The US economy grew at a "slight to moderate" pace in seven of the 12 Federal Reserve districts since the last Beige Book, while the remaining districts reported flat or declining activity, the Fed said Wednesday. Consumer spending edged higher in most districts, though two reported further declines.
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of Insurance Corporation of Barbados Limited.
U.S. economic activity rose a bit, prices continued to increase and employment levels were stable in recent weeks, the Federal Reserve said on Wednesday in a report that also captured the upheaval to businesses and workers in Minnesota from the Trump administration's immigration crackdown.
* Senator Tillis opposes Fed nomination amid DOJ probe of Powell. * Economic data and Iran conflict complicate rate cut ambitions. * Trump has long sought rate cuts, criticized Fed chair Powell. By Ann Saphir.
The Bank of Canada on Wednesday said it will join the Canadian Collateral Management Service tri-party platform for its domestic repo operations by early 2027. This reaffirms its commitment to resilient and well-functioning repo markets, wrote the bank in a statement.
Two surveys showed Wednesday a mixed picture of the US services sector, with the Institute for Supply Management reporting the fastest growth rate in activity since mid-2022, while S&P Global (SPGI) saw a slowdown. The ISM's purchasing managers' index rose to 56.1 last month, the highest reading since July 2022, from 53.8 in January.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF adding 0.6%. The Philadelphia Housing Index was shedding 0.3%, and the State Street Real Estate Select Sector SPDR ETF was down 0.4%. Bitcoin climbed past 7% to $73,134, and the yield for 10-year US Treasuries was rising 2.2 basis points...
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF adding 0.5%. The Philadelphia Housing Index was shedding 0.3%, and the State Street Real Estate Select Sector SPDR ETF was down 0.4%. Bitcoin climbed past 7% to $73,134, and the yield for 10-year US Treasuries was rising 2.2 basis points...
President Donald Trump officially nominated Kevin Warsh to be the next chairman of the Federal Reserve, sending his name to the Senate, The White House said Wednesday. Warsh was also nominated for a seat on the board of the Fed. MT Newswires does not provide investment advice.
Greystone, a leading national commercial real estate finance company, announced it has provided a $16,500,000 Fannie Mae loan to refinance a 92-unit multifamily community in Plainville, Connecticut.
Hercules Capital, Inc. (HTGC), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that Morningstar DBRS has affirmed Hercules? investment grade corporate and credit rating of BBB.
President Donald Trump on Wednesday sent the U.S. Senate his nomination of former Federal Reserve governor Kevin Warsh to be the U.S. central bank's next chair, according to a notice on the White House website.?.
AM Best has assigned a Financial Strength Rating of B and a Long-Term Issuer Credit Rating of ?bb+? to Protect Insurance PCC Limited. The ratings reflect Protect?s consolidated balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, very limited business profile and marginal enterprise risk management.
* ISM nonmanufacturing index hits highest since July 2022. * ADP employment tops expectations. * Yields higher although crude prices ease. By Chuck Mikolajczak. U.S. Treasury yields advanced for a third straight session on Wednesday as investors gauged the likelihood of higher inflation and the path of monetary policy as the war in Iran puts upward pressure on oil prices.
JPMorgan Chase & Co (JPM). CEO Jamie Dimon said on Monday that crypto firms handling deposits should face bank-level regulation. One day later, Kraken became the first crypto company in U.S. history to secure a Federal Reserve master account.
As the next surface transportation reauthorization bill takes form in Congress, the transit sector is making a case for its slice of the pie and expanding the use of private activity bonds.
Inflation and other risks from the U.S. military conflict with Iran haven't changed the need for the U.S. Federal Reserve to keep cutting interest rates this year, with price pressures expected to ease and the job market still at risk, Fed Governor Stephen Miran said on Bloomberg TV on Wednesday.
The Institute for Supply Management's US services index rose to a reading of 56.1 in February from 53.8 in January, compared with expectations for a decrease to a reading of 53.5 in a survey compiled by Bloomberg. The ISM's reading follows mixed readings in other services readings already released for the month.
The Canadian economy is still dealing with the burden of United States tariffs, but the impact is uneven across the country, and conditions are beginning to drift apart, said Bank of Montreal. The bank is forecasting 1.3% real gross domestic product growth this year, down slightly from 1.7% in 2025.
Canada's services economy contracted for a fourth straight month in February as an uncertain trading environment contributed to declines in activity and new business, S&P Global's Canada services PMI data showed on Wednesday. The headline Business Activity Index edged up to 46.5 last month from 45.8 in January but remained below the 50 no-change mark.
Aptiv (APTV) said Wednesday its electrical distribution systems spin-off units began a private offering of $1.5 billion in senior notes due 2031 and 2034.
Bank of Canada Governor Tiff Macklem speaks on 'financial stability risks and vulnerabilities' at 10:20 a.m. ET on Wednesday and there will be an audience question-and-answer session, with a fireside chat but no press, said Scotiabank.
* ISM non-manufacturing PMI hits highest level since July 2022. * Middle East conflict raises oil prices, risks economic outlook. * Private payrolls increase by 63,000 in February. By Lucia Mutikani.
