* Trump's unclear stance on Gulf war fuels inflation fears. * Iran, Oman drafting protocol on Hormuz Strait traffic. * Fed rate-cut expectations fade on worrying inflation data. * Focus shifts to US payrolls report for March. By Gertrude Chavez-Dreyfuss and Wayne Cole.
The Toronto Stock Exchange is up 60 points at midday with most sectors higher. The best performers are energy and technology. Limiting gains is the telecoms sector, which is down 3%. Net trade will likely act as a drag on first-quarter real GDP growth in Canada, both TD Bank and CIBC said after the release of February's trade data on Thursday.
The average rate on the most popular home-loan rate rose to its highest since early September,?as the Iran war pushes up oil prices and fans inflation fears, lifting U.S. bond yields that closely influence mortgage rates.
The average rate on the most popular home-loan rate rose to its highest since early September, as the Iran war pushes up oil prices and fans inflation fears, lifting U.S. bond yields that closely influence mortgage rates.
AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A+ from A- and the Long-Term Issuer Credit Rating to ?aa? from ?a-? of Arch Wilsure Insurance Company.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.46%. ?The 30-year fixed-rate mortgage edged up, averaging 6.46% this week,? said Sam Khater, Freddie Mac?s Chief Economist.
Fitch: * FITCH PLACES QATARENERGY'S 'AA' RATING ON RATING WATCH NEGATIVE. * FITCH ON QATARENERGY: EXPECT QE CAN STILL MANAGE DAMAGE INCURRED IN SCENARIO OF TWO-MONTH CLOSURE OF STRAIT OF HORMUZ. * FITCH ON QATARENERGY: CO'S CREDIT PROFILE REMAINS BOLSTERED BY ITS VERY PRUDENT FINANCIAL PROFILE AND STRONG LIQUIDITY.
S&P Ratings: * S&P RATINGS: BP PLC OUTLOOK REVISED TO POSITIVE ON DELEVERAGING; 'A-/A-2' RATINGS AFFIRMED. * S&P ON BP: POSITIVE OUTLOOK REFLECTS POTENTIAL FOR AN UPGRADE IF FFO TO DEBT IS RESILIENTLY ABOVE 45% ON AVERAGE GIVEN BP'S INTEGRATED BUSINESS MODEL. * S&P: BP'S CREDIT METRICS LIKELY TO REMAIN WEAKER THAN THOSE OF HIGHER-RATED PEERS.
LONGWOOD, Fla. The Bonds, which bear a 4.50% coupon for an approximately six-year fixed term interest rate period, will mature on July 1, 2032 and are guaranteed by certain subsidiaries of Waste Pro, pursuant to the terms of the indenture relating to the Bonds.
Eni said Thursday its board approved a plan to issue bonds of up to 10 billion euros to support its financial structure. The Italian energy company said the bonds will be issued in one or more tranches to institutional investors, depending on market conditions, through March 31, 2028. Proceeds will be used for general corporate purposes, Eni said. Shares of Eni were up 3.5% in Thursday trading.
* Canadian dollar falls against the greenback. * Trades in a range of 1.3870 to 1.3933. * Canada's trade deficit widens to C$5.74 billion in February. * Bond yields move lower across the curve. By Fergal Smith.
The Global Economic Development Forum, an international platform dedicated to fostering global economic cooperation and development, has once again proven its value by facilitating high-level dialogue and project matching to build an open world economy.
The Iran war has lit a fire under oil prices ? and under Fed hike bets. Since Operation Epic Fury began in late February, markets have swung dramatically, now pricing a roughly 45% probability that the Federal Reserve raises rates in 2026 ? up from just 12% before the war, as per CME FedWatch. Goldman Sachs says that?s too hawkish by a wide margin.
U.S. stocks traded lower this morning, with the Nasdaq Composite falling around 1% on Thursday. Following the market opening Thursday, the Dow traded down 0.84% to 46,176.67 while the NASDAQ fell 0.99% to 21,625.40. The S&P 500 also fell, dropping, 0.71% to 6,528.80. Leading and Lagging Sectors Energy shares climbed by 1.4% on Thursday.
