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.
It's unusual for the Bank of Canada to lose two deputy governors on the same day, not to mention at a possible policy inflection point and in a five-year review year for its mandate, said Scotiabank. However, that is what happened with Monday's announcement for Sharon Kozicki and Rhys Mendes.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust retreated by 0.2% and the actively traded Invesco QQQ Trust was 0.2% lower in Tuesday's premarket activity amid economic data releases. US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.3%, and Nasdaq futures retreating 0.2% before the start of regular trading.
Harrow said Tuesday that it plans to offer an additional $50.0 million worth of its 8.625% senior unsecured notes due 2030. The notes are to be issued under the same conditions governing the $250 million offering of the 2030 notes issued in September, the company said. Harrow said it intends to use the net proceeds from the additional issuance for general corporate purposes.
Although the European Purchasing Managers' Index remained above the 50-point threshold, which separates growth from contraction, for a fifteenth consecutive month in March, the negative effect of the Iran war is clearly visible, said Berenberg after Tuesday's figures.
United States President Donald Trump's comments on Monday quickly saw markets cut the chances of an April European Central Bank rate hike to 65% from 100%, said ING. The bank's team, at this stage, feels a hike in April is "very unlikely." However, it doesn't cost much for the ECB to talk tough, souring this supply shock in an effort to keep inflation expectations in check.
Nexstar Media Group (NXST) said late Monday its subsidiary, Nexstar Media (NXST), priced a private offering of approximately $5.1 billion in senior notes. The company said the offering includes $3.39 billion of 6.50% senior secured notes due 2033 and $1.73 billion of 7.25% senior unsecured notes due 2034, both issued at par.
Zions Bancorporation agreed to buy the agency lending business of Basis Multifamily Finance I, a subsidiary of Basis Investment Group. The deal includes the unit's team, access to Fannie Mae and Freddie Mac lending programs, and all associated mortgage-servicing rights, Zions said Monday in a statement. Financial terms weren't disclosed.
US equity indexes rose on Monday after President Donald Trump's decision to postpone a threat to attack Iran's power infrastructure sent crude oil prices and government bond yields sharply lower.
Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index rising 1.7% and the State Street Financial Select Sector SPDR ETF adding 1.3%. The Philadelphia Housing Index was up 3.3%, and the State Street Real Estate Select Sector SPDR ETF added 1%. Bitcoin was increasing 4.4% to $70,932, and the yield for 10-year US Treasuries fell 5.7 basis points to 4.33%. ...
Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index rising 1.7% and the State Street Financial Select Sector SPDR ETF adding 1.3%. The Philadelphia Housing Index was up 3.3%, and the State Street Real Estate Select Sector SPDR ETF added 1%. Bitcoin was increasing 4.4% to $70,932, and the yield for 10-year US Treasuries fell 5.7 basis points to 4.33%. ...
Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 1.5% and the State Street Financial Select Sector SPDR ETF adding 1.1%. The Philadelphia Housing Index was up 3%, and the State Street Real Estate Select Sector SPDR ETF was gaining 1.3%. Bitcoin was increasing 3.9% to $70,553, and the yield for 10-year US Treasuries was shedding 2.5 basis points t...
Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 1.5% and the State Street Financial Select Sector SPDR ETF adding 1.1%. The Philadelphia Housing Index was climbing 3%, and the State Street Real Estate Select Sector SPDR ETF was up 1.3%. Bitcoin was increasing 3.9% to $70,553, and the yield for 10-year US Treasuries was shedding 2.5 basis points ...
Deutsche Bank said it expects Chile's central bank to keep rates on hold at 4.5% on Tuesday. The geopolitical shock in the Middle East is adding upside risks to inflation and downside risks to economic activity, and its macroeconomic implications would depend on the duration and scope of the ongoing disruptions in energy markets, noted the bank.
Morgan Stanley said it sees Hungary's central bank NBH on hold on Tuesday, with a cautious forward guidance focused on ensuring currency and inflation expectations stability. Morgan Stanley noted it expects Norway's Norges Bank to remain on hold on Thursday. The policy rate path will be revised upwards and the bank forecasts the statement to flag risks to the upside.
Scotiabank provided market pricing across several central banks just before President Donald Trump's latest post claiming the United States and Iran had held talks and were moving toward de-escalation. -- Federal Reserve: OIS markets are leaning toward a mostly priced 25bps hike by year-end. -- Bank of Canada: Markets have about 100bps of hikes priced by year-end.
