City Minneapolis Financial News

RBC Wealth Management has added two advisor teams across three states with a combined $630 million in client assets.

(Reuters) — U.S. stock index futures fell on Thursday as investors awaited more data to gauge the strength of the labor market, while elevated Treasury yields still pointed to worries about high interest rates for a prolonged period.

Bitcoin’s (BTC) price bull run towards $28,000 on Oct. 1 was partially fueled by the uncertainty regarding the United States debt limit. However, the U.S. President Joe Biden signed the spending bill just hours before the Sept. 30 deadline, avoiding a government shutdown. 

By Stephen Nellis

By Brigid Riley

U.S. economic data and fresh comments from Federal Reserve officials. Federal Reserve Bank of Minneapolis President Neel Kashkari was one among several Fed voices to caution markets on the possibility of more hikes, saying on Wednesday that ample evidence of ongoing economic strength meant that more tightening might be in the pipeline. Fed Chair Jerome Powell is scheduled to speak later on Thursday, giving markets further clues into the future path of U.S. monetary policy.

US Treasury yields were little changed to modestly higher on Wednesday, as traders took a breather after a months-long sell-off fueled by expectations that the Federal Reserve will keep rates high for some time to bring inflation down to its 2% target. Yields, however, are expected to stay high, with the latest pullback seen as a minor blip. «In the near term, there is pro-active reluctance to buy (Treasuries) particularly given the speed of the latest sell-off,» said Ben Jeffrey, rates strategist, at BMO Capital in New York. «There are definitely enough risks out there in terms of labor market growth and the economy, as well as the risk of a government shutdown that will eventually help to bring some demand and push rates lower,» he added. In the credit default swaps market, the threat of another government shutdown sent one-year credit default swaps to their widest since June 1, when the US government was on the cusp of a technical sovereign default as politicians in Washington haggled over the borrowing limit. U.S. one-year credit default swaps widened to 22 bps on Wednesday, from 21 bps at Tuesday's close.

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rupee ended 8 paise lower at 83.23 a dollar. The rupee hit its record level of 83.29 in October 2022. Also Read: India could be the largest beneficiary: JPMorgan CEO explains why as companies look options beyond China Asian currencies were mostly weaker with the Korean won leading losses.

By Arathy Somasekhar

UBS managing director and senior portfolio manager Jason Katz discusses the impact of the UAW strike on the Federal Reserve and the auto industry, as well as high oil prices.

Minneapolis Federal Reserve President Neel Kashkari thinks there's nearly a 50-50 chance that interest rates will need to move significantly higher to bring down inflation.

Stevie Nicks has extended her 'Live In Concert' tour by adding seven dates to her current trek. Nicks will begin the 'Live In Concert' tour on February 10 at Mark G Etess Arena in Atlantic City. She will make stops and perform in New York, South Carolina, Florida, Louisana and many more places, before bringing the tour to an end with a performance at the AT&T Stadium in Arlington, Texas with support from Billy Joel. Live Nation will produce all of the newly added dates except for her appearance at the Hard Rock Live in Florida.

dollar index gained on Tuesday but eased from a 10-month high as the upward march in Treasury yields paused, and the Japanese yen bounced from an 11-month low as Japanese officials warned about a possible intervention in the currency. Benchmark 10-year U.S. government bond yields have jumped to 16-year highs this month as economic data remains robust despite higher interest rates.

By Ann Saphir

rupee fell on Tuesday because of month-end dollar demand, and as U.S. Treasury yields gained on renewed bets that interest rates in the U.S.

Investing.com — The U.S. dollar rose Tuesday, climbing to 10-month highs after bond yields soared to 16-year peaks amid growing expectations that U.S. interest rates will rise further this year.

Investing.com-- Most Asian currencies fell slightly on Tuesday, while the dollar steadied at its highest levels for the year on growing bets that U.S. interest rates will rise further this year.

Investing.com-- Gold prices fell in Asian trade on Tuesday, facing consistent pressure from a stronger dollar and higher Treasury yields as Federal Reserve officials reiterated the bank’s outlook for higher interest rates. 

Minneapolis Federal Reserve Bank President Neel Kashkari on Monday said that given the surprising resilience in the U.S.

Investing.com-- Most Asian stocks retreated on Tuesday as the prospect of higher U.S. rates weighed on the technology sector, while persistent concerns over a Chinese economic slowdown also kept investors wary of regional markets.