Flash News

TREE NEWS update: Federal Reserve Governor Michael Barr said US economic momentum appears to be building, pointing to how the data reflect a shifting outlook. Barr also said the Fed’s independence helps it better serve the American public. He said the focus is on how the data reflect the changing outlook and on the balance of risks to the central bank’s congressional mandate.

TREE NEWS reports: Banks led by Citigroup drew about $11.5 billion in investor orders for a roughly $7.5 billion loan backing Paramount Skydance Corp.’s acquisition of Warner Bros. Discovery Inc. More than $10 billion was ordered for the $6.5 billion dollar tranche, while the €1 billion-equivalent portion attracted about €1.35 billion of demand. Lenders are also weighing moving up a deadline originally set for Wednesday, and banks have drawn about $15.6 billion of orders for Paramount’s junk bonds.

TREE NEWS reports: Shanghai base metals closed mixed in the night session, with copper, aluminum, zinc and nickel all slipping while tin edged higher. International copper fell 0.09% and SHFE copper rose 0.11%, while SHFE aluminum dropped 0.46%, zinc 0.36%, nickel 1.28% and lead was flat. SHFE tin gained 0.36%, alumina rose 0.15%, aluminum alloy lost 0.32% and stainless steel fell 0.8%.

TREE NEWS update: Iran’s Supreme National Security Council secretary Rezaei said Iran has already put forward its conditions, but that Trump is unable to make a decision, Iran’s state broadcaster IRIB reported. No further details on the terms or the context of the talks were given.

TREE NEWS update: Yemen’s Houthis said Saudi warplanes flying F-15 and Typhoon fighters from Khamis Mushait and Taif air bases carried out 35 airstrikes over the past 24 hours, hitting communication networks, schools and other civilian infrastructure in Taiz, Al Jawf, Amran, Saada and Hodeidah provinces. The group said the total number of Saudi airstrikes and missile strikes since the conflict escalated has reached 1,158.

TREE NEWS reports: London Metal Exchange copper closed $26 higher at $14,438 per tonne, while nickel dropped $221 to $15,958 per tonne. Tin rose $412 to $54,198, zinc gained $18 to $3,870, aluminium fell $38 to $3,214, lead slipped $4 to $1,898 and cobalt was unchanged at $39,140.

TREE NEWS reports: The euro weakened to 1.1318 against the US dollar, marking its lowest level since May 2025. The move extends the single currency’s decline, with the pair touching a fresh multi-month trough on the day.

TREE NEWS reports: Bank of England Monetary Policy Committee member Taylor said there are substantial upside risks to food inflation. The remark points to persistent price pressure in the food component of the UK inflation basket, a factor the MPC weighs when setting interest rates. Taylor did not give further detail on the outlook or on his vote.

TREE NEWS update: A vessel was struck by a drone in the shipping lane south of Iran’s Hormozgan province, Iranian media reported. No casualty figures, damage assessment or claim of responsibility was given. The waterway sits near the Strait of Hormuz, a chokepoint for global oil and gas shipments.

TREE NEWS update: Federal Reserve Governor Barr said further interest-rate increases may be necessary, adding that he has not seen a clear trend of inflation returning to the 2% target in a timely manner. The remarks point to continued tightening risk from the US central bank.

TREE NEWS update: White House National Economic Council Director Kevin Hassett said the US economy is still absorbing the impact of pandemic-era stimulus spending from the early Biden administration, calling it one of the country’s current problems. In a Tuesday interview, Hassett said pandemic stimulus during Trump’s first term was appropriately sized to fill an economic gap, while the Biden administration expanded spending into other areas. He said inflation was about 1.5% at the end of Trump’s last term before rising notably.

TREE NEWS reports: The United States Oil Fund reported total profit of $85.2 million for August. The figure covers the fund’s overall results for the month, with no further breakdown of performance or holdings provided.

TREE NEWS reports: France’s 10-year government bond yield rose 4.1 basis points to 4.811% in late European trading on Tuesday, touching 4.821% near the close and pressing toward the 4.873% peak of the third quarter of 2008. Italy’s 10-year yield added 2.2 basis points to 4.614%, approaching its June 25 high of 4.849%, while Spain’s 10-year fell 0.1 basis point to 4.145% and Greece’s was roughly flat at 4.145%.

TREE NEWS reports: German government bond yields fell more than 1 basis point across maturities in late European trading on Tuesday, September 29. The 10-year Bund yield dropped 1.7bp to 3.626%, trading between 3.647% and 3.579% intraday, while the 2-year fell 1.3bp to 3.294% and the 30-year shed 1.3bp to 3.952%. The 2/10-year spread narrowed 0.305bp to +32.882bp.

TREE NEWS update: BMW plans to achieve 100% renewable energy for its electric vehicles by 2050, the German automaker said. The target covers the company’s electric mobility operations and represents a long-term commitment to decarbonize its EV fleet. No further details on investment or interim milestones were disclosed.

TREE NEWS reports: Bitcoin failed to make another run at $85,000, with sellers holding the line above current levels, while surging US bond yields weighed on stocks and precious metals. Long-term holder supply kept the $85,000 mark out of reach as the advance stalled.

TREE NEWS reports: The White House has urged the European Union to release its diesel emergency reserves in an effort to bring down global diesel prices. The request targets the EU’s emergency stockpiles as a supply lever amid elevated international diesel costs. No figure for the volume sought has been disclosed.

TREE NEWS reports: Gold fell 3.4% on September 30, a single-day decline described by The Kobeissi Letter as extremely rare over the past two decades. Since 2006, gold’s average daily move has been +0.05% with a standard deviation of 1.19%, putting the drop at a Z-score of -2.90 in the extreme left tail. Analysts attributed the move to surging US Treasury yields hitting precious metals.

TREE NEWS reports: The UK 10-year gilt yield fell 1.2 basis points to 5.410% in late London trading on Tuesday, September 29, staying lower through the session in a W-shaped path. The 2-year yield dropped 1.4bp to 4.913%, having touched 4.855% at 20:33 Beijing time. The 30-year rose 0.7bp and the 50-year gained 2.4bp, while the 2s/10s spread widened 0.262bp to +49.594bp.

TREE NEWS reports: Bitcoin’s weeks-long rally has lost momentum as fresh macroeconomic uncertainty pressures risk assets, after President Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz. Markets are also digesting the Federal Reserve’s rate hike and preparing for another possible increase in October. Bitcoin has gained 28% since August 19 and remains on track for its best quarterly performance since the fourth quarter of 2024.