TREE NEWS reports: The MSCI emerging markets currency index is set for a tenth consecutive weekly gain, the longest streak since 2007, after rising 0.4% on Friday, bringing the week’s advance to 0.7%. Gains were trimmed after strong US jobs data boosted rate-hike bets and the dollar. Investors now await next week’s US inflation data for clues on Fed policy.
TREE NEWS reports: LME copper closed up $82 at $14,416 per tonne. Aluminum fell $18 to $3,294, zinc rose $34 to $3,946, lead gained $4 to $1,908, nickel added $60 to $16,846, tin dropped $86 to $54,866, and cobalt lost $2,070 to $46,430.
TREE NEWS reports: Missiles hit US targets in northern Jordan after loud explosions were heard in the country. The attack reportedly targeted American positions, with details still emerging. No group has claimed responsibility yet.
TREE NEWS update: The US Centers for Disease Control and Prevention reported on September 4 that 3,134 measles cases have been confirmed this year, the highest annual tally in over 35 years. The figure marks a significant resurgence of the disease, which was declared eliminated in 2000.
TREE NEWS reports: Fitch Ratings’ US economic lead Olu Sonola called the August nonfarm payrolls report “unquestionably strong,” reaffirming labor market stability. He flagged next week’s CPI report as the real event risk, saying it is the data point capable of changing the outlook.
TREE NEWS reports: German 2-year bond yields fell 0.9 basis points to 2.949% on Friday, paring the weekly gain to 4.3 basis points. The yield spiked to 2.990% upon the US nonfarm payroll release at 20:30 Beijing time before retreating. The 10-year yield ended at 3.339%, up 6.0 basis points on the week, with the 2/10 curve steepening to +38.792 basis points.
TREE NEWS update: US President Donald Trump, in a post on Truth Social, rejected the notion that economic growth fuels inflation, arguing that stocks fell despite strong jobs data due to lingering inflation fears. He called for the US to sustain the world’s lowest interest rates, claiming each 1% rate hike costs the country $650 billion annually, and advocated for GDP growth of 15-20%.
TREE NEWS update: Federal Reserve Bank of Cleveland President Beth Hammack reiterated that it is time to act on monetary policy, signaling support for rate cuts. Her comments add to growing expectations of an imminent easing cycle.
TREE NEWS update: US President Donald Trump reiterated that the United States should enjoy the lowest interest rates globally, adding that markets should be rising and economic growth will not spur inflation. His comments come amid ongoing Federal Reserve policy deliberations, though no specific policy action was announced.
TREE NEWS update: At the 32nd APEC SME Ministerial Meeting press conference on September 4, MIIT Minister Li Lecheng announced China’s initiative to establish an AI empowerment center for SMEs in Guangzhou and an SME cooperation zone in Shenzhen. The move aims to foster regional collaboration.
TREE NEWS update: Nigel Farage, leader of Britain’s Reform UK party, said he believes a general election will be held in spring 2027. His comments come amid speculation about the timing of the next UK vote.
TREE NEWS reports: Zcash surged to its highest price in nearly a decade, crushing short bets amid a Fed-driven crypto rally. However, the rally reversed hours later after a stronger-than-expected jobs report pushed Bitcoin back below $80,000.
TREE NEWS update: US President Donald Trump plans to sign an executive order related to beef on September 4. The order’s specific provisions were not disclosed in the initial report.
TREE NEWS reports: UK 2-year government bond yield rose 1.2 basis points on Friday, closing at 4.531%, after jumping from around 4.513% to 4.575% on US nonfarm payrolls release. The yield accumulated a weekly gain of 17.3 basis points. Meanwhile, 10-year gilt yield fell slightly to 5.133%, but spiked to 5.184% on the data, ending the week up 10.3 bps.
TREE NEWS update: Volkswagen’s CEO said the company will invest hundreds of billions of euros over the coming years to make its iconic brands more attractive, stronger, and more competitive. The supervisory board’s approval of the 2030 future plan signals a strong commitment to the group’s development.
TREE NEWS update: Ukrainian President Volodymyr Zelensky announced that a special envoy of US President Donald Trump will arrive in Ukraine on Sunday. The visit comes amid ongoing diplomatic efforts to address the conflict. No further details were provided.
TREE NEWS update: The World Meteorological Organization confirmed on September 3 that an El Nino event has emerged and is expected to strengthen into a super El Nino within months. The UN agency said there is a near 100% chance the event will peak by end of 2024 and persist until February 2027. UN Secretary-General Antonio Guterres warned the world has entered a ‘danger zone’ for extreme weather, as climate experts note heightened risks due to global warming.
TREE NEWS reports: European natural gas futures posted strong weekly gains on Friday. ICE UK gas futures settled 1.03% higher at 179.830 pence/therm, up 6.73% for the week. The TTF benchmark Dutch gas futures rose 1.29% to 72.418 euros/MWh, gaining 9.24% on the week after hitting a high of 75.339 euros earlier. EU carbon permits settled 0.47% higher at 83.40 euros/tonne, up 1.45% for the week.
TREE NEWS update: BitMEX co-founder Ben Delo made two further donations totaling £4 million to the UK Reform party, on April 17 and April 30. The donations accounted for 75% of the party’s £5.33 million quarterly haul. Delo’s total donations this year reach £8 million, second only to Tether investor Christopher Harborne. All payments were in cash, not cryptocurrency.
TREE NEWS reports: MSCI Nordic Countries Index was roughly flat at 402.61 points. Among ten sectors, Nordic telecom was the biggest decliner. Biotech firm Novonesis Novozymes B fell 3.1%, the worst performer among Nordic stocks.