Both the Federal Reserve Chairman and the Bank of Canada Governor are slated to host press conferences in the coming week, and when they are likely to be questioned on the inflation outlook for their respective nations, they might prefer to offer a terse "no comment", says Avery Shenfeld in his regular 'The Week Ahead' column published Friday.
"We're still seeing continued yield pressure out there from the market outlook investors have with the conflict in Iran," said Ajay Thomas, head of public finance at FHN Financial.
Financial stocks were mixed in late Friday afternoon trading, with the NYSE Financial Index down 0.4% and the State Street Financial Select Sector SPDR ETF adding 0.2%. The Philadelphia Housing Index was rising 0.6%, and the State Street Real Estate Select Sector SPDR ETF was advancing 0.3%. Bitcoin was increasing 1% to $71,206, and the yield for 10-year US Treasuries rose 1.2 basis points to n...
* Brent crude settles above $100 per barrel for the first time since August 2022. * Q4 GDP slashed in half, PCE inflation remains elevated, capital goods orders disappoint. * Meta drops following report of AI rollout postponement. * Adobe falls after CEO Shantanu Narayen to leave amid AI disruption worries. By Stephen Culp and Johann M Cherian.
A federal judge on Friday blocked subpoenas issued by the U.S. Justice Department as part of its criminal investigation into Federal Reserve Chair Jerome Powell's handling of renovations of historic buildings used by the central bank.
A combination of broad-based USD gains and Canada's weak February employment report caused USD/CAD to rally and test a key resistance trendline now at 1.3723 and resistance at 1.3728 today, according to RBC Capital Markets. The risk is toward further gains in USD/CAD, the bank said in its weekly FX view.
Financial stocks were mixed in late Friday afternoon trading, with the NYSE Financial Index down 0.1% and the State Street Financial Select Sector SPDR ETF adding 0.2%. The Philadelphia Housing Index was rising 0.6%, and the State Street Real Estate Select Sector SPDR ETF was advancing 0.3%. Bitcoin was increasing 0.9% to $71,159, and the yield for 10-year US Treasuries rose 1.2 basis points to...
* Justice Department to appeal judge's decision. * Powell says investigation a threat to Fed's independence. * Judge sees "no evidence whatsoever" of Powell wrongdoing. * Friday's events keep Warsh nomination in limbo in Senate. By Andrew Goudsward and Ann Saphir.
KBRA assigns a rating of BBB- to MSC Income Fund, Inc.'s (MSIF) $150 million, 6.34% senior unsecured notes due 2029. Key Credit Considerations The rating is supported by MSIF?s well diversified $1.3 billion investment portfolio spread among 150 portfolio companies across 30+ industries as of 4Q25, with ~77% of its portfolio consisting of senior secured first lien loans.
Barclays (BCS) on Friday joined Goldman Sachs in delaying its forecast for the U.S. Federal Reserve's first interest rate cut this year to September from June, citing heightened risks to inflation from the conflict in the Middle East.
A federal judge on Friday said he was blocking subpoenas that the Justice Department served to Federal Reserve Chair Jerome Powell in a probe purported to be about the management of the central bank's renovation, NBC News reported.
* Dollar index at highest since November. * Energy-sensitive currencies such as euro under pressure. * US consumer spending, core PCE inflation firmer before Iran war. * Traders bet on Fed rate cut by September. * Yen in intervention territory. By Saqib Iqbal Ahmed.
AM Best has affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Rating of ?bbb? and the Mexico National Scale Rating of ?aa.MX? of Fianzas Avanza S.A de C.V.. The outlook of these Credit Ratings is stable.
Exchange Income (EIFZF) on Friday announced the closing of its previously announced offering of $600 million aggregate principal amount in 4.324% senior unsecured notes due March 13, 2031. The company said that the notes were offered on a private placement basis in each of the Provinces of Canada in reliance on exemptions from the prospectus requirements under applicable securities laws.
* Indexes down: Dow off 0.07%, S&P 500 down 0.47%, Nasdaq drops 0.97% * Q4 GDP slashed in half, PCE inflation remains elevated, capital goods orders disappoint. * Meta drops following report of AI rollout postponement. * Adobe falls after CEO Shantanu Narayen to leave amid AI disruption worries. By Stephen Culp and Johann M Cherian.
