Flash News

TREE NEWS reports: President Donald Trump is expected to roll back some US tariffs on Canada, possibly halving some of the levies, with an announcement expected as soon as Friday. Washington may offset the move by raising other taxes. The step would be politically helpful to Senator Susan Collins.

TREE NEWS reports: Speculative net long positions in Brent crude oil increased by 8,852 contracts to 241,881 lots in the week to October 20. The figure reflects the aggregate net long positioning held by speculative traders in ICE Brent futures during that week.

TREE NEWS update: Germany’s national oil reserve agency EBV issued a tender on Friday to sell diesel, heating oil and crude from its strategic reserves, a document showed. A trader who received an invitation to buy the reserve oil said it was Germany’s first release of strategic petroleum reserves since the G7 reached an agreement in early October. Under pressure from US President Donald Trump, the G7 agreed to release 100 million barrels from emergency reserves to ease market tightness.

TREE NEWS update: Elon Musk said the reality in Ukraine is a vast gap in interests between the elite and ordinary citizens, with the former profiting from the hundreds of billions of dollars flowing into the country while the latter’s children are conscripted and killed in trenches. He also said part of U.S. taxpayer money returns through multiple money-laundering channels to fund U.S. political campaigns, which is why some politicians care more about Ukraine than about America.

TREE NEWS reports: Wells Fargo strategists recommended betting on higher US duration assets and a weaker dollar ahead of the November 3 midterm elections, in a report dated Friday. Erik Nelson, Angelo Manolatos and Francis Brown wrote that the two most likely outcomes — a Democratic sweep or a Democratic House with a Republican Senate — would both bring a modest negative fiscal shock. A Democratic sweep could hurt AI-themed trades, lifting Treasuries and weighing on the dollar, they said.

TREE NEWS reports: The Federal Reserve’s overnight reverse repurchase agreement (RRP) facility saw $200 million in usage on Friday, October 23, with one counterparty, down from $351 million the previous trading day. The RRP facility is a key tool the Fed uses to manage short-term interest rates and absorb excess liquidity from the financial system.

TREE NEWS reports: Two senior Iranian security officials said Iran has drawn up a detailed plan to strike subsea communications cables in the Gulf if the US and Israel attack Iran again. One official said Iran could also prevent repairs to damaged cables to prolong outages of internet and other communications services, warning that if Iran is attacked “there will be no red lines” and both subsea cables and military bases could be targets.

TREE NEWS reports: The International Copper Study Group (ICSG) reported that the global refined copper market recorded a surplus of 132,000 tonnes in August 2026. The figure reflects the balance between global production and consumption of refined copper for the month.

TREE NEWS reports: The U.S. total rig count stood at 603 for the week of Oct. 23, unchanged from the prior week’s 603. The flat reading marks a pause in drilling activity after the previous week’s level. The tally covers both oil and gas rigs.

TREE NEWS reports: International copper rose 1.34% in overnight trading, while Shanghai copper gained 0.99%, Shanghai aluminum 1.62%, Shanghai zinc 1.34% and Shanghai tin 1.81%. Shanghai lead edged up 0.09%, Shanghai nickel fell 0.55% and alumina dropped 0.51%. Aluminum alloy rose 1.70% and stainless steel closed flat.

TREE NEWS update: BP has reached an agreement with the US state of Louisiana over the Deepwater Horizon dispute, the company confirmed. The settlement resolves the state’s claims tied to the 2010 Gulf of Mexico oil spill. No financial terms or payment figures were disclosed in the announcement. The agreement closes one strand of litigation stemming from the disaster.

TREE NEWS reports: The UK 10-year gilt yield rose 3.1 basis points to 5.356% in late European trading on Friday, ending the week down 1.7 basis points. It had climbed to 5.449% before the US open on Oct. 20 before falling steadily to 5.310% early in the European session on Oct. 23. The 30-year yield fell 8.7 basis points on the week to 5.757%, while the two-year rose 3.6 basis points to 4.913%.

TREE NEWS reports: London Metal Exchange copper closed up $244 at $14,322 a tonne, leading gains across most base metals. Aluminum rose $34 to $3,044, zinc added $72 to $3,744, lead gained $10 to $1,908, and tin climbed $428 to $50,517. Nickel was the outlier, falling $272 to $15,848 a tonne, while cobalt settled flat at $34,620.

TREE NEWS reports: Germany’s 10-year Bund yield rose 1.1 basis points to 3.345% on Friday, narrowing its weekly decline to 8.1 basis points after trading between 3.467% and 3.309%. The two-year yield added 2.7 bps to 3.062%, down 4.7 bps on the week, while the 30-year yield fell 11.5 bps to 3.681%. The 2/10-year spread narrowed 3.371 bps to +28.075 bps.

TREE NEWS reports: France’s 10-year government bond yield fell 5.7 basis points to 5.019% in late European trading on Friday, Oct. 23, marking its largest single-day decline since Oct. 6, though it still rose 21.4 basis points over the week after climbing from Oct. 19 to Oct. 22. The 30-year French yield dropped 5.1 basis points to 5.448%, while the two-year was roughly flat at 3.802%. Italian, Spanish and Greek 10-year yields ended the week higher.

TREE NEWS update: Iran’s central bank governor said the country remains able to finance its imports despite economic pressure from Washington, and that this capacity will extend beyond US President Donald Trump’s term. The remarks address Iran’s import financing capability under sustained US sanctions pressure.

TREE NEWS update: Russian Armed Forces Chief of General Staff Valery Gerasimov announced a cessation of hostilities and a “silent regime” in the Kherson direction from 4:00 a.m. Moscow time on October 27, 2026. The White House said the same day that the United States brokered a ceasefire between Russia and Ukraine in Oleshky, Kherson region, under which both sides agreed to halt all military operations temporarily to allow humanitarian aid in and arrange civilian evacuation through designated safe corridors.

TREE NEWS update: Ukrainian President Volodymyr Zelensky said on Oct. 23 that he had spoken by phone with US special envoy Steve Witkoff and Jared Kushner, and that a meeting with Russian and US counterparts is planned for the first half of November. Zelensky said Ukraine is ready to meet on any day. Kremlin spokesman Dmitry Peskov said on Oct. 23 that trilateral Russian-Ukrainian-US talks on security guarantees for Ukraine will begin in Abu Dhabi in the first half of November.

TREE NEWS update: Russian presidential spokesman Dmitry Peskov said on October 23 that the military is coordinating the timeline for a ceasefire in the city of Oleshky in the Kherson region, and that the Defense Ministry may announce operational details if they can be made public. Peskov said U.S. First Lady Melania Trump played a leading role in the coordination process, and thanked the U.S., President Trump and the First Lady for their involvement in resolving humanitarian issues.

TREE NEWS update: First Quantum Minerals is expected to apply for Argentina’s Large Investment Incentive Regime (RIGI) before the end of the year for its Taca Taca copper project, which carries an investment of up to $5.25 billion, Foreign Minister Pablo Quirno said. Taca Taca is one of the world’s largest undeveloped copper projects, with production targeted for 2030, a mine life of about 35 years and average annual output of roughly 290,000 tonnes in its first decade.