US benchmark equity indexes were lower and Treasury yields jumped after midday Tuesday as traders continued to monitor developments in the Middle East. The Nasdaq Composite was down 0.4% at 25,989.8 intraday, while the S&P 500 fell 0.2% to 7,385.
US equity indexes fell after the 30-year Treasury yield hit its highest in just under two decades, while bets favoring interest rate increases jumped amid President Donald Trump's threat to resume strikes if Iran fails to reach a peace deal.
Financial stocks declined in Tuesday afternoon trading, with the NYSE Financial Index decreasing 0.3% and the State Street Financial Select Sector SPDR ETF off 0.5%. The Philadelphia Housing Index was falling 1.3%, and the State Street Real Estate Select Sector SPDR ETF was up 0.4%. Bitcoin was fractionally lower at $76,933, and the yield for 10-year US Treasuries was up 3 basis points at 4.65%...
Broad Market Indicators. Broad-market exchange-traded funds IWM and IVV fell. US equity indexes fell in midday trading on Tuesday after the 30-year Treasury yield traded at its highest level in just under two decades and as the Iran standoff continued. Energy. IShares US Energy ETF and the State Street Energy Select Sector SPDR each rose about 0.8%. Technology.
Financial stocks declined in Tuesday afternoon trading, with the NYSE Financial Index decreasing 0.3% and the State Street Financial Select Sector SPDR ETF off 0.5%. The Philadelphia Housing Index was falling 1.3%, and the State Street Real Estate Select Sector SPDR ETF was up 0.4%. Bitcoin was fractionally lower at $76,933, and the yield for 10-year US Treasuries was rising 3.2 basis points to...
US equity indexes fell in midday trading on Tuesday after the 30-year Treasury yield traded at its highest level in just under two decades and as the Iran standoff continued.
Having had nightmares about another round of persistently high inflation, Canadian monetary policymakers can now rest easier after Tuesday's consumer price index for April, said Desjardins. Tuesday's CPI data suggest that underlying price pressures remain extremely muted, noted the bank.
All three major US stock indexes were down in late-morning trading Tuesday, as the 30-year Treasury yield hit its highest level in almost 19 years. The North Atlantic Treaty Organization is considering helping ships pass through the Strait of Hormuz if it doesn't get unblocked by early July, Bloomberg reported Tuesday, citing a senior official in the military alliance.
Canadian consumer prices rose 0.4% month over month non-seasonally adjusted in April, or 0.3% in seasonally adjusted terms, lifting the headline inflation rate to 2.8% year over year from 2.4% the prior month, said Bank of Montreal. The bump was driven by an 8.9% jump in gasoline prices, which the bank saw coming a mile away.
Canadian inflation accelerated sharply in April, though less than expected, driven primarily by higher gasoline prices and fading favorable energy base effects, said RBC after Tuesday's consumer price index. Headline CPI rose 0.3% month-over-month seasonally adjusted in April, lifting the annual rate to 2.8% from 2.4% in March, below market expectations, according to the bank.
The headline consumer price index accelerated in April as gasoline prices surged, but the jump wasn't as high as expected and core measures of inflation remained muted, supporting the current wait-and-see stance of the Bank of Canada, said CIBC. Earlier Tuesday, Canada released April's CPI.
Headline prices rose just 0.4%, well below the 0.7% consensus forecast. After declining 0.1% in March, prices excluding food and energy were unchanged in April. The breadth of Canadian outsized price increases narrowed in April, with the share of consumer price index components rising faster than 3% year over year falling to 38% from 41%, said Desjardis after Tuesday's CPI.
As expected, higher oil prices lifted Canadian inflation in April, but TD Economics isn't yet seeing much of a knock-on effect to non-energy-related goods or services, noting core inflation pressures were actually softer than expected in April. There is little argument yet for Bank of Canada rate hikes here, and market pricing for rate hikes this year has come down a bit early Tuesday, TD noted.
Canadian headline consumer price index accelerated in April as gasoline prices surged, but the jump wasn't as high as expected and core measures of inflation remained muted, supporting the current wait-and-see stance of the Bank of Canada, said CIBC. The 0.4% month-over-month non-seasonally adjusted increase was three ticks below the consensus forecast, noted the bank after Tuesday's data.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood and Wildfire Scores, according to ICE Climate Data. A $9 million offering from Burlington, N.J., records a Flood Risk Score of 5.0 out of 5.0, ICE reports.
The Canadian consumer price index increased 2.8% year over year in April on rising energy prices, up from an increase of 2.4% in March, said the country's statistical agency on Tuesday. But April's CPI was lower than a 3.1% year over year consensus figure provided by MUFG.
Canadian housing starts climbed by 16.5% month over month in April to a four-month high of 279,300 annualized units and beat expectations of a 245,000 print following an upwardly revised 239,700 reading in March from 235,900 initially, said Rosenberg Research.
