Flash News

TREE NEWS update: US President Trump said Federal Reserve Chairman Warsh is “great,” but noted that Warsh holds only one vote on the FOMC. Trump also said interest rates should be cut. The remarks underscore the limits of any single policymaker’s influence over the rate-setting committee.

TREE NEWS update: US President Donald Trump said he has brokered ceasefires in eight wars, with one more nearing resolution. The claim was made without specifying which conflicts were involved or providing a timeline for the remaining one.

TREE NEWS update: The UN Security Council held its fifth straw poll on July 7 to choose the next Secretary-General. Greece’s permanent representative, Ambassador Barta, who holds the Council’s rotating presidency this month, said after the vote that the result will be conveyed to each candidate by the country that nominated them.

TREE NEWS update: Zealand Pharma reported positive Phase II ZUPREME-2 topline results for petrelintide in overweight or obese patients with type 2 diabetes. At week 28, the petrelintide arm achieved mean weight loss of up to 9.2% versus 2.0% for placebo, and HbA1c reduction of up to 0.65% versus a 0.23% rise on placebo. Safety and tolerability were consistent with Phase II ZUPREME-1, with gastrointestinal adverse event discontinuation rates of 1.9% versus 1.7% for placebo.

TREE NEWS reports: The Federal Reserve’s overnight reverse repurchase agreement (RRP) facility took in $2.338 billion on Wednesday, October 7, from 15 counterparties. The prior trading day’s usage was $4.14 billion. The drop marks a lower take-up at the central bank’s overnight RRP window.

TREE NEWS reports: The European Union will release further oil and diesel reserves only after the International Energy Agency explicitly confirms that such a move would not harm EU energy security, three diplomats familiar with the matter said. No timeline or volume for a potential additional release was given.

TREE NEWS update: A senior Iranian official said on the 7th that Iran will never concede its right to uranium enrichment, calling US recognition of that right a “red line.” The remarks responded to US Vice President Vance’s statement on the 5th that Iran must “substantially” cut its enrichment capacity to meet US demands and end the conflict. The official said US and Iranian positions diverge, though details of the enrichment issue could be discussed later.

TREE NEWS update: US President Donald Trump on October 6 touted the performance of the US stock market. The president highlighted the market’s gains in a public statement. No specific index levels or figures were given.

TREE NEWS update: Ukraine’s Foreign Ministry spokesman Heorhiy Tykhyi said on October 7 in Kyiv that Ukraine is ready to take part in trilateral peace talks with Russia and the United States, and hopes they can be held in October. He said Kyiv is studying five different ceasefire mechanisms, including a full and unconditional ceasefire, Black Sea ceasefire proposals from Turkey and Egypt, an Indian plan covering the energy sector, and a possible US-brokered energy ceasefire.

TREE NEWS reports: The US Treasury auctioned $39 billion of 10-year notes at a high yield of 5.3%, up from 4.834% on Sept. 9, with a bid-to-cover ratio of 2.77 versus 2.71 previously. After the results were released, the 10-year Treasury yield dropped sharply from around 5.31% to near 5.28%, nearly erasing its earlier gains for the day; it had risen to 5.3624% at 21:27 Beijing time, shortly before the US stock market opened.

TREE NEWS reports: Wall Street strategists are divided on the direction of US Treasury yields through year-end. Goldman Sachs’s William Marshall and colleagues maintain a bullish call, arguing market fears over inflation and swelling government debt may be overdone and could set up a bond rally. Barclays US rates research head Anshul Pradhan takes the opposite view, expecting yields to keep climbing and stay elevated.

TREE NEWS update: Iranian Foreign Minister Abbas Araghchi said Iran is firmly defending itself while also seriously using diplomacy to protect its national interests and security. He said Iran has presented mediators with a detailed and actionable proposal setting out its conditions and considerations.

TREE NEWS reports: A Houthi spokesman said Saudi warplanes carried out 156 airstrikes and missile strikes on civilian areas in Yemen over the past 24 hours, hitting the capital Sanaa and the provinces of Taiz, Saada, Jawf, Marib and Amran. The strikes were flown by F-15 and Typhoon jets from Khamis Mushait and Taif air bases, with missile launches from Najran and Jizan. The spokesman said total Saudi-led strikes since the conflict escalated have reached 1,798.

TREE NEWS reports: London Metal Exchange copper closed $60 higher at $14,476 per tonne. Aluminium fell $16 to $3,117/tonne and zinc slipped $2 to $3,764/tonne, while lead rose $24 to $1,896/tonne, nickel gained $53 to $15,735/tonne and tin added $95 to $54,279/tonne. Cobalt was unchanged at $39,245/tonne.

TREE NEWS reports: France’s 10-year government bond yield rose 12.0 basis points to 4.870% in late European trading on Wednesday, October 7, touching 4.933% at 21:43 Beijing time before paring gains. The two-year yield climbed 6.5bps to 3.624% and the 30-year 10.6bps to 5.417%. Italian, Spanish and Greek 10-year yields also rose, by 9.7bps to 4.624%, 4.8bps to 4.118% and 8.9bps to 4.483% respectively, as dip buyers waited.

TREE NEWS update: France will release 10 million barrels of diesel from its strategic reserves, the government announced. The move puts a specific volume of the country’s emergency fuel stock onto the market. No timeline or further details were given in the announcement.

TREE NEWS update: FTSE Russell has added Oman to its watch list of markets under review for potential reclassification, which could see the country moved back to secondary emerging market status. The index provider’s list flags markets whose classification may change at a future review. No date for a decision was given.

TREE NEWS reports: Iran’s Tasnim news agency, citing Hebrew sources, reported that a large explosion was heard in Haifa. No further details on casualties, damage or the cause of the blast were provided in the report. The incident was reported on the basis of Hebrew-language sources.

TREE NEWS update: Biman Bangladesh Airlines has signed a firm order for 10 of Airbus’s latest-generation aircraft, Airbus said. The deal covers four A350-900 widebody jets and six A321neo single-aisle planes. No value or delivery schedule was disclosed.

TREE NEWS reports: Germany’s 2-year government bond yield fell 4.4 basis points to 3.069% in late European trading on Wednesday, October 7, moving between 3.142% and 3.046% during the session. The 10-year yield slipped 0.3bp to 3.475%, while the 30-year yield rose 0.6bp to 3.851%. The 2/10-year spread widened 3.819bp to +40.155bp.