* Weekly jobless claims fall 9,000 to 202,000. * Continuing claims increase 25,000 to 1.841 million. * Trade deficit widens 4.9% to $57.3 billion in February. By Lucia Mutikani.
Dallas Federal Reserve President Lorie Logan on Thursday laid out paths and options for the U.S. central bank to reduce the size of its balance sheet, in remarks that noted the current system works well and offers benefits for overall financial stability.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of Mutual of Omaha Insurance Company and its subsidiaries, United of Omaha Life Insurance Company, Companion Life Insurance Company and United World Life Insurance Company.
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Farmers Mutual Fire Insurance Company of McCandless.
The U.S. trade deficit widened in February as a rebound in imports offset strong growth in exports, which increased to a record high, potentially keeping trade on track to subtract from economic growth in the first quarter. The trade gap increased 4.9% to $57.3 billion, the Commerce Department's Bureau of Economic Analysis and Census Bureau said on Thursday.
The U.S. trade deficit widened in February as a rebound in imports offset strong growth in exports, which increased to a record high, potentially keeping trade on track to subtract from economic growth in the first quarter. The trade gap increased 4.9% to $57.3 billion, the Commerce Department's Bureau of Economic Analysis and Census Bureau said on Thursday.
Net trade will likely act as a drag on first-quarter real GDP growth in Canada, both TD Bank and CIBC said after the release of trade data for February on Thursday. Statistics Canada reported the country's trade deficit with the world widened to $5.7 billion in February from $4.2 billion in January, the largest deficit since August of last year.
* Turkey's gold reserves tumble nearly 120 tons in two weeks. * Indian dealers charge first gold premiums in two months. * Silver falls more than 7% By Ashitha Shivaprasad. Gold prices fell on Thursday as the U.S. dollar and oil prices rose after President Donald Trump said the U.S. would continue attacks on Iran, spurring inflation concerns and bolstering expectations of higher interest rates.
Moody's: * MOODY'S RATINGS CHANGES CAMBODIA'S OUTLOOK TO STABLE, AFFIRMS B2 RATING. * MOODY'S: CHANGE IN CAMBODIA'S OUTLOOK REFLECTS ASSESSMENT THAT KEY DOWNSIDE RISKS UNDERPINNING PREVIOUS NEGATIVE OUTLOOK ARE NOW LESS LIKELY. * MOODY'S: RISK OF SEVERE & PERSISTENT TARIFF SHOCK FROM US HAS DIMINISHED FOLLOWING REDUCTION OF US TARIFFS ON CAMBODIAN EXPORTS.
AM Best has upgraded the Long-Term Issuer Credit Ratings to ?aa? from ?aa-? and affirmed the Financial Strength Rating of A+ of Federated Mutual Insurance Company and its pooled subsidiaries, Federated Service Insurance Company, Federated Reserve Insurance Company, and Granite Re, Inc.. These companies are collectively referred to as Federated Mutual Group and are domiciled in Owatonna, MN. The...
Consumer stocks were flat to lower pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF inactive and the State Street Consumer Discretionary Select Sector SPDR ETF declining by 1.9%. JD.com (JD) stock was down more than 1% after the company priced a 10 billion Chinese renminbi offering of yuan-denominated senior unsecured notes.
By Jamie McGeever. U.S. job growth is slowing to a virtual standstill. The labor market has been steadily deteriorating for some time, but this has been masked by the headline unemployment rate which has drifted higher, but only gradually. The labor market is effectively stagnating.
While the net trade figure released Thursday by Statistics Canada will likely be "a negative" for Q1 GDP due to a surge in imports, Andrew Grantham over at CIBC says that's also "likely a sign of restocking following the inventory drawdown that was a large drag on GDP in the previous quarter."
Consumer stocks were leaning lower pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF down 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF marginally declining. JD.com (JD) stock was down more than 1% after the company priced a 10 billion Chinese renminbi offering of yuan-denominated senior unsecured notes.
The US international trade deficit widened to $57.35 billion in February from a $54.68 billion gap in January, compared with a $60.6 billion gap expected in a survey compiled by Bloomberg as of 7:35 am ET. Imports rose more than exports, widening the deficit.
