Flash News

TREE NEWS reports: The Federal Reserve’s overnight reverse repurchase agreement (RRP) facility took in $700 million on Tuesday, September 15, from just two counterparties, down from $1.42 billion the previous trading day. The drop marks a continued decline in usage of the Fed’s overnight liquidity-draining tool.

TREE NEWS update: German Chancellor Friedrich Merz has cancelled his planned trip to New York next week and will remain in Berlin. No reason was given for the cancellation. The decision comes as Merz was scheduled to travel to the United States.

TREE NEWS update: A spokesman for the Atomic Energy Organization of Iran told an International Atomic Energy Agency meeting that Iran will not yield and that its nuclear program is peaceful in nature. The spokesman said Iran is one of the earliest members of the Nuclear Non-Proliferation Treaty and has consistently abided by its obligations, and asked why IAEA inspectors have submitted no report showing Iranian violations despite repeated and sustained inspections of its nuclear facilities.

TREE NEWS update: The US Treasury auctioned $13 billion of 20-year bonds at a record-high stop-out yield of 5.420%, surpassing the previous peak of 5.245% set in October 2023. The bid-to-cover ratio came in at 2.57. The auction marks the highest yield ever recorded for the 20-year maturity.

TREE NEWS reports: International copper closed up 0.38% in the night session, with Shanghai copper up 0.25%, Shanghai aluminum up 0.46% and Shanghai zinc up 0.19%. Shanghai lead slipped 0.22%, Shanghai nickel dropped 2.47% and Shanghai tin eased 0.02%. Alumina fell 0.22%, aluminum alloy lost 0.06%, and stainless steel declined 1.55%.

TREE NEWS reports: London Metal Exchange copper closed $82 higher at $14,084 per tonne. Aluminium rose $7 to $3,252/t, zinc gained $30 to $3,824/t and tin added $87 to $51,966/t. Lead slipped $8 to $1,874/t, nickel dropped $357 to $15,977/t and cobalt fell $525 to $40,675/t.

TREE NEWS reports: DoubleLine Capital’s Jeffrey Sherman said the Federal Reserve needs to raise interest rates to convince traders it is committed to bringing down inflation, after the 10-year US Treasury yield pushed above 5% this week. The asset manager’s deputy chief investment officer told Bloomberg Television that Fed Chair Kevin Warsh could help “tomorrow” by hiking. “The market is already pricing in a rate hike — they either act or shut up,” Sherman said.

TREE NEWS reports: Brent crude oil rose 3.0% intraday to $108.87 a barrel. The move marks a sharp single-session gain for the global benchmark. No further details were immediately available.

TREE NEWS update: Chile’s National Geology and Mining Service (Sernageomin) said Tuesday that a fatal accident occurred at the Zulema I-Daniela II mining site in Taltal, in the northern Antofagasta region. In a post on X, the regulator said a regional investigation team is travelling to the site to investigate, but did not provide further details of the incident.

TREE NEWS update: Iranian Foreign Minister Abbas Araqchi said claims that Iran has no defensive capability are fabricated, asserting that hundreds of US military facilities were destroyed and dozens of military aircraft burned. He said this is only the tip of the iceberg and that Iran will disclose the full truth at an appropriate time, warning that those who fabricate lies about Iran will face an unpleasant outcome.

TREE NEWS reports: Senior military commanders from the United States, Israel and several Arab states met in Germany last week to discuss operations against Iran and broader regional tensions, two Israeli officials said. The closed-door meeting was organized by Gen. Brad Cooper, head of US Central Command, and was also attended by the military chiefs of staff of Saudi Arabia, the UAE, Bahrain, Kuwait, Qatar, Jordan and Egypt.

TREE NEWS reports: Germany’s 10-year Bund yield rose 2 basis points to 3.538% on Tuesday, its highest level since 2009, while the 30-year yield climbed 3.4 basis points to 3.892%. The 2-year yield slipped 0.6 basis points to 3.257%, widening the 2s/10s spread to +27.646 basis points. French, Italian, Spanish and Greek 10-year yields also rose, with Italy and Greece each up 3.4 basis points.

TREE NEWS update: Radiant World Group has filed a lawsuit against Glencore seeking $2 billion in damages, an executive said. The claim was disclosed by a company official, without further detail on the legal grounds or where the case was filed. Glencore has not publicly responded to the suit.

TREE NEWS reports: The Bank of France said it expects the French economy to grow 0.4% in 2026. The central bank’s projection covers full-year gross domestic product growth for the euro area’s second-largest economy. No further details on the forecast’s assumptions or prior estimates were provided.

TREE NEWS update: US Treasury Secretary Scott Bessent said gasoline prices are lower than they were during former President Joe Biden’s term. The remark was made without additional figures or policy details. Bessent’s comment comes as the administration points to fuel costs as a measure of economic conditions.

TREE NEWS update: Bank of England Governor Andrew Bailey said he wants responsibility for combating fraud to be entrusted to London’s Metropolitan Police. The remark, reported on the central bank governor’s position, concerns how UK fraud enforcement should be handled. Bailey did not provide further details on the proposal or any timeline.

TREE NEWS reports: LVMH lost its title as France’s most valuable company and dropped out of Europe’s top 10 listed firms on Tuesday, with shares falling 2.6% and market capitalization shrinking to €201 billion ($232 billion), slipping below L’Oréal. It is the luxury group’s first exit from the European top 10 since 2017. ASML Holding, Roche and HSBC now hold the top three spots.

TREE NEWS reports: Bitcoin fell to $75,600, its lowest level since September, as global bond yields hit multidecade highs and pressured risk assets. The decline came amid market nerves ahead of the US Senate’s CLARITY Act vote. Surging bond yields weighed broadly on risk markets as traders awaited the crypto regulatory vote.

TREE NEWS update: US Treasury Secretary Scott Bessent said the United States does not set an equilibrium price for Treasury yields, adding that he believes officials have the necessary tools. The remark addresses how the Treasury views its role in the government bond market, where yields are set by buyers and sellers rather than by an administered level.

TREE NEWS reports: The UK 10-year gilt yield rose 1.6 basis points to 5.384% in late European trading on Tuesday, September 15. The two-year yield slipped 0.2bp to 4.888%, while the 30-year gained 3bp and the 50-year added 2.2bp. The 2s/10s spread widened 1.915bp to +49.470bp.