The Canadian consumer price index for April is released at 8:30 a.m. ET on Tuesday, said Scotiabank. The bank has estimated a 1% month-over-month non-seasonally adjusted rise, with consensus at 0.7% and with a range from 0.6-1.0%, but the consensus is somewhat "thin." There is a reasonable range from 0.5-1.0%, it added.
Canada's consumer price index on Tuesday is a potential "marker mover" for Canadian government bonds and USD/CAD, said Societe Generale. Canada is slated to release CPI for April at 8:30 a.m. ET on Tuesday. The pair stalled at the 50dma, the 200dma above is situated at 1.3812 if risk sentiment "sours," writes the bank in a note to clients.
Canada will publish the consumer price index for April at 8:30 a.m. ET on Tuesday, said Bank of Montreal. Energy prices continued to climb in April, building on the prior month's surge, amid ongoing transportation disruptions due to the war in Iran, noted the bank.
Tuesday's release of Canada's April consumer price index at 8:30 a.m. ET should show a sharp rise in headline inflation, driven by food and gasoline prices, said ING. The consensus is looking for a 3.1% year-over-year print, while core measures should remain anchored around 2.2%-2.3% year over year, noted the bank.
Granite Construction (GVA) priced $600 million worth of 6.375% senior notes due 2034, the company said Monday. Granite intends to use the net proceeds along with cash on hand to pay down other debt and for general corporate purposes, it said. MT Newswires does not provide investment advice.
A senior Japanese Finance Ministry official has cast doubt on the prospect of Japan selling US Treasuries to support the yen, saying such a move could push US bond yields higher and ultimately weaken the Japanese currency, Bloomberg reported on Monday. The official said Japan has sufficient cash and deposit reserves available for currency intervention.
Akamai Technologies (AKAM) plans to offer $2.6 billion of 0% convertible senior notes due 2030 and 2032 in a private offering, the company said Monday. The company said it intends to use the proceeds to support accelerated capital expenditures tied to its Cloud Infrastructure Services business, including expansion of its global footprint, as well as for general corporate purposes.
Financial stocks advanced Monday with the NYSE Financial Index rising 1.1% and the State Street Financial Select Sector SPDR ETF gaining 1.2%. The Philadelphia Housing Index climbed 0.8%, and the State Street Real Estate Select Sector SPDR ETF rose 1.1%. Bitcoin fell 2% to $76,840, and the yield for 10-year US Treasuries was little changed at 4.60%. In economic news, US homebuilder confidence u...
Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index rising 1% and the State Street Financial Select Sector SPDR ETF ahead 1.3%. The Philadelphia Housing Index increased 0.9%, and the State Street Real Estate Select Sector SPDR ETF was up 1%. Bitcoin was declining 2% to $76,840, and the yield for 10-year US Treasuries was little changed at 4.60%. In co...
Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 1% and the State Street Financial Select Sector SPDR ETF ahead 1.2%. The Philadelphia Housing Index was climbing 1.1%, and the State Street Real Estate Select Sector SPDR ETF was up 0.8%. Bitcoin was declining 1.1% to $76,579, and the yield for 10-year US Treasuries was slightly higher at 4.599%. I...
Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 1% and the State Street Financial Select Sector SPDR ETF ahead 1.2%. The Philadelphia Housing Index was climbing 1.1%, and the State Street Real Estate Select Sector SPDR ETF was up 0.8%. Bitcoin was declining 1.1% to $76,579, and the yield for 10-year US Treasuries was slightly higher at 4.599%. I...
The Dow Jones Industrial Average, Nasdaq Composite and S&P 500 Index were down in late-morning trading Monday, as Wall Street monitored oil prices and US Treasury yields amid the ongoing conflict in the Middle East. In company news, NextEra Energy (NEE/PW) and Dominion Energy (D) said Monday they have entered into a definitive agreement to combine in an all-stock deal.
Hims & Hers Health (HIMS) plans a $300 million private offering of convertible senior notes due June 1, 2032, the company said Monday. The company expects to grant initial buyers an option to purchase up to an additional $45 million of notes.
The US dollar fell against its major trading partners early Monday, except for a gain versus the yen, with the focus this week on minutes of the April 28-29 Federal Open Market Committee meeting to be released on Wednesday.
US equity investors will remain focused on President Donald Trump's attempts to force Iran to reopen the Strait of Hormuz as the 30-year Treasury yield traded at a 28-year high amid inflation concerns and Nvidia's (NVDA) quarterly results.
Starbucks (SBUX) said late Friday that it has raised the cap on the maximum amount it will repurchase after investors tendered about $2.6 billion of notes by the early deadline, exceeding its original repurchase capacity. The company said it increased its total acceptance cap to $1.3 billion, including $600 million for one pool of notes and $700 million for another.