In February, Canada's merchandise trade activity increased "sharply", with imports rising 8.4% and exports increasing 6.4%, Statistics Canada says Thursday. StatsCan said: "Exchanges of gold were influential in the merchandise trade results in February. BMO Economics in its morning note today said the goods trade deficit could narrow to $3.0 billion in February.
New applications for U.S. unemployment benefits unexpectedly fell last week amid low layoffs, suggesting labor market conditions remained calm in March, though economists warned that a prolonged war in the Middle East posed a downside risk. The month-long U.S.-Israeli war with Iran has added another layer of uncertainty for businesses, which were trying to navigate a forever-shifting trade policy.
New applications for U.S. unemployment benefits fell last week amid low layoffs, suggesting labor market conditions remained calm in March, though economists have warned that a prolonged war in the Middle East posed a downside risk. Private nonfarm payrolls have averaged growth of only 18,000 jobs per month in the three months through February.
US initial jobless claims fell to a level of 202,000 in the week ended March 28 from a upwardly revised 211,000 level in the previous week, compared with expectations for a increase to 212,000 in survey of analysts compiled by Bloomberg. The four-week moving average decreased by 3,000 to 207,750 after holding steady at a level of 210,750 in the previous week.
* Proportion of exports to US hits record low. * Trade deficit in February was at C$5.74 billion. * Imports surged by 8.4% while exports rose by 6.4% By Promit Mukherjee. Canada's merchandise trade deficit came in much wider than expected in February, data showed on Thursday, as a surge in gold purchases abroad pushed imports to a record high.
African economies could lose 0.2 percentage points of GDP growth in 2026 if the war in the Gulf exceeds six months, according to a report released on Thursday by two U.N. agencies, the African Union and the African Development Bank.
Industrial production in Brazil rose 0.9% in February from January, government statistics agency IBGE said on Thursday, beating the median estimate in a Reuters poll which projected an increase of 0.7%. Output was down 0.7% year-on-year in February, IBGE added.
Brookdale Senior Living (BKD) said Thursday that it has completed a refinancing transaction through KeyBank's real estate business via its Freddie Mac loan origination program, extending part of its 2027 debt maturities to 2033.
Hudbay Minerals (HBM) on Thursday said that it repaid in full all of its outstanding 4.50% senior unsecured notes due 2026, which were originally issued in an aggregate principal amount of US$600 million.
Judge Laura Taylor Swain is allowing the continued examination of a count in which a trustee is challenging fees, and some proceeds, of pre-bankruptcy bonds.
The Turkish Central Bank's international standard gold reserves dropped 69.1 tonnes to 702.5 tonnes in the week to March 27, central bank data showed on Thursday, in a second consecutive week of sharp falls. Gold reserves had fallen 49.3 tonnes in the previous week, in what had been the sharpest decline in 7-1/2 years, as a result of gold sales and gold-for-lira and forex swaps.
China's central bank has expanded its digital yuan programme by adding a dozen additional banks as operators, confirming a Reuters report last month. The 12 new banks allowed to handle the digital yuan include China CITIC Bank, China Everbright Bank, China Guangfa Bank, Shanghai Pudong Development Bank, among others, the People's Bank of China said in a statement.
The US dollar rose against its major trading partners early Thursday ahead of the release of weekly jobless claims and international trade data for February at 8:30 am ET. Weekly natural gas stocks data are due to be released at 10:30 am ET, and the Atlanta Federal Reserve is expected to update its GDPnowcast estimate of Q1 GDP around midday.
In Canada, the goods trade deficit could narrow to C$3.0 billion in February, according to BMO Economics in its morning note for this Thursday, ahead of trade data due out at 8.30am ET. BMO says: "Energy exports could step back as natural gas prices came back down to earth after January's deep freeze across parts of North America.
As higher home prices and upfront costs continue to sideline many first-time buyers, the Federal Home Loan Bank of Chicago provided $43 million in down payment assistance in 2025, helping more than 4,500 households across Illinois and Wisconsin purchase homes through its Downpayment Plus? programs.
Hudbay Minerals Inc. (HBM) today announced that it has repaid in full all of its outstanding 4.50% senior unsecured notes due 2026, which were originally issued in an aggregate principal amount of $600 million.
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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