Latest news with #ManulifeInvestmentManagement
Associated Press
22-05-2025
- Business
- Associated Press
The bond market is shaking Wall Street again, this time because of worries about tax cuts
NEW YORK (AP) — Wall Street's quiet corner is making noise again. While the bond market is typically seen as sedate and respectful, it can pack a heavy punch when it's alarmed. And right now, it's getting worried about how much more Washington is preparing to pile onto its spiraling mountain of debt because of its desire to cut taxes. The House of Representatives approved a bill of tax breaks early Thursday that could add trillions of dollars to the federal government's debt, and it's heading to the Senate next. Worries about the U.S. debt have sent yields jumping in the bond market, which in turn has shaken the stock market. The S&P 500 is potentially heading toward its worst week in seven. In the past, angry reactions from the bond market have been so strong that they've forced governments to backtrack on policies and even led to the ouster of some political leaders. To be sure, many veteran investors say it would be overblown or at least premature to say 'bond-market vigilantes' are rounding up this time around, because yields have not jumped high enough to indicate a crisis. But the higher yields will nevertheless have wide-reaching effects. 'I wouldn't look at this from an apocalyptical dynamic, but there are real ramifications,' said Nate Thooft, a senior portfolio manager at Manulife Investment Management. 'Look at mortgage rates.' Here's a look at what's going on: How much is the bond market moving? The centerpiece of the U.S. bond market is the 10-year Treasury, and its yield has climbed to 4.54% from 4.43% at the end of last week and just 4.01% early last month. That's a notable move for the bond market, which measures things in hundredths of percentage points. That yield shows roughly how much in interest the U.S. government needs to pay investors to get them to lend it cash for 10 years. Washington needs that cash because it consistently spends more than it takes in through tax revenue. And when bond investors are more wary of lending to the U.S. government, yields for Treasurys rise. The moves have been sharpest for the longest-term bonds. The yield on a 30-year Treasury has topped 5% and is getting close to where it was before the 2008 financial crisis wiped out interest rates. Why is the bond market upset? Bond investors hate inflation because it means the future payments that bonds will give them won't be able to buy as much stuff. Worries are rising about the potential for higher inflation for a couple reasons. On one hand are President Donald Trump's tariffs, which could push up prices for all kinds of products. A bigger, more long-term concern is how much debt the U.S. government is building up. Those debt concerns gained momentum at the end of last week after Moody's Ratings became the last of the three major rating agencies to say the U.S. government no longer deserves a top-tier credit rating because of its troubles keeping its debt in check. The worries then built through this week as the House moved forward on its tax-cut bill that it approved early Thursday. Other factors have also been pushing yields up recently, including increasing hopes that the U.S. economy will not fall into a recession after Trump delayed many of his stiff tariffs, particularly against China. What's this about vigilantes? In the past, the bond market has recoiled at policies that it's found distasteful. Sometimes, the reaction is violent enough to scare politicians. Trump himself said that the bond market may have played a role in his decision earlier this year to delay many of his tariffs, saying that he noticed investors 'were getting a little queasy.' The bond market also helped make Liz Truss the United Kingdom's shortest-serving prime minister in 2022, when it revolted against her plan to cut taxes and raise spending without a way to pay for them. James Carville, adviser to former U.S. President Bill Clinton, also famously said he'd like to be reincarnated as the bond market because of how much power it wields. Are the vigilantes in the room with us now? While there is some element of vigilantism that's keeping Treasury yields higher than they would be otherwise, the reaction so far by the bond market likely isn't enough to get Trump or Congress to back off their efforts to cut taxes. 'I don't really expect it to snowball or last,' said Brian Rehling, head of global fixed income strategy at Wells Fargo Investment Institute. 'I don't think this is going to rise to a level of a crisis.' Treasury yields calmed on Thursday, for example. And the United States isn't the only country seeing yields for its bonds rise. That's happening for other developed economies around the world, particularly Japan. Plus, all of the issues about the U.S. government's debt are well known, and critics have been warning for years that it's heading on an unsustainable path. It still might be years away that the U.S. government's rising debt load triggers a panic button in financial markets, Rehling said. So why should I care? When Treasury yields rise, it means more of taxpayers' dollars are going just to repay the national debt rather than to keep the government running. Higher yields can also filter into the rest of the economy and make it tougher for U.S. households and businesses to get their own loans. Mortgage rates track 10-year Treasury yields, for example, and the average rate on a 30-year mortgage just hit its highest level since mid-February. Higher Treasury yields can also translate into higher rates for everything from credit cards to auto loans. That means a sharp enough rise can the brakes on the U.S. economy by discouraging businesses and households from borrowing and spending, raising the risk of a recession. High yields can also discourage investors from paying high prices for stocks and other investments. All of that, of course, seems to be getting only more difficult to predict. 'We don't know how things are going to all develop,' Rehling said, pointing to how 'things seem to change by the day with Washington.'
