The broad market exchange-traded fund SPDR S&P 500 ETF Trust was up 0.3% and the actively traded Invesco QQQ Trust advanced 0.4% in Wednesday's premarket activity, ahead of the release of the Federal Reserve's meeting minutes.
Genesis Energy, L.P. (GEL) today announced the commencement, subject to market and other conditions, of a registered, underwritten public offering of $500,000,000 in aggregate principal amount of senior notes due 2034. BofA Securities is leading the offering along with several joint book-running managers and co-managers.
* Gold rebounds from one-week low. * January FOMC minutes due at 1900 GMT. * December PCE data due on Friday. By Pablo Sinha. Gold prices rose more than 1% on Wednesday, rebounding ?from a one-week low hit in the previous ?session, as investors awaited the minutes of the U.S. Federal Reserve's January meeting due later in the ?day. Spot gold was up 1% at $4,927.19 per ounce by 1240 GMT.
Moody's forecast annual profit above estimates on Wednesday, betting on sustained demand for its credit ratings amid surging debt issuance. Shares of the company ?rose about 2% in premarket trading.
Canadian housing starts slipped more than 15% in January as tough winter weather posed a challenge, said Bank of Montreal. While the monthly series is "choppy," it's clear that housing starts remain historically elevated even as market activity for new and existing homes is subdued, noted the bank.
The US dollar rose against its major trading partners early Wednesday, except for a decline versus the pound, ahead of busy day of economic releases that starts with housing starts and durable goods orders data for December and the New York Federal Reserve's services reading for February, all at 8:30 am ET.
Canadian inflation readings have been somewhat "messy" for more than a year now, owing to a variety of tax changes -- notably the removal of the carbon tax in April 2025 and the GST holiday just over a year ago, said Bank of Montreal.
* Easing inflation strengthens case for BoE rate cut. * Services inflation remains above expectations. * Political pressure on PM Starmer could resurface next week. By Samuel Indyk. The pound was little changed against the dollar as easing British ?inflation strengthened the case for a near-term rate cut ?from the Bank of England, even as underlying price pressures remained strong.
The Canadian province of British Columbia is projecting a $13.3 billion deficit in FY26/27, or a "hefty" 2.9% of gross domestic product, said Bank of Montreal. The FY25/26 deficit was revised down to $9.6 billion, while still-large deficits persist through the forecast horizon, noted the bank.
Verizon Communications (VZ) is looking to sell euro and UK pound-denominated hybrid bonds, Bloomberg reported Wednesday, citing unnamed people familiar with the matter. The mobile communications operator is marketing the notes due 2056 and callable in 2032 at around 4.75% in euros and 6.25% in pounds, according to the report.
Federal Reserve policymakers were in near-unanimous agreement to keep interest rates on hold at their meeting last month, but remained split over their next steps, with "several" open to rate hikes if inflation remains elevated, others inclined to support further cuts if inflation recedes as they expect, and the full table grappling with the emerging implications of artificial intelligence for ...
* Fed on hold in January with risks to jobs and inflation seen diminished. * Path of inflation may be key to cuts this year. * Minutes to be released at 2 pm EST. By Howard Schneider.
* Bonds steady after report says Lagarde to leave ECB early. * Investors continue to expect ECB to hold rates this year. * Policy unlikely to shift but succession race heats up - analysts. By Yoruk Bahceli and Harry Robertson.
Howmet Aerospace (HWM) said late Tuesday it has priced its underwritten public offering of $1.2 billion in senior notes. The company said the offering includes $400 million of 3.75% notes due 2028, $300 million of 3.90% notes due 2029, and $500 million of 4.75% notes due 2036.
* Europe's STOXX 600 hits a record. * FT reports Lagarde may step down. * Russia-Ukraine talks continue. By Niket Nishant and Scott Murdoch. Global shares rose on Wednesday as investors took a breather following an artificial intelligence-driven selloff, while assessing a report that European Central Bank President Christine Lagarde plans to leave her role early.
