The Canadian economy hit a clear soft patch at the start of 2026, as confirmed by last week's gross domestic product, said Scotiabank. GDP was essentially flat in Q1, coming in below all expectations and pointing to softer underlying demand pressures, noted the bank. That said, the headline weakness should be interpreted with "caution," stated Scotiabank.
CES Energy Solutions (CESDF) entered into an underwriting agreement with a syndicate of underwriters to sell, pursuant to a private placement, $300.0 million of its 5.625% senior unsecured notes due June 15, 2033, it said overnight Wednesday. The offering is expected to close on or about June 15, subject to closing conditions.
Celcuity (CELC) said late Wednesday it has priced an upsized offering of $500 million of its 0.25% convertible senior notes due 2032. Underwriters have been granted a 30-day option to purchase up to an additional $75 million of the notes.
Financial stocks fell in late Wednesday afternoon trading with the NYSE Financial Index decreasing 1% and the State Street Financial Select Sector SPDR ETF shedding 1.1%. The Philadelphia Housing Index dropped 0.4%, and the State Street Real Estate Select Sector SPDR ETF rose 0.2%. Bitcoin fell 2.5% to $65,538.2, and the yield for 10-year US Treasuries rose 3.6 basis points to 4.49%. In economi...
Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.9% and the State Street Financial Select Sector SPDR ETF shedding 1.1%. The Philadelphia Housing Index was down 0.7%, and the State Street Real Estate Select Sector SPDR ETF was up 0.3%. Bitcoin was falling 2.5% to $65,538.2, and the yield for 10-year US Treasuries rose 3.6 basis points t...
US economic activity increased at "a slight to moderate" pace in 10 of the 12 Federal Reserve districts since mid-April, though underlying signs were less encouraging, the Fed's latest Beige Book released Wednesday showed.
Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.8% and the State Street Financial Select Sector SPDR ETF shedding 0.9%. The Philadelphia Housing Index was down 0.9%, and the State Street Real Estate Select Sector SPDR ETF was up 0.7%. Bitcoin was falling 2.4% to $65,724, and the yield for 10-year US Treasuries was rising 5 basis points to 4...
Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.8% and the State Street Financial Select Sector SPDR ETF shedding 1%. The Philadelphia Housing Index was down 0.9%, and the State Street Real Estate Select Sector SPDR ETF was up 0.6%. Bitcoin was falling 1.2% to $65,838, and the yield for 10-year US Treasuries was rising 4 basis points to 4.4...
The US services sector saw continued expansion in May, with Institute for Supply Management data showing a faster growth rate sequentially, but S&P Global (SPGI) pointing to a deceleration. The ISM's purchasing managers' index rose to 54.5 last month from 53.6 in April.
Canada's gross domestic product has now contracted for two consecutive quarters and the recession word is making the rounds again, said TD after Friday's Q1 GDP data. Defining a recession in Canada isn't as straightforward as the popular "two consecutive quarters of negative GDP" rule of thumb, writes the bank in a note to clients.
All three major US stock indexes were down late-morning Wednesday, as oil prices and US Treasury yields rose amid concerns about the ongoing conflict between the US and Iran. In company news, Alphabet upsized its equity capital raise to $84.75 billion from the previously announced $80 billion, according to a regulatory filing Tuesday.
The Organization for Economic Co-operation and Development lowered its global economic growth projection for 2026, cautioning that the fallout from the Middle East conflict may linger for some time even after its resolution.
Canada's Q1 gross domestic product weakness prompts UBS to lower its 2026 growth forecast to 1.0%, although the headline technical recession overstates the degree of underlying softness given volatile trade and inventory swings. While the picture isn't all negative, the bank has lowered its forecast for real GDP growth in 2026.
The Institute for Supply Management's US services index rose to a reading of 54.5 in May from 53.6 in April, compared with expectations for a smaller increase to a reading of 53.8 in a survey compiled by Bloomberg.
ADP's monthly measure of private payrolls showed a 122,000 increase in May, slightly above expectations compiled by Bloomberg as of 7:30 am ET for an increase of 120,000.
Celcuity (CELC) said Wednesday it plans to issue $400 million in convertible senior notes due 2032 through an underwritten public offering. The company said it intends to grant underwriters a 30-day option to purchase up to an additional $60 million of notes for over-allotments. Celcuity (CELC) said the terms, including interest and conversion rates, will be determined at pricing.
Societe Generale in its early Wednesday economic news summary pointed out: -- Bond yields, US dollar carry over gains after the strongest gain in JOLTS job openings since April 21. -- ECB: European Central Bank Governing Council member Pierre Wunsch repeats case for June rate hike in FT, says if the U.S. and Iran agree to a peace deal, the discussion "might be a bit less easy.
Cemex priced a $1.5 billion offering of its 5.75% senior notes due June 5, 2036, at 99.572% of face value, the company said late Tuesday. Cemex expects the offering to close Friday and plans to use the net proceeds for general corporate purposes. MT Newswires does not provide investment advice.
IQVIA (IQV) plans to raise 950 million euros through an offering of senior notes due 2033, the company said Wednesday. The proceeds from the debt offering will be used to refinance other debt, the company said. MT Newswires does not provide investment advice.
Financial stocks were higher in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF increasing 0.3%. The Philadelphia Housing Index was adding 0.8%, and the State Street Real Estate Select Sector SPDR ETF was up 0.4%. Bitcoin was dropping 6.5% to $66,793, and the yield for 10-year US Treasuries decreased 2.4 basis point...
Financial stocks were advancing in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF increasing 0.2%. The Philadelphia Housing Index was adding 0.7%, and the State Street Real Estate Select Sector SPDR ETF was up 0.3%. Bitcoin was dropping 5.9% to $67,131, and the yield for 10-year US Treasuries decreased 2 basis poin...
