels "dove" and "hawk" as shorthand for their monetary policy leanings.
Georgia's central bank Wednesday said its Monetary Policy Committee decided to keep the monetary policy rate unchanged at 8.0%. The overall price level in Georgia increased by 4.8% year-on-year in January.
AM Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Rating of ?a-? of Harrington Re Ltd.. AM Best also has affirmed the Long-Term ICR of ?bbb-? of Harrington Reinsurance Holdings Limited.
? FY 25 sales of ?19,414.6m, boosted by organic growth and acquisitions. ? FY 25 current adjusted EBITA margin at 6.0% up +10bps versus the 5.9% reported in 2024, demonstrating market outperformance and margin resilience in a challenging environment ? FY 25 operating income stood at ?1,061.6m, including exceptional items.
The U.S. economy added 130,000 jobs in January, nearly double the 70,000 economists expected and the strongest monthly gain in months. Expectations were rock bottom heading into the report. White House economic advisor Kevin Hassett had pre-emptively told CNBC not to ?panic? and to expect ?slightly smaller job numbers.
With inflation in Switzerland declining sharply, the Swiss central bank cut its policy rate from 0.5% to 0% in the first half of 2025, said UBS. In the second half, it remained unchanged, noted the bank. The SNB stated last July that the threshold for reducing rates into negative territory was high, pointed out UBS.
U.S. job growth unexpectedly accelerated in January and the unemployment rate fell to 4.3%, signs of labor market stability that could give the Federal Reserve room to keep interest rates unchanged for some time while policymakers monitor inflation.
AM Best has affirmed the Long-Term Issuer Credit Rating of ?bbb? of ACMAT Corporation [OTC Market: ACMT]. Concurrently, AM Best has affirmed the Financial Strength Rating of A and the Long-Term ICR of ?a? of ACMAT?s wholly owned subsidiary, ACSTAR Insurance Company.
European Central Bank President Christine Lagarde called on EU leaders on Wednesday to take urgent action in critical areas, including potentially divisive joint debt issuance, ?to make the bloc more resilient ?in turbulent times, a source told Reuters.
The US economy added more jobs than projected in January, while the unemployment rate slipped, delayed official data showed Wednesday. Total nonfarm payrolls rose by 130,000 last month, the Bureau of Labor Statistics said, double the 65,000 increase expected in a Bloomberg-compiled survey.
* Indexes up: Dow 0.41%, S&P 500 0.54%, Nasdaq 0.55% * US job growth accelerates in January, unemployment falls. * Moderna (MRNA) down after FDA declines to review new flu vaccine. * Robinhood slumps after Q4 revenue misses expectations. By Twesha Dikshit and Purvi Agarwal.
The U.S. central bank needs to keep tight monetary policy in place for now amid continued strong economic growth, Kansas City Federal Reserve President Jeffrey Schmid said on Wednesday, cautioning that it was too early ?to bank on rising productivity as a remedy for ?still-elevated inflation.
Zambia's central bank Wednesday said its Monetary Policy Committee decided to reduce the Monetary Policy Rate by 75 basis points to 13.5%. The MPC took into account the further decline in inflation in Q4 2025, the projected faster fall of inflation into the 6%-8% target band than was forecast in November 2025, and the need to maintain an appropriate monetary policy stance, noted BoZ.
* Labor market report exceeds expectations, dampening Fed rate cut hopes. * Unemployment rate drops to 4.3%, nonfarm payrolls rise by 130,000. * Fed rate cut expectations for March drop to 6% after jobs data. By Chuck Mikolajczak.
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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