The preliminary Michigan Sentiment index fell to 55.5 in March from 56.6 in February. According to Michigan, consumers' assessment of current conditions improved in March, while the near-term outlook deteriorated. The second estimate of Q4 GDP showed a 0.7% gain, revised down from a 1.4% gain in the advance estimate.
Educational institutions risk "hefty fines and other serious consequences, including potential loss of federal funding," should they fail to submit timely and complete data.?
Financial stocks edged up in Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each increasing about 0.1%. The Philadelphia Housing Index was rising 0.8%, and the State Street Real Estate Select Sector SPDR ETF was advancing 0.9%. Bitcoin was increasing 2.3% to $72,145, and the yield for 10-year US Treasuries was rising 1.6 basis point...
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of Amica Mutual Insurance Company and its wholly owned subsidiary, Amica Property and Casualty Insurance Company.
S&P: * S&P: ESCALATION OF MIDDLE EAST WAR COULD HAVE LONG-LASTING EFFECTS ON U.S. ECONOMY & CREDIT CONDITIONS. * S&P: NEGATIVE SUPPLY SHOCK FROM MIDDLE EAST WAR WILL LOWER U.S. GDP GROWTH AND RAISE INFLATION. * S&P: EXPECT U.S. OIL & GAS PRODUCERS WILL BENEFIT FROM ELEVATED OIL PRICES DUE TO MIDDLE EAST WAR. * S&P: DON'T EXPECT MIDDLE EAST WAR TO MATERIALLY AFFECT U.S. BANKS.
Gold trader lower midafternoon on Friday as the U.S. dollar rose to a four-month high after a report showed a key U.S. inflation measure eased in January, while a first revision to U.S. first-quarter gross domestic product slashed estimated growth in the period. Gold for April delivery was last seen down US$61.80 to US$5,064.00 per ounce.
US equity indexes and government bond yields were mixed in midday trading on Friday as investors monitored developments in the war with Iran alongside the Federal Reserve's inflation data.
China's central bank moved to rein in the fast-rising yuan on Friday, scrapping risk reserves requirements for forex forward contracts in a move that would encourage dollar buying as exporters start to feel the pinch from a stronger currency. The decision came after the yuan hit a near three-year high against the dollar on Thursday.
Demand for US durable goods unexpectedly held firm in January amid a drop in transportation equipment orders, official data showed Friday. Orders for tangible items with an average life of at least three years were virtually unchanged at $321.19 billion in January, following a 0.9% drop the prior month, the Census Bureau said.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index increasing 0.1% and the State Street Financial Select Sector SPDR ETF adding 0.5%. The Philadelphia Housing Index was rising 0.8%, and the State Street Real Estate Select Sector SPDR ETF was advancing 0.9%. Bitcoin was increasing 2.3% to $72,145, and the yield for 10-year US Treasuries was rising 1.6 basi...
* FTSE 100 down 0.4%, FTSE 250 down 0.4% * ONS data shows UK's economy stalled in January. * HSBC (HSBC), Standard Chartered (SCBFF) hit by Middle East conflict. * Energy index rises as crude prices exceed $100 per barrel. By Tharuniyaa Lakshmi.
Embattled Chinese property developer Fantasia on Friday unveiled detailed terms of its offshore debt restructuring, including plans to issue new equity, convertible bonds and long-dated secured notes. Fantasia is attempting to restructure about $4.66 billion of its offshore debt, through new shares, mandatory convertible bonds and about $1.44 billion in new secured notes to settle creditor claims.
* Dow up 0.02%, S&P 500 down 0.16%, Nasdaq down 0.47% * US consumer spending, core PCE inflation firmer in January. * Meta down 3%; report says AI model 'Avocado' rollout pushed to May or later. * Adobe falls 6.6% after CEO Shantanu Narayen to leave. By Johann M Cherian and Utkarsh Hathi.
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of ?bb? of One Alliance North America Insurance Company.
