Russia's energy minister said on Tuesday that the country had managed to successfully re-direct its oil exports to new markets, but that oil and gas production was expected to decline in 2023.
The Bank of Japan must be ready to issue central bank digital currencies that coexist with various other forms of money to offer the public a safe digital payment system, its governor Haruhiko Kuroda said on Tuesday.
A quarter of work in major economies could be automated thanks to breakthroughs in ChatGPT-like artificial intelligence technologies, according to Goldman Sachs.
* Gold might break resistance at $2,070 in H2 - technicals. * U.S. dollar down 0.2% * Global stocks rise on Tuesday. By Kavya Guduru. Gold edged up on Tuesday as the dollar slipped, although an improvement in risk appetite after efforts by regulators to allay fears over the global banking system slowed safe haven inflows into bullion. Spot gold was up 0.2% at $1,959.63 per ounce, as of 0557 GMT.
Global stocks and U.S. bond yields rose on Tuesday, as a U.S. regulator-backed deal by First Citizens BancShares to buy failed Silicon Valley Bank soothed wider worries about problems in the sector. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.3% by early morning Hong Kong time.
Asia is expected to record weighted real GDP growth of 4.5% this year, up from the 4.2% last year, the Boao Forum for Asia said in its annual report summary on Tuesday. The report also said Asian growth is likely to be a standout in 2023 in light of the global economic slowdown.
Gold prices edged up on Tuesday as the U.S. dollar eased, although an improvement in risk appetite after efforts by regulators to contain worries over the global banking system limited the safe-haven metal's appeal . FUNDAMENTALS. * Spot gold was up 0.1% at $1,958.85 per ounce, as of 0048 GMT. * The dollar index eased 0.1%, making bullion more affordable for buyers holding other currencies.
The shuffling of deposits from small to large banks could have a disproportionate impact on U.S. small businesses that depend heavily on community and regional financial institutions for credit, Federal Reserve Governor Philip Jefferson said on Monday.
Bed Bath & Beyond Inc (BBBY) is laying off about 1,300 employees at four locations in New Jersey, including at discount health and beauty chain Harmon, a Worker Adjustment and Retraining Notification notice showed on Friday.
Central banks in the U.S. and Australia are close to pausing rate increases as they strike a balance between financial stability and inflation fighting, HSBC Australia Chief Executive Antony Shaw said on Tuesday.
Silicon Valley Bank collapsed after it took a big bet on interest rates and got it wrong, Westpac Chief Executive Peter King said on Tuesday. "They took a pretty big punt on interest rates and they got it wrong," he said at the Australian Financial Review Banking Summit in Sydney.
The shuffling of deposits from small to large banks could have a disproportionate impact on U.S. small businesses who depend heavily on community and regional financial institutions for credit, Federal Reserve Governor Philip Jefferson said on Monday.
The shuffling of deposits from small to large banks could have a disproportionate impact on U.S. small businesses who depend heavily on community and regional financial institutions for credit, Federal Reserve Governor Philip Jefferson said on Monday.
Alliant Energy Corp (LNT): * WISCONSIN POWER AND LIGHT COMPANY PRICES PUBLIC OFFERING OF GREEN BONDS. * WISCONSIN POWER AND LIGHT COMPANY - $300 MILLION IN GREEN BONDS WILL BE DUE IN 2033. * WISCONSIN POWER AND LIGHT COMPANY - PRICING OF PUBLIC OFFERING OF $300 MILLION AGGREGATE PRINCIPAL AMOUNT OF 4.950% DEBENTURES Source text for Eikon: Further company coverage:
Pioneer Natural Resources Company (PXD) today announced that it has priced a public offering of $1.1 billion of 5.100% Senior Notes that will mature March 29, 2026, pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission.
KBRA Analytics releases this month?s edition of The Bank Treasury Newsletter, the Bank Treasury Chart Deck, and Bank Talk. This month?s newsletter, Bank Treasurers Reconsider Asteroid Insurance, reviews the critical steps the Federal Reserve, FDIC, and U.S. Treasury have taken to stabilize financial markets and reassure depositors in the wake of the bank failures this month.
$300 million in green bonds will be due in 2033 Wisconsin Power and Light Company, a wholly owned subsidiary of Alliant Energy Corporation (LNT), announced the pricing of its public offering of $300 million aggregate principal amount of 4.950% debentures.
The shuffling of deposits from small to large banks could have a disproportionate impact on U.S. small businesses that depend heavily on community and regional financial institutions for credit, Federal Reserve Governor Philip Jefferson said on Monday.
The acquisition of Silicon Valley Bank by First Citizens BancShares Inc ?and rumors of?a U.S.?government's extension of emergency lending arrangements provided relief to markets and the?banking sector on Monday. But it also resulted in significant shocks in Fed interest rate expectations and Treasuries' price action.
The U.S. Federal Reserve is "still learning" how much impact its interest rate increases have had on the economy and inflation, Federal Reserve Governor Philip Jefferson said on Monday.
Freddie Mac today posted to its website its Monthly Volume Summary for February 2023, which provides information on Freddie Mac?s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments. Freddie Mac?s mission is to make home possible for families across the nation.