Based on data from the Real Estate Board of Greater Vancouver, National Bank of Canada's preliminary estimate is that seasonally adjusted home sales edged up 0.5% from April to May, the first increase in three months.
Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF increasing 0.2%. The Philadelphia Housing Index was adding 0.7%, and the State Street Real Estate Select Sector SPDR ETF was up 0.4%. Bitcoin was dropping 5.9% to $67,321, and the yield for 10-year US Treasuries was decreasing 1.6 basis po...
Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF increasing 0.1%. The Philadelphia Housing Index was adding 0.6%, and the State Street Real Estate Select Sector SPDR ETF was up 0.3%. Bitcoin was dropping 5.2% to $67,610, and the yield for 10-year US Treasuries was decreasing 1.6 basis po...
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood Scores, according to ICE Climate Data. A $16 million offering from Greenpoint Union Free School District, N.Y., records a Flood Risk Score of 5.0 out of 5.0, ICE reports.
Dorman Products (DORM) has commenced a private offering of $450 million in senior notes due 2034, the automotive aftermarket supplier said Tuesday. The notes will be guaranteed by Dorman's domestic subsidiaries, with pricing terms to be determined later.
Veon (VEON) completed a $1.4 billion dual-tranche senior unsecured notes offering, using the proceeds to refinance substantially all of its debt maturing in 2027 ahead of schedule, the company said Tuesday. The offering included $700 million of 6.95% senior notes maturing in 2031 and $700 million of 7.45% senior notes due 2033, with both tranches issued at par.
The Goodyear Tire & Rubber (GT) priced a $1.05 billion offering of senior unsecured notes due 2032, carrying an annual interest rate of 8.875%, the company said Monday. The tire maker said the proceeds will be used primarily to refinance about $817 million of outstanding senior notes due 2027, with any remaining funds allocated to general corporate purposes. The offering is expected to close Thursday.
Financial stocks fell in late Monday afternoon trading with the NYSE Financial Index shedding 0.4% and the State Street Financial Select Sector SPDR ETF decreasing 0.2%. The Philadelphia Housing Index lost 0.4%, and the State Street Real Estate Select Sector SPDR ETF fell 1.4%. Bitcoin shed 3% to $71,366, and the yield for 10-year US Treasuries rose 2.2 basis points to 4.475%. In economic news,...
Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index shedding 0.5% and the State Street Financial Select Sector SPDR ETF decreasing 0.3%. The Philadelphia Housing Index was down 0.4%, and the State Street Real Estate Select Sector SPDR ETF fell 1.4%. Bitcoin was declining 3% to $71,366, and the yield for 10-year US Treasuries rose 2.2 basis points to 4.475...
Bank of Canada Senior Deputy Governor Carolyn Rogers cautioned against concluding the country is in a recession after recent data showed the economy contracted for a second consecutive quarter, Bloomberg is reporting Monday. "Two quarters of annualized contraction in GDP does meet one definition of a recession.
Bank of Canada Senior Deputy Governor Carolyn Rogers cautioned against concluding the country is in a recession after recent data showed the economy contracted for a second consecutive quarter, Bloomberg is reporting Monday. "Two quarters of annualized contraction in GDP does meet one definition of a recession.
Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index shedding 0.6% and the State Street Financial Select Sector SPDR ETF decreasing 0.5%. The Philadelphia Housing Index was down 0.8%, and the State Street Real Estate Select Sector SPDR ETF fell 1%. Bitcoin was declining 2.9% to $71,425, and the yield for 10-year US Treasuries rose 2.8 basis points to 4.48%. In ...
Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index shedding 0.6% and the State Street Financial Select Sector SPDR ETF decreasing 0.5%. The Philadelphia Housing Index was down 0.8%, and the State Street Real Estate Select Sector SPDR ETF fell 1%. Bitcoin was declining 2.9% to $71,425, and the yield for 10-year US Treasuries rose 2.8 basis points to 4.48%. In ...
The US manufacturing sector expanded to its highest level in four years last month amid strength in demand and production, though price pressures remained elevated, two separate surveys showed Monday. The Institute for Supply Management's purchasing managers' index increased to 54 in May from 52.7 the month prior, reaching its highest reading since May 2022.
B&G Foods (BGS) said Monday it plans to issue $475 million of senior notes due 2031. The company will use the net proceeds, cash, and revolving credit facility borrowings to redeem $509.3 million of outstanding 5.25% senior notes due 2027, it said. Certain domestic units will guarantee the securities on a senior unsecured basis, the company said.
Friday's Q1 gross domestic product figures in Canada, including revisions, stunned everyone in consensus and at the Bank of Canada, said Scotiabank. Consensus had forecast about 1.5% quarter-over-quarter seasonally adjusted annual rate growth with a trimmed range between about 1% to 2% and the BoC's projection in the April Monetary Policy Report was 1.5%, noted the bank.
Canada's Q1 gross domestic product didn't just underperform expectations as it was "outright terrible," falling by 0.1% quarter-over-quarter annualized, said Rosenberg Research after Friday's GDP data. The consensus expectation was for a gain of 1.5%, due largely to an expected rebound in inventories after a large drawdown in Q4. Yet, GDP still fell, noted Rosenberg Research.
The Canadian Labour Force Survey this week will draw close scrutiny after it emerged that on Friday the economy slipped into a technical recession for the first time since 2020, said Societe Generale. Canada will release the LFS for May this Friday, at 8:30 a.m. ET.
The Institute for Supply Management's US manufacturing index rose to 54.0 in May from 52.7 in April, compared with expectations for a smaller increase to 53.0 reading in a survey compiled by Bloomberg as of 7:30 am ET. The index indicates faster expansion, and it is the highest reading since May 2022.
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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