Element Fleet Management Corp. (ELEEF), the largest publicly traded pure play automotive fleet manager in the world and a global leader in intelligent fleet and mobility solutions, today announced that it has agreed to sell US$500 million aggregate principal amount of 4.800% Senior Notes due 2029 in a private offering that will not be registered under the Securities Act of 1933, as amended.
World stocks, the S&P 500 and Nasdaq rose to new highs on Tuesday, driven again by an unyielding optimism around artificial intelligence that lifted U.S. chipmaker Micron Technology into the $1 trillion club and offset uncertainty around a U.S.-Iran peace deal. In my column today, I look at how the steep selloff in U.S. Treasuries has made some corporate bonds more appealing than sovereign debt.
World stocks, the S&P 500 and Nasdaq rose to new highs on Tuesday, driven again by an unyielding optimism around artificial intelligence that lifted U.S. chipmaker Micron Technology into the $1 trillion club and offset uncertainty around a U.S.-Iran peace deal. In my column today, I look at how the steep selloff in U.S. Treasuries has made some corporate bonds more appealing than sovereign debt.
The Trump administration's top trade official said on Tuesday that the U.S. plans tariffs on its North American free trade partners and has significant trade issues with Canada. "We're going to have tariffs as long as we have a giant trade deficit," U.S. Trade Representative Jamieson Greer said at a forum.
PBF Energy (PBF) has priced $500 million of 7.25% senior notes due 2034 in a private offering, the company said late Tuesday. The notes will be co-issued with PBF Energy's (PBF) subsidiary PBF Holding, the company said, adding that PBF Holding intends to use the net proceeds from the offering to fund the redemption in full of its outstanding 6% senior notes due 2028.
* Chip prices surge, putting Nasdaq out front. * Brent crude rises, WTI falls as US strikes on Iran dampen peace hopes. * ECB's Isabel Schnabel signals need for rate hike in June regardless of peace progress. * US Treasury yields fall as inflation worries ebb. By Stephen Culp.
Viridian Therapeutics (VRDN) said on Tuesday it has signed a manufacturing agreement with WuXi
Biologics (WXIBF) to support commercial supply of its experimental drug if approved. * WuXi
Biologics (WXIBF) will make and supply both the drug substance and final product for veligrotug, Viridian's treatment for thyroid eye disease, a condition that causes eye swelling and vision problems.
PARSIPPANY, N.J., May 26, 2026 PBF Energy Inc. (PBF) today announced that its indirect subsidiary, PBF Holding Company LLC, priced $500 million in aggregate principal amount of 7.25% senior notes due 2034 in a private offering.
Yields on U.S. government bonds held to lower levelson Tuesday, as hopes for a breakthrough deal to reopen the Strait of Hormuz had investors relaxing a bit about the inflation outlook at the start of a holiday-shortened week featuring major U.S. economic data releases.
Financial stocks were mixed late Tuesday afternoon, with the NYSE Financial Index rising 0.3% and the State Street Financial Select Sector SPDR ETF decreasing 0.2%. The Philadelphia Housing Index climbed 1.9%, and the State Street Real Estate Select Sector SPDR ETF rose 0.4%. Bitcoin fell 1.8% to $75,824, and the yield for 10-year US Treasuries dropped 6.5 basis points to 4.493%. In economic ne...
* Dollar rises against euro and Swiss franc. * Iran says U.S. has violated ceasefire after fresh U.S. attacks. * Prospect of Strait of Hormuz reopening had lifted risk appetite. * Safe-haven dollar finds favour as investors turn more cautious. By Chibuike Oguh.
Financial stocks were mixed late Tuesday afternoon, with the NYSE Financial Index rising 0.3% and the State Street Financial Select Sector SPDR ETF decreasing 0.2%. The Philadelphia Housing Index climbed 1.9%, and the State Street Real Estate Select Sector SPDR ETF rose 0.4%. Bitcoin fell 1.8% to $75,824, and the yield for 10-year US Treasuries dropped 6.5 basis points to 4.493%. In corporate n...
* U.S. strikes in Iran spark renewed Middle East. * Strait of Hormuz shipping remains restricted, some tankers pass amid ongoing risks. * U.S. consumer confidence dips as inflation fears rise due to Iran conflict. * U.S. futures fall, catching up to Brent's Monday selloff. By Scott DiSavino.
The Conference Board's Consumer Confidence Index fell to 93.1 in May from a 93.8 reading in April due to a decline in the present situation that was offset by an increase in the expectations index. The Conference Board cited the negative impact of the war in the Middle East as a key factor. The Dallas Federal Reserve's manufacturing reading rose to 0.4 in May from minus 2.3 in April.