NEW YORK, March 27, 2023 ?Inspired Entertainment, Inc. (INSE), a leading B2B provider of gaming content, systems and solutions, announced today that Fitch Ratings? has upgraded Inspired's corporate rating to 'B' from 'B-'.
Munis held "their firmer tone as Treasuries continued to rally once more this past week," said Jason Wong, vice president of municipals at AmeriVet Securities.
WASHINGTON, March 27, 2023 Fannie Mae's ?February 2023 Monthly Summary is now available. About Fannie MaeFannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. Fannie Mae Newsroomhttps://www.fanniemae.com/newsroom.
* First Citizens to buy SVB assets; shares jump. * Bank indexes higher. * Tech shares slip. By Caroline Valetkevitch. NEW YORK, March 27 - The Dow and S&P 500 ended higher on Monday as a deal for Silicon Valley Bank's assets helped investor confidence in banks, while a decline in technology shares weighed on the Nasdaq.
* Dow and S&P up, Nasdaq lags with rate hikes in focus. * Oil prices rally while gold falls. * U.S. bank stocks rebound, bitcoin falls. * Deposits flow to money market funds, large banks. By Sin?ad Carew.
U.S. Treasury yields rose
on Monday on greater optimism that stress in the banking sector
will be contained and as the Treasury Department saw soft demand
for a sale of two-year notes.
First ...
Provident Bank, a leading New Jersey-based financial institution, today released results from its 2023 Consumer Spending Survey, which polled 1,000 adults living in the U.S. to determine how consumers are adjusting their personal spending, saving and travel habits.
* First Citizens to buy SVB assets; shares jump. * Bank indexes higher. * Indexes: Dow up 0.9%, S&P 500 up 0.5, Nasdaq down 0.1% By Caroline Valetkevitch. NEW YORK, March 27 - The Dow and S&P 500 were higher in afternoon trading Monday as a deal for Silicon Valley Bank's assets helped investor confidence in banks, while the Nasdaq edged lower.
The consensus outlook for interest rates has shifted dramatically in the last month thanks in large part to the failures of U.S. banks SVB Financial Group, Signature Bank and Silvergate Capital Corp, as well as the emergency takeover of Credit Suisse Group AG by UBS Group AG. What Happened?
Bahrain reported an increase in its GDP for 2022 with a growth rate of 4.9%, a statement from the finance ministry of Bahrain said on Monday. According to the statement this rate is the highest the Gulf kingdom has achieved since 2013. The statement also added that non-oil GDP grew by 6.2%, the highest since 2012.
The proposal would prevent the sale of asset -backed securities tainted by any material conflict of interest and commenters feel that munis should be excluded from the final rule.
Public finance veterans Marvin Markus and Mark Liff join Siebert as managing directors to focus on expanding the firm's infrastructure and higher education practices.
After the collapse of two U.S. banks and record outflows from smaller lenders, the banking industry is shifting its concern from an immediate crisis to a medium-term worry: economic growth. Deposits held by small U.S. banks dropped by a record $119 billion to $5.46 trillion after the collapse of Silicon Valley Bank on March 10, according to data released Friday by the Federal Reserve.
After the collapse of two U.S. banks and record outflows from smaller lenders, the banking industry is shifting its concern from an immediate crisis to a medium-term worry: economic growth. Deposits held by small U.S. banks dropped by a record $119 billion to $5.46 trillion after the collapse of Silicon Valley Bank on March 10, according to data released Friday by the Federal Reserve.
FITCH: * FITCH AFFIRMS NEW YORK COMMUNITY AT 'BBB'; OUTLOOK STABLE. * FITCH - SIGNATURE BRIDGE BANK DEAL ADDS LIQUIDITY TO NYCB'S BALANCE SHEET, COULD ASSIST IT IN BECOMING MORE RELATIONSHIP DRIVEN, DEPOSIT FOCUSED. * FITCH - ULTIMATE ECONOMIC VALUE OF SIGNATURE BRIDGE BANK, N.A. TRANSACTION WILL BE DETERMINED BY NYCB'S ABILITY TO RETAIN TALENT AND DEPOSITS ACQUIRED.
Overall risk sentiment is picking up after fears of a systemic financial crisis have relaxed. Cues From Monday's Trading: Large cap and blue chip stocks were up, with banks outperforming other sectors.
* First Citizens to buy SVB assets; shares jump. * Other regional banks pare gains. * Tesla gains as Barclays forecasts upbeat deliveries. * Indexes mixed: Dow up 0.57%, S&P up 0.2, Nasdaq down 0.39% By Amruta Khandekar and Ankika Biswas.
Goldman Sachs Research?predicted?widespread use of artificial intelligence will?result in strong productivity gains and stronger long-term economic growth. According to the Goldman Sachs?Macro team, AI adoption could?create about $7 trillion in global economic growth over a 10-year period, comparable to a 7% increase in annual global GDP.
Brazil's central bank monetary policy director Bruno Serra has left his position at his request, according to the official gazette on Monday, backdated to March 23, while the new administration of President Luiz Inacio Lula da Silva has yet to announce a replacement candidate. The central bank stated in a note that Serra's departure follows the end of his term on Feb. 28.
* U.S. stocks follow European stocks higher. * Oil prices climb while gold falls. * U.S. bank stocks rebound, bitcoin falls. * Deposits flow to money market funds, large banks. By Sin?ad Carew.
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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