The S&P 500 and Nasdaq forged new record highs on Thursday, and the dollar and Treasury yields fell after the U.S. and Iran agreed to extend their ceasefire, while investors also digested the latest U.S. inflation and revised economic growth figures.
National Bank of Canada initiated coverage on the shares of Rio2 (RIOFF) with an outperform rating and a C$5.50 target price, with a focus on the company's Fenix and Condestable mines. The company's flagship asset is the Fenix Gold mine in Chile's Atacama Region, which achieved first gold pour on Jan. 23.
The S&P 500 and Nasdaqforged new record highs on Thursday, and the dollar and Treasury yields fell after the U.S. and Iran agreed to extend their ceasefire, while investors also digested the latest U.S. inflation and revised economic growth figures.
* US crude settles higher, Brent settles down. * US first-quarter GDP revised lower. * Orders for capital goods unexpectedly drop. * US inflation data seen above target. * Fed rate hike expectations rise. * Dollar weakens against euro, yen. By Stephen Culp.
The Toronto Stock Exchange closed higher on Thursday, its first winning session since Monday's record close, with the resource-heavy index buoyed by improved commodity prices, a continuing belief among investors that equity market fundamentals are strong, bullish comments from Canada Prime Minister Mark Carney in New York and cautious positivity on the economy from the Bank of Canada.
Apparel retailer Gap cut its annual sales forecast on Thursday, signaling pressure from budget-strained Americans pulling back on discretionary spending amid macroeconomic uncertainty. The company, which is undergoing a turnaround, joined affordable luxury goods maker Tapestry in expecting weak sales growth in the current quarter amid pressured demand for its brands, including Old Navy.
The US economy expanded at a slower rate in the first quarter than previously estimated as consumer spending growth decelerated, the Bureau of Economic Analysis' second estimate showed Thursday. Real gross domestic product increased at a 1.6% annualized rate in the March quarter, down from a 2% increase reported in the initial estimate.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of the operating affiliates of Allied World Assurance Company Holdings, Ltd.?s, collectively referred to as Allied World.
Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index decreasing 0.6% and the State Street Financial Select Sector SPDR ETF down 0.3%. The Philadelphia Housing Index eased 0.4%, and the State Street Real Estate Select Sector SPDR ETF shed 0.4%. Bitcoin was falling 1.3% to $73,401, and the yield for 10-year US Treasuries decreased 2.6 basis points to 4.455...
Yields on benchmark U.S. Treasury notes fell on Thursday as the United States and Iran reached an agreement on a memorandum of understanding to extend their ceasefire for another 60 days, a step toward ending their three-month-old war. "What the numbers point to today is simply that we have a stagflation problem," said Peter Cardillo, chief market economist at Spartan Capital Securities.
* Musalem, Cook say rate hike may be needed if inflation doesn't ease. * April PCE inflation rose 3.8% year-on-year, driven by higher energy prices. * Debate intensifies over AI's potential to cool inflation, with Musalem and Goolsbee skeptical. By Ann Saphir.
Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index decreasing 0.6% and the State Street Financial Select Sector SPDR ETF down 0.3%. The Philadelphia Housing Index eased 0.4%, and the State Street Real Estate Select Sector SPDR ETF shed 0.4%. Bitcoin was falling 1.3% to $73,401, and the yield for 10-year US Treasuries decreased 2.6 basis points to 4.455...
* Crude drifts higher amid continued closure of the Strait of Hormuz. * US GDP revised lower, orders for capital goods unexpectedly drop. * Fed rate hike expectations rise as U.S. inflation data seen above target. * Dollar weakens against euro, yen. By Stephen Culp.
* Canadian dollar gains 0.4% against the greenback. * Rebounds from six-week low at 1.3869. * Current account deficit widens to C$7.18 billion. * Bond yields ease across the curve. By Fergal Smith. The Canadian dollar rebounded from a six-week low against its U.S. counterpart on Thursday as the prospect of a deal to extend the ceasefire in the Middle East boosted risk appetite.