* Kiwi falls as RBNZ holds rates, says policy to remain accommodative. * Fed minutes, geopolitics influence dollar strength. * Yen weakens as Japan set to begin US investments. By Samuel Indyk and Rocky Swift.
* Gold rebounds from one-week low. * January FOMC minutes due at 1900 GMT. * December PCE data due on Friday. By Pablo Sinha. Gold prices rose more than 1% from ?a one-week low the previous session as investors ?awaited the minutes of January's U.S. Federal Reserve meeting due later on Wednesday. Spot gold rose 0.8% ?to $4,915.90 per ounce by 0914 GMT, after gaining more than 1% earlier.
Euro zone bond yields held steady around multi-month lows on Wednesday as investors mulled a report that said European Central Bank President Christine Lagarde plans to leave ?the role early. Germany's 10-year bond yield was ?last flat at 2.743%, just above Monday's 2 1/2-month low of 2.725%. Yields move inversely ?to prices.
* Gold fell 2.3% on Tuesday; silver declined more than 5% * US-Iran reach understanding on "guiding principles" * January FOMC minutes due at 1900 GMT. By Pablo Sinha.
New Zealand's central bank chief played a straight bat at her inaugural policy meeting on Wednesday, with a focus on getting her messaging right and avoiding the missteps of her predecessor. Anna Breman, a 49-year-old Swedish national, became the Reserve Bank of New Zealand's first female governor in September last year, following a worldwide search in which 300 candidates were identified.
Japanese government bond yields edged up on Wednesday, as prospects for Japan's fiscal condition and the central bank's rate-hike path ?remained divided among investors. The 20-year JGB yield ?fell 0.5 basis point to 2.965%. The 30-year yield inched up ?0.5 bp to 3.390%. "The market view on Japan's fiscal ?condition is divided.
European Central Bank President Christine Lagarde plans to leave her job before next year's French presidential election to allow Emmanuel Macron to have an input into picking her successor, the Financial ?Times reported on Wednesday.
New Zealand's central bank chief played a straight bat at her inaugural policy meeting on Wednesday, with a focus on getting her messaging right and avoiding the missteps of her predecessor. Anna Breman, a 49-year-old Swedish national, became the Reserve Bank of New Zealand's first female governor in September last year, following a worldwide search in which 300 candidates were identified.
Emerging Asian currencies weakened on
Wednesday and equities moved narrowly in thin holiday-curbed
trade, with the rupiah under ?pressure a day ahead of Bank
Indonesia's policy meeting.
* Lagarde may leave ECB before French presidential election. * FT says Lagarde's early exit to aid Macron, Merz in finding successor. * Far right could win 2027 French presidential election. * ECB says Lagarde focused on her job. * Knot, de Cos, Nagel among potential successors.
European Central Bank President Christine Lagarde plans to leave her job early, ahead of next year's French presidential election, to give outgoing French leader Emmanuel Macron a say in picking her successor, the Financial Times said on Wednesday.
Christine Lagarde ?is expected ?to leave ?the European ?Central Bank ?before ?the end ?of ?her eight-year term as ?president, ?the ?Financial Times reported on ?Wednesday, citing a ?person familiar with ?her ?thinking. Reuters ?could ?not immediately verify the report.
* Japanese, Australian equities rise with many markets closed for holidays. * Iran signals progress in talks with US, allaying supply disruption worries. * NZ dollar slides after central bank says rates to stay low 'for some time' By Scott Murdoch.
Asian stocks pushed higher on Wednesday despite the renewed artificial intelligence worries gripping international markets, while oil prices were under pressure after Iran touted progress in nuclear negotiations with the United States. The New Zealand dollar sank after the central bank said monetary policy needs to remain accommodative for some time to support the economic ?recovery.
* Japanese, Australian equities rise with many markets closed for holidays Iran signals progress in talks with US, allaying supply disruption worries. * NZ dollar slides after central bank says rates to stay low 'for some time' By Scott Murdoch.