US consumer confidence fell in May amid mounting inflation concerns as the Middle East conflict has stretched for about three months now, a survey by the Conference Board showed Tuesday. The consumer confidence index ticked down to 93.1 this month from April's upwardly revised reading of 93.8. The consensus was for a 92 print in a Bloomberg survey.
Financial stocks were mixed in Tuesday afternoon trading with the NYSE Financial Index rising 0.2% and the State Street Financial Select Sector SPDR ETF falling 0.4%. The Philadelphia Housing Index climbed 1.5%, and the State Street Real Estate Select Sector SPDR ETF increased 0.4%. Bitcoin fell 1.4% to $76,197, and the yield for 10-year US Treasuries dropped 5.6 basis points to 4.502%. In sect...
* Consumer confidence index decreases 0.7 points to 93.1 in May. * Share of consumers viewing jobs as not plentiful at highest level since 2021. * Consumers' write-in responses on factors affecting the economy continued to skew towards pessimism. By Lucia Mutikani.
Financial stocks were mixed in Tuesday afternoon trading, with the NYSE Financial Index rising 0.2% and the State Street Financial Select Sector SPDR ETF decreasing 0.2%. The Philadelphia Housing Index was climbing 1.4%, and the State Street Real Estate Select Sector SPDR ETF increased 0.4%. Bitcoin was falling 1.4% to $76,197, and the yield for 10-year US Treasuries was dropping 5.6 basis poin...
* Canadian dollar falls 0.1% against the greenback. * Trades in a range of 1.3800 to 1.3821 per U.S. dollar. * Price of oil declines 2.6% * Bond yields rise across the curve. By Fergal Smith. The Canadian dollar edged lower against its U.S. counterpart on Tuesday as investors weighed comments by a senior Bank of Canada policymaker and looked ahead to quarterly GDP data at the end of the week.
AM Best has assigned a Financial Strength Rating of B+ and a Long-Term Issuer Credit Rating of ?bbb-? to Aseguradora del Sur C.A.. The outlook assigned to these Credit Ratings is stable. The ratings reflect Asur?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
* Brent crude oil rose more than 4% * US Personal Consumption Expenditures data due on Thursday. * UBS lowers year-end gold price target. By Anjana Anil. Gold fell more than 1% on Tuesday, pressured by bets of higher U.S. interest rates this yearas renewed U.S. military strikes on Iran dampened hopes for a peace deal, pushed up oil prices and revived inflation concerns.
Ormonde said a significant portion of his practice will remain focused on California tax matters even as he works with colleagues across the firm's SALT team.
* Iran says U.S. has violated ceasefire after fresh U.S. attacks. * Dollar rises against Euro and Swiss franc. * Prospect of Strait of Hormuz reopening had lifted risk appetite. * Safe-haven dollar finds favour as investors turn more cautious. By Chibuike Oguh.
* Chip prices surge, putting Nasdaq outfront. * Brent crude rises, WTI falls as U.S. strikes in Iran dampen peace hopes. * ECB's Isabel Schnabel signals need for rate hike in June regardless of peace progress. * U.S. Treasury yields rise as inflation worries ebb. By Stephen Culp.
The Dallas Fed's monthly manufacturing index rebounded to a reading of 0.4 in May from minus 2.3 in April, compared with expectations for a smaller increase to a reading of 0.0. The index indicates a return to expansion which is in line with the New York Fed, Kansas City Fed and the S&P global flash measures but in contrast with the Philadelphia Fed index that suggested contraction.
The Bank of Canada released several reports on Monday, which underpin their macro estimates, said Rosenberg Research. The BoC published three detailed assessments on major economic questions: the neutral rates of interest in Canada and the United States, Canada's potential growth rate, and the potential growth rate globally.
U.S. consumer confidence eased in May as worries about inflation linked to the war in Iran intensified and households' views of the labor market were largely pessimistic, though they anticipated an improvement by the end of this year.
U.S. consumer confidence eased in May as worries about inflation linked to the war with Iran intensified, offsetting an improvement in households' perceptions of the labor market, a survey showed on Tuesday. "Consumer confidence edged downward in May as the inflationary impacts of the war in the Middle East intensified," said Dana Peterson, chief economist at the Conference Board.