US construction spending fell by 0.3% in January, compared with a 0.1% increase expected in a survey compiled by Bloomberg and following an upwardly revised 0.8% increase in December.
TD said last week's data releases and the Bank of Canada statement described a world that could have been, with a domestic backdrop showing easing inflation. The war in Iran has upended that, noted the bank. It is unfortunate that households and businesses will face this new pinch because Friday's retail sales data in Canada sent some positive signals, stated TD.
The US dollar was mixed against its major trading partners early Monday -- up versus the pound and Canadian dollar, down versus the euro and yen -- ahead a lighter data week, starting with the Chicago Federal Reserve's national activity index for February at 8:30 am ET, construction spending for January at 10:00 am ET and the Atlanta Federal Reserve's GDP nowcast reading around midday.
Statistics Canada's advance estimate for retail sales points to a 0.9% month-over-month nominal increase in February retail sales, said National Bank of Canada. With goods prices rising only modestly in the February consumer price index report, this implies a "solid" gain in real terms, noted the bank.
The yen has held up better than most other G10 currencies against the US dollar overnight Sunday, with USD/JPY continuing to trade just below the 160.00 level, said MUFG. The yen has been supported by further verbal intervention from Japanese policymakers, wrote the bank in a note to clients.
US equity indexes closed lower on Friday as crude oil prices rose again, along with government bond yields, while expectations for a Fed rate hike increased. * The US is considering plans to occupy Iran's Kharg Island, vital to its oil exports. * The Federal Reserve Bank of St. Louis now forecasts Q1 US GDP growth of 1.69%, down from an earlier estimate of a 2.05% gain.
Financial stocks were mixed Friday with the NYSE Financial Index declining 1.2% and the State Street Financial Select Sector SPDR ETF gaining 0.2%. The Philadelphia Housing Index fell 2.2%, and the State Street Real Estate Select Sector SPDR ETF slumped 3.1%. Bitcoin eased 0.1% to $69,852, and the yield for 10-year US Treasuries jumped 11 basis points to 4.39%. In economic news, the Federal Res...
RBC Capital Markets said the Bank of Canada emphasized a weak starting point for the Canadian economy in allowing it to be patient in assessing the broader impact of higher energy prices. In foreign exchange, USD/CAD faces opposing forces from the USD and crude oil prices in the current environment, RBC expects the USD to be the main driver, with crude oil prices acting as a partial offset.
Financial stocks were mixed in Friday afternoon trading, with the NYSE Financial Index down 0.5% and the State Street Financial Select Sector SPDR ETF adding 0.7%. The Philadelphia Housing Index fell 2%, and the State Street Real Estate Select Sector SPDR ETF dropped 1.6%. Bitcoin was easing 0.1% to $69,833, and the yield for 10-year US Treasuries climbed 9.1 basis points to 4.37%. In economic ...
Financial stocks were mixed in Friday afternoon trading, with the NYSE Financial Index down 0.5% and the State Street Financial Select Sector SPDR ETF adding 0.7%. The Philadelphia Housing Index fell 2%, and the State Street Real Estate Select Sector SPDR ETF dropped 1.6%. Bitcoin was easing 0.1% to $69,833, and the yield for 10-year US Treasuries climbed 9.1 basis points to 4.37%. In corporate...
Carnival said Friday it will voluntarily delist its 1.000% senior unsecured notes due 2029 from the New York Stock Exchange and its 7.875% debentures due 2027 from the London Stock Exchange, as part of its previously announced restructuring.
Gold rose off a two-month low early Friday, rebounding despite a higher dollar, rising treasury yields and dimming hopes for lower interest rates. Gold for April delivery was last seen up $69.60 to US$4,675.60 per ounce, after falling to the lowest since Jan. 16 a day earlier.
According to Oskar Stone over at Desjardins, retail sales for the first two months of the year were "surprisingly strong", despite adverse weather conditions in parts of the country. Stone noted headline retail sales rose 1.1% in January, with a rebound in auto sales an important catalyst.
According to Oskar Stone over at RBC, retail sales for the first two months of the year were "surprisingly strong", despite adverse weather conditions in parts of the country. Stone noted headline retail sales rose 1.1% in January, with a rebound in auto sales an important catalyst.
Russia's central bank Friday said its Russia Board of Directors decided to cut the key rate by 50 basis points to 15.00%, as expected. CBR is widely expected by analysts to deliver a 50bps rate cut on Friday, extending its 'symbolic' monetary easing cycle while maintaining a fundamentally cautious stance, wrote Commerzbank in a note before the policy decision.
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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