Flash News

TREE NEWS update: The Aluminum Association, the main US aluminum industry trade group, is urging Canada and Mexico to impose the same tariffs as the United States on aluminum imports from outside North America. CEO Chuck Johnson said the group wants Ottawa and Mexico City to apply identical rates at their own borders to ensure fair trade within North America. Asked whether the association wants the US 50% tariff lowered, Johnson said the group takes no position.

TREE NEWS update: Yemen’s Houthi movement said on the 30th it will target Saudi Arabia’s military command network inside areas controlled by Yemeni government forces. Houthi spokesman Yahya Saree said in a social media statement that the group has intelligence on Saudi “combat management and frontline military command,” including command and support units and frontline bases in Aden and the provinces of Shabwa, Marib, Mahra and Hadramawt, and on the Socotra archipelago.

TREE NEWS update: China and Switzerland will each further lower tariff levels on nearly 300 tariff lines under their upgraded free trade agreement, China’s Ministry of Commerce said. The two sides reached high-level tariff reduction outcomes in goods market access, building on the original FTA. Under the latest arrangement, zero-tariff products will ultimately cover more than 99% of bilateral trade value.

TREE NEWS reports: Deutsche Bank’s global head of FX strategy George Saravelos said in a Friday client note that the dollar’s traditional safe-haven status can no longer be taken for granted if the AI-driven market rally reverses. Risks to the dollar are “much more two-sided than markets have priced over the past few weeks,” he wrote, pointing to recent simultaneous weakness in tech stocks and the dollar. “The ‘AI dollar’ has arrived,” the report said.

TREE NEWS reports: LPG closed up about 4.4% in the night session, leading gains among Chinese commodities. Styrene rose about 4.1%, PTA gained about 3.1% and low-sulfur fuel oil climbed more than 1.5%. Iron ore slipped 0.2%.

TREE NEWS update: China and Switzerland recorded $89 billion in bilateral trade in the first nine months of the year, up 127% year on year, China’s Ministry of Commerce said. The ministry said the signing of an upgraded protocol to the China-Switzerland free trade agreement will unlock greater potential for bilateral trade and investment and bring more innovation opportunities and development dividends to businesses and people in both countries.

TREE NEWS update: Russian Deputy Prime Minister Alexander Novak said attacks on refineries could lead to a slight decline in diesel exports, Interfax reported. Novak did not specify the volume or timing of any expected drop in shipments. Russia is a major global diesel exporter, and refinery disruptions can affect its export flows.

TREE NEWS reports: The Nasdaq 100 trimmed its decline to 2.6% on the day, while the S&P 500 was down 1.3%, the Dow Jones Industrial Average fell 0.5% and the Nasdaq Composite dropped 2.1%. The semiconductor index was the worst performer, sliding 6.1%.

TREE NEWS update: The U.S. Treasury said Series I savings bonds will earn a 5.51% rate through April 30, 2027, up from the 4.26% yield available to buyers before October 31. The new rate combines an inflation-linked component with a 1.40% fixed rate, the highest fixed portion since 2006 and above the 0.90% announced in April. Existing holders will see rates adjust based on their purchase dates.

TREE NEWS update: US President Donald Trump said on the 30th that the conflict with Iran will end “very soon,” reiterating that Iran cannot possess nuclear weapons. In a radio interview with a Kansas City, Missouri station, Trump said: “We’re going to have a denuclearized Iran. Iran cannot have nuclear weapons, and they will never have nuclear weapons. It will all end very soon.” He also said gasoline, diesel and other commodity prices would fall as a result.

TREE NEWS update: The United Arab Emirates said no new leak has been detected on the tanker Gem No.2, state news agency WAM reported. The statement follows earlier reports of a leak on the vessel. No further details on the ship’s condition or location were provided.

TREE NEWS update: R&F Properties said it remains in communication with holders of its 20 R&F PPN001 privately placed note and is working to raise funds to repay the debt. The developer said it is focusing on day-to-day operations and using market-based methods to resolve its difficulties, responding to holder demands and seeking a disposal plan acceptable to noteholders as soon as possible. It will keep disclosing progress as required.

TREE NEWS reports: New York gold fell 3.0% on the day to $3,909.48 per ounce, while New York silver dropped 6.0% to $49.21 per ounce. The moves mark sharp intraday declines in both precious metals. No further details were provided.

TREE NEWS reports: Intel’s five-year credit default swaps widened to 123.5 basis points, a record high, Markit Data showed. The move puts the contracts on track for their largest single-day swing since October 2022, signaling rising credit risk priced into the chipmaker’s debt.

TREE NEWS update: Zhang Qingwei, vice chairman of the Standing Committee of China’s National People’s Congress, met in Beijing with Bodo Ramelow, vice president of the German Bundestag, who accompanied German President Frank-Walter Steinmeier on his visit to China. The two sides exchanged views on advancing China-Germany relations and strengthening exchanges between the two countries’ legislative bodies, among other issues of mutual interest.

TREE NEWS update: France is tightening security across multiple cities and imposing nighttime curfews ahead of a new round of nationwide protests on October 31, local authorities said on October 30. Some cities have ordered curfews to prevent a repeat of violent incidents. The measures come as the country braces for the demonstrations.

TREE NEWS update: Leapmotor officially launched its A10 (B03X) model in Thailand at a Bangkok event. The Chinese automaker plans to bring an upgraded Leapmotor C10 to the Thai market within 2026 and to keep introducing new global models as demand requires. It also aims to complete 30 sales and service outlets in Thailand by the end of 2026.

TREE NEWS reports: Gold jewelry sales at Shuibei market in Shenzhen nearly doubled month-on-month as falling bullion prices drew buyers, a store manager said. One retailer reported sales up 30% to 40% from last month, driven by heavier gold bangles and wedding purchases. Zodiac charms for the Year of the Sheep now account for 50% of sales, surpassing Horse-themed items.

TREE NEWS update: Russian presidential spokesman Dmitry Peskov said on October 30 that Moscow opposes any ceasefire arrangement that would give Ukraine a chance to regroup, and that preparations for talks do not imply commitments to limit military operations. Peskov was responding to questions about Ukraine’s strike on a refinery in Russia’s Samara region and the status of negotiations planned for November, which he said remain under preparation.

TREE NEWS reports: The secured overnight financing rate (SOFR) stood at 3.94% on October 29, unchanged from the prior day. The effective federal funds rate also held steady at 3.88% for the same trading day. Both benchmark rates were flat day over day.