BUENOS AIRES, Argentina, Oct. 23, 2020 ?IRSA Inversiones y Representaciones S.A. (IRS), Argentina's leading Real Estate company, informs that according to Resolution "A" 7106 of the Central Bank of the Argentine Republic that restricts access to the Foreign Exchange Market to purchase US dollars for the payment of foreign currency-denominated debt securities principal maturing between October 15, 202...
The U.S. Treasury market still runs the risk of abrupt freezes in liquidity like the one seen in March and April, as the COVID-19 pandemic roiled the financial system, a member of the Federal Reserve Bank of New York's Market Committee said on Friday.
The U.S. Treasury market still runs the risk of abrupt freezes in liquidity like the one seen in March and April, as the COVID-19 pandemic roiled the financial system, a member of the Federal Reserve Bank of New York's Market Committee said on Friday.
The following are forecasts for next week's U.S. data from a survey compiled by The Wall Street Journal. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Monday 1000 New Home Sales Sep 1.02 M 1.01 M-- percent change Sep +1.0% +4.8% 1030 Dallas Fed Mfg Svy Oct N/A 13.6 Tuesday 0830 Durable Goods Orders Sep +0.3% +0.5%* 0900 S&P/Case-Shiller 20- City Aug N/A +3.9% HPI Y/Y 1000 Consumer Confidence Oct 102.3 101.8 1000 Richmond Fed Mfg Svy Oct N/A 21 Thursday 0830 Jobless Claims Oct 24 783 K 787...
U.S. government bond yields were on track to end the week near multimonth highs, lifted by signs of economic recovery and the hopes for economic stimulus before or after the presidential election. The 10- year yield, which reached as high as roughly 0.87% in early trading, has climbed for six straight sessions, buoyed by investors' expectations that the economy is rebounding and lawmakers will eventually reach a deal to help individuals and companies weather the pandemic...
Guzman & Company, a Coral Gables-based investment bank and brokerage firm, is honored to participate in the Secondary Market Corporate Credit Facility, a program enacted by the Federal Reserve Bank of New York to provide liquidity for the corporate bond market.
JERSEY CITY, N.J., Oct. 23, 2020 The Federal Farm Credit Banks Funding Corporation announced today the preliminary results of its previously announced offer to exchange any and all of its existing LIBOR Bonds listed in the table below for corresponding new LIBOR Bonds listed in the table below. ?. The Exchange Offer expired on October 22, 2020 at 5:00 p.m., New York City time.
Dallas Federal Reserve Bank President Robert Kaplan on Wednesday repeated his forecast for the U.S. economy to shrink about 2.5% this year and grow a strong 3.5% next year, adding that he expects the pandemic to continue to impact daily life well into next year.
Central banks were among the biggest buyers of European common debt this week, signaling growing trust that the euro will hold its own through the pandemic. The European Commission-- the European Union's executive arm-- issued its first wave of common debt to finance its coronavirus-relief programs Tuesday. It raised EUR17 billion, equivalent to $20 billion, from the sale of 10- year and 20- year bonds.
The Federal Reserve Bank of New York announced on Friday that it selected additional counterparties to support the commercial paper funding facility and the secondary market corporate credit facility as needed. Read more on the New York Fed's website https://www.newyorkfed.org/newsevents/news/markets/2020/20201023.
Overall business activity in the U.S. quickened its expansion pace in October, rising at the fastest rate for 20 months and business optimism improving markedly, preliminary data from IHS Markit showed Friday. The flash reading for the U.S. Composite Output Index came in at 55.5 in October, up from the 54.3 registered in September.
Argentina's economy minister Martin Guzman on Friday vowed to maintain a slow rate of currency devaluation despite rising pressure on the peso and tumbling foreign reserves.
U.S. business activity increased to a 20-month high in October, but the pace of new business growth and new orders eased slightly amid the lingering COVID-19 pandemic and caution ahead of the Nov. 3 presidential election. Data firm IHS Markit said on Friday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, rose to a reading of 55.5 this month.