Yahoo
22-05-2025
- Business
- Yahoo
The bond market is shaking Wall Street again, this time because of worries about tax cuts
NEW YORK (AP) — Wall Street's quiet corner is making noise again. While the bond market is typically seen as sedate and respectful, it can pack a heavy punch when it's alarmed. And right now, it's getting worried about how much more Washington is preparing to pile onto its spiraling mountain of debt because of its desire to cut taxes. The House of Representatives approved a bill of tax breaks early Thursday that could add trillions of dollars to the federal government's debt, and it's heading to the Senate next. Worries about the U.S. debt have sent yields jumping in the bond market, which in turn has shaken the stock market. The S&P 500 is potentially heading toward its worst week in seven. In the past, angry reactions from the bond market have been so strong that they've forced governments to backtrack on policies and even led to the ouster of some political leaders. To be sure, many veteran investors say it would be overblown or at least premature to say 'bond-market vigilantes' are rounding up this time around, because yields have not jumped high enough to indicate a crisis. But the higher yields will nevertheless have wide-reaching effects. 'I wouldn't look at this from an apocalyptical dynamic, but there are real ramifications," said Nate Thooft, a senior portfolio manager at Manulife Investment Management. 'Look at mortgage rates.' Here's a look at what's going on: How much is the bond market moving? The centerpiece of the U.S. bond market is the 10-year Treasury, and its yield has climbed to 4.54% from 4.43% at the end of last week and just 4.01% early last month. That's a notable move for the bond market, which measures things in hundredths of percentage points. That yield shows roughly how much in interest the U.S. government needs to pay investors to get them to lend it cash for 10 years. Washington needs that cash because it consistently spends more than it takes in through tax revenue. And when bond investors are more wary of lending to the U.S. government, yields for Treasurys rise. The moves have been sharpest for the longest-term bonds. The yield on a 30-year Treasury has topped 5% and is getting close to where it was before the 2008 financial crisis wiped out interest rates. Why is the bond market upset? Bond investors hate inflation because it means the future payments that bonds will give them won't be able to buy as much stuff. Worries are rising about the potential for higher inflation for a couple reasons. On one hand are President Donald Trump's tariffs, which could push up prices for all kinds of products. A bigger, more long-term concern is how much debt the U.S. government is building up. Those debt concerns gained momentum at the end of last week after Moody's Ratings became the last of the three major rating agencies to say the U.S. government no longer deserves a top-tier credit rating because of its troubles keeping its debt in check. The worries then built through this week as the House moved forward on its tax-cut bill that it approved early Thursday. Other factors have also been pushing yields up recently, including increasing hopes that the U.S. economy will not fall into a recession after Trump delayed many of his stiff tariffs, particularly against China. What's this about vigilantes? In the past, the bond market has recoiled at policies that it's found distasteful. Sometimes, the reaction is violent enough to scare politicians. Trump himself said that the bond market may have played a role in his decision earlier this year to delay many of his tariffs, saying that he noticed investors 'were getting a little queasy.' The bond market also helped make Liz Truss the United Kingdom's shortest-serving prime minister in 2022, when it revolted against her plan to cut taxes and raise spending without a way to pay for them. James Carville, adviser to former U.S. President Bill Clinton, also famously said he'd like to be reincarnated as the bond market because of how much power it wields. Are the vigilantes in the room with us now? While there is some element of vigilantism that's keeping Treasury yields higher than they would be otherwise, the reaction so far by the bond market likely isn't enough to get Trump or Congress to back off their efforts to cut taxes. 'I don't really expect it to snowball or last,' said Brian Rehling, head of global fixed income strategy at Wells Fargo Investment Institute. 