The U.S. long bond has been in the spotlight recently, with the 30-year Treasury yield piercing 5% and nearing its highest level in two decades. The rise in long-dated yields - Wednesday's 30-year auction sold above 5% for the first time since 2007 - has grabbed headlines, but yields at the front end have actually spiked by even more.
Peru's central bank held its benchmark interest rate for the eighth straight time on Thursday, keeping it at 4.25% in line with analysts' expectations after inflation in April remained outside the bank's target range.
Federal Reserve Governor Michael Barr said Thursday that lowering liquidity rules to get the central bank's balance sheet smaller is a bad idea and could undermine the safety of the financial system.
* Fed's Barr says misguided to ease bank liquidity rules to lower Fed holdings. * Barr says efforts to cut Fed balance sheet via rule changes could increase risk. * Barr says current Fed policy system has worked well. By Michael S. Derby.
Federal Reserve Bank of New York President John Williams said on Thursday he does not see a need right now for the central bank to weigh any change in interest rate policy amid the uncertainty created by the Middle East war. Monetary policy is in a "good place" right now, the official said in remarks given in New York.
Par Pacific Holdings (PARR) said Thursday its Par Petroleum subsidiary closed a private placement of $500 million of 7.375% senior unsecured notes due 2034. The company used the net proceeds, along with cash on hand and borrowings under its asset-based revolving credit facility, to repay all outstanding borrowings and terminate Par Petroleum's term loan due 2030.
Encompass Health (EHC) priced a private offering of $500 million in aggregate principal amount of 5.875% senior notes due 2034. The notes were priced at 100% of principal, the company said Thursday in a statement. The company will pay interest semiannually on June 1 and Dec. 1, beginning Dec. 1, 2026.
Ocugen (OCGN) said late Thursday it closed a private offering of $130 million of 6.75% convertible senior notes due 2034. The offering comprised $15 million of notes issued upon the full exercise of an overallotment option by the initial buyer, according to a statement.
Kennedy-Wilson, Inc., a wholly-owned subsidiary of global real estate investment company Kennedy-Wilson Holdings, Inc. (KW), today announced the pricing of the previously announced private offering of $1.8 billion in aggregate principal amount of senior notes, consisting of $1.1 billion of 7.000% senior notes due 2031 and $700 million of 7.250% senior notes due 2033 pursuant to Rule 144A and Regulat...
Coupang Inc (CPNG): * Coupang Inc (CPNG): U.S. SENATE CONFIRMED KEVIN WARSH AS FEDERAL RESERVE CHAIR AND HE RESIGNED AS A DIRECTOR OF CO EFFECTIVE IMMEDIATELY - SEC FILING. * Coupang Inc (CPNG) - BOARD TO REDUCE SIZE BY ONE DIRECTOR AFTER WARSH RESIGNATION - SEC FILING Source text: Further company coverage:
Grant Will Support Efforts to Clear Property Titles and Execute Wills for Families in San Antonio, Texas. A $150,000 Pathway Fund grant from the Federal Home Loan Bank of Dallas to the Mexican American Unity Council will help families prevent and address heirs? property issues in San Antonio, Texas. This press release features multimedia.
VCI Global Limited (VCIG), today announced the launch of its Strategic Gold Treasury Program, a long-term treasury framework and capital allocation initiative designed to integrate physical gold holdings and gold-linked digital reserve assets into the Company?s broader treasury and platform strategy.
Par Pacific Holdings, Inc. (PARR) announced today that Par Petroleum, LLC, a wholly owned subsidiary of Par Pacific (PARR), closed its private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, of $500 million in aggregate principal amount of 7.375% senior unsecured notes due 2034.
KBRA assigns a long-term rating of AAA to the Tri-County Metropolitan Transportation District of Oregon's Senior Lien Payroll Tax Revenue Bonds, Series 2026A. To access ratings and relevant documents, click here. Click here to view the report.
Financial stocks rose late Thursday afternoon trading, with the NYSE Financial Index increasing 0.6% and the State Street Financial Select Sector SPDR ETF adding 0.7%. The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF was down 0.6%. Bitcoin gained 2.7% to $81,396, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.46%. In e...
Financial stocks were higher late Thursday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF adding 0.7%. The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF was down 0.6%. Bitcoin gained 2.7% to $81,396, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.46%. I...
Federal Reserve Governor Stephen Miran said Thursday that he will resign from the Fed before or shortly before Kevin Warsh is sworn in as a governor and Fed Chair. Miran was filling a term that expired on Jan. 31, 2026, when he said that he would remain in the position until a successor was appointed.
U.S. Federal Reserve Governor Stephen Miran on Thursday said he would resign his seat on or shortly before Kevin Warsh is sworn in as the Fed's next chair, a necessary step since there is no other open seat on the seven-member board for Warsh to fill and Miran's term had technically expired in January.
Gold moved lower midafternoon Thursday as the dollar rose after a report showed U.S. retail-sales growth slowed in April. Gold for June delivery was last seen down US$22.20 to US$4,684.50. The U.S. Census Bureau reported retail sales roes by 0.5% last month, down from a revised 1.6% in March but matching expectations according to Marketwatch.
Financial stocks were higher Thursday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF adding 0.6%. The Philadelphia Housing Index was climbing 0.8%, and the State Street Real Estate Select Sector SPDR ETF was down 0.4%. Bitcoin gained 2.6% to $81,414, and the yield for 10-year US Treasuries was decreasing 3 basis points to 4.45%...
