The Toronto Stock Exchange closed lower on Thursday as the options market was seen signaling rising risk of oil prices rise to US$150 per barrel with the Strait of Hormuz still shut, while one Macquarie strategist is raising the full year 2026 oil price forecast as the global economic outlook is driven by military developments in the Middle East, and another says recent preliminary PMIs suggest...
US equity indexes slumped on Thursday as divergent and confusing messaging about the state of discussions between Washington and Tehran to end the war lifted crude oil futures and government bond yields. The Nasdaq Composite sank 2.4% to 21,408.08, with the S&P 500 down 1.7% to 6,477.16, and the Dow Jones Industrial Average 1% lower at 45,960.11. All but two sectors, energy and utilities, fell.
The Toronto Stock Exchange closed lower on Thursday as the options market was seen signaling rising risk of oil prices rise to US$150 per barrel with the Strait of Hormuz still shut, while one Macquarie strategist says recent preliminary PMIs suggest the global economy is in the "foothills of stagflation."
Financial stocks were decreasing late Thursday afternoon, with the NYSE Financial Index shedding 0.8% and the State Street Financial Select Sector SPDR ETF down 0.7%. The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF was decreasing 0.2%. Bitcoin was declining 4.1% to $68,445, and the yield for 10-year US Treasuries climbed 8.8 basis points ...
Carolyn Rogers, Senior Deputy Governor at the Bank of Canada, delivered a speech Thursday that was not as "overtly dovish" as the one presented last week by her boss, Governor Tiff Macklem, but she did again highlight downside risks to the economy, while not providing any clues on a near-term monetary policy response to the current oil shock, notes Tiago Figueiredo, a macro strategist at Desjar...
US housing costs and mortgage rates are on the up amid the uncertainty and inflation concerns caused by the ongoing Middle East conflict, sending some prospective homebuyers to the sidelines, Redfin said Thursday. The weekly average 30-year fixed mortgage rate hit a three-month high of 6.22% in the week through March 19, the online real estate brokerage said, citing Freddie Mac data.
Financial stocks were decreasing late Thursday afternoon, with the NYSE Financial Index shedding 0.8% and the State Street Financial Select Sector SPDR ETF down 0.7%. The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF was decreasing 0.2%. Bitcoin was declining 4.1% to $68,445, and the yield for 10-year US Treasuries climbed 8.8 basis points ...
The Kansas City Federal Reserve's manufacturing index rose to 11 in March from 5 in February, indicating faster expansion. Initial jobless claims increased by 5,000 to 210,000 in the week ended March 21, but the four-week moving average fell by 250 to 210,500, a fourth straight decrease. Insured claims fell by 32,000 to 1,819,000 million in the employment survey week ended March 14.
Financial stocks were decreasing Thursday afternoon, with the NYSE Financial Index shedding 0.7% and the State Street Financial Select Sector SPDR ETF down 0.6%. The Philadelphia Housing Index was falling 1.5%, and the State Street Real Estate Select Sector SPDR ETF was up 0.2%. Bitcoin was declining 3.3% to $68,952, and the yield for 10-year US Treasuries climbed 8 basis points to 4.40%. In ec...
US equity indexes fell midday Thursday after President Donald Trump's warning that Iran "get serious" in working out a peace deal with Washington sent crude oil futures and government bond yields higher.
Financial stocks were decreasing Thursday afternoon, with the NYSE Financial Index shedding 0.7% and the State Street Financial Select Sector SPDR ETF down 0.6%. The Philadelphia Housing Index was falling 1.5%, and the State Street Real Estate Select Sector SPDR ETF was up 0.2%. Bitcoin was declining 3.3% to $68,952, and the yield for 10-year US Treasuries climbed 8 basis points to 4.40%. In ec...
The Kansas City Fed monthly manufacturing index rose to a reading of 11 in March from 5 in February, compared with expectations for a decrease to a 3 print in a survey compiled by Bloomberg as of 7:35 am ET. The index indicates expansion, which is in line with the Philadelphia Fed and the S&P global flash indexes but in contrast with the Empire State index that suggested contraction.
