KBRA releases the April 2026 issue of CMBS Trend Watch. Commercial mortgage-backed securities private label issuance began to gather steam again in April as deals that were delayed due to geopolitical events came to market. In April, 17 CMBS deals closed compared to 12 in March.
Palmer Square Capital Management cut the net asset value per share of its private credit fund by 10% in the first quarter as the firm marked down its software assets, it said on Wednesday. Investors have taken a closer look at private credit funds' portfolios as advances in artificial intelligence threaten the business models of companies in the software sector.
Investor Sentiment Index Drops 14 Points, Recording Lowest Score in Three Years. SOUTH WINDSOR, Conn. "Investor sentiment was clearly affected by the war in Iran," said RCN Capital CEO, Jeffrey Tesch.
Kin's largest reinsurance deal ever expands storm coverage beyond Florida for the first time CHICAGO, May 6, 2026 Kin Insurance, the direct-to-consumer digital home insurance provider, today announced the successful completion of its largest-ever catastrophe bond: a transaction through Hestia Re Ltd. totaling $335 million across four bonds that secures multi-year financial protection for homeow...
Sallie Mae?, formally SLM Corporation (SLM) announced today the commencement of a cash tender offer to purchase any and all of its outstanding 3.125% senior notes upon the terms and conditions described in the Company?s Offer to Purchase, dated May 6, 2026.
ADP's monthly measure of private payrolls showed a 109,000 increase in April, below expectations compiled by Bloomberg as of 7:20 am ET for an increase of 120,000. The April gain followed a downwardly revised 61,000 increase in March.
U.S. private payrolls increased more than expected in April, the ADP's national employment report showed on Wednesday. The ADP report is jointly developed with the Stanford Digital Economy Lab, and was published ahead of the Bureau of Labor Statistics' more comprehensive and closely watched employment report for April on Friday.
ROSELAND, N.J., May 6, 2026 Private sector employment increased by 109,000 jobs in April and pay was up 4.4 percent year-over-year according to the April ADP National Employment Report? produced by ADP Research in collaboration with the Stanford Digital Economy Lab.
The Michigan Strategic Fund board approved a plan to issue $150 million in private activity bonds for developer Bedrock's Detroit development projects.
The US dollar fell against its major trading partners early Wednesday ahead of the release of ADP private payrolls data for April at 8:15 am ET and the Treasury's quarterly refunding statement at 8:30 am ET. State-level unemployment data for March are due to be released at 10:00 am ET, followed by weekly petroleum stocks at 10:30 am ET.
ON Semiconductor Corporation (ON) announced today that it intends to offer, subject to market and other conditions, $1.3 billion aggregate principal amount of Convertible Senior Notes due 2031 in a private offering. onsemi intends to use the net proceeds from the offering to pay the cost of the convertible note hedge transactions described below, to repurchase up to $400.0 million of shares of onsem...
Canada's merchandise trade balance saw its largest monthly change in March since records began in 1988, said National Bank of Canada after Tuesday's data.
The Iran war has seen major central banks put interest rates on hold in April and stymied an easing push in emerging economies as policymakers face inflation pressures and volatile markets.
* Six of the G10 central banks kept interest rates on hold in April. * Emerging market easing stalls, only Russia, Brazil cut rates. * Rising oil prices due to Iran war fuel inflation fears.
The release of transcripts of Federal Reserve rate-setting meetings, a cornerstone of its transparency for more than 30 years, undermines the debate needed to set good monetary policy, incoming U.S. central bank chief Kevin Warsh says in an upcoming book, remarks that echo his wider desire to overhaul the Fed.
Euro zone government bond yields fell sharply on Wednesday as oil prices slid towards $100 per barrel and investors pared back bets on European Central Bank rate hikes amid hopes of a U.S.-Iran peace agreement. The White House believes it is close to an agreement with Iran on a one-page memorandum of understanding to end the war and set the framework for broader nuclear talks, Axios reported.
NATO countries need to hit the alliance's target of spending 5% of gross domestic product on defence five years ahead of schedule in 2030, Poland's defence minister said on Wednesday, as he warned of the risks of being too late in rearming.
Uganda's parliament passed legislation to curb alleged foreign influence after scaling back proposed restrictions on funding from abroad that the central bank governor said risked "economic disaster". The proposal, entitled "The Protection of Sovereignty Bill", was adopted late on Tuesday and now awaits the signature of President Yoweri Museveni.
Euro zone services activity contracted in April for the first time in almost a year, hit by weakening demand and deteriorating export business as the Middle East war weighed on consumer-facing sectors, a survey showed on Wednesday.
Euro area government bond yields eased on Wednesday as oil prices slipped below $110 per barrel and markets priced in a European Central Bank deposit rate just under 2.75% by year-end amid hopes of a U.S.-Iran peace agreement.
* Private PMI shows faster services growth, contrasts with official survey's contraction. * Domestic demand drives new business, but export orders and staffing levels decline. * Input costs rise while firms cut prices to retain clients. By Liangping Gao and Ryan Woo.
