Flash News

TREE NEWS reports: PIMCO has reduced its positions in two of the largest AI-related debt deals by about 50%. The bond giant had invested in roughly $18 billion of Meta-related bonds in 2025 and $10 billion of Oracle-related transactions. The cuts were made while the bonds were trading at high prices, as AI debt financing has accumulated to about $500 billion.

TREE NEWS reports: Used smartphone trading has surged in Shenzhen’s Huaqiangbei electronics market, with models priced above 4,000 yuan ($550) now accounting for more than 68% of transactions. Prices for popular models have held firm this year, bucking the usual 20% annual decline, as memory chip price increases push up costs. Near-mint or open-box devices typically sell for 500 to 1,000 yuan less than new handsets and are currently in short supply as merchants actively buy them back.

TREE NEWS update: Russia said it struck a vessel heading to Ukraine’s Chornomorsk port, Interfax reported. No further details on the vessel, the timing of the strike or the damage were given in the report. The Black Sea port is one of Ukraine’s main grain-export hubs.

TREE NEWS reports: Fuel oil futures closed the night session up about 4.8%, leading gains in China’s energy and commodities futures. Bitumen rose 3.9%, low-sulfur fuel oil gained 3.1% and iron ore climbed 1.7% in the same session.

TREE NEWS update: Eli Lilly said its experimental next-generation weight-loss drug retatrutide outperformed Novo Nordisk’s Ozempic in blood sugar control in a diabetes study, with more than double the weight loss. The once-weekly drug, nicknamed ‘triple G’, activates the GLP-1, GIP and glucagon hormone receptors. The data bolster retatrutide’s competitive edge and are widely expected to drive Lilly’s next growth wave after Zepbound and Mounjaro.

TREE NEWS update: Bank of Canada Senior Deputy Governor Rogers said the central bank’s forecast for the housing market is “subdued,” according to a statement released Wednesday. The remark offers a glimpse into how the central bank views housing conditions as it weighs its outlook for the economy.

TREE NEWS update: The Bank of Canada said uncertainty surrounding US trade policy and the Middle East situation could alter its outlook. The central bank flagged both factors as risks that may shift the economic forecast, without specifying further details.

TREE NEWS reports: The U.S. military has estimated the cost of the war with Iran at $47 billion. The estimate puts a price tag on a conflict whose total expense had not previously been disclosed at that level. No breakdown of the spending or the period covered was provided.

TREE NEWS reports: The Brazilian real and Mexican peso fell to fresh session lows as oil prices and US Treasury yields climbed, with investors awaiting the Federal Reserve’s policy statement. The moves came as markets positioned for the Fed’s decision, which could set the tone for emerging-market currencies.

TREE NEWS update: Russian presidential aide Yuri Ushakov said on October 28 that Russia does not plan to invite European parties to negotiations on Ukraine. Ushakov said the date for trilateral talks between Russia, the United States and Ukraine will be announced soon, but did not confirm the talks are set for November 10.

TREE NEWS update: Bank of Canada Governor Tiff Macklem said interest rate increases will limit the effects of rising oil prices. The remark addresses how higher borrowing costs may offset the inflationary pressure from costlier crude.

TREE NEWS update: Bank of Canada Governor Tiff Macklem said expectations for investment may be conservative. The remark, delivered without further detail, touches on the central bank’s view of business investment prospects. No specific figures or policy signals accompanied the comment.

TREE NEWS update: Spanish Transport Minister Óscar Puente said at a press conference on October 28 that a computer communication failure followed by human command error caused the high-speed train collision in Toledo province. The accident occurred on the afternoon of October 28 local time. Puente held the press conference to explain the cause of the crash.

TREE NEWS update: UK data centres serving critical services will receive priority grid connections and permission for on-site generation under new rules aimed at speeding up key infrastructure, Chancellor John Healey said in his budget speech. The access will be conditional on data centre operators investing in local communities, creating local jobs and protecting local water resources.

TREE NEWS reports: US crude oil inventories dropped by 1.89 million barrels in the week ended last week, the Energy Information Administration reported. The drawdown far exceeded Bloomberg users’ estimate of a 994,000-barrel decline and analysts’ forecast of an 81,170-barrel build. The prior week saw a 3.06 million-barrel decrease.

TREE NEWS reports: US gasoline inventories rose by 3.87 million barrels in the week ending October 23, the EIA reported, against expectations for a 310,000-barrel draw and following a 2.952-million-barrel decline the prior week. The build marks a sharp swing from the previous week’s draw and far exceeds forecasts.

TREE NEWS reports: US refinery utilization fell 0.6% in the week ended Oct 23, the EIA reported, against expectations of a flat reading and a prior decline of 0.1%. The larger-than-expected drop in refinery runs points to weaker crude throughput at US plants for the week.

TREE NEWS update: The U.S. Energy Information Administration (EIA) is scheduled to release its weekly government crude oil inventory report at 22:30 Beijing time. The report is a key indicator of U.S. oil supply and demand, closely watched by energy traders and affecting crude prices.

TREE NEWS reports: ING said the Reserve Bank of New Zealand’s dovish posture is creating headwinds for the New Zealand dollar. The bank’s assessment points to pressure on the kiwi as markets read the central bank’s stance as leaning toward easier policy. No specific policy decision, rate level or currency figure was cited in the commentary.

TREE NEWS update: Israel’s military said on 28 August that its aircraft struck and killed three commanders of Hamas’s armed wing in the Gaza Strip in recent days. Two of the three had taken part in the 7 October 2023 attack on Israel, the Israel Defense Forces said in a statement.