The Toronto Stock Exchange closed lower on Thursday, the first drop in seven sessions, on some profit taking, but also on wariness around continuing geopolitical tensions across the Middle East and lingering concerns around inflation with a recent spike in oil prices seen adding to existing tariff-related pressures on global economies.
Financial stocks increased late Thursday afternoon, with the NYSE Financial Index adding 0.3% and the State Street Financial Select Sector SPDR ETF up 0.4%. The Philadelphia Housing Index was climbing 1.2%, and the State Street Real Estate Select Sector SPDR ETF rose 0.8%. Bitcoin rose 1.1% to $72,174, and the yield for 10-year US Treasuries was slightly lower at 4.29%. In economic news, US eco...
The US economy expanded at a slower rate in the fourth quarter than previously projected, as consumer spending growth decelerated, the Bureau of Economic Analysis' third estimate showed Thursday. Real gross domestic product increased at a 0.5% annualized rate in the December quarter, down from the 0.7% growth reported in the second estimate.
Financial stocks were advancing in late Thursday afternoon trading, with the NYSE Financial Index adding 0.4% and the State Street Financial Select Sector SPDR ETF up 0.3%. The Philadelphia Housing Index was climbing 1.3%, and the State Street Real Estate Select Sector SPDR ETF rose 0.9%. Bitcoin rose 1% to $71,832, and the yield for 10-year US Treasuries was slightly lower at 4.29%. In corpora...
The US Consumer Price Index is expected to rise by 0.9% in March after a 0.3% gain in February, according to a survey compiled by Bloomberg, with higher gasoline prices due to the conflict in Iran the key factor. Not only are gasoline pump prices expected to rise, but other categories that rely heavily on energy, such as airfares, are expected to see a large push higher.
The third estimate of Q4 GDP showed a 0.5% gain, revised down from a 0.7% increase in the previous estimate. Personal spending is now reported up 1.9% after a 2.0% increase in the advance estimate. There were upward revisions to nonresidential fixed investment and government spending that were offset by downward adjustments to residential fixed investment and private inventories.
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each adding about 0.5%. The Philadelphia Housing Index was climbing 1.6%, and the State Street Real Estate Select Sector SPDR ETF was up 1.5%. Bitcoin rose 2% to $72,484, and the yield for 10-year US Treasuries was decreasing 2.8 basis points to 4.26...
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each adding 0.5%. The Philadelphia Housing Index was climbing 1.6%, and the State Street Real Estate Select Sector SPDR ETF was up 1.5%. Bitcoin rose 2% to $72,484, and the yield for 10-year US Treasuries was decreasing 2.8 basis points to 4.26%. In ...
Weekly applications for unemployment insurance in the US rose more than expected, while continuing claims reached the lowest level since May 2024, government data showed Thursday. For the week through April 4, the seasonally adjusted number of initial claims increased by 16,000 to 219,000 from the previous week's average that was adjusted upwards by 1,000, the Department of Labor said.
US inflation accelerated sequentially in February as real consumer spending edged higher, with analysts expecting price pressures to intensify due to the spillover effects of the Middle East conflict. The personal consumption expenditure price index rose 0.4% month over month in February following a 0.3% gain in the prior month, the Bureau of Economic Analysis reported Thursday.
The Federal Reserve Board said Thursday it has terminated a 2018 cease-and-desist order against Goldman Sachs (GS), effective March 25, after the firm addressed regulatory concerns. The Fed also ended a 2015 enforcement action against Credit Agricole and its corporate and investment banking unit, as well as a 2018 order against Mega International Commercial Bank, including its US branches.
US economic growth, measured by gross domestic product, was revised lower to a 0.5% increase in Q4 from a 0.7% gain in the second estimate, compared with estimates for no revision in a survey compiled by Bloomberg as of 7:35 am ET. GDP rose by 4.4% in Q3. Personal consumer expenditures were revised lower to a 1.9% gain from the 2.0% increase in the second estimate and were below a 3.5% gain in Q3.
US initial jobless claims rose to a level of 219,000 in the week ended April 4 from an upwardly revised 203,000 level in the previous week, compared with expectations for a smaller increase to 210,000 in survey of analysts compiled by Bloomberg. The four-week moving average increased by 1,500 to 209,500 after decreasing by 2,750 to a level of 208,000 in the previous week.
CoreWeave (CRWV) said Thursday it intends to offer $3.0 billion aggregate principal amount of its convertible senior notes due 2032 in a private offering. The company said it plans to grant initial buyers of the notes an option to purchase, for settlement within a 13-day window beginning on, and including, the date on which the notes are first issued, up to an additional $450 million of notes.
The US dollar was mixed against its major trading partners early Thursday -- up versus the yen and Canadian dollar, down versus the euro and pound -- ahead of a busy day of data releases, starting with weekly jobless claims, the third estimate of Q4 GDP, and personal income, spending and price data, all at 8:30 am ET.
The Federal Reserve should be "nimble" in adjusting monetary policy in light of heightened risks to inflation and employment driven by the Middle East conflict, minutes from the central bank's March 17-18 meeting showed Wednesday.
Financial stocks rose late Wednesday afternoon, with the NYSE Financial Index rising 2.8% and the State Street Financial Select Sector SPDR ETF adding 2.4%. The Philadelphia Housing Index gained 4.4%, and the State Street Real Estate Select Sector SPDR ETF added 1.7%. Bitcoin was up 3.5% at $71,297, and the yield for 10-year US Treasuries fell 5.2 basis points to 4.29%. In economic news, Federa...
