Flash News

TREE NEWS reports: The Japanese yen’s sharp appreciation has eroded its reliability as a funding currency, pushing the Swiss franc and Swedish krona forward as popular alternatives for carry trades. Russell Investments and Allianz Global Investors favor the franc, citing widening monetary policy divergence between Switzerland and Japan. JPMorgan strategists recommend the Swedish krona and Canadian dollar as attractive options, as these currencies compete for the yen’s former role.

TREE NEWS reports: A Deloitte survey found that nearly one in ten UK employees have used AI tools their employer prohibits or would oppose, highlighting growing friction between staff and management over the technology. Among 25,000 respondents, 63% said they had used AI tools at work, while the same share feared management might see AI as a replacement for them. The findings suggest workers want to adopt AI but feel employers are restricting it or may cut jobs and pay under the guise of AI adoption.

TREE NEWS update: Russian Deputy Foreign Minister Sergei Ryabkov said on September 16 that Moscow takes all US statements seriously but that Washington’s proposal for an ‘energy ceasefire’ in the Russia-Ukraine war lacks concrete measures, real action and a shift in Ukraine’s position. Ryabkov said Russia will not avoid contact and that engagement with the United States is continuing and will continue, adding that so-called ‘pro-war factions’ are undermining any such arrangements.

TREE NEWS reports: US officials met with representatives of Yemen’s Houthi movement in Oman last weekend, five people familiar with the matter said. The talks mark a direct channel between Washington and the Iran-aligned group. No further details on the agenda or participants were disclosed.

TREE NEWS update: Michael Kremer has been appointed chief economist of the World Bank. The Nobel Prize-winning economist takes the role at the Washington-based development lender, which advises governments on economic policy and global development finance. An official announcement date was not immediately specified.

TREE NEWS update: CATL signed a cooperation agreement with Egyptian battery maker BME, under which the Chinese battery giant will license battery pack technology, supply production equipment and provide training services. The deal builds on an earlier letter of intent for cell procurement and is aimed at helping BME assemble and produce battery packs locally in Egypt.

TREE NEWS reports: WTI crude oil fell 2.0% intraday on the day to trade at $98.49 a barrel. The move marks a pullback in the US benchmark, with the intraday decline measured against the prior session’s level.

TREE NEWS reports: US mortgage application activity fell 4.1% week over week in the week ended September 11. The decline marks a pullback in home-loan demand for the period, with the MBA’s gauge tracking purchase and refinance applications across the US mortgage market.

TREE NEWS update: Seven Chinese banks, including ICBC, Shanghai Pudong Development Bank and Bank of Shanghai, disclosed financial bond issuance plans in September with a combined base size of 74 billion yuan. The batch of deals marks a clear acceleration in bank financial bond issuance as lenders move to replenish medium- and long-term liabilities.

TREE NEWS reports: The China-Kazakhstan (Lianyungang) logistics cooperation base operated 666 China-Europe and China-Central Asia freight trains in the first eight months of the year, carrying 54,600 TEU, up 9.18% year on year. Since starting operations as the first physical project under the Belt and Road Initiative, the base has run more than 8,200 such trains and shipped over 700,000 TEU across six international routes.

TREE NEWS reports: The 10-year US Treasury yield briefly hit 5.014% on September 14, its first touch of that level since 2023, before closing near 4.947%. The 30-year reached 5.38% intraday while the 2-year slipped to 4.628%, a bear-steepening move. The break came on Brent crude above $109 a barrel, core inflation at 3.4%, and CME FedWatch pricing over 90% odds of a September 16 Fed hike.

TREE NEWS reports: Oman crude futures rose to $132.09 a barrel, their highest since March, as traders scrambled for alternative supply after last week’s attacks temporarily shut a key Saudi pipeline. The premium over Brent jumped to nearly $24, also a March high, because Oman loads outside the Strait of Hormuz. Abu Dhabi’s Murban crude, piped outside the Gulf, traded near $124 a barrel.

TREE NEWS update: Kyrgyzstan’s Deputy Prime Minister Akunbekov said on the 15th that China is Kyrgyzstan’s good neighbor, close friend and main trade and investment partner, and that developing cooperation with China is an important priority of the country’s foreign policy. Akunbekov made the remarks in Bishkek.

TREE NEWS update: The London Metal Exchange said its electronic options will launch on March 30, 2027, with a market testing environment opening from October 19, 2026. The exchange set out both dates in its announcement of the rollout schedule. The LME is the world’s main venue for trading industrial metals futures and options.

TREE NEWS reports: Bitcoin dropped about 4% on Tuesday to below $76,000, trading near $75,900 early Wednesday, after the failure of the Clarity Act. Markets are pricing a 92% chance of a Federal Reserve rate hike, with the FOMC announcing at 2 p.m. ET Wednesday.

TREE NEWS update: The Chinese Olympic Committee said reports circulating on online platforms that China’s sports delegation will bring its own testing equipment, food and water to the Aichi-Nagoya Asian Games are untrue. The delegation strictly follows international sporting practice, and all logistical arrangements comply with the host’s policies, the committee said ahead of the Games’ opening.

TREE NEWS reports: UK government bonds extended their rally, pushing the 2-year gilt yield down 8 basis points to 4.81%. The move marks a further decline in short-dated UK borrowing costs as gilts strengthened.

TREE NEWS reports: Nomura Holdings said revenue from its global trading and investment banking businesses has grown only “slightly” so far this quarter, marking a slowdown from double-digit growth in the prior two quarters. Wholesale revenue through September 14 was “slightly above” the year-earlier level, the Tokyo-based firm said, with equities “solid,” FX and emerging markets recovering, and rates trading “challenging.”

TREE NEWS reports: Russia is considering extending its ban on most diesel exports by another month, to the end of October, as Ukrainian strikes on refineries tighten supply, people familiar with the matter said. No final decision has been made, and officials will also discuss the risk that a prolonged ban could leave refineries with excess inventories.

TREE NEWS reports: Ethiopia has cut electricity supplied to Bitcoin miners by 77% as declining reservoir inflows strain hydropower capacity, the state-owned power producer prioritized households and manufacturers. Miners generated 35% of the utility’s revenue last year, making the reduction a significant hit to both the mining sector and the utility’s income.