'I don't think this is going to rise to a level of a crisis.' Treasury yields calmed on Thursday, for example. And the United States isn't the only country seeing yields for its bonds rise. That's happening for other developed economies around the world, particularly Japan. Plus, all of the issues about the U.S. government's debt are well known, and critics have been warning for years that it's heading on an unsustainable path. It still might be years away that the U.S. government's rising debt load triggers a panic button in financial markets, Rehling said. So why should I care? When Treasury yields rise, it means more of taxpayers' dollars are going just to repay the national debt rather than to keep the government running. Higher yields can also filter into the rest of the economy and make it tougher for U.S. households and businesses to get their own loans. Mortgage rates track 10-year Treasury yields, for example, and the average rate on a 30-year mortgage just hit its highest level since mid-February. Higher Treasury yields can also translate into higher rates for everything from credit cards to auto loans. That means a sharp enough rise can the brakes on the U.S. economy by discouraging businesses and households from borrowing and spending, raising the risk of a recession. High yields can also discourage investors from paying high prices for stocks and other investments. All of that, of course, seems to be getting only more difficult to predict. 'We don't know how things are going to all develop,' Rehling said, pointing to how 'things seem to change by the day with Washington.'
Yahoo
21-05-2025
- Business
- Yahoo
Manulife Investment Management and Cedar Podium Investment Management to Partner on Zero-Carbon Student Housing Project in Kingston, Ontario
TORONTO, May 21, 2025 /CNW/ - Manulife Investment Management ("Manulife IM") and Cedar Podium Investment Management announced today a strategic partnership to develop a purpose-built student housing (PBSH) residence in Kingston, Ontario, strategically located downtown with direct access to Queen's University. Located at 283 Queen Street, the 15-storey development will provide 389 fully furnished bedrooms (178 units) and a suite of modern amenities, including a fitness centre, study areas, a social lounge, and centralized laundry facilities. The project is designed to meet Canada Green Building Council's (CaGBC) Zero Carbon Design certification and is targeting a 2-star Fitwel® rating—demonstrating a strong commitment to sustainability, health, and wellness. This marks the inaugural collaboration between Cedar Podium and Manulife IM, laying the groundwork for a large-scale partnership focused on delivering high-quality, professionally managed student housing across Canada. The alliance combines deep sector expertise to help address the growing shortage of student accommodation nationwide. "Kingston is a top-tier destination for students, and this development represents a major step forward in supporting its growth," said Bernard Luttmer, CEO of Cedar Podium Investment Management. "Our partnership with Manulife IM reflects a shared commitment to sustainable, long-term solutions in the student housing sector." "As demand continues to grow, we see purpose-built student housing as a compelling opportunity to invest in resilient, community-enhancing assets, in an alternative asset class with significant tailwinds. We look forward to working alongside Cedar Podium on this forward-thinking strategic venture," said Marc Feliciano, Global Head of Real Estate at Manulife Investment Management. "Additionally, we believe additional student beds have an indirect positive impact on the broader housing market, as they can be a catalyst for conventional multifamily inventory to be released as students transition into these available assets." Kingston consistently ranks among Canada's best cities for students, known for its affordability, quality of life, and academic excellence, anchored by institutions like Queen's University. However, a critical housing shortage threatens to limit its potential. Research by global advisory firm Bonard highlights the lack of available student beds as a significant barrier to institutional growth and Canada's ability to attract international students. Historically dominated by small-scale, private landlords, the student housing sector is undergoing a transformation. Rising enrollment and limited supply have created urgent demand for professionally developed scalable solutions. This Kingston development aims to meet that demand with sustainability, livability, and accessibility at its core. Site preparation is currently underway, and full construction is expected to begin in Q2 2025. Completion and occupancy is targeted for Fall 2027. About Manulife Wealth & Asset Management As part of Manulife Financial Corporation, Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to 19 million individuals, institutions, and retirement plan members worldwide. Our mission is to make decisions easier and lives better by empowering people today to invest for a better tomorrow. As a committed partner to our clients and as a responsible steward of investor capital, we offer a heritage of risk management, deep expertise across public and private markets, and comprehensive retirement plan services. We seek to provide better investment and impact outcomes and to help people confidently save and invest for a more secure financial future. Not all offerings are available in all jurisdictions. For additional information, please visit About Cedar Podium Investment Management Cedar Podium Investment Management is a Canadian purpose-built student accommodation (PBSA) investment firm formed through a partnership between Pamoja Capital, Cedar Pacific Investment Management and Podium Group. The firm brings together global funds management expertise and Podium's local market knowledge to deliver high-quality student accommodation across Canada. The team has over $1.5 billion invested in the PBSA sector across 19,000 beds, including more than 39 buildings delivered and 7 under development. Cedar Podium is committed to better student outcomes and giving back directly to Canadian Post-Secondary Institutions and their students. Media contactElizabeth Bartlettelizabeth_bartlett@ SOURCE Manulife Investment Management View original content to download multimedia:
