Flash News

TREE NEWS update: US President Donald Trump said Venezuela could become a prosperous 51st US state in the near future, suggesting it would no longer have a president but elect a governor instead. The remark was made in comments on Venezuela, without further details on timing or mechanism.

TREE NEWS update: US President Donald Trump reiterated that oil is flowing through the Strait of Hormuz. The statement reaffirms the status of the key waterway as a transit route for crude shipments, without providing further details on volumes or timing.

TREE NEWS reports: The dollar rose 0.26% against the yen to 157.91 in late New York trading on Tuesday, October 27, within a daily range of 157.42 to 157.96. The euro slipped 0.08% against the yen while the pound gained 0.06%. The yen fell 0.31% against the offshore yuan to 4.2203.

TREE NEWS update: The 8th Summit of the Gas Exporting Countries Forum was held on September 27 at the Moscow International Trade Center, closing the same day with the adoption of the Moscow Declaration. The declaration reaffirms that gas-exporting countries hold absolute and unshakable sovereign rights over their own natural resources.

TREE NEWS reports: CBOT corn futures fell 1.10% to $4.50 a bushel on Tuesday, with wheat down 0.85% at $6.11 a bushel and soybeans down 0.82% at $12.4325 a bushel. Soybean meal dropped 1.62% and soyoil lost 0.57%, while the Bloomberg Grains Subindex fell 1.06% to 30.2220 in late New York trading. Lean hogs slid 3.9%, live cattle eased 0.15% and feeder cattle gained 0.33%.

TREE NEWS update: Ukrainian Foreign Minister Andrii Sybiha said on the 27th that Ukraine is ready to take part in trilateral talks with the United States and Russia in the United Arab Emirates. Sybiha said Kyiv will use every opportunity to advance peace efforts. No date for the talks was given.

TREE NEWS reports: The US and Russia have proposed setting up a joint venture between American and Russian oil majors offshore Sakhalin in Russia’s Far East after the war, people familiar with the matter said. Talks also cover bringing in US oil companies and restarting the Druzhba pipeline to ship Russian crude to Europe.

TREE NEWS reports: The ICE U.S. Dollar Index rose 0.3% to 102.302 in late New York trading on Tuesday, Oct. 27, with an intraday range of 101.986 to 102.331 and sustained gains throughout the session. The Bloomberg Dollar Index gained 0.24% to 1225.23, trading between 1222.04 and 1225.55, also rising steadily since 12:00 Beijing time.

TREE NEWS reports: The onshore yuan closed at 6.6670 per dollar at 03:00 Beijing time, up 25 pips from Monday’s overnight close. Trading volume totaled $44.05 billion.

TREE NEWS update: Boeing has won the design, build and delivery rights for the US Navy’s F/A-XX next-generation fighter, making it sole developer of sixth-generation aircraft for both the Air Force and Navy. The planemaker delivered 161 commercial jets by the end of the third quarter, its highest level since 2018, with the 737-7 and 737-10 certified by the FAA in July and last week. Boeing said 737 output will take until next year to fully stabilize at 47 a month.

TREE NEWS update: US Energy Secretary Chris Wright said New England homes should be heated with natural gas. The remark, made in comments reported on the energy secretary’s position, advocates gas over other heating sources for the region. No policy change or timeline was disclosed.

TREE NEWS update: Russian President Vladimir Putin met Qatar’s Emir Tamim bin Hamad Al Thani in Moscow on October 27 during the Gas Exporting Countries Forum summit, the Kremlin said. Putin said Qatar plays an important role in mediating crises including the Persian Gulf situation, and that Russia-Qatar coordination on the international stage has strengthened. He said the U.S.-Iran memorandum of understanding brokered by Qatar and Pakistan remains valid as a basis for advancing negotiations.

TREE NEWS update: Yemen’s Houthi movement said the Saudi-led coalition carried out 81 airstrikes and missile attacks across Yemen in the 24 hours to the evening of Feb. 27, hitting the capital Sanaa and the provinces of Taiz, Lahij and Hajjah and causing civilian casualties. The Houthis said the total number of coalition strikes since the current escalation began has reached 3,379.

TREE NEWS reports: WTI December crude futures settled $1.86 lower, down 1.83%, at $99.90 a barrel. Brent December crude settled $1.93 lower, down 1.67%, at $113.88 a barrel.

TREE NEWS reports: Shanghai Futures Exchange crude oil futures for the December 2612 contract closed the night session down 2.56% at 712.90 yuan per barrel. In the same session, Shanghai gold futures rose 1.05% and Shanghai silver futures gained 0.93%.

TREE NEWS update: A ceasefire between Russia and Ukraine in Oleshky, Kherson region, took effect early at 4 a.m. Moscow time on the 27th, two days ahead of schedule, Melania Trump said in a social media post. The US first lady said the truce’s scope has been expanded beyond Oleshky to provide a safe corridor for humanitarian aid convoys, and that Russian Chief of General Staff Valery Gerasimov confirmed the development.

TREE NEWS reports: A large Democratic gain in Congress in the US midterms could tighten AI regulation next year, MUFG US macro strategy head George Goncalves said. That would benefit Treasuries by hitting stocks, slowing the economy and reducing AI-related bond issuance. The 10-year Treasury yield fell below 5% last week as bond markets rallied on AI concerns. Goncalves said continued fiscal expansion under a Republican win could be more challenging for bonds.

TREE NEWS reports: DWS Americas fixed income head George Catrambone said the view that political gridlock benefits markets now looks outdated, warning that a dysfunctional Congress or another government shutdown next year would effectively hand the problem to the bond market. With yields already up so much, a repeat would be tricky and he is unsure the economy could withstand it, he said.

TREE NEWS update: Israeli election officials ruled against extending voting hours, keeping polling stations on their original schedule. The decision was announced as voting was underway, with no additional time granted to voters. No further details on the reasoning or the impact on turnout were provided.

TREE NEWS reports: Diamond Hill portfolio manager Henry Song, who oversees $21 billion in assets, said the bond market wants policy action from US authorities after the midterm elections to bring spending and debt under control. Song said two more years of political gridlock may not be good, since debt will keep growing if nothing is done. He said the risk is further rises in interest rates, and buying long-term bonds currently does not offer enough compensation.