Flash News

TREE NEWS reports: JPMorgan analysts said bitcoin’s move above its estimated $85,000 production cost could ease miner selling pressure if the level is sustained. The bank’s estimate puts the world’s largest cryptocurrency above the marginal cost of mining for the first time in the current cycle, a threshold analysts tie to reduced forced selling by miners.

TREE NEWS update: Turkish Finance Minister Mehmet Simsek said claims that he is resigning are rumors and untrue. Simsek dismissed the resignation talk directly, without giving further details. The denial follows speculation about his position at the helm of Turkey’s economic policy.

TREE NEWS reports: Artificial intelligence hedge fund Situational Awareness has become Goldman Sachs’ largest prime brokerage client this year, the bank confirmed. The fund’s rise to the top of Goldman’s prime brokerage book marks a notable shift in the client mix at one of Wall Street’s biggest prime brokers. No figures on assets or balances were disclosed.

TREE NEWS update: Chinese President Xi Jinping attended a welcoming ceremony hosted by US President Donald Trump at the White House on the morning of September 24 local time. In his remarks, Trump said he and Xi have built a deep friendship since Trump first took office in 2016, describing it as founded on mutual respect and the fundamental interests of both peoples.

TREE NEWS update: The US Treasury accepted $4.08 billion in its Treasury buyback operation, drawing $10.468 billion in total bids. The operation’s accepted amount covered roughly 39% of the bids submitted. The Treasury has been running regular buybacks to support market liquidity.

TREE NEWS reports: The US Department of Energy considered supporting a voluntary reduction in diesel exports, Energy Secretary Wright has contacted several large American refining companies on the matter. No decision or formal commitment was disclosed.

TREE NEWS reports: European equities closed lower, with Germany’s DAX 30 falling 0.57% to 25,266.53 and Italy’s FTSE MIB dropping 0.85% to 51,543.45. France’s CAC 40 lost 0.52% to 8,081.43, the UK’s FTSE 100 slipped 0.24% to 10,679.99, and the FTSE Italy All-Share Banks index fell 0.83%. Defense-related ETFs also declined, with the WisdomTree Europe Defence UCITS ETF down 2.07% and the Bloomberg Europe Defense Select index off 1.81%.

TREE NEWS reports: An Israeli official said renewed strikes on Iran are only a matter of time, telling media that Israeli intelligence has detected Iranian attempts to restore and restart its nuclear program in response to possible attacks. The official said Iran has moved remaining nuclear projects to “Pickaxe Mountain” near the Natanz facility, adding that Israel is prepared on both defensive and offensive levels and will strike Iran’s nuclear sites and all related targets if Tehran crosses any red line, with or without US involvement.

TREE NEWS update: Iran’s Islamic Revolutionary Guard Corps said a key strategic achievement has been to erode US freedom of action, citing strikes on the US Navy, US troop casualties in Jordan, and the crippling of naval vessels after devastating counterstrikes. The IRGC also pointed to the vulnerability of drones and other equipment, which it said were destroyed or seized, and to a widened pool of targetable assets, forcing the US toward force dispersion, covert operations and a “minimum footprint” posture.

TREE NEWS update: Chinese President Xi Jinping said at a White House welcoming ceremony hosted by US President Donald Trump on the morning of September 24 local time that while China-US cooperation cannot solve every problem in the world, many of the world’s problems would be hard to solve without cooperation between the two countries. Xi made the remarks in a speech at the ceremony.

TREE NEWS update: Chinese President Xi Jinping left the White House on September 24 local time after the conclusion of talks between the US and Chinese heads of state. President Trump accompanied Xi to his vehicle to see him off. The meeting marked the end of the two leaders’ discussions.

TREE NEWS update: A Singapore court has appointed KPMG as interim judicial manager of iron ore trader Radiant World, after creditor Mizuho Bank withdrew its proposal for rival Deloitte to take the role. Court documents show Radiant’s lawyers opposed Deloitte, citing a conflict of interest because the firm audits London-listed Glencore, which the trader is suing in Singapore for $2 billion.

TREE NEWS reports: The benchmark 30-year US municipal bond yield climbed above 5% for the first time since at least January 2011, rising as much as 8 basis points to 5.03%. The 10-year muni yield added 8 basis points to 3.95% as of 1 p.m. New York time Thursday. Inflation worries and expectations of further Federal Reserve rate hikes have driven munis down 2.8% in September through Wednesday, putting the asset class on track for its worst month since 2023.

TREE NEWS update: Israeli Prime Minister Benjamin Netanyahu said he will continue a series of political meetings before his speech at the United Nations, including sessions with the Greek prime minister and the Slovenian prime minister. No further details on the agenda or timing of the meetings were provided.

TREE NEWS update: Saudi Arabia’s foreign minister called on Israel to consolidate the ceasefire in Gaza. The appeal was made as regional efforts continue to stabilize the truce. No further details were immediately provided.

TREE NEWS reports: The Federal Reserve’s overnight reverse repurchase agreement (RRP) facility took in $630 million on Thursday, September 24, from three counterparties, up from $461 million the previous trading day. The figures track the amount of cash parked at the central bank’s facility by eligible counterparties.

TREE NEWS reports: The US Treasury sold $44 billion of seven-year notes at a high yield of 5.085%, up from 4.512% at the August 27 auction. The bid-to-cover ratio came in at 2.42, compared with 2.50 at the previous sale.

TREE NEWS update: Chinese President Xi Jinping met US President Donald Trump at the White House on the morning of September 24 local time. Xi said building a constructive strategic stability relationship between China and the US is neither an expedient nor an overnight task, and urged departments, sectors and levels of both governments to implement agreed consensus with a nail-driving spirit.

TREE NEWS reports: Washington may fund private stablecoin ventures abroad as part of an effort to protect the dollar’s reserve status and sustain demand for U.S. Treasuries. The plan would extend U.S. monetary influence by backing dollar-pegged issuers operating in foreign markets, though no specific program, budget or timeline was disclosed.

TREE NEWS reports: Germany’s 10-year government bond yield rose 4.4 basis points to 3.599% in European trading Thursday, extending gains after 22:00 Beijing time for a two-day increase of 13.7 basis points, closing in on the 3.749% peak from the second quarter of 2009. The 30-year Bund yield added 2.0 basis points to 3.865%, while the 2-year yield slipped 0.3 basis point to 3.327%. The 2/10-year spread widened 4.773 basis points to +26.947 basis points.