Flash News

TREE NEWS update: North Korea conducted a live-fire test of its new ultra-high-speed precision-guided torpedo weapon system, “Submarine-2.0,” on 15 July, state news agency KCNA reported on 17 July. The test was carried out underwater by the National Defense Academy, the Missile General Bureau and the Torpedo Weapons Research Bureau to verify technical upgrades. The torpedo’s target search and guidance functions use artificial intelligence technology.

TREE NEWS reports: PJM Interconnection now expects routine power-supply strain even in mild weather, executive director of system operations Dave Souder said Friday, citing spring and fall unit outages combined with data-center-driven demand growth. Souder told a media briefing that such emergencies are becoming the new normal for the largest US grid operator.

TREE NEWS update: Mexican Economy Minister Marcelo Ebrard said US Commerce Secretary Howard Lutnick does not oppose lowering tariffs on Mexico. Ebrard’s remarks indicate Washington may be open to reducing levies on Mexican goods, a potential shift in the two countries’ trade posture. No further details or timeline were given.

TREE NEWS reports: Citigroup strategists are holding to their forecast that the US Treasury will reduce long-dated bond issuance in next month’s quarterly refunding announcement, saying questions in a survey sent to primary dealers on Friday show officials are weighing such a move. Citi expects the Treasury to cut 20-year and 30-year auction sizes by $3 billion each on November 4, citing the recent long-end selloff and weak long-bond buybacks.

TREE NEWS update: UK Business and Trade Secretary Jonathan Reynolds rejected EU demands for Britain to impose tariffs on Chinese goods, saying London will not change its trade rules under pressure from Brussels. The remarks set the UK apart from the EU’s tariff stance on China.

TREE NEWS update: President Donald Trump said UCB will invest $2 billion to build its first pharmaceutical manufacturing plant in the United States, located in Georgia. The announcement was made alongside two other US expansion commitments: Pirelli will invest $1.2 billion to expand its Rome, Georgia plant and add 1,000 jobs, while Hyundai will invest $560 million to expand its West Point facility.

TREE NEWS reports: General Cooper, commander of US Central Command, said Hezbollah, Hamas and Iraqi Shiite militias are funneling funds back to Iran’s Islamic Revolutionary Guard Corps. The Iranian government is also accused of owing wages, pensions and benefits to IRGC and public-sector personnel, as a US-Iran truce proposal reportedly remains unanswered.

TREE NEWS reports: Short sellers betting against semiconductor stocks have booked an estimated $32 billion in paper gains over the past seven days, as the Philadelphia Semiconductor Index fell more than 12%. The SOX benchmark declined for an eighth consecutive session on Friday, matching its longest losing streak since 2006. Semiconductors had been among the strongest performers in the U.S. equity market for most of the past year.

TREE NEWS update: UK Chancellor John Healey has backed plans for a third runway at Heathrow, telling reporters at the IMF annual meetings in Bangkok that “the case for a third runway at Heathrow has always been about growth.” The stance risks a split with Prime Minister Andy Burnham, who declined to say whether he supports expanding the UK’s largest airport, calling it “a matter for London and Londoners” and saying he is “open-minded.” The Department for Transport estimates the expansion would create 60,000 local jobs and deliver up to £42bn in economic benefits.

TREE NEWS reports: Mexico is expected to approve a batch of renewable electricity projects worth $12.5 billion. The approvals would cover a slate of clean-power developments in the country, though no specific projects, timelines or approving body were detailed in the material.

TREE NEWS update: The UN Security Council held its sixth straw poll on October 16 to select the next UN secretary-general, marking the first time votes were cast on colored ballots to distinguish the five permanent members. To win the council’s final recommendation, a candidate must receive at least nine “encourage” votes and face no opposition from any permanent member.

TREE NEWS reports: The two-year US Treasury yield fell 2.99 basis points to 4.7083% on Friday, October 16, with a short-lived drop before 12:00 Beijing time as Fed Chair Warsh signaled a dovish stance in Bangkok, Thailand. The 10-year yield rose 2.94bp to 5.0728%. For the week, the two-year lost 7.87bp — a third straight weekly decline — while the 10-year fell 16.51bp, its second consecutive weekly retreat.

TREE NEWS reports: The offshore yuan closed at 6.6863 per dollar in New York on Friday, up 31 pips from Thursday’s close, with intraday trade between 6.6918 and 6.6831. The level keeps CNH near its July 8, 2022 final quote of 6.6862. The offshore currency gained about 0.1% over the week.

TREE NEWS reports: FTSE China A50 index futures closed down 0.45% at 13,280 points in continuous night-session trading. The decline reflects cautious sentiment in offshore Chinese equity derivatives.

TREE NEWS reports: The euro gained 0.17% against the dollar to 1.1239 in late New York trading on Friday, October 16, closing the week up 0.35% and ending a five-week losing streak. The single currency had fallen to 1.1113 on October 14, approaching its May 12, 2025 low of 1.1065, its March 27 low of 1.0733 and its February 28 low of 1.0360.

TREE NEWS reports: Spot gold fell 0.19% to $4,163.54 an ounce in late Friday New York trade, ending the week down 0.69% after a V-shaped rebound on Oct 14-15. COMEX gold futures closed at $4,187.60, down 0.68% on the week. Spot silver dropped 0.72% to $56.9925 an ounce and lost 6.30% for the week, with an acceleration lower on Oct 14. COMEX copper futures fell 1.94% for the week to $6.5625 a pound.

TREE NEWS update: US President Donald Trump said he may have gone too far in his actions toward Iran’s leadership, adding, “I have no one to talk to.” The remark, made in comments on Iran, signals a possible shift in his posture toward Tehran. No further details or policy measures were specified.

TREE NEWS reports: MSCI’s emerging markets stock index rose 0.8% while its developing-nation currency index gained 0.2%. The moves reflect gains across emerging-market equities and foreign exchange.

TREE NEWS update: Moody’s upgraded Egypt’s sovereign credit rating to B3. The rating agency lifted the country’s assessment in its latest sovereign review. No further details on the outlook or the drivers of the upgrade were provided in the material.

TREE NEWS update: Peru’s Pamputa community has proposed acquiring a partial interest in a copper mine from MMG Ltd., the community announced. The proposal concerns a stake in one of the mining company’s copper operations in the country. No financial terms, ownership percentage or timeline were disclosed.