Cision Canada
21-05-2025
- Business
- Cision Canada
Manulife Investment Management and Cedar Podium Investment Management to Partner on Zero-Carbon Student Housing Project in Kingston, Ontario Français
TORONTO, May 21, 2025 /CNW/ - Manulife Investment Management ("Manulife IM") and Cedar Podium Investment Management announced today a strategic partnership to develop a purpose-built student housing (PBSH) residence in Kingston, Ontario, strategically located downtown with direct access to Queen's University. Located at 283 Queen Street, the 15-storey development will provide 389 fully furnished bedrooms (178 units) and a suite of modern amenities, including a fitness centre, study areas, a social lounge, and centralized laundry facilities. The project is designed to meet Canada Green Building Council's (CaGBC) Zero Carbon Design certification and is targeting a 2-star Fitwel ® rating—demonstrating a strong commitment to sustainability, health, and wellness. This marks the inaugural collaboration between Cedar Podium and Manulife IM, laying the groundwork for a large-scale partnership focused on delivering high-quality, professionally managed student housing across Canada. The alliance combines deep sector expertise to help address the growing shortage of student accommodation nationwide. "Kingston is a top-tier destination for students, and this development represents a major step forward in supporting its growth," said Bernard Luttmer, CEO of Cedar Podium Investment Management. "Our partnership with Manulife IM reflects a shared commitment to sustainable, long-term solutions in the student housing sector." "As demand continues to grow, we see purpose-built student housing as a compelling opportunity to invest in resilient, community-enhancing assets, in an alternative asset class with significant tailwinds. We look forward to working alongside Cedar Podium on this forward-thinking strategic venture," said Marc Feliciano, Global Head of Real Estate at Manulife Investment Management. "Additionally, we believe additional student beds have an indirect positive impact on the broader housing market, as they can be a catalyst for conventional multifamily inventory to be released as students transition into these available assets." Kingston consistently ranks among Canada's best cities for students, known for its affordability, quality of life, and academic excellence, anchored by institutions like Queen's University. However, a critical housing shortage threatens to limit its potential. Research by global advisory firm Bonard highlights the lack of available student beds as a significant barrier to institutional growth and Canada's ability to attract international students. Historically dominated by small-scale, private landlords, the student housing sector is undergoing a transformation. Rising enrollment and limited supply have created urgent demand for professionally developed scalable solutions. This Kingston development aims to meet that demand with sustainability, livability, and accessibility at its core. Site preparation is currently underway, and full construction is expected to begin in Q2 2025. Completion and occupancy is targeted for Fall 2027. About Manulife Wealth & Asset Management As part of Manulife Financial Corporation, Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to 19 million individuals, institutions, and retirement plan members worldwide. Our mission is to make decisions easier and lives better by empowering people today to invest for a better tomorrow. As a committed partner to our clients and as a responsible steward of investor capital, we offer a heritage of risk management, deep expertise across public and private markets, and comprehensive retirement plan services. We seek to provide better investment and impact outcomes and to help people confidently save and invest for a more secure financial future. Not all offerings are available in all jurisdictions. For additional information, please visit Cedar Podium Investment Management is a Canadian purpose-built student accommodation (PBSA) investment firm formed through a partnership between Pamoja Capital, Cedar Pacific Investment Management and Podium Group. The firm brings together global funds management expertise and Podium's local market knowledge to deliver high-quality student accommodation across Canada. The team has over $1.5 billion invested in the PBSA sector across 19,000 beds, including more than 39 buildings delivered and 7 under development. Cedar Podium is committed to better student outcomes and giving back directly to Canadian Post-Secondary Institutions and their students.