Worthington Steel (WS) said Tuesday its subsidiary, WS Escrow, plans to issue $900 million in senior secured notes due 2033. The company said it plans to use the proceeds, along with funds from a new term loan, mainly to support its planned acquisition of Kloeckner. The notes offering is not conditioned on the consummation of the Kloeckner acquisition, the company added.
The Conference Board's measure of consumer confidence fell to 93.1 in May from 93.8 in April, still above a reading of 92.0 expected in a survey compiled by Bloomberg as of 7:30 am ET. The present situation reading fell to 121.2 from 124.4, while the expectations reading increased to 74.4 from 73.4. The current assessments of both employment and business conditions deteriorated in April.
Wall Street lenders are urging the Federal Reserve to formalize recent supervisory changes to reduce the risk of future policy reversals, Reuters reported Tuesday, citing people familiar with the matter. Banks want clearer legal backing for the Fed's shift to an "observations" framework, citing concerns over legal ambiguity and potential future policy reversal, according to the report.
Element Fleet Management (ELEEF) intends to sell senior unsecured notes in a proposed private offering that will not be registered under the Securities Act of 1933, as amended, subject to market and other conditions, it said on Tuesday.
New data from The Bond Buyer finds more than half of respondents agreed that private sector partners stand to benefit the most from the increased use of P3s.
Confidence Dipped Slightly as Price Shocks from Middle East Conflict Persist NEW YORK, May 26, 2026 The Conference Board?Consumer Confidence Index??dipped 0.7 points to 93.1 in May, down from an upwardly revised 93.8 in April.
Yields on U.S. government bonds fell Tuesday, as hopes for a breakthrough deal to reopen the Strait of Hormuz had investors relaxing a bit about the inflation outlook, ahead of a busy day of debt auctions headlined by a two-year sale. U.S. President Donald Trump on Monday had signaled negotiations to end the conflict with Iran were proceeding "nicely."
* Brent crude oil rose more than 3% * US Personal Consumption Expenditures data due on Thursday. * UBS lowers year-end gold price target. By Anjana Anil. Gold fell more than 1% on Tuesday on bets of higher U.S. interest rates this year, with U.S. military strikes on Iran dialing back hopes of a peace deal, elevating oil prices, and bringing inflation concerns to the forefront.
Most of Bank of Canada Deputy Governor Nicolas Vincent's Tuesday speech in Quebec was devoted to highlighting the weakness in the country's labor market, including the 'low-hire, low-fire nature', the elevated youth unemployment and the record average length of joblessness amongst those looking for work, said Royce Mendes over at Desjardins.
U.S. single-family house prices edged up in March, but further increases are unlikely as the war with Iran pushes mortgage rates higher, dampening housing demand. House prices gained 0.1% after a downwardly revised 0.1% dip in February, the Federal Housing Finance Agency said on Tuesday. They increased 1.7% in the 12 months through March, after rising by the same margin in February.
The Bank of Canada on Tuesday said structural changes in the labor market were making its job more complicated adding that if it reacted wrongly, inflationary pressures could rise. Deputy governor Nicolas Vincent said that while the central bank could handle the impact of cyclical forces through changes in interest rates, deeper challenges were harder to control.
U.S. single-family house prices edged up in March, but further increases are unlikely as the war with Iran pushes mortgage rates higher, dampening housing demand. House prices gained 0.1% after a downwardly revised 0.1% dip in February, the Federal Housing Finance Agency said on Tuesday. They increased 1.7% in the 12 months through March, after rising by the same margin in February.
By Jamie McGeever. The list of reasons not to own U.S. Treasuries is lengthening. This isn't a new phenomenon, but it is attracting renewed attention as sentiment towards Treasuries sours in the face of rising inflation, deteriorating public finances, and growing doubts that policymakers have the heart to tackle either.
The persistence of energy price shocks will be a key factor guiding the European Central Bank's next policy decision, Dutch central bank chief Olaf Sleijpen said on Tuesday. Sleijpen reiterated that the ECB's objective at its next rate-setting meeting in two weeks remains price stability and that any decision will depend on how inflation dynamics evolve.
The Case-Shiller National Home Price index rose by 0.7% in March before seasonal adjustment following a 0.3% increase in February. National home prices were up 0.7% year-over-year, down from 0.8% in February.
The FHFA's measure of home prices rose by 0.1% in March after a revised 0.1% decrease in the previous month, as expected in a survey compiled by Bloomberg as of 7:30 am ET. Prices were up 1.7% from a year earlier in March. For Q1 as a whole, home prices rose by 0.5% from the previous quarter and were up 1.7% compared with the same quarter a year earlier.
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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