Flash News

TREE NEWS reports: Germany’s economy ministry raised its 2026 GDP growth forecast to 1.3% from 0.5%, citing an improving manufacturing sector. It also lifted its 2027 projection to 1.1% from 0.9%, while warning that geopolitical turmoil will slow growth to 0.6% in 2028.

TREE NEWS update: The People’s Bank of China issued a policy statement on the yuan exchange rate, saying global economic imbalances stem from the evolution of industrial division of labor, inherent contradictions in the international monetary system and gaps between national investment and savings, and are not the unilateral responsibility of surplus or deficit countries. Deficit nations should pursue fiscal consolidation and raise savings rates and competitiveness, while surplus nations should boost consumption and investment. The PBOC said attributing complex structural issues solely to the yuan is a political maneuver under protectionism and unilateralism.

TREE NEWS reports: India’s 10-year government bond yield rose 5 basis points to 7.29%. The move higher in the benchmark sovereign yield came without any further details disclosed in the material.

TREE NEWS update: South Korea’s presidential office said on the 8th that the country’s domestically developed hypersonic glide vehicle (HGV) was successfully test-fired for the first time that day, with President Lee Jae-myung watching the launch on site. The test was aimed at verifying the performance of ultra-high-temperature heat-resistant materials, guidance and control capabilities, and low-altitude irregular flight capability in a hypersonic flight environment.

TREE NEWS update: European Central Bank chief economist Philip Lane said the central bank should be trusted when it signals inflation will return to its target, calling the current episode a medium-sized shock that warrants a measured response. Lane also said food prices are expected to face upward pressure next year.

TREE NEWS update: Israel’s Ministry of Defense said on October 8 that the first Tamir interceptor for the Iron Dome air-defense system built and assembled entirely in the United States was delivered in Arkansas. The missile was produced by a joint venture of Raytheon and Rafael Advanced Defense Systems at its Arkansas plant, marking the first complete Iron Dome interceptor production line outside Israel. The US Missile Defense Agency and Israel Missile Defense Organization completed the handover; the plant will also build a US version of the Tamir for the US Marine Corps.

TREE NEWS reports: PepsiCo reported third-quarter net revenue of $25.27 billion, above the $24.95 billion market estimate, with operating profit of $4.26 billion versus $4.19 billion expected. Core earnings per share came in at $2.34, beating the $2.29 estimate. The company guided full-year organic revenue growth of about 3%, tightening its prior 2%-4% range, and its US-listed shares rose more than 1.8% in premarket trading.

TREE NEWS update: China’s National Energy Administration convened its monthly video dispatch meeting on national renewable energy power development and construction for September. The meeting stressed four priority tasks for the next stage, led by fully advancing major new energy projects: units must keep pushing large wind and solar base projects, orderly advance planned major hydropower and pumped-storage projects, the New Energy Department must maintain monthly monitoring and biweekly dispatch, and dispatched agencies must strengthen on-site supervision.

TREE NEWS reports: Seres reported September new energy vehicle sales of 29,271 units, down 34.48% year on year, with production at 28,387 units, down 37.55%. For the year to date, output totaled 258,000 units, down 16.78%, and sales reached 256,500 units, down 15.79%.

TREE NEWS update: BenChuan Intelligent said it expects net profit attributable to shareholders of 96 million to 144 million yuan for the first three quarters of 2026, up 190.24% to 335.36% from 33.08 million yuan a year earlier. Recurring net profit is seen at 94.4 million to 142 million yuan, up 212.27% to 368.41%, on deeper ties with core customers, capacity ramp-up at its Nanjing Lishui base and the first-phase Zhuhai Shuohong line, and a higher revenue share of high-value PCBs.

TREE NEWS reports: Singapore bank shares fell sharply, with DBS and OCBC down more than 4% and UOB dropping 5.2%, after JPMorgan warned that surging long-term bond yields will weigh on Southeast Asian banks’ third-quarter earnings. The declines follow years of gains for Singapore lenders, driven by record profits and the city-state’s rise as a global wealth management hub. At elevated valuations, investors now worry high bond yields could pressure bank dividends.

TREE NEWS reports: Bitcoin’s realized cap rose by nearly $5 billion in the 30 days to Oct. 5, Glassnode data showed, with most of the increase coming from existing holders rather than fresh capital. The reading indicates the rally was driven by revaluation of coins already in circulation as the BTC price advance stalled.

TREE NEWS update: The People’s Bank of China said countries should set medium- and long-term policy plans, make clear commitments and execute them firmly, avoiding back-and-forth “flip-flopping” on policy. In its policy stance on the yuan, the central bank said trying to fix global economic structural problems within one to two years is unrealistic, and abrupt short-term shifts can backfire. It cited the 2025 global tariff war, which triggered import front-running, worsened imbalances and hurt global growth.

TREE NEWS update: The People’s Bank of China has set out its policy stance on the renminbi exchange rate, saying the currency’s level is a key financial-market price that has long drawn attention from all sides and has been discussed more frequently of late. The central bank’s position was stated in a release clarifying its stance on the yuan.

TREE NEWS update: Bank of England Chief Economist Huw Pill said monetary policy needs to remain firmly focused on inflationary pressures. The remarks signal continued emphasis on price stability at the UK central bank. No further details were provided.

TREE NEWS reports: Bank of England MPC member Greene said she does expect some second-round effects from current inflation in the UK. She flagged preliminary signs that UK wages will grow about 3.5% next year, adding that this concerns her. The remarks point to persistent domestic price pressures as the central bank weighs its policy path.

TREE NEWS update: NatWest is exiting its primary dealer roles for US and European government bonds. The UK bank is withdrawing from the market-making positions that underpin sovereign debt issuance in both regions. No timeline or further details were disclosed.

TREE NEWS update: The United States is set to announce the creation of a Southeast Regional AI Computing Consortium covering 10 states, with several AI companies pledging more than $1 billion in computing capacity to the initiative. The consortium is intended to pool AI compute resources across the southeastern region.

TREE NEWS update: Iraq’s State Oil Marketing Organization (SOMO) set the official selling price for Basrah Medium crude exported to Asia in November at a discount of $2.80 per barrel to the average of Oman/Dubai quotes. The pricing applies to November-loading cargoes bound for Asian buyers.

TREE NEWS reports: Saudi Arabia is in talks to formalize shuttle transport through the Strait of Hormuz. The discussions concern arrangements for moving vessels through the strategic waterway, through which a large share of the world’s seaborne crude oil passes. No further details on the parties involved or timing were immediately available.