California Resources (CRC) said late Wednesday it priced an upsized private offering of $350 million of 7% senior unsecured notes due 2034. The offering is expected to be completed on March 23, subject to closing conditions, according to a statement. Net proceeds will be used to redeem $350 million of its 8.25% senior unsecured notes due 2029, the company said.
Baker Hughes (BKR) said late Wednesday it has issued $6.50 billion in debt consisting of five tranches of senior unsecured notes, including $500 million of 4.050% notes due 2029. The firm said it also issued 3 billion euros in debt consisting of four tranches of senior unsecured notes, including 600 million euros of 3.226% notes due 2030.
US equity indexes closed mixed on Wednesday, as government bond yields surged with the dollar after Israel-Iran fighting intensified, outweighing a planned record release of crude oil reserves by the International Energy Agency.
CFRA, an independent research provider, has provided MT Newswires with the following research alert. CRM announces its largest-ever bond sale, a $25B eight-part offering with maturities ranging from two to 40 years, marking the company's first U.S. investment-grade debt issuance since 2021. MT Newswires does not provide investment advice.
Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index falling 1.2% and the State Street Financial Select Sector SPDR ETF retreating 1%. The Philadelphia Housing Index was dropping 1.7%, and the State Street Real Estate Select Sector SPDR ETF was down 1.4%. Bitcoin was increasing 0.8% to $70,533, and the yield for 10-year US Treasuries rose 7.2 basis poin...
The consumer price index rose by 0.3% in February and was up 0.2% excluding food and energy prices, both right on expectations. The gain maintained the year-over-year increase at 2.4%, while the core measure was unchanged at a 2.5% increase.
Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index falling 1.2% and the State Street Financial Select Sector SPDR ETF retreating 1%. The Philadelphia Housing Index was dropping 1.7%, and the State Street Real Estate Select Sector SPDR ETF was down 1.4%. Bitcoin was increasing 0.8% to $70,533, and the yield for 10-year US Treasuries rose 7.2 basis poin...
Gold traded lower midafternoon Wednesday as the dollar rose after a U.S. inflation measure rose in line with expectations February, lowering hopes the Federal Reserve will cut interest rates. Gold for April delivery was last seen down $61.70 to US$5,180.40 per ounce.
Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index falling 1.3% and the State Street Financial Select Sector SPDR ETF retreating 1.2%. The Philadelphia Housing Index was dropping 1.4%, and the State Street Real Estate Select Sector SPDR ETF was down 1.1%. Bitcoin was up 1.4% at $70,958, and the yield for 10-year US Treasuries was rising 7.4 basis points to...
Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each falling 1.1%. The Philadelphia Housing Index was dropping 1.5%, and the State Street Real Estate Select Sector SPDR ETF was down 1%. Bitcoin was up 1.4% at $70,958, and the yield for 10-year US Treasuries was rising 7.4 basis points to 4.21%. In co...
US equity indexes were mixed as government bond yields rose around midday Wednesday after fighting between Iran and Israel reportedly intensified, outweighing plans unveiled by the International Energy Agency to release record crude oil reserves.
US equity indexes fell as government bond yields rose around midday Wednesday after the International Energy Agency confirmed plans for a record release of crude oil reserves, and fighting between Iran and Israel reportedly intensified.
Annual consumer inflation in the US held steady last month, though analysts cautioned that a spike in energy prices in the aftermath of the Middle East conflict poses upside risks to inflation. The consumer price index grew 2.4% year-on-year, unchanged from January and meeting a Bloomberg-polled consensus, the Bureau of Labor Statistics reported Wednesday.
Events in the Middle East have added a thick cloud of uncertainty to the Bank of England's policy rate path, says Deutsche Bank. With energy prices up "sizeably," the inflation path remains highly uncertain, and the United Kingdom's disinflation trajectory is now in doubt, the bank notes.
California Resources (CRC) said Wednesday it plans to offer $250 million of 7% senior unsecured notes due 2034, as an addition to the previously issued $400 million of existing notes under the same indenture. Net proceeds from the transaction will be combined with cash and revolving credit borrowings to redeem $250 million of 8.25% senior unsecured notes due 2029, California Resources (CRC) said.
Amazon.com (AMZN) is raising 14.5 billion euros in its first-ever offering in the euro bond market, the largest corporate bond ever sold in the currency, Bloomberg reported Wednesday, citing unnamed people familiar with the matter. The bonds have maturities between two to 38 years, Bloomberg reported. Amazon (AMZN) didn't immediately reply to a request for comment from MT Newswires.