Mexican President Andres Manuel Lopez Obrador said on Friday that interest rates are still high and must fall further for people to take out loans and help the economy recover from the effects of the coronavirus pandemic. Speaking at a regular news conference, Lopez Obrador said the economy was making up ground lost in the pandemic, but that the country was in a "crisis situation".
Brazil's balance of payments position with the rest of the world improved in September, figures showed on Friday, as the sixth current account surplus in a row helped narrow the 12-month accumulated deficit to its smallest in more than two years.
U.S. stocks ticked higher Friday, as investors put the final debate of the 2020 election in the rearview mirror and awaited fresh data on the manufacturing and services sectors. The S&P 500 edged up 0.2%, while the technology-heavy Nasdaq Composite Index added 0.. 3% and the Dow Jones Industrial Average advanced 64 points, or 0.3%. Money managers say stocks are likely to lack clear direction in the coming weeks as they avoid placing big bets ahead of the Nov. 3 election.
The Canadian dollar edged higher
against its U.S. counterpart on Friday, as investors welcomed
signs of progress on a U.S. coronavirus relief package and some
domestic economic indicators were ...
Mexican President Andres Manuel Lopez Obrador said on Friday that interest rates are still high and need to fall further in order for people to take out loans. "Interest rates remain high," Lopez Obrador told a regular news conference.
SAO PAULO--Brazil recorded a current-account surplus of $2.3 billion in September from a surplus of $3.7 billion in August, the country's central bank said Friday. The 12- month current-account deficit reached $20.7 billion in month, from $25.7 billion the month before, the bank said. The 12- month current-account deficit was equal to 1.37% of gross domestic product, versus 1.66% of GDP in the previous month.
Brazil posted a current account surplus of $2.3 billion in September, the central bank said on Friday, the sixth consecutive monthly surplus but less than the $3 billion forecast in a Reuters poll of economists.
Brazil's IPCA-15 consumer price index rose 0.94% in the month to mid-October, statistics agency IBGE said on Friday, the highest this year and the highest for any October since 1995 as food prices continued to tick higher. The monthly rate was higher than the 0.81% median forecast in a Reuters poll and more than double the previous month's 0.45% rise.
* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh. * Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv. By Elizabeth Howcroft. The pound fell against the dollar and euro on Friday after the UK Purchasing Managers' Index fell to a four-month low, but was still set to end the week up, after a new phase of intense Brexit talks restarted.
The Equipment Leasing and Finance Association?s Monthly Leasing and Finance Index, which reports economic activity from 25 companies representing a cross section of the $900 billion equipment finance sector, showed their overall new business volume for September was $8.7 billion, down 13 percent year-over-year from new business volume in September 2019.
MOSCOW--The Russian central bank kept its key interest rate at a record low as a swift rise in coronavirus cases has clouded the economic outlook and volatility in the Russian ruble has increased ahead of the U.S. election. The bank on Friday held its benchmark rate at 4.25%, following several cuts earlier this year that drove the rate to a post-Soviet low. It said in a statement that it would consider further cuts at upcoming meetings.
Consumer confidence in Brazil fell in October for the first time in six months, a survey indicated on Friday, with persistent worries over the COVID-19 pandemic weighing heavily and suggesting that the economy's recovery may be losing steam.
Mexican retail sales rose in August by 2.5% from July in seasonally-adjusted terms, the fourth monthly increase in a row, as consumer spending continues to recover from the effects of the coronavirus pandemic, official data showed on Friday. The pace of growth was the weakest since May, according to the data published by national statistics agency INEGI.
WASHINGTON-- Federal Reserve officials and some other policy makers are stepping up calls for a quick jolt of stimulus spending as recent economic data point to uneven growth. Their concern: Even if the current recovery is self-sustaining, a delay could lead to a repeat of the lackluster rebound from the 2008 financial crisis, when a burst of spending was followed by an abrupt reversal. "This is not a good time to have fiscal policy switch from being accommodative to creating a drag,"...