Sallie Mae?, formally SLM Corporation (SLM), today announced Chief Executive Officer Jon Witter will speak at the 2026 RBC Capital Markets Global Financial Institutions Conference on Wednesday, March 11, at 4:40 p.m. ET. A live audio webcast and replay will be available at SallieMae.com/investors. Sallie Mae believes education and life-long learning, in all forms, help people achieve great things.
Aptiv PLC (APTV), a global industrial technology company focused on enabling a more automated, electrified, and digitalized future, today announced the commencement of a private offering of $1.5 billion aggregate principal amount of senior notes due 2031 and senior notes due 2034 by its subsidiaries, Cyprium Corporation and Cyprium Holdings Luxembourg S.? r.l.. The Co-Issuers are subsidiaries of Versi...
ADP's monthly measure of private payrolls showed a 63,000 increase in February, higher than expectations compiled by Bloomberg for an increase of 50,000. The February increase followed a downwardly revised 11,000-jobs gain in January. By sector, goods-producing jobs rose by 16,000, while service-providing jobs were up 47,000, with education and health services jobs up 58,000.
U.S. private payrolls increased more than expected in February, though data for the prior month was revised sharply lower, the ADP's national employment report showed on Wednesday. Private employment rose by 63,000 jobs last month after a downwardly revised 11,000 increase in January.
ROSELAND, N.J., March 4, 2026 Private sector employment increased by 63,000 jobs in February and pay was up 4.5 percent year-over-year according to the February ADP National Employment Report? produced by ADP Research in collaboration with the Stanford Digital Economy Lab.
Existing home sales rose 1.8% year over year amid improved affordability SEATTLE, March 4, 2026 Home values rose for the first time in seven months and existing home sales improved from a year ago, according to the Zillow? February?Market Report. The housing market is perking up as spring approaches, possibly foreshadowing a more active year for transactions after three low-volume years.
The US dollar fell against its major trading partners early Wednesday ahead of the release of ADP private payrolls data for February at 8:15 am ET, followed by services conditions data for February from S&P Global at 9:45 am ET and from the Institute for Supply Management at 10:00 am ET.
ST. LOUIS, March 2, 2026 Post Holdings, Inc. (POST) today announced it intends to commence a private offering to eligible purchasers, subject to market and other conditions, of $500.0 million in aggregate principal amount of the Company's 6.250% senior notes due 2034.
The main US stock measures were pointing higher in Wednesday's premarket activity as traders monitor developments in the ongoing Middle East conflict and await the latest ADP Employment report. The S&P 500 rose 0.2%, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.3% before the opening bell. The US, Israel and Iran conflict entered its fifth day on Wednesday.
Cryptocurrency exchange Kraken's banking unit has gained access to the Federal Reserve's payments system through a limited-purpose account, the first U.S. digital-asset bank to do so as the sector deepens its reach into mainstream finance.
Cryptocurrency exchange Kraken's banking unit has gained access to the Federal Reserve's payments system through a limited-purpose account, the first U.S. digital-asset bank to do so as the sector deepens its reach into mainstream finance.
* FEDERAL RESERVE BANK OF KANSAS CITY: APPROVED LIMITED PURPOSE ACCOUNT FOR PAYWARD FINANCIAL, DBA KRAKEN FINANCIAL. * FEDERAL RESERVE BANK OF KANSAS CITY: KRAKEN FINANCIAL IS CHARTERED AS A STATE OF WYOMING SPECIAL PURPOSE DEPOSITORY INSTITUTION.
* Bond markets face big stress test from Iran war, OECD says. * AI issuance to make corporate bond markets more 'equity-like' * AI infrastructure funding may pressure credit markets. By Yoruk Bahceli. Inflation is the major risk facing global bond markets, a senior OECD official told Reuters, as energy prices surge following the U.S.-Israeli air war against Iran.
Historic milestone enables direct access to the U.S. payments system, strengthening Kraken?s institutional offering Payward, a unified financial infrastructure platform powering Kraken, today announced that Kraken Financial, its Wyoming-chartered bank, has been granted a Federal Reserve master account.
Commerzbank in its "European Sunrise" note of Wednesday highlighted: -- Markets: United States Treasuries consolidate late Tuesday, yields edge higher in Asia early Wednesday. Fed: Minneapolis Federal Reserve President Neel Kashkari says that it is too soon to see the impact on inflation from the Iran war; he expected one cut in 2026, but now he is unsure.
Societe Generale in its early Wednesday economic news summary pointed out: -- Meltdown in Asian stocks: Kospi -12% on unwinding of long Artificisl Intelligence and semiconductor positions, USD/KRW spikes to 1,507.55. India's rupee plumbs a record low of 92.18/USD. -- Federal Reserve speaker: Kashkari no longer as confident about his previous outlook for a 25bps cut.
Federal Reserve Bank of Cleveland President Beth Hammack said it was too early to gauge the economic impact of the Iran war and backed holding interest rates steady for "quite some time", in an interview with the New York Times published on Wednesday.
Federal Reserve Bank of Cleveland President Beth Hammack said it was too early to gauge the economic impact of the Iran war and backed holding interest rates steady for "quite some time", in an interview with the New York Times published on Wednesday.
The U.S. dollar's bounceback since the start of the U.S.-Israel war with Iran may be short-lived due to lingering doubts about the safe-haven appeal of U.S. assets, according to FX strategists polled by Reuters who broadly still expect two Federal Reserve rate cuts later this year.
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.
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