Financial stocks climbed in late Wednesday afternoon trading, with the NYSE Financial Index rising 2.8% and the State Street Financial Select Sector SPDR ETF adding 2.4%. The Philadelphia Housing Index gained 4.4%, and the State Street Real Estate Select Sector SPDR ETF advanced 1.7%. Bitcoin was declining 1% to $71,190, and the yield for 10-year US Treasuries fell 5.2 basis points to 4.29%. In...
Federal Open Market Committee participants emphasized the need to remain "nimble" in responding to incoming data, with views still mixed on the future policy path, minutes of the March 17-18 FOMC meeting released Wednesday showed.
18 FOMC meeting showed a continued divergence of opinions on the path of policy, especially in light of the conflict with Iran, with most expecting a further rate cut at some point but others less certain. Recent comments of note: Fed Vice Chair Philip Jefferson said that rising energy prices clouds the outlook for inflation, which is already above the FOMC's target and appears to remain sticky.
Financial stocks climbed in Wednesday afternoon trading, with the NYSE Financial Index rising 3% and the State Street Financial Select Sector SPDR ETF adding 2.6%. The Philadelphia Housing Index was climbing 4.6%, and the State Street Real Estate Select Sector SPDR ETF advanced 1.5%. Bitcoin was declining 0.3% to $71,679, and the yield for 10-year US Treasuries was dropping 6.4 basis points to ...
Financial stocks gained in Wednesday afternoon trading, with the NYSE Financial Index rising 3% and the State Street Financial Select Sector SPDR ETF adding 2.4%. The Philadelphia Housing Index was climbing 4.6%, and the State Street Real Estate Select Sector SPDR ETF advanced 1.5%. Bitcoin was declining 0.3% to $71,679, and the yield for 10-year US Treasuries was dropping 6.4 basis points to n...
Despite marking up its inflation projections and keeping topline economic growth unchanged, UBS said it continues to expect the Bank of Canada to remain on hold this year. The latest signaling from the BoC is consistent with a cautious approach to changes in the policy rate in either direction, wrote the bank in a note to clients.
State-level data released by the Bureau of Labor Statistics Wednesday showed the unemployment rate rose in one state, Florida, in January and held steady elsewhere. The unemployment rate rose by 0.2 percentage point in Florida. Nonfarm payrolls rose in five states, fell in Washington D.C. and were little changed elsewhere.
According to Rosenberg Research in a comment on Canada within Wednesday's 'Early Morning With Dave' note a "most curious development today" is why traders still believe the Bank of Canada will be making its next move a rate hike, "or a steady diet of rate hikes, for that matter."
Vistra (VST) said Wednesday it launched a private offering of multiple series of senior unsecured notes through its subsidiary Vistra Operations. The company said the notes will be guaranteed by certain subsidiaries that also back its existing credit agreement.
Since the start of the Middle East conflict, five-year Government of Canada bonds and United States Treasuries have moved largely in tandem -- selling off about 35 bps, including early Wednesday's rally, said National Bank of Canada.
The US dollar fell against its major trading partners early Wednesday following a temporary ceasefire with Iran and ahead of a lighter data schedule leading into the minutes of the March 17-18 Federal Open Market Committee meeting at 2:00 pm ET.
Canadian gross treasury bill issuance is rising to $27 billion this week, or $4 billion higher, in what will be the first auction of the 2026-27 fiscal year, said National Bank of Canada. Of that, the Bank of Canada will purchase $270 million, or 1% of the tender, noted the bank.
Financial stocks dropped in Tuesday afternoon trading with the NYSE Financial Index falling 0.3% and the State Street Financial Select Sector SPDR ETF easing 0.1%. The Philadelphia Housing Index fell 1.8%, and the State Street Real Estate Select Sector SPDR ETF rose 0.2%. Bitcoin declined 0.6% to $68,456, and the yield for 10-year US Treasuries gained 2.9 basis points to 4.36%. In corporate new...
Demand for US durable goods decreased more than estimated in February amid weakness in the aircraft component, government data showed Tuesday. Orders for tangible items with an average life of at least three years fell 1.4% sequentially to $315.50 billion in February, following a 0.5% drop the month prior, the Census Bureau said.
Consumer expectations for one-year US inflation growth increased to a 3.4% gain in March from a 3.0% gain in the previous month, according to a survey released by the New York Federal Reserve Bank on Tuesday. The median inflation expectations accelerated to a 3.1% gain from a 3.0% gain for the three-year period but remained at a 3.0% gain for five years ahead.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Wildfire and Flood Scores, according to ICE Climate Data. A $5 million offering from Pine-Strawberry Fire District, Ariz., records a Wildfire Score of 5.0 out of 5.0, ICE reports.
Gold was steady early Tuesday, with the dollar and treasury yields little changed, even as the war on Iran continues to raise inflation worries while a report showed a larger than expected drop in U.S. durable goods orders in February, showing a weakening manufacturing sector. Gold for May delivery was last seen up $1.60 to US$4,686.30 per ounce.
The US dollar was mixed against its major trading partners early Tuesday -- up versus the yen and Canadian dollar, down versus the euro and pound -- ahead of the release of durable goods orders data for February at 8:30 am ET and weekly Redbook same-store sales at 8:55 am ET.
Atlas Energy Solutions (AESI) said Tuesday it priced a private offering of $390 million of 0.5% convertible senior unsecured notes due 2031, upsized from $300 million. The company granted the initial purchasers a 13-day option to buy up to an additional $60 million of notes.
Commerzbank in its "European Sunrise" note of Tuesday highlighted: Markets: United States Treasury yields edge higher after Friday's U.S. payrolls print, consolidate on Monday, but rise again in Asia early Tuesday. Fed: Federal Reserve Bank of Cleveland President Beth Hammack thinks a rate hike is possible if inflation persists.
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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