Fed Vice Chair Philip Jefferson said that he remains focused on bringing inflation down to the 2% goal but would not comment on the future path of monetary policy, saying that he is taking a meeting-by-meeting approach. Fed Governor Lisa Cook said that she is prepared to raise interest rates if inflation remains elevated but said that she is expecting inflation to slow without rate increases.
The second estimate of Q1 GDP showed a 1.6% gain after a 0.5% increase in the previous quarter, but a downward adjustment from a 2% gain in the advance estimate. Personal spending growth was revised down 1.4% from a 1.6% increase in the advance estimate, below a 1.9% increase in the previous quarter.
The Maryland Economic Development Corporation and the Internal Revenue Service have reached a resolution in a tax squabble over a bond issuance where proceeds of the sale were not spent within a three-year time window.
One of new Federal Reserve Chairman Kevin Warsh's favorite inflation measures came in cool again on Thursday, offering evidence for his belief inflation is improving and against the view of a growing number of other policymakers that interest rate hikes may be needed to tamp down rising price pressures.
* Dallas Fed's trimmed mean inflation measure may currently understate true price pressures. * Core PCE inflation rose 3.3% year-over-year, fastest since 2023, per Commerce Department. * Warsh has said he prefers "trimmed averages" to core inflation measures. By Ann Saphir.
Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF down 0.4%. The Philadelphia Housing Index eased 0.2%, and the State Street Real Estate Select Sector SPDR ETF added 0.1%. Bitcoin was falling 1.3% to $73,337, and the yield for 10-year US Treasuries was down 3 basis points at 4.45%. In ec...
Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF down 0.4%. The Philadelphia Housing Index eased 0.2%, and the State Street Real Estate Select Sector SPDR ETF added 0.1%. Bitcoin was falling 1.3% to $73,337, and the yield for 10-year US Treasuries was down 3 basis points at 4.45%. In co...
Fannie Mae: * FANNIE MAE ANNOUNCES SALE OF REPERFORMING LOANS. * FANNIE MAE - SALE CONSISTS OF 2333 LOANS WITH $565 MILLION UNPAID PRINCIPAL BALANCE Source text: Further company coverage:
June redemptions are $44.4 billion. July and August will see $37.7 billion and $38.4 billion returned, respectively, said Pat Luby, head of municipal strategy at CreditSights.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of Popular Life Re. The ratings reflect PLRe?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
A growing number of U.S. central bankers say there may be a case for raising interest rates if inflation does not ease soon, even as they express skepticism over the power of AI to help that process along. The combination sets the table for a heated debate at Federal Reserve Chairman Kevin Warsh's first policy-setting meeting next month.
* Musalem says he would be concerned if disinflation doesn't resume in coming quarters. * April PCE inflation rose 3.8% year-on-year, driven by higher energy prices. * Musalem cautions against betting that AI-driven productivity will curb inflation. By Ann Saphir.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.53%. ?The 30-year fixed-rate mortgage averaged 6.53% this week,? 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.
Federal Reserve Financial Services today announced the upcoming retirement of Mark Gould, Chief Payments Executive, culminating a distinguished career spanning more than three decades of leadership, thoughtful stewardship, and service to the nation?s payments system.
National Bank of Canada on Thursday reiterated its outperform rating on the shares of Cameco (CCJ) and and its C$180 price target after the company resumed much of its its northern Saskatchewan uranium operations. Cameco (CCJ) resumed full production at the McArthur River mine and Key Lake mill in Saskatchewan after a flooding-related logistics disruption announced on May 11.
Bank of Canada views households and businesses as being in "stable condition," said Desjardins after Thursday's presentation of the BoC's 2026 Financial Stability Report. While household debt levels remain elevated, the FSR pointed out that wealth has been on the rise, noted the bank. That said, there have been pockets of weakness even within mortgage holders, stated Desjardins.
