Latest news with #TDSecurities
Business Recorder
3 hours ago
- Business
- Business Recorder
Trade worries weigh on Asia FX
BENGALURU: South Korean shares jumped to a 10-month high and the won firmed on Wednesday after liberal candidate Lee Jae-myung won the presidential election, while other regional currencies were tepid as investors awaited developments in trade talks with the US. Lee began his term on Wednesday, just hours after his victory in Tuesday's snap election. He has vowed to bring corporate reform measures to boost the domestic stock market, raise investment in artificial intelligence, and revive an economy reeling from slowing growth. With South Korea's key sectors from chips to autos heavily exposed to global trade, all eyes will also be on Lee's ability to negotiate a favourable trade deal with the US The country's benchmark stock index KOSPI surged 2.5% to its highest level since early August 2024. The won, which is up more than 7% this year, appreciated 0.2% to 1,374.4 per dollar. Analysts at TD Securities said 'better days' are ahead for the won. 'The risk premium from the political turmoil in Dec'24 have capped KRW's gains relative to peers amid the USD sell off this year. We see two wins for KRW on the horizon with an imminent fiscal package and a swift US-South Korea trade deal,' they said in a note. Other regional currencies were either flat or marginally lower against the greenback as the market focus turns to a Wednesday deadline for countries to submit their best proposals for trade deals with the US and thus a chance to avoid Trump's hefty tariffs. A possible call between Trump and Chinese leader Xi Jinping is also in the spotlight this week. Trade tensions between the world's two biggest economies have flared anew since Trump accused China of violating an agreement to roll back tariffs and trade restrictions – claims Beijing has dismissed as 'groundless'.
Business Insider
6 days ago
- Business
- Business Insider
TD Securities downgrades Starbucks (SBUX) to a Hold
Starbucks (SBUX – Research Report) received a Hold rating and a $90.00 price target from TD Securities analyst yesterday. The company's shares closed yesterday at $84.05. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Starbucks has an analyst consensus of Moderate Buy, with a price target consensus of $94.55, representing a 12.49% upside. In a report released yesterday, TD Cowen also downgraded the stock to a Hold with a $90.00 price target. The company has a one-year high of $117.46 and a one-year low of $71.55. Currently, Starbucks has an average volume of 11.87M.
Yahoo
25-05-2025
- Business
- Yahoo
Idea of Sell America Is a Big Problem for Treasuries: Goldberg
TD Securities Head of US Rates Strategy Gennadiy Goldberg says US is the leader of global bond movements, "if we can get our rates under control that will get reverberated throughout the globe." He speaks with Vonnie Quinn on "Real Yield." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
The dollar could lose its crown as an 'unfortunate truth' forces investors to rethink US assets
The US dollar is under pressure as global investors grow increasingly wary of America's fiscal trajectory. Once seen as a reliable safe haven, the greenback is now facing renewed skepticism, with strategists telling Yahoo Finance that capital is shifting toward undervalued currencies in Europe and Asia amid expectations of foreign stimulus and more attractive valuations abroad. The US Dollar Index ( — which tracks the dollar's value against a basket of major currencies including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc — has dropped more than 8% since the start of the year, underperforming every other G10 currency, according to Bloomberg data. It ranks as one of the worst-performing asset classes of the year, alongside Brent Crude (BZ=F). Since April, the index has dipped below the crucial technical and psychological level of 100, hitting lows not seen since 2022. "Investors now have a very strong reason to hedge their long US asset exposure, and the dollar is no longer behaving like a safe haven," Jayati Bharadwaj, FX and macro strategist at TD Securities, told Yahoo Finance on Wednesday. "I would say it's actually following much more of an emerging market playbook, which is the unfortunate truth that we need to come to terms with." Bharadwaj cited mounting US debt and policy uncertainty as key catalysts behind the dollar's decline. Last week's credit rating downgrade by Moody's only deepened market concerns. Adding to the fiscal anxiety, the House of Representatives on Thursday approved President Trump's sweeping tax reform package, otherwise known as the president's "big, beautiful bill." The proposal includes significant cuts to both individual and corporate tax rates and is projected to increase the national debt by $4 trillion over the next decade. The legislation now moves to the Senate for consideration. "The volatility associated with the current administration's policies is a big confidence shock, which is actually forcing other countries to step up their local fiscal policies and work on fostering stronger trade relationships amongst themselves," Bharadwaj said, noting that it ultimately reduces foreign nations' dependence on the US. As a result, Bharadwaj expects the dollar to keep weakening gradually, with another 5% drop likely by year-end. A weaker dollar adds to inflation by driving up import costs, an issue compounded by tariffs that remain near their highest levels since World War II. "The dollar going down is going to add to inflation pressure and reduce purchasing power," Kevin Gordon, senior investment strategist at Charles Schwab, told Yahoo Finance. Gordon highlighted that during the 2021 to 2023 inflation surge, the dollar's strength acted as a partial hedge against rising prices. But with the greenback now weakening and inflation still elevated, that protective buffer is fading. On top of that, tariffs have added further pressure by reducing