* Iran-US nuclear talks show progress, easing Middle East tensions. * RBNZ holds rates, signals accommodative policy to support recovery. * Japanese exports rise for fifth month. By Rocky Swift. TOKYO, Feb 18 - The dollar held its ground on Wednesday as geopolitical risks kept markets on edge and investors awaited minutes from the Federal Reserve for signals on future rate cuts.
* RBNZ holds rates at 2.25%, sees easy policy for some time. * Economic recovery still fragile, job market weak. * Kiwi falls as markets pared back bets for a rate hike in October. By Stella Qiu.
New Zealand's central bank held its ?interest rates steady at ?2.25% on Wednesday, ?as widely expected, adding that ?the monetary policy ?stance ?needs to remain accommodative for some ?time ?to support the economic recovery.
The euro stumbled on Wednesday after a report that European Central Bank President Christine Lagarde planned to step down early, while the dollar strengthened further following a batch of economic data and the minutes from the Federal Reserve's January meeting.
The dollar held its ground on Wednesday as geopolitical risks kept markets on edge and investors awaited minutes from the Federal Reserve for signals on future rate cuts.
* BOJ should keep raising rates so they reach neutral in 2027. * IMF warns against near-term, further fiscal loosening. * Consumption tax cut would erode capacity to respond to shocks. * BOJ must intervene if volatility reduces bond market liquidity. By Leika Kihara.
The International Monetary Fund urged Japan to keep raising interest rates and avoid loosening fiscal policy further, warning that trimming the consumption tax would erode its capacity to respond to future economic shocks.
The International Monetary Fund urged Japan to keep raising interest rates and avoid loosening fiscal policy further, warning that trimming the consumption tax would erode its capacity to respond to future economic shocks.
* BOJ should keep raising rates so they reach neutral in 2027. * IMF warns against near-term, further fiscal loosening. * Consumption tax cut would erode capacity to respond to shocks. * BOJ must intervene if volatility reduces bond market liquidity. By Leika Kihara.
Camden Property Trust (CPT) today announced it has priced a $600 million offering of senior unsecured notes under its existing shelf registration. BofA Securities, Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC are Joint Book-Running Managers.
Federal Reserve Bank of San Francisco President Mary Daly on Tuesday said that what had been ?widespread uncertainty last year about ?the strength of demand has given way to cautious ?optimism among the business leaders she talks ?with.
Financial stocks were advancing in late Tuesday afternoon trading, with the NYSE Financial Index increasing 0.7% and the State Street Financial Select Sector SPDR ETF adding 1%. The Philadelphia Housing Index was falling 1.6%, and the State Street Real Estate Select Sector SPDR ETF was up 1%. Bitcoin was declining 1.1% to $67,710, and the yield for 10-year US Treasuries was slightly higher at 4...
* RBNZ expected to hold rates at 2.25%, all eyes on OCR track. * Breman faces balancing act as inflation pops outside of band. * Economic recovery still fragile, job market weak. By Stella Qiu.
Financial stocks were advancing in late Tuesday afternoon trading, with the NYSE Financial Index increasing 0.8% and the State Street Financial Select Sector SPDR ETF adding 1.1%. The Philadelphia Housing Index was falling 1.5%, and the State Street Real Estate Select Sector SPDR ETF was up 1%. Bitcoin was declining 1.5% to $67,856, and the yield for 10-year US Treasuries was slightly lower at ...
San Francisco Federal Reserve President Mary Daly on Tuesday ?said the U.S. ?central bank still needs to ?get inflation down, and ?that while artificial intelligence ?potentially ?helps in that regard, the ?Fed's modestly or ?slightly restrictive policy is also important to ?making that ?happen.
* * Traders expect Fed rate cuts amid improving inflation data. * Geopolitical risks include US-Iran nuclear talks. By Karen Brettell. U.S. Treasury yields rose from multi-month lows on Tuesday as traders evaluated likely Federal Reserve policy, with no other major catalysts to drive market ?direction.
"This matter involves unregistered municipal advisory activity by Ford Research and its president, founder, owner, and sole employee Ford," the SEC's order 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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