Cision Canada
21-05-2025
- Business
- Cision Canada
Manulife Investment Management Continues Active ETF Expansion with Four New ETF Series Offering a Range of Equity and Fixed-Income Opportunities Français
C$ unless otherwise stated TORONTO, May 21, 2025 /CNW/ - Manulife Investment Management announced today it has launched four new ETF series. The new ETF series securities offer access to Manulife Fundamental Equity Fund, Manulife Canadian Equity Class, Manulife Core Plus Bond Fund, and Manulife Dividend Income Fund (the "Manulife Funds"). The Manulife Funds closed their initial offering of ETF series securities and will begin trading on the Toronto Stock Exchange today. "We're launching additional ETF series to provide even more choice to advisors with the flexibility and intraday liquidity that ETFs series securities can offer," said Jordy Chilcott, Head of Retail Intermediary Distribution, Canada, Manulife Investment Management. "We are excited to bring these investment strategies from our seasoned investment teams in an ETF structure to help advisors customize portfolios with active solutions that best fit their clients' goals and outcomes." New ETF Series Manulife Core Plus Bond Fund – ETF Series (Ticker: MCOR) provides investors exposure to a mix of government and corporate bonds, both investment grade and high yield. This fund takes an active approach to portfolio construction, making it an option for investors looking for a diverse set of bond holdings and optimized returns. Manulife Fundamental Equity Fund – ETF Series (Ticker: MFUN) provides investors access to both Canadian, U.S., and global equities. This fund focuses on companies exhibiting sustainable business models, predictable cash flows and growing dividends, providing steady income and long-term growth potential. Manulife Canadian Equity Class – ETF Series (Ticker: MCAN) provides investor access to Canadian equities. This fund focuses on companies exhibiting sustainable business models, predictable cash flows and growing dividends, providing steady income and long-term growth potential. Manulife Dividend Income Fund – ETF Series (Ticker: MDIF) provides investors with exposure to Canadian, U.S., and global dividend-paying businesses. This portfolio ensures that revenue and earnings come from many different sources, providing access to a fixed monthly income source as well as potential growth. Commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and ETF series. Please read the ETF Facts and prospectus before investing. ETFs and ETF series are not guaranteed, their values change frequently, and past performance may not be repeated. Manulife ETFs and ETF series of Manulife Funds are managed by Manulife Investment Management. Manulife Investment Management is a trade name of Manulife Investment Management Limited. About Manulife Wealth & Asset Management As part of Manulife Financial Corporation, Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to 19 million individuals, institutions, and retirement plan members worldwide. Our mission is to make decisions easier and lives better by empowering people today to invest for a better tomorrow. As a committed partner to our clients and as a responsible steward of investor capital, we offer a heritage of risk management, deep expertise across public and private markets, and comprehensive retirement plan services. We seek to provide better investment and impact outcomes and to help people confidently save and invest for a more secure financial future. Not all offerings are available in all jurisdictions. For additional information, please visit