capital inflows, or the money coming into the US from foreign investors seeking American assets. The shift comes at a challenging time for US policymakers, with President Trump's "Liberation Day" tariff announcement fueling concerns of a broader "sell America" trade, in which US stocks fall, the dollar weakens, and Treasury yields rise. While some of those worries eased after a partial tariff rollback, Deutsche Bank said foreign investors remain wary of America's fiscal trajectory. Read more: How to protect your money during turmoil, stock market volatility To be sure, despite recent weakness, strategists say the US dollar remains dominant in global finance, accounting for about 80% of trade finance and nearly half of global bond issuance. Charles Schwab's Gordon described current softness as a "positioning adjustment" driven by sentiment and portfolio shifts rather than fundamental changes, especially after the dollar's strong bull run since 2011. "The scale is still very much in favor of the dollar, disproportionately so," he said. TD's Bharadwaj echoed this view, calling the recent moves a "healthy recalibration." "For the longest time, most markets became a pure US move and a pure dollar bet," she said. "Now you can actually start to focus on local, idiosyncratic stories." While she doesn't expect the US to lose its "crown" currency status, she noted that "other princes and princesses" may start to take the stage. Alexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
16-05-2025
- Business
- Globe and Mail
Énergir Announces a Private Placement of $300 Million Series 2025-1 First Mortgage Bonds
MONTRÉAL, May 15, 2025 (GLOBE NEWSWIRE) -- Énergir Inc. and Énergir, L.P. announce today a private placement by Énergir, L.P. of $300 million aggregate principal amount of Series 2025-1 First Mortgage Bonds (the 'Series 2025-1 Bonds'). The Series 2025-1 Bonds will be secured by a hypothec on the assets of Énergir, L.P. The Series 2025-1 Bonds, bearing interest at the rate of 4.65% per annum, are expected to be dated May 20, 2025 and to mature on May 20, 2055 and would be issued at a price of $998.87 per $1,000 principal amount. The Series 2025-1 Bonds have been assigned a provisional rating of A by Standard & Poor's and a provisional rating of A by DBRS Limited. Closing of the offering of the Series 2025-1 Bonds is expected to occur on May 20, 2025, subject to customary closing conditions. Énergir, L.P. intends to use the proceeds to repay existing indebtedness and for general corporate purposes. The Series 2025-1 Bonds are offered on an agency basis through a syndicate of dealers led by BMO Nesbitt Burns Inc., Scotia Capital Inc. and TD Securities Inc., as joint bookrunners and co-lead private placement agents, together with CIBC World Markets Inc., Desjardins Securities Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Merrill Lynch Canada Inc., Mizuho Securities Canada Inc. and Casgrain & Company Limited, as agents. The Series 2025-1 Bonds have not been and will not be qualified for distribution to the public under applicable Canadian securities laws and, accordingly, any offer or sale of the Series 2025-1 Bonds in Canada is being made on a basis which is exempt from the prospectus requirements of such securities laws. The Series 2025-1 Bonds have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered, sold or delivered in the United States of America or its territories or possessions or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Series 2025-1 Bonds in the United States. About Énergir Inc. and Énergir, L.P. Énergir Inc. mainly holds a 71% interest in Énergir, L.P., for which it acts as the General Partner. With more than $11 billion in assets, Énergir, L.P. is a diversified energy business whose mission is to meet the energy needs of approximately 540,000 customers and the communities it serves in Quebec and Vermont in an increasingly sustainable way. Énergir, L.P. is the largest natural gas distribution company in Quebec, where, through its joint ventures, it also generates electricity from wind power. And through its subsidiaries and other investments, Énergir, L.P. has a presence in the United States, where it generates electricity from hydraulic, wind and solar sources; it is also the largest electricity distributor and the sole pipeline natural gas distributor in the State of Vermont. Énergir, L.P. values energy efficiency and invests its resources and continues its efforts in innovative energy projects, such as renewable natural gas and liquefied and compressed natural gas. Through its subsidiaries, it also provides a variety of energy services. Énergir, L.P. strives to become the partner of choice for those seeking a better energy future. Forward-Looking Statements This news release contains forward-looking statements, including, but not limited to, statements relating to the expected timing completion and use of proceeds of the proposed sale of Series 2025-1 Bonds and other statements that are not historical facts. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from expectations expressed in or implied by such forward-looking statements. The forward-looking statements contained in this news release are as at the date of this news release and, Énergir Inc. and Énergir, L.P. assume no obligation to update or revise any forward-looking statements to reflect new events or circumstances except as required by applicable securities laws. Forward-looking statements are provided herein for the purpose of giving information about the proposed private placement referred to above. Readers are cautioned that such information may not be appropriate for other purposes. The timing and completion of the abovementioned proposed sale of the Series 2025-1 Bonds is subject to customary closing terms and other risks and uncertainties. Accordingly, there can be no assurance that the proposed sale of the Series 2025-1 Bonds will occur, or that it will occur at the expected time indicated in this news release.
