By Davide Barbuscia NEW YORK (Reuters) -As bonds emerge from a historic selloff, some investors expect better times in the U.S. fixed income market next year – as long as the Federal Reserve’s rate cuts play out as anticipated. A fourth-quarter rally saved bonds from an unprecedented third straight annual loss in 2023, following the …
US bond bulls look to 2024 Fed pivot to sustain searing rally Read More »
By Jonathan Stempel NEW YORK (Reuters) – A federal judge said Johnson & Johnson shareholders may pursue as a class action their lawsuit accusing the company of fraudulently concealing how its talc products were contaminated by cancer-causing asbestos. U.S. District Judge Zahid Quraishi in Trenton, New Jersey, on Friday allowed shareholders from Feb. 22, 2013 …
Judge certifies Johnson & Johnson shareholder class action over talc disclosures Read More »
By Michael S. Derby NEW YORK (Reuters) – The Federal Reserve Bank of New York said on Friday it accepted $1.018 trillion at its overnight reverse repo facility, as inflows to the central bank liquidity facility surged on the final trading day of the year. Friday’s inflows were expected to jump and were well above …
New York Fed: Inflows to reverse repo facility surge, hitting $1.018 trillion Read More »
By Davide Barbuscia NEW YORK (Reuters) – A gauge measuring the borrowing costs on loans between banks and other participants in the U.S. repurchase agreement (repo) market hit its highest level since it was launched about five years ago, New York Federal Reserve data released on Friday showed. The Secured Overnight Financing Rate (SOFR), a …
US overnight funding rate hits record high amid year-end volatility Read More »
(Reuters) – The interest rate on the most common type of U.S. home loan fell for a ninth straight week this week to close out the year at their lowest level since May, according to data released Thursday by Freddie Mac. The interest rate on a 30-year fixed-rate mortgage averaged 6.61% as of Dec. 28, …
Mortgage rates slide to lowest since May – Freddie Mac Read More »
By Stephen Culp NEW YORK (Reuters) -The S&P 500 closed nominally higher on Thursday, retracing early gains just before the closing bell on the penultimate trading day of 2023. The benchmark index concluded the light volume session just 0.3% shy of its record closing high, reached on Jan. 3, 2022. The blue-chip Dow ended modestly …
S&P 500 ekes out meager gains, flirts with bull market confirmation Read More »
By Jonathan Stempel (Reuters) – Alphabet’s Google has agreed to settle a lawsuit claiming it secretly tracked the internet use of millions of people who thought they were doing their browsing privately. U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, put a scheduled Feb. 5, 2024 trial in the proposed class action on hold …
Google settles $5 billion consumer privacy lawsuit Read More »
(Reuters) – Air Methods, a private equity-owned medical helicopter company, said on Thursday it has emerged from bankruptcy nearly two months after it filed for Chapter 11 bankruptcy protection. The restructuring process cut about $1.7 billion of the company’s debt, Air Methods said. The firm entered bankruptcy with debt of about $2.24 billion. The business …
Air Methods exits bankruptcy with $1.7 billion less debt Read More »
BRASILIA (Reuters) – Brazil created a net 130,097 formal jobs in November, fewer than expected, labor ministry figures showed on Thursday. Economists polled by Reuters projected 142,841 jobs to be created in the month. Year-to-date, job creation totaled 1.9 million net positions, according to the labor ministry, which had previously anticipated a potential increase to …
Brazil’s formal job creation falls short of expectations in November Read More »
By Amina Niasse NEW YORK (Reuters) -Pending U.S. home sales were unchanged in November, data released Thursday showed, signaling traffic from prospective buyers is slow to recover despite interest rates easing on the most common type of home loan. An index gauging contracts to buy existing homes measured at 71.6 in November, level with October’s …
Contracts to buy US existing homes flat as mortgage payments soften Read More »