MOSCOW--The Russian central bank kept its key interest rate at a record low as a swift rise in coronavirus cases has clouded the economic outlook and volatility in the Russian ruble has increased ahead of the U.S. election. The bank on Friday held its benchmark rate at 4.25%, following several cuts earlier this year that drove the rate to a post-Soviet low. It said in a statement that it would consider further cuts at upcoming meetings.
Consumer confidence in Brazil fell in October for the first time in six months, a survey indicated on Friday, a sign that the economy's recovery from the worst of the crisis triggered by the coronavirus pandemic earlier this year may be losing steam.
* IHS Markit's flash Composite Purchasing Managers' Index at 49.4. * Peripheral yields lower across the board. * ECB expected to extend QE by year end. * Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr. By Abhinav Ramnarayan and Stefano Rebaudo.
1/ ALMOST THERE. The last week of the 2020 U.S. presidential election race will test the durability of the Biden trade -- assets viewed as sensitive to the political fortunes of Democratic challenger Joe Biden, who has widened his lead over President Donald Trump in recent weeks. Signs that Biden is cruising to a strong finish could benefit alternative energy, cyclical stocks and cannabis firms.
1/ ALMOST THERE. The last week of the 2020 U.S. presidential election race will test the durability of the Biden trade -- assets viewed as sensitive to the political fortunes of Democratic challenger Joe Biden, who has widened his lead over President Donald Trump in recent weeks.
Equity Bancshares Inc (EQBK): * EQUITY BANCSHARES (EQBK)- FEDERAL RESERVE BANK OF KANSAS CITY ADVISED CO IT HAD NO OBJECTION TO REPURCHASE OF UP TO 800,000 SHARES OF CLASS A COMMON STOCK Source : Further company coverage:
* UK October flash PMI survey shows weaker growth than forecast. * Tighter lockdown rules hit hospitality and consumer confidence. * Economists say record Q3 retail growth will be hard to sustain. By Andy Bruce.
Automakers and Banks Drive European Stocks Higher. Well-received results from banks and auto makers were helping to drive gains for European stocks, while flash purchasing managers index data revealed continued pandemic-fueled struggles for the region. Eurozone PMI Slips to Four-Month Low.
Britain's economic recovery has lost more momentum this month as a resurgence of the coronavirus pandemic hit businesses in the hospitality and transport sectors, a survey showed on Friday. An early "flash" reading of the IHS Markit/CIPS UK Composite Purchasing Managers' Index, a gauge of private sector growth, fell to a four-month low of 52.9 in October from 56.5 in September.
* Russian c.bank expected to hold rates. * Polish zloty extends losses into a third session. * MSCI EM stocks index to gain for a fourth straight week. By Ambar Warrick. Turkey's lira hovered around record lows on Friday after the central bank unexpectedly kept interest rates on hold, while Russia's rouble was little changed ahead of a rate decision there.
A dearth of action in fixed income markets is prompting bond investors to focus more on currencies to spot market trends, marking a turning point for the gigantic but generally murky foreign exchange markets. Buying bonds at the rate of roughly $2 billion per hour in the wake of the COVID-19 pandemic, central banks have crushed volatility and reduced its efficacy as a signalling instrument.
SINGAPORE--Singapore's consumer prices were flat in September, as a rise in food, transport, communication and household durables and services costs offset a decline in prices in other areas such as clothing and footwear. The consumer-price index was unchanged in September from a year earlier, compared with the 0.4% drop in August, the Department of Statistics said Friday. The median estimate in a Wall Street Journal survey of 13 economists was for a 0.2% decline.
* Sept nationwide core CPI falls 0.3% yr/yr vs f'cast -0.4% * Slide in energy costs, govt travel subsidies weigh on CPI. * Excluding effect of govt campaign, core CPI was flat yr-yr. * BOJ seen trimming growth, price f'casts next week - sources. By Leika Kihara.
Japan's factory activity extended declines in October, a private sector survey showed on Friday, highlighting the impact a resurgence in global coronavirus infections has had on the world's third-largest economy. The contraction in manufacturing is at risk of extending further as new infections throw cold water on hopes of an export-led recovery for the trade-reliant economy.
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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