Weekly applications for unemployment insurance increased as Oxford Economics cautioned that the Middle East conflict has made the labor market "vulnerable." For the week through March 21, the adjusted number of jobless claims rose by 5,000 to 210,000, in line with the Bloomberg-polled consensus, the Department of Labor said Thursday.
The Organisation for Economic Co-operation and Development Thursday presented its 2026 Economic Outlook Interim Report, in which it stated that the conflict in the Middle East is testing the resilience of the global economy. Global growth remained resilient before the conflict, but rising energy prices and uncertainty now weigh on the outlook, noted the OECD.
Norges Bank on Thursday, as expected, kept its policy rate unchanged at 4.0%, but it did surprise the market by saying "it will likely be appropriate to raise the policy rate at one of the forthcoming monetary policy meetings."
US initial jobless claims rose to a level of 210,000 in the week ended March 21 from a 205,000 level in the previous week, as expected in a survey of analysts compiled by Bloomberg as of 7:35 am ET. The four-week moving average fell by 250 to 210,500 after decreasing by 750 to a level of 210,750 in the previous week, a fourth straight decline.
The US dollar rose against its major trading partners early Thursday, except for a decline versus the yen, ahead of the release of weekly jobless claims at 8:30 am ET, followed by weekly natural gas stocks at 10:30 am ET and the Kansas City Federal Reserve's manufacturing reading for March at 11:00 am ET. Fed Governor Lisa Cook leads off a slate of appearances by Fed officials at 4:00 pm ET.
There has been a lot of focus on whether the rates move MUFG has seen since the start of the conflict in the Middle East is realistic, given that an energy price shock would be growth-negative. However, as the bank suspected, the European Central Bank's response to an energy price shock is likely to be quite different from before.
Colliers International Group (CIGI) said late Wednesday it completed a private placement of CA$550 million of 4.73% fixed rate senior unsecured notes due 2033. The notes were issued by its subsidiary, Colliers Macaulay Nicolls, and fully guaranteed by Colliers, according to the company.
Colliers International Group Wednesday said it completed a private placement of C$550 million of 4.73% fixed rate senior unsecured notes due 2033. The notes were issued by Colliers Macaulay Nicolls, a subsidiary of Colliers, and are fully guaranteed by the company.
Financial stocks were advancing in late Wednesday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF increasing 0.2%. The Philadelphia Housing Index was 0.3% higher, and the State Street Real Estate Select Sector SPDR ETF was up 0.3%. Bitcoin was increasing 0.5% to $70,893, and the yield for 10-year US Treasuries dropped 6.4 basis ...
Financial stocks were advancing in late Wednesday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF increasing 0.2%. The Philadelphia Housing Index was 0.3% higher, and the State Street Real Estate Select Sector SPDR ETF was up 0.3%. Bitcoin was increasing 0.5% to $70,893, and the yield for 10-year US Treasuries dropped 6.4 basis ...
While European Central Bank policymakers reinforced that the April and June Governing Council meetings were live for a rate hike, German Bunds followed the global trend higher on Wednesday, said Daiwa Capital Markets.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 1% and the State Street Financial Select Sector SPDR ETF increasing 0.2%. The Philadelphia Housing Index was 0.2% higher, and the State Street Real Estate Select Sector SPDR ETF was up 0.4%. Bitcoin was increasing 2.3% to $70,731, and the yield for 10-year US Treasuries was dropping 6.6 basis po...
Gold traded higher early Wednesday, rising off a near three-month low as treasury yields fell. Gold for April delivery was last seen up US$154.40 to US$4,588.50 per ounce, after falling to the lowest since Jan. 2 a day earlier. The price of the metal has dropped 18% since the United States and Israel launched their war on Iran on Feb. 28.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF increasing 0.2%. The Philadelphia Housing Index was fractionally lower, and the State Street Real Estate Select Sector SPDR ETF was up 0.2%. Bitcoin was increasing 0.7% to $71,025, and the yield for 10-year US Treasuries was dropping 6.4...