Appalachian Power Recovery Funding LLC: * APPALACHIAN POWER RECOVERY FUNDING FILES PRELIMINARY TERM SHEET FOR $1.38 BILLION SERIES 2026-A SENIOR SECURED SAC BONDS - SEC FILING Source text: Further company coverage:
Telecom Italia SpA: * FITCH UPGRADES TELECOM ITALIA TO 'BB+'; STABLE OUTLOOK. * FITCH: UPGRADE REFLECTS STRONGER CASH FLOW GENERATION, STABILISING LEVERAGE AFTER DISPOSAL OF TIM'S FIXED LOCAL ACCESS NETWORK & OTHER NON-CORE ASSETS. * FITCH ON TELECOM ITALIA: STABLE OUTLOOK REFLECTS EXPECTATIONS THAT CASH FLOW & LEVERAGE WILL REMAIN WITHIN OUR 'BB+' RATING SENSITIVITIES.
U.S. retail sales increased solidly for a third straight month in April, though part of the rise in receipts was due to a sharp rise in inflation since the start of the U.S.-backed war with Iran. Rising price pressures were underscored by other data on Thursday showing imported inflation last month rose at its fastest pace in four years.
Badger Infrastructure Solutions (BDGIF) closed a private-placement offering of $300 million aggregate principal amount of 5.375% senior unsecured notes due May 14, 2031, the company said on Thursday. The company will use proceeds to repay indebtedness under its credit facilities, including its term facility.
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF adding 0.6%. The Philadelphia Housing Index was climbing 0.8%, and the State Street Real Estate Select Sector SPDR ETF was down 0.4%. Bitcoin gained 2.6% to $81,414, and the yield for 10-year US Treasuries was decreasing 2.8 basis points ...
A federal judge ruled Cook County, Illinois, is liable for contitutional violations of homeowners' rights by stripping them of equity in delinquent tax sales.
Federal Reserve Bank of Cleveland President Beth Hammack reiterated on Thursday that a wide range of evidence supports the idea that an independent central bank makes policy more effectively.
* IMF welcomes engagement between world's two largest economies. * IMF says Middle East war pushing global economy into lower growth scenario. * Fund continues to discuss potential assistance to countries struggling with high energy prices. By David Lawder and Andrea Shalal.
Weekly applications for unemployment insurance in the US increased more than estimated, while continuing claims also rose, government data showed Thursday. For the week through May 9, the seasonally adjusted number of initial claims grew by 12,000 to 211,000, the Department of Labor said.
AM Best has upgraded the Long-Term Issuer Credit Rating to ?aa? from ?aa-? and affirmed the Financial Strength Rating of A+ of MS Amlin AG. The Credit Ratings reflect the consolidated balance sheet strength of MSI, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.36%. ?Mortgage rates ticked down this week, averaging 6.36%,? said Sam Khater, Freddie Mac?s Chief Economist. News Facts The PMMS? is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
IC Manage today announced major generative and agentic AI enhancements to its industry-leading GDP-AI design and IP management system. Built for high performance, reliability, and enterprise scale, GDP-AI leads semiconductor IP management, including IP lifecycle management, and serves as the design and IP data backbone for silicon lifecycle management.
* Investors monitor US-Iran tensions, Trump's China visit. * ECB rate hikes expected as oil prices fuel inflation fears. * Fed rate cut bets recede. By Samuel Indyk. Germany's 10-year government bond yield fell on Thursday but remained close to its recent multi-year peak as elevated energy prices solidified expectations for higher inflation and European Central Bank rate hikes.
National Bank of Canada on Wednesday reiterated its sector-perform rating on the shares of Hydro One (HRNNF) while raising its price target to C$56.00 from $55.00 following the company's first-quarter results. The bank raised the price target after incorporating the company's incremental capex guidance through 2027, as well as the Red Lake Transmission Line within longer-term estimates.
Canada's existing home sales rose 0.7% month over month in April, while new listings jumped 4.1% month over month, said TD. Canadian average home prices rose much more sharply in April, increasing 2.6% month over month, noted the bank after Thursday's release of data from the Canadian Real Estate Association.
AM Best has assigned a Long-Term Issue Credit Rating of ?bbb? to the USD 750 million, 5.25% senior unsecured notes, due 2036, issued by Liberty Mutual Group Inc.. The notes are guaranteed by Liberty Mutual Holding Company Inc. and LMHC Massachusetts Holdings, Inc. The outlook assigned to the Credit Rating is stable.
* Retail sales increase 0.5% in April, in line with expectations. * Core retail sales up 0.5%, marking fourth straight monthly gain. * Weekly jobless claims climb 12,000 to 211,000. * Import prices jump 1.9% in April; up 4.2% on a year-over-year basis. By Lucia Mutikani.
US retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated. Sales rose 0.5% in April following a revised 1.6% gain in March, the Census Bureau reported Thursday, matching the consensus in a survey compiled by Bloomberg.
National Bank of Canada on Wednesday raised Torex Gold Resources' (TORXF) price target to C$101 from $98 with an outperform rating. The higher price target was based on a higher NTM EBITDA window and using a 6.5x EV/EBITDA multiple, National Bank said.
Angola's central bank cut its benchmark lending rate by 50 basis points to 17% in a decision announced on Thursday. Inflation in the Southern African oil-producing country eased to 11.58% year-on-year in April, down from 12.42% in March. The central bank wants to bring inflation down to single digits.
Inflation is the biggest risk to a U.S. economy that has shown "remarkable resilience" in the face of numerous challenges, and the job market is stable, Kansas City Federal Reserve President Jeffrey Schmid said on Thursday. "I see continued inflation as the most pressing risk to the economy," Schmid said in prepared remarks to a banking industry conference hosted by the Kansas City Fed.
* Treasury yields retreat as oil prices drop and technical support attracts buyers. * Inflation concerns persist after strong U.S. producer price data and Middle East conflict. * Retail sales rise, jobless claims steady, Xi warns Trump on Taiwan tensions. By Karen Brettell.
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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