Flash News

TREE NEWS reports: At least five credit-focused portfolio managers have left Brevan Howard Asset Management as turmoil in credit markets weighs on the hedge fund industry. Simon Gee, Jenna Collin, Adam Steer, Chris Watson and David Heinau have departed, people familiar with the matter said. The exits come amid broader stress in credit trading that is hitting hedge funds.

TREE NEWS update: Google made its Gemini Omni 1.2 Flash model generally available on Google Cloud starting today. The model’s 720p video generation price falls 30% to $0.07 per second, the company said. The release expands access to the video-capable Gemini variant for cloud customers.

TREE NEWS update: Aave will hold a vote on adding Babylon native Bitcoin collateral to its V4 protocol, with LlamaRisk proposing a 300 BTC collateral cap. Activating the market would still require a separate onchain governance vote, meaning the initial vote does not immediately enable Bitcoin-backed borrowing on Aave.

TREE NEWS reports: Bitcoin slid below $77,000 and ether sank 7%, with the total crypto market value falling 6.8% over 24 hours. The move gave back much of bitcoin’s post-election rebound from Wednesday. The selloff marked a sharp reversal after the earlier rally.

TREE NEWS update: Google will invest $17 billion to build its first company-owned data center in Wyoming, the company said. The facility marks a shift from leased capacity to owned infrastructure for the tech giant. No timeline or capacity details were disclosed.

TREE NEWS update: OpenAI released GPT-6 Cyber to a small group of vetted customers, a model designed to find and exploit security vulnerabilities, and rated its cybersecurity risk as “critical” under its safety framework. OpenAI said the model is intended to help security researchers identify flaws, test how they can be exploited and fix them before attackers succeed, citing growing attempts by malicious actors to misuse AI.

TREE NEWS reports: Freddie Mac said the US 30-year fixed mortgage rate averaged 7.18% last week, down from 7.24% the prior week and marking a third consecutive weekly decline. The reading tracks the benchmark home loan rate for the week.

TREE NEWS update: SoFi reported that a crypto vendor issue is delaying customer deposits and withdrawals, with incoming transfers awaiting review and outgoing transfers to be processed after review. The bank assured customers that their funds are secure. The disruption affects crypto-related transfers on the platform.

TREE NEWS update: US First Lady Melania Trump met Russian and Ukrainian representatives at the White House on November 5, urging a lasting peace after brokering a humanitarian agreement. She said both sides agreed to her mediation, signing a written pact on October 23 to deliver emergency aid and safe evacuation corridors for civilians in the Aleshki area. She called for broader peace cooperation starting from that ceasefire.

TREE NEWS reports: ICE UK natural gas futures closed up 2.37% at 223.580 pence per therm on Thursday, Nov. 5, after touching a session low of 207.870 pence at 15:10 Beijing time and then climbing steadily. The TTF benchmark Dutch gas contract gained 6.12% to 89.741 euros per megawatt-hour, rebounding from a low of 83.625 euros. ICE EU carbon allowance futures fell 1.1%.

TREE NEWS update: Canary Capital’s Staked INJ ETF began trading on Nasdaq, giving investors exposure to Injective’s INJ token plus staking rewards reflected in the fund’s net asset value. The product is the latest crypto ETF from the asset manager to list on a U.S. exchange.

TREE NEWS reports: French 10-year government bond yields rose 2.3 basis points to 4.797% in late European trading on Thursday, Nov. 5, after a V-shaped reversal from a session low of 4.709% at 18:35 Beijing time. Italian 10-year yields added 2 basis points to 4.333%, Greek 10-year yields gained 2.1 basis points to 4.133%, and Spanish 10-year yields rose 0.7 basis point to 3.834%.

TREE NEWS reports: Bitcoin fell 6% to a seven-week low at the Wall Street open, as US stocks staged a snap sell-off that erased their post-election gains. The sudden downside in the largest cryptocurrency came as equity markets reversed earlier advances, with the moves unfolding at the start of the US trading session.

TREE NEWS update: China General Nuclear Power Group’s “zero-carbon” solar-storage thermal demonstration project in the Ali region of Tibet connected its first unit to the grid on Nov. 6, making it the world’s highest-altitude grid-connected concentrated solar power plant. The project is expected to further strengthen clean energy supply security in the Ali region.

TREE NEWS reports: A sharp selloff in US stocks, with technology shares hit hardest, erased $152.9 billion from the fortunes of five tech billionaires in a single day, Forbes’ real-time billionaire ranking showed. Elon Musk lost $91.2 billion, or 10.50% of his net worth, accounting for nearly 60% of the combined decline. Michael Dell fell $20.5 billion, Jensen Huang $15.1 billion, Larry Ellison $13.2 billion and Mark Zuckerberg $12.9 billion.

TREE NEWS reports: Argentina’s 2035-maturity sovereign dollar bond fell to 63.25 cents on the dollar, its lowest level in over a year, as the country’s global bonds sold off following the US election result. The 2030 and 2035 notes each dropped nearly 2 cents, pushing the sovereign spread above 900 basis points. Analysts at local brokerage Allaria cited heightened risk that Argentina could lose access to the US-provided Exchange Stabilization Fund used to defend the peso.

TREE NEWS reports: The S&P 500 Equal Weight Index dropped 2%, signaling broad-based weakness across U.S. equities rather than losses concentrated in a few heavyweight names. The move reflects selling pressure spread across sectors, in contrast with the cap-weighted S&P 500, where megacap stocks can mask underlying breadth. No further details on the timing or drivers of the decline were provided.

TREE NEWS update: Iran’s Supreme National Security Council Secretary Ali Rezaei discussed ending the war during a meeting with Russian President Vladimir Putin, the two sides addressed the issue of bringing the conflict to a close. The meeting between the senior Iranian security official and the Russian president focused on the war’s termination.