Mexico's March H1 headline inflation reading came in above expectations, driven by perishable foodstuffs and air transportation due to the upcoming Easter holidays, said Deutsche Bank. On the other hand, core inflation came in well aligned with expectations, easing slightly at an annual rate, wrote the bank in a note to clients.
Grifols' (GRFS) long-term issuer default rating was upgraded to BB- from B+ with a stable outlook, Fitch Ratings said in a statement Wednesday. Fitch also upgraded the company's senior secured ratings to BB+ and senior unsecured ratings to B+, according to the statement.
The US Q4 current account deficit narrowed to $190.75 billion from a revised $239.14 billion in the previous quarter, compared with expectations for a $208.5 billion deficit from a survey compiled by Bloomberg as of 7:30 am ET. The narrower current account deficit reflected a smaller goods and services gap, the return to surplus for the primary income component and a smaller secondary income gap.
The major foreign exchange rates have remained stable overnight Tuesday, as market participants wait to see if there is any progress in talks between the United States and Iran to end the conflict, said MUFG. The price of oil has settled back closer to US$100/barrel for Brent.
The Canadian province of Manitoba is estimating a budget deficit of $1.7 billion, 1.7% gross domestic product, in the outgoing 2025/26 fiscal year, said CIBC. While that is more than double last year's budget projections, the deterioration is largely linked to drought conditions that negatively impacted Manitoba Hydro and increased spending on fighting wildfires, noted the bank.
Harrow said late Tuesday it priced a private offering of $50 million of 8.625% senior unsecured notes due 2030. Net proceeds will be used for general corporate purposes. The offering is expected to be close Friday, according to the company. MT Newswires does not provide investment advice.
Financial stocks rose in late Tuesday afternoon trading, with the NYSE Financial Index up 0.5% and the State Street Financial Select Sector SPDR ETF adding 0.3%. The Philadelphia Housing Index was rising 0.2%, and the State Street Real Estate Select Sector SPDR ETF was decreasing 0.5%. Bitcoin was declining 2.1% to $69,413, and the yield for 10-year US Treasuries climbed 5.2 basis points to 4.3...
Financial stocks rose in late Tuesday afternoon trading, with the NYSE Financial Index up 0.5% and the State Street Financial Select Sector SPDR ETF adding 0.3%. The Philadelphia Housing Index was rising 0.2%, and the State Street Real Estate Select Sector SPDR ETF was decreasing 0.5%. Bitcoin was declining 2.1% to $69,413, and the yield for 10-year US Treasuries climbed 5.2 basis points to 4.3...
Financial stocks were up in Tuesday afternoon trading, with the NYSE Financial Index slightly higher and the State Street Financial Select Sector SPDR ETF adding 0.2%. The Philadelphia Housing Index was rising 0.7%, and the State Street Real Estate Select Sector SPDR ETF was decreasing 0.2%. Bitcoin was declining 2.4% to $69,206, and the yield for 10-year US Treasuries climbed 8.9 basis points ...
Financial stocks were mixed in Tuesday afternoon trading, with the NYSE Financial Index down 0.1% and the State Street Financial Select Sector SPDR ETF adding 0.3%. The Philadelphia Housing Index was rising 0.5%, and the State Street Real Estate Select Sector SPDR ETF was decreasing 0.1%. Bitcoin was declining 2.4% to $69,206, and the yield for 10-year US Treasuries climbed 8.9 basis points to ...
US equity indexes traded mixed after midday Tuesday as confusion surrounded the state of truce talks with Iran, belying market expectations, while Israel and Tel Aviv continued to exchange strikes.
The Bank of Chile is set to leave the policy rate unchanged at 4.50% on Tuesday as the weaker peso amplifies import price inflation, said Societe Generale. The BCCh is slated to release its policy statement at 5 p.m. ET on Tuesday. The window for additional easing by the BCCh has effectively narrowed, if not closed, noted the bank.
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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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