Eni said Monday it plans to issue new fixed-rate bonds with five-year and nine-year maturities under its existing euro medium term note program. The company said the bonds are intended for institutional investors and will be used to help maintain a balanced financial structure, with proceeds earmarked for general corporate purposes.
The Nasdaq Composite and the S&P 500 fell from record highs as inflation concerns pushed Treasury yields higher. The Nasdaq tumbled 1.5% to 26,225.1, while the S&P 500 dropped 1.2% to 7,408.5. The Dow Jones Industrial Average lost 1.1% to 49,526.2. Barring energy, all sectors ended in the red, led by materials' 2.7% slump.
US equity indexes slumped as continuing uncertainty over the reopening timeline for the Strait of Hormuz following the China summit spooked investors, sending government bond yields and crude oil futures sharply higher. The Nasdaq Composite dropped 1.4% to 26,225.14, with the S&P 500 down 1.2% to 7,408.5 and the Dow Jones Industrial Average seen lower by 1% to 49,526.1 at the close on Friday.
US annual consumer inflation is expected to reach 6% in the ongoing quarter and remain above 2% in the long term, a poll of economists by the Federal Reserve Bank of Philadelphia showed Friday. The headline consumer price index is expected to average 6% in the second quarter, according to the Fed branch's latest quarterly Survey of Professional Forecasters.
Financial stocks declined in late Friday afternoon trading with the NYSE Financial Index shedding 0.7% and the State Street Financial Select Sector SPDR ETF falling 0.3%. The Philadelphia Housing Index shed 3.1%, and the State Street Real Estate Select Sector SPDR ETF fell 1.5%. Bitcoin declined 2.5% to $79,082, and the yield for 10-year US Treasuries jumped 13.4 basis points to 4.595%. In econ...
RBC Capital Markets said Tuesday's April CPI report will be the highlight for next week, with the headline print likely to accelerate while broader price pressures should remain contained. In its CAD Weekly Soundbites report, RBC said it and consensus expect April CPI to rise 3.1% year-over-year, compared with 2.4% previously, as headline price pressures should escalate from higher energy costs.
Financial stocks declined in late Friday afternoon trading, with the NYSE Financial Index shedding 0.7% and the State Street Financial Select Sector SPDR ETF down 0.3%. The Philadelphia Housing Index shed 2.8%, and the State Street Real Estate Select Sector SPDR ETF fell 1.3%. Bitcoin was declining 2.5% to $79,082, and the yield for 10-year US Treasuries jumped 13.4 basis points to nearly 4.60%...
US benchmark equity indexes were lower intraday as Treasury yields jumped amid inflation concerns, while oil prices moved higher on the back of renewed Middle East worries. The Nasdaq Composite and the Dow Jones Industrial Average were down 0.8% each at 26,412.7 and 49,658.24, respectively, after midday Friday.
Gold traded lower midafternoon Friday as the dollar and yields climbed on concerns around inflation and concerns the rise in oil prices will force central banks to hike interest rates. Gold for June delivery was last seen down $119.40 to US$4,565.90 per ounce.
Financial stocks declined in Friday afternoon trading, with the NYSE Financial Index shedding 0.5% and the State Street Financial Select Sector SPDR ETF easing 0.2%. The Philadelphia Housing Index was down 3%, and the State Street Real Estate Select Sector SPDR ETF fell 1.4%. Bitcoin was declining 2.5% to $79,348, and the yield for 10-year US Treasuries jumped 12.8 basis points to 4.59%. In eco...
US equity indexes fell amid a surge in government bond yields and crude oil futures in midday trading on Friday as investors weighed the probability of the Strait of Hormuz reopening in the near term. The Nasdaq Composite fell 1.1% to 26,340.3, while the S&P 500 was down 0.9% to 7,433.7 and the Dow Jones Industrial Average was lower by 0.8% to 49,646.5. All sectors except energy fell.
Financial stocks were lower in Friday afternoon trading, with the NYSE Financial Index shedding 0.5% and the State Street Financial Select Sector SPDR ETF easing 0.1%. The Philadelphia Housing Index was falling 3%, and the State Street Real Estate Select Sector SPDR ETF dropped 1.4%. Bitcoin was declining 2.5% to $79,348, and the yield for 10-year US Treasuries jumped 12.8 basis points to 4.59%...
US industrial production rebounded more than projected in April, buoyed the manufacturing and utilities categories, Federal Reserve data showed Friday. Industrial output rose 0.7% last month following a revised 0.3% drop in March, the Fed said.
US equity indexes fell amid a surge in government bond yields and crude oil futures in midday trading as investors weighed the outcome of the China summit. The Nasdaq Composite fell 1.2% to 26,321.9, while the S&P 500 and Dow Jones Industrial Average both lost 0.9% to 7,432.4 and 49,598.9, respectively. All sectors except energy fell.
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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