Annual inflation hit the highest reading in almost three years in April even as consumer spending moderated in the face of high gasoline prices in the US. The personal consumption expenditure price index jumped 3.8% year over year in April, the largest print since May 2023, Bureau of Economic Analysis data showed Thursday.
* Crude drifts higher amid continued closure of the Strait of Hormuz. * US GDP revised lower, orders for capital goods unexpectedly drop. * Fed rate hike expectations rise as U.S. inflation data seen above target. * Dollar weakens against euro, yen. By Stephen Culp.
* Personal Consumption Expenditures Price Index rises 3.8% on year-over-year basis in April. * Core PCE inflation advances 3.3% on year-over-year basis, versus Fed's 2% target. * Consumer spending gains 0.5% * Income at the disposal of households after adjusting for inflation falls 0.5% By Lucia Mutikani.
AM Best has upgraded the Long-Term Issuer Credit Rating to ?bb+? from ?bb? and affirmed the Financial Strength Rating of B of Life Insurance Corporation B.S.C.. The outlook of these Credit Ratings is stable.
Canada's financial system has functioned well through a challenging year as households and businesses remain in stable financial condition, and banks have strengthened their capacity to absorb shocks, said Bank of Canada on Thursday. However, vulnerabilities have increased in some parts of the system, noted the central bank in its annual Financial Stability Report.
Yields on benchmark U.S. Treasury notes fell late Thursday morning following a media report that the United States and Iran had made a breakthrough in their efforts to end their three-month-old war.
KANSAS CITY, Mo., May 28, 2026 American Century Investments, a $330 billion global asset manager*, expands its exchange traded fund platform with the launch of American Century Securitized Credit ETF, an actively-managed solution designed to complement core bond allocations with diversification benefits.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of Berkeley Re Designated Activity Company. The ratings reflect Berkeley Re?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
St. Louis Federal Reserve President Alberto Musalem on Thursday offered a skeptical view of the expectation that artificial intelligence will reduce inflation by fueling a surge in productivity, arguing it would be a mistake for the U.S. central bank to count on that possibility by easing monetary policy.
Federal Reserve Bank of New York President John Williams said on Thursday central bank monetary policy is in the right place given the outlook, adding he expects inflation to be high in the near term with the pressures easing later in the year. "Right now monetary policy for the Fed is, is right where we want it to be," Williams said at the Reykjav?k Economic Conference in Iceland.
Market Intelligence analyst Jeff Lipton explains why energy prepays have become a popular SMA allocation for yield and diversification, while warning that financial institution counterparty concerns and "guilt-by-association" bank headlines can still trigger episodic spread widening.
Yields on benchmark U.S. Treasury notes retreated from earlier highs on Thursday morning following a batch of mixed economic data showing weaker growth, softening consumer income, steady inflation and falling orders in a key durable goods category. Meanwhile markets continued to shrug off persistent violence in the US conflict with Iran as Washington and Tehran work toward an agreement.
WASHINGTON, May 28, 2026 Fannie Mae today began marketing its most recent sale of?reperforming loans. The sale consists of approximately 2,333 loans, having an unpaid principal balance of approximately $565 million, and is available for purchase by qualified bidders.
Royal Bank of Canada (RY) reported second-quarter financial results on Thursday. This transcript is brought to you by Benzinga APIs. Access the full call at https://edge.media-server.com/mmc/p/2hjtq8wq/ Watch the full earnings call below: Royal Bank of Canada (RY) reported earnings of $5.5 billion and adjusted earnings of $5.6 billion, marking the second-highest quarterly performance on record.
Royal Bank of Canada (RY) released second-quarter financial results and hosted an earnings call on Thursday. This transcript is brought to you by Benzinga APIs.
Canada's current account deficit widened to $7.2 billion, or $28.7 billion a.r., in Q1, following a shortfall of $1.0 billion, or $4.0 billion a.r., in Q4 2025, noted Bank of Montreal after Thursday's data. This amounts to an estimated 0.9% GDP, in line with recent norms, BMO said, while noting the latest GDP data will be released Friday.
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.
Log In Required
Publication Date