US consumer sentiment fell this month amid worries that higher energy prices could threaten personal finances as the war in the Middle East continued, a University of Michigan survey showed Friday. The headline sentiment index dropped to 55.5 from 56.6 in February, according to preliminary results of the survey.
European stock markets closed mostly lower in Friday trading as the Stoxx Europe was down 0.3%, Germany's DAX fell 0.4%, the FTSE 100 declined 0.3%, France's CAC lost 0.6%, and the Swiss Market Index edged up 0.1%. In the UK, monthly real GDP was stagnant in January, after rising 0.1% in December, according to the Office for National Statistics.
Newmont Corporation (NEM) shares are trading lower Friday morning as the world's largest gold miner faced pressure from shifting economic data. U.S. economic growth slowed sharply at the end of 2025. Gross domestic product expanded at an annualized rate of 0.7% in the fourth quarter. Separate data showed mixed inflation readings for the new year.
The US economy expanded in the last quarter of 2025 at a slower pace than initially estimated amid weaker consumer spending and a larger downturn in exports, government data showed Friday. Real gross domestic product in the world's largest economy grew at a 0.7% annualized rate in the December quarter, according to a second estimate released by the Bureau of Economic Analysis.
* Canadian dollar falls 0.6% against the greenback. * Touches its weakest since March 3 at 1.3722. * Canada's economy sheds 83,900 jobs in February. * Bond yields fall across the curve. By Fergal Smith.
* Dollar index at highest since November. * Energy-sensitive currencies such as euro under pressure. * US consumer spending, core PCE inflation firmer before Iran war. * Traders bet on Fed rate cut by September. * Yen in intervention territory. By Saqib Iqbal Ahmed.
The Dow Jones and S&P 500 were up slightly, while the Nasdaq Composite was down in late-morning trading Friday, as oil prices pulled back slightly and the US Bureau of Economic Analysis published a downwardly revised Q4 GDP figure. The BEA downwardly revised Q4 GDP to a 0.7% increase from a 1.4% gain in the advance estimate.
AM Best has removed from under review with developing implications and downgraded the Financial Strength Rating to A from A+ and the Long-Term Issuer Credit Ratings to ?a+? from ?aa-? of Banner Life Insurance Company and William Penn Life Insurance Company of New York collectively referred to as Banner Life Group.
The majority of a panel of Brazil's Supreme Court voted on Friday to keep the owner of liquidated lender Banco Master, Daniel Vorcaro, in jail. The businessman was detained earlier this month after a judge cited "strong indication" that Vorcaro attempted to bribe a former central bank director with gifts in return for preferential treatment.
* Consumer spending increases 0.4% in January. * Personal Consumption Expenditures price index excluding food and energy rises 0.4%; up 3.1% year-on-year. * Core capital goods orders unchanged; shipments fall 0.1% By Lucia Mutikani.
* Indexes up: Dow 0.42%, S&P 500 0.43%, Nasdaq 0.40% * US consumer spending, core PCE inflation firmer in January. * Meta down 1.8%; report says AI model 'Avocado' rollout pushed to May or later. * Adobe falls 6.5% after CEO Shantanu Narayen to leave. By Johann M Cherian and Utkarsh Hathi.
The University of Michigan's preliminary consumer sentiment index fell to 55.5 in March from 56.6 in February, a smaller decline than expected compared with a level of 54.8 in a survey compiled by Bloomberg.
U.S. consumer sentiment ebbed in early March as war in the Middle East raised gasoline prices and households worried about personal finances, a survey showed on Friday. The University of Michigan's Surveys of Consumers said its Consumer Sentiment Index fell to 55.5 this month from a final reading of 56.6 in February.
According to CIBC's Katherine Judge, today's employment figures will "throw cold water on market hawks" who had priced in a chance of the Bank of Canada hiking rates this year. CIBC continues to expect no move from the BoC this year. MT Newswires does not provide investment advice.
The U.S. Commerce Department said on Friday its Personal Consumption Expenditures Price Index rose largely in line with expectations in January, the latest sign that inflation remained relatively well behaved ahead of the war with Iran that began last month.
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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