Kodiak Gas Services (KGS) said Wednesday a subsidiary has launched a $750 million private offering of senior unsecured notes due 2031. The company said proceeds will be used to help redeem its 7.25% senior notes due 2029 at 103.625% of the $750 million principal amount. Price: 55.51, Change: -0.97, Percent Change: -1.72. MT Newswires does not provide investment advice.
The Bank of Canada lowered the policy rate to 2.25% in October and has remained on hold since. BoC Governor Tiff Macklem has argued that policy is well-positioned to keep inflation contained while supporting the economy, framing current weakness as more structural. than cyclical, said Nomura.
An inverse correlation with energy has guided EUR/USD above 1.1650, but the retracement in energy prices hasn't dented the appeal of the Australian dollar, says Societe Generale. Australia is the world's second-largest exporter of liquefied natural gas after the United States, notes the bank. Buyers are also flocking to AUD/CAD ahead of Canadian employment data on Friday, says SocGen.
Gold traded lower early Wednesday as the dollar rose after a U.S. inflation measure rose in line with expectations February, lowering hopes the Federal Reserve will cut interest rates. Gold for April delivery was last seen down $57.10 to US$5,185.00 per ounce.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust was down 0.1% and the actively traded Invesco QQQ Trust was 0.1% lower in Wednesday's premarket activity amid CPI inflation data. US stock futures were also lower, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures retreating 0.1% before the start of regular trading.
The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.3% in February, as expected in a survey compiled by Bloomberg as of 7:20 am ET and following a 0.2% increase in January, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, as expected and slower than a 0.3% gain in January.
Royal Bank of Canada (RY) said Wednesday that it has acquired Toronto-based financial technology company Pinch Financial. No financial details were provided. Pinch operates a platform that helps qualify Canadian applicants for a mortgage and submits their applications to lenders, Royal Bank said. MT Newswires does not provide investment advice.
The US dollar was mixed against its major trading partners early Wednesday -- up versus euro and yen, down versus the pound and Canadian dollar -- ahead of the release of February consumer price index data at 8:30 am ET.
The Swiss central bank will likely keep its policy rate unchanged at 0% at its monetary policy assessment on March 19, despite increased appreciation pressures on the Swiss franc, said UBS. The conflict in the Middle East has raised energy prices and led to an appreciation of the Swiss franc, wrote the bank in a note to clients.
Societe Generale in its early Wednesday economic news summary pointed out: -- The US dollar is rangebound ahead of the consumer price index, 10-year auction. -- President Lagarde: ECB will ensure the war in Iran doesn't trigger the same inflation shock for the eurozone as Russia's invasion of Ukraine, says economic backdrop is different now and the eurozone has greater capacity to absorb shocks.
Stellantis (STLA) said Wednesday it priced a multi-tranche offering of subordinated perpetual hybrid bonds. The offering comprises 2.2 billion euros, 1.8 billion euros, and 865 million British pounds of perpetual fixed-rate resettable capital securities. The company expects the offering to close Monday and to bolster its capital structure and liquidity position, it said.
US equity indexes closed mixed on Tuesday, giving up intraday gains as investors monitored developments in the Middle East energy markets and weighed the possibility of an early end to the Iran war.
US equity indexes were mixed Tuesday amid volatile trading after crude oil prices moved up after falling earlier in the day. * US existing home sales rose 1.7% sequentially to a seasonally adjusted annual rate of 4.09 million units last month, compared with an anticipated 0.8% decline, according to a Bloomberg-compiled survey.
Financial stocks were mixed in late Tuesday afternoon trading, with the NYSE Financial Index up 0.1% and the State Street Financial Select Sector SPDR ETF shedding 0.4%. The Philadelphia Housing Index was down 0.9%, and the State Street Real Estate Select Sector SPDR ETF eased 0.1%. Bitcoin was gaining 2.2% to $69,987, and the yield for 10-year US Treasuries was little changed at 4.13%. In econ...
Financial stocks were mixed in late Tuesday afternoon trading, with the NYSE Financial Index up 0.1% and the State Street Financial Select Sector SPDR ETF shedding 0.4%. The Philadelphia Housing Index was easing 0.9%, and the State Street Real Estate Select Sector SPDR ETF decreased 0.1%. Bitcoin was gaining 2.2% to $69,987, and the yield for 10-year US Treasuries was little changed at 4.13%. I...
