Flash News

TREE NEWS reports: US investment-grade bond sales are projected to reach a record $1.76 trillion. The figure marks the highest annual volume on record for high-grade corporate debt issuance. No further details on the forecast’s timing or source were provided.

TREE NEWS reports: Fitch Ratings’ head of US economic research said the breadth of US inflation had already widened before the recent acceleration in headline price growth. The remarks indicate the inflation rise is not entirely due to energy factors, and that broader price gains could slow the return to target even if energy pressures ease, keeping monetary policy tighter for longer.

TREE NEWS reports: The Hang Seng Index main futures contract closed down 0.01% at 23,233 points in the night session, while the Hang Seng Tech Index main futures contract gained 0.08% to 3,865 points. The split close left the benchmark flat and the tech gauge modestly higher.

TREE NEWS reports: The onshore yuan closed at 6.6695 per dollar at 03:00 Beijing time, up 9 pips from Friday’s night-session close. Trading volume for the session totaled $38.581 billion.

TREE NEWS reports: Polymarket priced Luiz Inácio Lula da Silva at roughly 20% to win Brazil’s presidential election before voting, with Flávio Bolsonaro at 80%, and Lula went on to win a fourth term. Large trader FhantomBets said retail traders were bearish on Lula, inflating Bolsonaro’s odds, while professional traders saw Lula at close to 30%-40% on election day. CoinShares researcher Luke Nolan and TxODDS CEO Einar Knobel pointed to Brazil’s ban on prediction markets as a key source of the mispricing; Knobel said the market drew most traders from outside Brazil and carried only 4.5% of the volume of the 2024 U.S. presidential market.

TREE NEWS reports: Fitch Ratings said US inflation has become more diffuse than in other advanced economies over the past year, raising the risk that price pressures prove more persistent than current core inflation data suggest. In September, 46% of US CPI components showed year-on-year inflation above 3%, double the 23% average in 2018-19. The breadth of gains shows price pressures have extended beyond energy into broader goods and services, and could keep US interest rates higher for longer.

TREE NEWS reports: WTI December crude futures settled $1.51 lower, a decline of more than 1.46%, at $101.76 a barrel. NYMEX November natural gas settled at $2.6020 per million British thermal units. November gasoline settled at $3.2185 a gallon and November heating oil at $4.9120 a gallon.

TREE NEWS reports: Shanghai crude oil futures for the December 2612 contract closed down 0.87% at 733.30 yuan per barrel in night trading. Shanghai gold rose 0.4% and Shanghai silver gained 0.31% in the same session.

TREE NEWS update: SpaceX has closed a $40 billion chip deal with Apollo, Elon Musk said, as lenders pull back from smaller AI cloud providers. Musk warned that most neoclouds will fail, a split he said could determine who controls computing capacity. The deal is one of the largest known commitments for AI chips and comes as financing for smaller AI cloud firms tightens.

TREE NEWS update: Iran’s Security Council Secretary Rezaei said visits by senior Turkish, Pakistani and Saudi officials show US threats have little impact on world countries. The officials believe regional problems should be resolved through cooperation among the four countries. Rezaei concluded that security in West Asia must be achieved internally and any foreign interference must be prevented.

TREE NEWS update: Iran’s Supreme Leader said the key to Iran’s further strength lies in its elite’s ability to push the boundaries of scientific knowledge and find solutions to the country’s scientific challenges. He made the remark in a statement, framing scientific advancement as central to national power. No further details or policy measures were disclosed.

TREE NEWS update: Several right-wing and center-right Brazilian parties that had backed Flávio Bolsonaro, son of former President Jair Bolsonaro, announced on April 25 that they recognize incumbent President Luiz Inácio Lula da Silva’s election victory. The parties said they do not support the Liberal Party’s push to annul the result and hold a new election, Brazilian media reported on April 26.

TREE NEWS reports: France’s 10-year government bond yield fell 11.7 basis points to 4.902% in late European trading on Monday, its second straight session of decline after hitting 5.143% on Oct. 22. Moody’s took no rating action on France last Friday despite recent unrest, and the yield drop lowered French government financing costs. The two-year yield fell 5.8 bps to 3.744% and the 30-year fell 8.7 bps to 5.401%.

TREE NEWS reports: LME copper closed $5 higher at $14,328 a tonne, while nickel fell $287 to $15,561 a tonne in mixed base metals trading. Zinc rose $70 to $3,814, lead gained $16 to $1,923 and tin added $500 to $51,017, while aluminium slipped $3 to $3,040 and cobalt was unchanged at $34,620.

TREE NEWS update: Russian steel producer Severstal said its mining and processing plant in Belgorod region has regained power after an earlier outage caused by a Ukrainian drone attack. The plant has resumed normal operations, and the company said the strike caused no injuries.

TREE NEWS update: Spain’s National Police on Oct. 26 deported seven migrants from the autonomous city of Ceuta to Morocco. The migrants had entered Ceuta on July 30 and 31, were held at a temporary migrant center, and had no right to asylum.

TREE NEWS update: Iranian Foreign Ministry spokesperson Baghaei said on the 26th that sustainable regional security must be built on mutual trust and cooperation among regional countries. At a press conference in Tehran, he accused the United States of launching a military strike on Iran over the nuclear issue. He made the remarks while taking questions on regional tensions and Iran-US relations.

TREE NEWS update: Ukrainian President Volodymyr Zelensky on Oct. 26 signed legislation extending the country’s martial law and general mobilization for another 90 days, through Jan. 29, 2027. Earlier the same day, Zelensky submitted the draft decree to the Verkhovna Rada, which then approved the extension to that date.

TREE NEWS reports: German two-year Bund yields rose 4.9 basis points to 3.111% in late European trading on Monday, October 26, moving within a 3.056%-3.115% range. The 10-year yield gained 2.1 bps to 3.367%, while the 30-year added 1.3 bps to 3.694%. The 2/10-year spread narrowed 2.730 bps to +25.345 bps.

TREE NEWS reports: The UK 10-year gilt yield fell 1.2 basis points to 5.344% in late European trading on Monday, Oct. 26, touching 5.297% at 22:39 Beijing time. The two-year yield rose 2.1bp to 4.934%, while the 30-year and 50-year yields fell 1.0bp and 1.1bp respectively. The 2s/10s spread narrowed by 3.365bp to +40.892bp.