Afya Limited (AFYA), the leading medical education group and medical practice solutions provider in Brazil, announced today that Moody?s reaffirmed Afya?s credit rating at AAA.br and maintained a stable outlook.
Global ratings agency Fitch on Tuesday upgraded Argentina's long-term foreign currency and local currency issuer default rating to "B-" from "CCC+", with a stable outlook. -- Fitch cited "improved fiscal and external balances, progress on economic reforms, improved prospects for FX reserve accumulation" and its expectation that its government will secure financing to cover its debt obligations.
Flowserve Corporation (FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced the pricing of a public offering of $500 million of its 5.700% senior notes due 2036.
Brazil's central bank will hold a reverse foreign exchange swap auction on Wednesday, aiming to sell up to 10,000 contracts, it said in a statement on Tuesday. The deals start at 9:20 a.m. local time, the central bank said.
* Loonie trades in a range of 1.3605 to 1.3630. * Price of oil settles 3.9% lower. * Canada posts a C$1.78 billion trade surplus in March. * 10-year yield falls 1.8 basis points to 3.599% By Fergal Smith. The Canadian dollar steadied against its U.S. counterpart on Tuesday as the price of oil fell and data showed Canada's trade balance swung to a surprise surplus.
The yield on the 30-year US Treasury bond has retaken the 5% mark for the third time in less than three years, and this time the bill is arriving in plain sight: Washington is now spending roughly?$1.22 trillion?a year servicing its debt, the equivalent of over 4% of GDP and a level the United States has not paid out in interest since the early 1990s.
Financial stocks advanced in late Tuesday afternoon trading with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF adding 0.2%. The Philadelphia Housing Index gained 2.1%, and the State Street Real Estate Select Sector SPDR ETF increased 0.3%. Bitcoin rose 2.1% to $81,532, and the yield for 10-year US Treasuries shed 3 basis points to 4.416%. In economic...
* Loonie trades in a range of 1.3605 to 1.3630. * Price of oil settles 3.9% lower. * Canada posts a C$1.78 billion trade surplus in March. * 10-year yield falls 1.8 basis points to 3.599% By Fergal Smith. The Canadian dollar stuck to a narrow trading range against its U.S. counterpart on Tuesday as the price of oil fell and data showed that Canada's trade balance swung to a surprise surplus.
The US trade deficit grew in March as imports outpaced record-high exports, government data showed Tuesday. The goods and services deficit widened 4.4% sequentially to $60.31 billion in March on a seasonally adjusted basis, the Census Bureau and the Bureau of Economic Analysis said.
Financial stocks advanced in late Tuesday afternoon trading with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF adding 0.3%. The Philadelphia Housing Index gained 2.2%, and the State Street Real Estate Select Sector SPDR ETF increased 0.3%. Bitcoin rose 2.1% to $81,532, and the yield for 10-year US Treasuries shed 3 basis points to 4.416%. In corporat...
Bitcoin is increasingly seen as a national security tool, sparking a debate about how Bitcoin will integrate in times of rising sovereign debt. U.S. public debt has topped 100% of GDP for the first time since 1946 when the country demobilized after World War II. The government now spends $1.33 for every dollar collected, with debt service approaching $1 trillion annually.
* Crude prices drop but remain volatile after recent Middle East tensions. * Job openings fall but above expectations. * ISM Services expansion slows for second straight month. By Chuck Mikolajczak.
McKinney, Texas, is fighting a challenge to a refunding of sales tax-backed bonds sold for a commercial airline service project at its general aviation airport.
Financial stocks were mixed in Tuesday afternoon trading with the NYSE Financial Index rising 0.3% and the State Street Financial Select Sector SPDR ETF falling 0.2%. The Philadelphia Housing Index gained 1.9%, and the State Street Real Estate Select Sector SPDR ETF increased 0.1%. Bitcoin rose 1.7% to $81,234, and the yield for 10-year US Treasuries shed 3.2 basis points to 4.41%. In sector ne...
Gold traded higher midafternoon on Tuesday, rising off a five-week low as treasury yields weakened. Gold for June delivery was last seen up US$35.60 to US$4,568.90 per ounce.
President Emmanuel Macron plans to nominate his former chief of staff, Emmanuel Moulin, as France's next central bank governor, the Elysee said on Tuesday, seizing an early vacancy to install a trusted ally ahead of a 2027 election the far right could win.
Financial stocks were mixed in Tuesday afternoon trading with the NYSE Financial Index rising 0.3% and the State Street Financial Select Sector SPDR ETF falling 0.2%. The Philadelphia Housing Index gained 1.9%, and the State Street Real Estate Select Sector SPDR ETF increased 0.1%. Bitcoin rose 1.7% to $81,234, and the yield for 10-year US Treasuries shed 3.2 basis points to 4.41%. In corporate...
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Interamericana de Fianzas y Seguros, S.A.. The ratings reflect IFS? balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk mana...
Two surveys released Tuesday painted a mixed picture of the US services sector in April, with Institute for Supply Management data showing a deceleration in growth and an S&P Global (SPGI) report indicating a return to expansion. The ISM's purchasing managers' index fell to 53.6 last month from 54 in March.
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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