Flash News

TREE NEWS update: US Energy Secretary Chris Wright said American farmers and truck drivers will soon feel relief from falling diesel costs. Wright made the remark without giving a specific figure or timeline for the expected decline. Diesel prices are a key input cost for agricultural operations and freight hauling.

TREE NEWS update: The U.S. Environmental Protection Agency’s highest-ranking air regulatory official left the agency last week. No reason was given for the departure, and no replacement has been named. The official oversaw the EPA’s air office, which administers the Clean Air Act and related emissions rules.

TREE NEWS update: Houthi political bureau member Al-Bukhaiti said Turkey and Pakistan are unlikely to intervene directly in the Yemen war. The assessment was given as a statement from the Houthi political leadership. No further details or conditions were provided.

TREE NEWS update: Yemen’s Houthi movement said its armed forces repelled several Saudi advances toward the Bab el-Mandeb strait, forcing the attacking forces to withdraw without gaining ground. The group said it fired ten ballistic missiles at the staging areas, causing dozens of casualties and destroying numerous vehicles.

TREE NEWS reports: France’s 10-year government bond yield fell 11.0 basis points to 4.750% on Tuesday, its third consecutive daily decline, touching 4.703% intraday and approaching the September 28 low of 4.702%. The two-year yield dropped 10.7bps to 3.559% and the 30-year fell 9bps to 5.311%. Italian, Spanish and Greek 10-year yields also declined, by 9.9bps, 5.6bps and 9.6bps respectively.

TREE NEWS update: An ECB executive board member said the potential introduction of a digital euro would not “take over the role of banks,” but would ensure they retain a role in the EU’s monetary system. The official warned that without a digital euro, the bloc’s monetary system risks fragmentation.

TREE NEWS update: Hungarian central bank deputy governor Zoltan Kurali said Hungary could adopt the euro as early as 2031 if the government meets the eurozone’s convergence criteria by 2029. Speaking Tuesday at an investment conference titled “Return to Europe,” Kurali said Hungary could enter the ERM-2 exchange-rate mechanism as early as mid-2028, pegging the forint to the euro within a defined band. The baseline scenario remains meeting the criteria in 2030 and adopting the euro in 2032.

TREE NEWS reports: Germany’s 2-year Bund yield rose 4.7 basis points to 3.112% on Tuesday’s European close, while the 10-year yield slipped 1.5 bps to 3.478% after trading between 3.430% and 3.506%. The 30-year yield fell 2.1 bps to 3.845%, and the 2/10-year spread narrowed 5.986 bps to +36.336 bps.

TREE NEWS reports: Maine’s Senate race is being shaped by rising housing costs and record heating bills in the state, with home prices climbing sharply since 2021. Democratic candidate Troy Jackson and Republican incumbent Senator Susan Collins are set to debate as cost of living dominates voter concerns, and recent polling shows the two effectively tied on the issue. The contest is pivotal to the parties’ fight for a Senate majority, with Democrats eyeing a chance to unseat Collins in a state Donald Trump lost three times.

TREE NEWS update: Talks between the United States and Iran are still underway, with Washington and Tehran exchanging messages through Qatari mediation, a Qatari official said. Qatar is serving as the intermediary in the communications between the two sides.

TREE NEWS reports: The US Energy Information Administration said American households that heat with oil could see their heating bills rise 21% this winter. The agency’s forecast points to higher seasonal costs for heating oil users compared with last winter. No further detail on the underlying price or demand assumptions was given.

TREE NEWS update: A worker has died at an iron ore mine operated by Cap in Chile. The company has not yet commented on the incident. No further details on the circumstances of the death were immediately available.

TREE NEWS update: Russian President Vladimir Putin will meet with Turkmenistan’s leadership on Oct 8, with a meeting with Iran’s president also scheduled on the same occasion. The talks were announced without further details on the agenda.

TREE NEWS update: Canadian Prime Minister Mark Carney will visit Turkey from October 21 to 23 and meet Turkish President Recep Tayyip Erdogan. The trip is set for those three days, with the Erdogan meeting as its central item. No further agenda or outcomes were disclosed.

TREE NEWS reports: The US Energy Information Administration raised its 2026 Brent crude forecast to $96 per barrel from $91 in its latest Short-Term Energy Outlook, and lifted 2027 to $84 from $74. The agency also nudged up 2026 US oil output to 13.9 million bpd from 13.8 million, kept 2027 at 14.3 million, and left 2027 LNG exports at 18.6 bcf/d while raising 2026 to 17.6 bcf/d. The next STEO is due November 10.

TREE NEWS reports: Federal Reserve Bank of San Francisco President Mary Daly said she is concerned that AI, tariffs and energy costs could keep inflation elevated for longer. The remarks point to the cost pressures the Fed official sees persisting rather than fading quickly. No specific figures, policy proposal or timeline were given.

TREE NEWS update: Russia struck an oil tanker at the Ukrainian port of Pivdennyi. The report did not specify the extent of damage, casualties, or the vessel’s ownership. Pivdennyi is one of Ukraine’s largest Black Sea port complexes and a key hub for grain and energy exports.

TREE NEWS reports: UK 10-year gilt yields fell 4.2 basis points to 5.376% in late European trading on Tuesday, October 6, staying lower throughout the session. The two-year yield dropped 3.0bp to 4.818%, touching a session low of 4.789% at 15:27 Beijing time before recovering. Thirty-year yields fell 3.9bp and 50-year yields 4.3bp, while the 2s/10s spread narrowed 1.228bp to +55.692bp.

TREE NEWS update: Pakistan successfully test-fired a domestically produced extended-range Fateh-4 ground-launched cruise missile on October 6. The military said the system carries advanced avionics and state-of-the-art navigation aids, enabling high-precision, high-lethality strikes. The test also validated additional technical parameters of subsystems integrated to improve accuracy and survivability.

TREE NEWS reports: Fonterra reported that the Global Dairy Trade auction price index rose 1.2% at the October 6 event. The average FAS auction price for whole milk powder across contract periods stood at $3,928 per tonne. The wholesale milk powder price index gained 1.2% to $3,605 per tonne.