U.S. 30-YEAR TREASURY AUCTION HIGH YIELD HIGHEST SINCE AUGUST 2000
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*NVIDIA-BACKED FIRMUS SET TO POSTPONE AUSTRALIA IPO
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Donald Trump To Deliver Remarks At Science And Tech Summit Shortly
https://t.co/VI9Zp9CQLP
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https://t.co/VI9Zp9CQLP
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*HASSETT: REFINERIES ARE 'TURNING BACK ON', RELIEF COMING SOON
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📊FED HIKE FEARS FADE AHEAD OF OCTOBER DECISION
Kalshi traders now see an 84% chance the Fed holds rates steady on October 28, against just 16% for a 25-basis-point hike.
https://t.co/qUEGIdb1ac
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Kalshi traders now see an 84% chance the Fed holds rates steady on October 28, against just 16% for a 25-basis-point hike.
https://t.co/qUEGIdb1ac
(@WalterBloomberg)
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FED'S MUSALEM SIGNALS MORE RATE HIKES MAY BE NEEDED
Fed's Alberto Musalem says inflation remains elevated, driven by persistent demand pressures and supply shocks.
He warns that further monetary tightening will be required to bring inflation back to the Fed's 2% target, with current conditions warranting consideration of rate increases.
Musalem says the U.S. economy remains strong, while business contacts are more concerned about inflation than the labor market.
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Fed's Alberto Musalem says inflation remains elevated, driven by persistent demand pressures and supply shocks.
He warns that further monetary tightening will be required to bring inflation back to the Fed's 2% target, with current conditions warranting consideration of rate increases.
Musalem says the U.S. economy remains strong, while business contacts are more concerned about inflation than the labor market.
(@WalterBloomberg)
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SAUDIA PLANE HEAVILY DAMAGED AT RIYADH AIRPORT, SOURCES SAY
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U.S. BUDGET DEFICIT NEARS $2 TRILLION, HIGHEST SINCE 2021
The U.S. federal deficit surged 12% to nearly $2 trillion in fiscal 2026, according to the Congressional Budget Office.
Government spending reached $7.4 trillion, while revenue totaled just $5.4 trillion.
The deficit is expected to exceed 6% of GDP, with publicly held debt surpassing 100% of GDP.
Rising Treasury yields threaten to push borrowing costs even higher, adding pressure to an already strained fiscal outlook.
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The U.S. federal deficit surged 12% to nearly $2 trillion in fiscal 2026, according to the Congressional Budget Office.
Government spending reached $7.4 trillion, while revenue totaled just $5.4 trillion.
The deficit is expected to exceed 6% of GDP, with publicly held debt surpassing 100% of GDP.
Rising Treasury yields threaten to push borrowing costs even higher, adding pressure to an already strained fiscal outlook.
(@WalterBloomberg)
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CITRINI SEES NEW ERA FOR CRYPTO AS AI AGENTS DRIVE BLOCKCHAIN ADOPTION
Citrini Research says AI-powered financial agents could transform crypto investing, creating a new era of blockchain-based financial infrastructure.
The firm highlights Coinbase ($COIN ), Robinhood ($HOOD ), Circle ($CRCL ), Ethereum and Solana as potential beneficiaries.
Citrini argues that 24/7 trading, tokenized assets and programmable settlement could accelerate institutional blockchain adoption.
Several crypto tokens surged following the report, with Derive's DRV briefly jumping more than 20%.
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Citrini Research says AI-powered financial agents could transform crypto investing, creating a new era of blockchain-based financial infrastructure.
The firm highlights Coinbase ($COIN ), Robinhood ($HOOD ), Circle ($CRCL ), Ethereum and Solana as potential beneficiaries.
Citrini argues that 24/7 trading, tokenized assets and programmable settlement could accelerate institutional blockchain adoption.
Several crypto tokens surged following the report, with Derive's DRV briefly jumping more than 20%.
