A two-notch upgrade of Cyprus' debt by Moody's is a vote of confidence in the island's economy, the country's president said on Saturday. Moody's upgraded Cyprus' long-term issuer and senior unsecured ratings to A3 from Baa2, citing a "material improvement" in fiscal and debt metrics that the rating agency expected to be sustained.
* Cambodia plans canal costing nearly 4% of GDP. * Cambodian govt has announced varying levels of Chinese support. * China expressed misgivings, put no money on table, sources say. * Chinese public investment in Cambodia is plunging, tourism down. * China says it has 'ironclad' friendship with Cambodia. By Francesco Guarascio.
AM Best has upgraded the Financial Strength Rating to B++ from B+ and the Long-Term Issuer Credit Rating to ?bbb+? from ?bbb-? of Investors Life Insurance Company of North America. The ratings reflect ILICNA?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
Supply has "declined materially, allowing dealers to take a breather, with their inventories dropping significantly, while retail investors do not seem to be spooked by rate volatility, lower taxes and possible threats to the tax-exempts, and continued putting money into tax-exempts at a brisk pace," said Mikhail Foux, managing director and head municipal research and strategy at Barclays.
President-elect Donald Trump may have campaigned hard against high inflation, but by the time of his Nov. 5 election victory financial professionals had moved on from rising prices and begun worrying about rising U.S. debt, possible recession, and risks to global trade as among the top threats to the stability of the financial sector, according to a new Federal Reserve survey released on Friday.
President-elect Donald Trump may have campaigned hard against high inflation, but by the time of his Nov. 5 election victory financial professionals had moved on from rising prices and begun worrying about rising U.S. debt, possible recession, and risks to global trade as among the top threats to the stability of the financial sector, according to a new Federal Reserve survey released on Friday.
AM Best has assigned a Long-Term Issue Credit Rating of ?bbb+? to the recently issued CAD 450 million, 4.73% senior unsecured notes, due November 2034, and CAD 250 million, 5.23% senior unsecured notes, due November 2054, of Fairfax Financial Holdings Limited (FRFHF) [TSX: FFH]. The outlook assigned to these Credit Ratings is positive.
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 ?bbb? of RF&G Insurance Company Limited . The outlook assigned to these Credit Ratings is stable.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa? of Knights of Columbus. The ratings reflect the Order?s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
Longer-dated U.S. Treasury yields slipped on Friday as investors awaited fresh data that will offer further clues on Federal Reserve policy and continued to assess how the policies of the Donald Trump administration will affect the economy next year. The next major clues on the economy will be November's jobs and inflation data due in early December.
* Fed's 2% inflation goal is not a focus of review. * Communication, forward-guidance strategy may be discussed. * Central bank's current framework was approved in 2020. By Howard Schneider. The U.S. Federal Reserve on Friday announced plans for a May 15-16 conference and public "Fed Listens" events around the country as part of a review of its long-run strategy and approach to policymaking.
AM Best has affirmed the Long-Term Issuer Credit Rating of ?bbb+? and the Long-Term Issue Credit Ratings of Markel Group Inc.. AM Best also has affirmed the Financial Strength Rating of A and the Long-Term ICRs of ?a+? of all the members of the Markel North America Insurance Group.
The U.S. Federal Reserve on Friday announced plans for a May 15-16 conference and public "Fed Listens" events around the country as part of a review of its long-run strategy and approach to policymaking.
The U.S. Federal Reserve on Friday announced plans for a May 15-16 conference and public "Fed Listens" events around the country as part of a review of its long-run strategy and approach to policymaking.
CTP NV: * CTP ANNOUNCES THE SUCCESSFUL PLACEMENT OF A ?500 MILLION GREEN BOND AND ?200 MILLION TENDER OFFER. * PLACES ?500 MILLION GREEN BOND WITH 8-YEAR MATURITY AND 3.875% COUPON. * TENDER OFFER SETTLEMENT EXPECTED ON 25 NOVEMBER 2024. * PROCEEDS TO BE USED FOR TENDER OFFER AND GENERAL CORPORATE PURPOSES. * ISSUANCE SAW STRONG DEMAND FROM INVESTORS AND ACHIEVED AN OVERSUBSCRIPTION OF 5.5 TIMES.
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* Mexico's inflation undershoots forecasts in early November, signaling potential rate cuts. * Banxico may continue rate cuts as inflation trends downward, according to central bank head. * Economy growth exceeds forecasts, but faces uncertainty in the future. * By Natalia Siniawski.
AM Best has downgraded the Long-Term Issuer Credit Rating to ?bbb? from ?bbb+? and affirmed the Financial Strength Rating of B++ of Gleaner Life Insurance Society. The ratings reflect Gleaner?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, neutral business profile and marginal enterprise risk management.
- U.S. consumer sentiment ticked up for a fourth straight month in November, led by a big upswing in sentiment among Republicans following Donald Trump's victory in the presidential election. The University of Michigan's Consumer Sentiment Index climbed to 71.8 this month, the highest since April, from 70.5 in October.
- U.S. consumer sentiment ticked up for a fourth straight month in November, led by a big upswing in sentiment among Republicans following Donald Trump's victory in the presidential election. The University of Michigan's Consumer Sentiment Index climbed to 71.8 this month, the highest since April, from 70.5 in October.
* Euro zone services activity contracted in November. * British PMI data also weak. * Euro falls below $1.04. * Bitcoin touches record, not far off $100,000. By Chuck Mikolajczak.
* Bond yields, euro tumble on weak PMI data. * Investors ramp up European Central Bank rate cut bets. * Markets see 50% chance of 50-basis-point cut in December. * Bank stocks down as much as 2.1% By Stefano Rebaudo, Dhara Ranasinghe.
The Swiss National Bank will reintroduce negative interest rates if necessary, Chairman Martin Schlegel said on Friday, comments which weakened the Swiss franc against the dollar and euro as investors anticipated more rate cuts in future. The central bank did not like negative rates, Schlegel said, but could use them if needed to dampen investor appetite for the safe-haven franc.
The banks most reluctant to tap the U.S. central bank's discount window to shore up their capital are in fact those who face the highest failure risk, according to new research from the New York Federal Reserve that turns the notion of bank emergency borrowing stigma on its head.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Kot Insurance Company AG. The ratings reflect Kot?s balance sheet strength, which AM Best assesses as very strong, its strong operating performance, neutral business profile and appropriate enterprise risk management.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of the pooled members of Selective Insurance Group. The ratings reflect Selective?s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
A measure of U.S. business activity raced to a 31-month high in November, boosted by hopes for lower interest rates and more business-friendly policies from President-elect Donald Trump's administration next year. S&P Global said on Friday that its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 55.3 this month.
A measure of U.S. business activity raced to a 31-month high in November, boosted by hopes for lower interest rates and more business-friendly policies from President-elect Donald Trump's administration next year. S&P Global said on Friday that its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 55.3 this month.
-Uncertainties around U.S. policies may slow global economic growth modestly in 2025, according to major brokerages. World economies and equity markets have had a robust year, with global growth expected to average 3.1% this year, a Reuters poll published in October showed.
U.S. Treasury yields slipped on Friday as investors awaited fresh data that will offer further clues on Federal Reserve policy and continued to assess how the policies of the Donald Trump administration will affect the economy next year. The next major clues on the economy will be November's jobs and inflation data due in early December.
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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