Flash News

TREE NEWS update: Several explosions were heard in the Sirik area of southern Iran at around 21:00 local time on the 21st. The nature and origin of the blasts are not yet known. No further details were immediately available.

TREE NEWS reports: US-Mexico trade negotiations have stalled over steel and aluminum tariffs, dashing optimism that a deal was near and pushing major progress to possibly after the midterm elections, people familiar said. US officials including Commerce Secretary Lutnick objected to Mexico’s demand for lower metals tariffs. Talks, previously led by US Trade Representative Greer, cooled as Lutnick sought a bigger role; his proposals failed to address Mexican concerns.

TREE NEWS reports: WTI December crude futures settled down 0.67 USD, or more than 0.68%, at 97.15 USD per barrel, marking a third consecutive session of declines since closing at 99.02 USD on October 16. The contract had touched 101.37 USD intraday on October 20. NYMEX November natural gas settled at 2.79 USD per million British thermal units, with November gasoline at 3.1205 USD per gallon and November heating oil at 4.7633 USD per gallon.

TREE NEWS reports: The Shanghai Futures Exchange’s crude oil 2612 contract closed down 1.50% in night trading at 690.30 yuan per barrel. Shanghai gold rose 0.29% in the night session, while Shanghai silver slipped 0.06%.

TREE NEWS reports: Yields on B-rated junk bonds, four to six notches below investment grade, rose to 8.39% on Tuesday, the highest in 18 months. Yields on weaker CCC-rated bonds surged to 15.7%, a four-year high.

TREE NEWS reports: At least seven companies in Europe and the US have postponed more than $5 billion in bond and loan transactions this month, the largest wave of deferrals this year, as investor concerns over interest rates, inflation and AI intensify. AVI-SPL abandoned a $690 million US leveraged loan financing in the past week, while Mesirow Financial delayed a bond backed by a mortgage on a Midtown Manhattan office building.

TREE NEWS update: Canada’s federal government and the province of Ontario announced a joint support package totaling C$9 billion to help the steel and automotive industries cope with US tariffs, while also strengthening critical mineral supply chains. The measure was disclosed as a combined federal-provincial initiative. No further breakdown of the funding was provided.

TREE NEWS update: Ukrainian President Volodymyr Zelensky said the United States has proposed that a trilateral working group meet as soon as possible, and Ukraine supports holding talks at the negotiator level without delay. The talks could cover peace matters and a possible leaders’ summit. Ukraine wants the meeting to take place no later than early November.

TREE NEWS update: The US Treasury accepted $4.751 billion of Treasury securities maturing between 2028 and 2036 in its latest buyback operation. The operation targeted notes and bonds in that maturity range, with the Treasury purchasing the securities from market participants. The buyback is part of the Treasury’s regular debt management operations aimed at improving liquidity in the market for older, less-traded government debt.

TREE NEWS update: Saudi Arabia has suspended imports of chicken from Brazil’s Santa Catarina state, the country’s second-largest poultry-producing state. The suspension order applies to poultry products originating from Santa Catarina, a major exporter of halal chicken to the kingdom. No reason for the suspension or its duration was given.

TREE NEWS update: Italy will approve a set of new measures covering transport and agriculture on Thursday. No further details on the content or scope of the measures were provided. The approvals are scheduled for Thursday.

TREE NEWS update: The U.S. Treasury Department on Oct. 21 imposed a new round of sanctions on Iran, targeting law firms based in Panama and Greece that it said have for years supported Iranian illicit shipping activity and indirectly helped Tehran raise revenue for its military, weapons and nuclear programs. The action also sanctioned shipping agencies based in Singapore and the UAE for directly assisting Iran’s “shadow fleet” operations, and targeted cargo vessels generating revenue for Iran.

TREE NEWS update: Kuwait Petroleum Corporation’s chief executive said crude oil exports have returned to pre-war levels, with customers already traveling to the Gulf region to collect cargoes. The statement, carried in a brief market update, did not specify volumes or a timeline for the recovery. The Gulf state’s export recovery comes as global oil markets remain sensitive to supply disruptions in the region.

TREE NEWS reports: Germany’s two-year government bond yield rose 4.4 basis points to 3.127% on Wednesday, trading between 3.084% and 3.127% throughout the day. The 10-year yield gained 2.1 basis points to 3.421%, while the 30-year yield slipped 0.3 basis point to 3.759%. The 2/10-year spread narrowed by 2.332 basis points to +29.142 basis points.

TREE NEWS reports: Bitcoin climbed to a weekly high near $84,500, recovering from October’s slide as the broader crypto market rebounded. XRP and Zcash led the rally, with the move reviving hopes for an “Uptober” finish to the month.

TREE NEWS update: Gyorgy Matolcsy, former governor of the Hungarian National Bank, was detained on Wednesday as part of an investigation into a network of foundations set up by the central bank during his tenure. Prosecutors allege the arrangements caused “particularly significant” financial losses. Since early 2025, prosecutors and police have been investigating how more than 266 billion forints (about $817 million) in central bank funds moved through these entities, following a state audit office report questioning the investments of Optima Investment Ltd.

TREE NEWS update: US Treasury Secretary Scott Bessent said Washington will pursue and sanction anyone supporting the Iranian regime, whether they are running illicit oil transfers at sea or sitting in a law firm’s executive office. In remarks carried in the material, Bessent said Iran’s enablers must choose between siding with the US or opposing it, adding that Washington knows who they are and what they have done and will keep taking action.

TREE NEWS reports: UK government bond yields fell broadly on Wednesday, with the 10-year gilt yield dropping 3.3 basis points to 5.378% and the 30-year yield sliding 5.7 basis points. The 10-year yield briefly touched a session high of 5.429% before reversing to a low of 5.354%. The two-year yield fell 3.5 basis points to 4.923%, while the 2s10s spread widened slightly to +45.398 basis points.

TREE NEWS update: Reliance Industries chairman Mukesh Ambani and his son Anant Ambani discussed the global energy landscape and its intersection with energy and digital infrastructure, including data centers, with U.S. Secretary of State Marco Rubio during his visit to Jamnagar in western India. They also exchanged views on opportunities for cooperation with U.S. companies.

TREE NEWS update: China and Russia issued a joint communique after their 31st regular prime ministers’ meeting, pledging support for companies from both countries to deepen cooperation in oil, natural gas, coal and electricity, and to keep expanding energy infrastructure connectivity. The two sides also committed to jointly safeguarding the safe and reliable operation of cross-border energy corridors.