10:07:18 EST Wed 29 Nov 2023
Enter Symbol
or Name

JPMorgan CDR (CAD Hedged)
Symbol JPM
Shares Issued 2,200,000
Close 2023-09-22 C$ 19.77
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Globe/wire say BofA, rivals hear investors wary of Fed

2023-09-25 09:29 ET - In the News

See In the News (C-BOFA) Bank of America CDR (CAD Hedged)

The Globe and Mail reports in its Monday edition that a hawkish stand from the Federal Reserve, soaring Treasury yields and a looming government shutdown are adding to a cocktail of risks that has spooked investors and clouded the outlook for U.S. equities. A Reuters dispatch to The Globe reports that U.S. stocks have slid more than 6 per cent from their July highs, and the past week has been especially nerve-racking for investors. The Fed projected it would leave interest rates at elevated levels for longer than expected, sparking sell-offs in U.S. stocks and bonds. The S&P 500 tumbled 2.9 per cent last week, its biggest weekly decline since March. Investors sold global equities at the fastest rate this year, with a net $16.9-billion (U.S.) leaving stocks in the week to Wednesday, research data showed. The index is up 12.8 per cent year-to-date. Allianz Investment's Charlie Ripley said: "We've had resilient growth for the summer months but we're running into a period where there's significant risk to the economy. Investors are seeing a reason to take risk off the table and that's going to diminish some appetite for stocks." Yields on the benchmark U.S. 10-year Treasury stand near 16-year highs.

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