Flash News

TREE NEWS update: US President Donald Trump will ask the Treasury Department to study methods for lowering diesel prices, and will call on individual states to address fuel costs. The move targets diesel specifically, with states also urged to act on fuel expenses.

TREE NEWS update: Three ships have been attacked in the Strait of Hormuz over recent days, according to multiple notices issued by UK Maritime Trade Operations on the 5th. Two oil tankers and one liquefied petroleum gas carrier were hit by “unknown projectiles” on the 3rd and 4th, and a separate tanker was ordered to turn back by Iran’s Islamic Revolutionary Guard Corps about 11 nautical miles north of Musandam, Oman, or face being targeted. Investigations are ongoing.

TREE NEWS reports: The yield on the US 30-year Treasury note climbed to 5.69%, marking its highest level since 2002. The move extends a sharp rise in long-dated US government bond yields, with the 30-year rate now at a level last seen more than two decades ago.

TREE NEWS reports: UK 10-year gilt yields rose 6.2 basis points to a session high of 5.428% in late European trading on Monday, October 5, edging toward the October 1 peak of 5.504% and the 5.564% level last seen in the third quarter of 2007. Two-year yields added 2.8bp to 4.846%, while 30-year and 50-year yields gained 5.2bp and 5.0bp respectively. The 2s/10s spread widened 2.132bp to +56.956bp.

TREE NEWS reports: Nohshad Shah, head of fixed income sales for EMEA at Citadel Securities, said rising US Treasury real yields could test the AI boom, estimating that about one-third of hyperscaler capex this year is debt-financed. Higher funding costs will make future cash generation more important, he said, while reiterating his bullish view on hyperscalers such as Microsoft and Google because their business models extend beyond selling access to AI models.

TREE NEWS reports: Citadel Securities attributes the recent climb in US Treasury yields to strong economic growth and intensifying competition for capital, not heightened inflation worries. Nohshad Shah, the firm’s head of fixed income sales for EMEA, wrote in a Monday client note that nearly all of the rise in the 10-year Treasury yield in September came from real yields, while inflation expectations stayed relatively stable. Real yields are being supported by fiscal easing, loose financial conditions and heavy investment in artificial intelligence, he said.

TREE NEWS reports: Citi currency strategists are bearish on EUR/USD, citing a more hawkish Federal Reserve policy stance and escalating US-Iran tensions as factors supporting that outlook. The call points to further dollar strength against the euro should those drivers persist.

TREE NEWS update: Renault has appointed Carine Damois as chief financial officer of the Renault Group, effective November 14. Damois takes over the group’s finance function at the French automaker, which has been reshaping its operations and alliance structure. No further details on the appointment or her predecessor were provided.

TREE NEWS reports: The S&P 500 rose 0.5% to set a fresh intraday high. The move marked the index’s strongest level of the session, with the gain reflecting continued buying in US equities.

TREE NEWS reports: In late European trading on Monday, October 5, ICE UK natural gas futures fell 2.73%, while TTF benchmark Dutch natural gas futures dropped 3.96%. ICE EU carbon allowance futures also declined, losing 0.59%.

TREE NEWS update: Ukraine’s air force says AI-equipped turrets have successfully intercepted a new type of Russian jet-powered drone. Air force spokesman Yuriy Ihnat said in a media interview on the 5th that machine vision is being used to shoot down drones and that the AI can even lock onto jet-powered UAVs, adding that such technologies help avoid human error.

TREE NEWS update: Ethiopia’s federal parliament convened on 5 December to form a new government and approved Abiy Ahmed as prime minister, after which he was sworn in before the assembly. Abiy’s Prosperity Party won the parliamentary elections held in June. The vote and oath of office formalize his new term leading the government.

TREE NEWS reports: Renault is set to appoint Carine Damois of Michelin as its chief financial officer, people familiar with the matter said. Damois currently serves at the French tire maker. No effective date or further terms were disclosed.

TREE NEWS update: Russia’s Defense Ministry said Russian forces struck a cargo ship at Ukraine’s Pivdennyi port, Russian state news agency RIA reported. The ministry did not say when the strike took place, what the vessel was carrying, or whether there were casualties. No independent confirmation of the claim was immediately available.

TREE NEWS reports: The MSCI Nordic Countries Index rose 0.2% to 386.70 points. Among the ten sectors, Nordic telecom services posted the biggest gain. Genmab A/S climbed 5.3%, leading gains among Nordic stocks.

TREE NEWS update: Russian President Vladimir Putin has approved UniCredit’s split of its Russian business, clearing the way for the Italian bank to separate its local unit. The approval covers the carve-out of UniCredit’s Russian operations, a step the lender has pursued as it seeks to reduce its exposure in the country. No further terms or timing were disclosed.

TREE NEWS update: Iran’s Supreme National Security Council secretary Mohsen Rezaei said on X that the enemy’s next “wrong action” against Iran will bring “new fronts and bigger surprises.” Rezaei reiterated that every previous miscalculation by the enemy against Iran ended in “crushing defeat.”

TREE NEWS reports: Credit default swap costs on French bank debt have risen above those of other major European lenders as concerns over France’s fiscal and political situation spill into credit markets. Five-year protection on €10 million of senior Societe Generale debt cost €103,000 annually on Monday, about €16,500 more than comparable Deutsche Bank protection, Bloomberg-compiled data show. The two were identical at end-August, while BNP Paribas and Credit Agricole CDS spreads also far exceed those of major UK, German, Swiss and Spanish banks.

TREE NEWS reports: The US Treasury auctioned three-month bills at a high yield of 4.0450% with a bid-to-cover ratio of 2.51, and six-month bills at 4.165% with a bid-to-cover ratio of 2.79. The two auctions set the latest short-term government borrowing rates.

TREE NEWS reports: Germany’s DAX 30 index closed provisionally down 0.01% at 25,229.07. France’s index ended 0.91% lower, while Italy’s index gained 0.44% and its bank index rose 0.69%. The UK index closed up 0.23%.