The US Consumer Price Index is expected to rise by 0.3% in February after a 0.2% gain in January, according to a survey compiled by Bloomberg, while the year-over-year rate is forecast to remain at 2.4%. The CPI data are scheduled to be released at 8:30 am ET Wednesday. The same survey looks for a 0.2% gain in core CPI, excluding the volatile food and energy components after 0.3% increase.
Financial stocks were mixed in Tuesday afternoon trading, with the NYSE Financial Index rising 1% and the State Street Financial Select Sector SPDR ETF down 0.1%. The Philadelphia Housing Index was easing 0.5%, and the State Street Real Estate Select Sector SPDR ETF was increasing 0.2%. Bitcoin was gaining 3.4% to $70,762.4, and the yield for 10-year US Treasuries was little changed at 4.13%. I...
Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 1.1% and the State Street Financial Select Sector SPDR ETF up 0.6%. The Philadelphia Housing Index was adding 0.3%, and the State Street Real Estate Select Sector SPDR ETF was increasing 0.5%. Bitcoin was gaining 4% to $71,088, and the yield for 10-year US Treasuries was shedding 2.1 basis points ...
US existing home sales unexpectedly increased in February as lower mortgage rates helped improve affordability, data from the National Association of Realtors showed Tuesday. Sales rose 1.7% sequentially to a seasonally adjusted annual rate of 4.09 million units last month. "Housing affordability is improving, and consumers are responding," NAR Chief Economist Lawrence Yun said.
Volatility in Bank of Canada rate expectations picked up in March, driven by the conflict in Iran, said National Bank of Canada. Just two weeks ago, investors were contemplating potential BoC rate cuts this year, but quickly, OIS markets saw hikes as more likely, noted the bank.
National Bank of Canada (NTIOF) announced Tuesday that the Toronto Stock Exchange and the Office of the Superintendent of Financial Institutions have approved an amendment to the bank's normal course issuer bid.
The pace of US existing home sales rose by 1.7% to a 4.09 million seasonally adjusted annual rate in February from an upwardly revised 4.02 million rate in January, compared with an expected decrease to a 3.88 million rate in a survey compiled by Bloomberg as of 7:40 am ET, data from the National Association of Realtors released Tuesday showed. Total sales were down 1.4% from a year earlier.
National Bank said Tuesday with geopolitical uncertainty high and domestic data volatile, citing recent labour market data as an example, it expects the Bank of Canada to "simply sit on its hands for the next few meetings" and not work on any changes to its monetary policy.
German exports fell by 2.3% month over month in January from a 4.0% month-over-month gain in December, said ING. At the same time, imports dropped by 5.9% month over month, widening the German trade surplus to 21.2 billion euros, the highest level since the summer of 2024. Still, despite Tuesday's disappointment, exports are still higher than in November 2025.
Crispr Therapeutics (CRSP) said Tuesday that it plans to offer $350 million of its convertible senior unsecured notes due March 1, 2031 in a private offering. The company said it expects to grant the initial purchasers of the notes a 13-day option to buy up to an additional $52.5 million of the notes. The company said it plans to use the net proceeds for general corporate purposes.
The US dollar fell against its major trading partners early Tuesday ahead of the release of weekly Redbook same-store sales at 8:55 am ET and existing home sales data for February at 10:00 am ET. Earlier Tuesday, the National Federation of Independent Business reported that small business optimism declined in February, though there was an increase in certainty about the economic outlook.
No policy rate move is expected at the Bank of Canada's March 18 policy meeting. The policy statement and Governor Tiff Macklem's opening remarks to the press conference is scheduled for 9:45 a.m. ET and will be followed by the press conference 45 minutes later, noted the bank. The next forecast update will be with the April policy decision, pointed out Scotiabank.
Societe Generale in its early Tuesday economic news summary pointed out: -- Risk on. -- Norway's consumer price index slows to 2.7% year over year in February from 3.6% in January, core CPI dips to 3.0% year over year from 3.4%. EUR/NOK off 11.0958 low. -- Day ahead: U.S. ADP weekly employment, UST three-year sale, Germany two-year auction.
Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index falling 1.5% and the State Street Financial Select Sector SPDR ETF down 0.6%. The Philadelphia Housing Index eased 0.3%, and the State Street Real Estate Select Sector SPDR ETF added 0.2%. Bitcoin was increasing 2.5% to $69,026, and the yield for 10-year US Treasuries was three basis points lower at 4.10...
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