(@WalterBloomberg)
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🇫🇷 FRENCH DEBT CRISIS COULD POSE GREATER RISKS THAN GREECE, COMMERZBANK WARNS
Commerzbank warns that France's debt problems could pose greater systemic risks to the eurozone than Greece's sovereign debt crisis.
Eurozone public debt now averages 90% of GDP, up from 80% in 2009, while appetite for fiscal reform has weakened.
However, stronger banks, French institutions and ECB intervention tools reduce the risk of contagion.
Commerzbank does not expect a new sovereign debt crisis, but warns the risks are rising.
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Commerzbank warns that France's debt problems could pose greater systemic risks to the eurozone than Greece's sovereign debt crisis.
Eurozone public debt now averages 90% of GDP, up from 80% in 2009, while appetite for fiscal reform has weakened.
However, stronger banks, French institutions and ECB intervention tools reduce the risk of contagion.
Commerzbank does not expect a new sovereign debt crisis, but warns the risks are rising.
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IMF WARNS GLOBAL DEBT COULD HIT 100% OF GDP BY 2028
The IMF says global government debt could reach levels unseen since World War II.
IMF chief Kristalina Georgieva warns advanced economies are the biggest contributors, adding that relying on stronger growth to ease debt burdens is unrealistic.
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The IMF says global government debt could reach levels unseen since World War II.
IMF chief Kristalina Georgieva warns advanced economies are the biggest contributors, adding that relying on stronger growth to ease debt burdens is unrealistic.
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BESSENT HIRES TRUMP'S FORMER FED BOARD PICK, JUDY SHELTON, AS ADVISER - CNBC
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BOFA'S HARTNETT: $8 TRILLION IN CASH WON'T MOVE WITHOUT FED CUTS
Money market funds attracted $166.4B last week, the biggest inflow since April 2020. Hartnett says sustained Fed cuts are needed to unlock sidelined cash: “No rate cuts, no cash cuts.”
🔥 BOFA'S BIGGEST MARKET CALLS:
• Stocks: Risk-off into midterms; potential 10% move either way.
• Tech: Avoid adding exposure; Magnificent Seven to outperform semis.
• Bonds: Start buying 30-year Treasuries on peak-yield potential.
• Small Caps & REITs: Selective buying opportunities.
• Gold & Commodities: Stay long.
• Emerging Markets: Stay long; China tech looks interesting.
• Market Breadth: 50% of global indexes below key moving averages.
BofA Bull & Bear Indicator: 8.1, down from 8.8 — still in sell territory.
(@WalterBloomberg)
Money market funds attracted $166.4B last week, the biggest inflow since April 2020. Hartnett says sustained Fed cuts are needed to unlock sidelined cash: “No rate cuts, no cash cuts.”
🔥 BOFA'S BIGGEST MARKET CALLS:
• Stocks: Risk-off into midterms; potential 10% move either way.
• Tech: Avoid adding exposure; Magnificent Seven to outperform semis.
• Bonds: Start buying 30-year Treasuries on peak-yield potential.
• Small Caps & REITs: Selective buying opportunities.
• Gold & Commodities: Stay long.
• Emerging Markets: Stay long; China tech looks interesting.
• Market Breadth: 50% of global indexes below key moving averages.
BofA Bull & Bear Indicator: 8.1, down from 8.8 — still in sell territory.
(@WalterBloomberg)
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🇺🇸 PRESIDENTIAL SCHEDULE — FRIDAY, OCT. 9
🔸 8:00 AM ET — Executive Time — Closed Press
🔸 11:00 AM ET — Columbus Day Celebration — East Room — Pre-Credentialed Media
🔸 2:00 PM ET — Secretary of Labor Swearing-In — Oval Office — Closed Press
🔸 3:00 PM ET — Policy Meeting — Oval Office — Closed Press
🔸 3:30 PM ET — Policy Meeting — White House — Closed Press
🔥 7:30 PM ET — President Delivers Remarks — The OnCenter, Syracuse, NY — Pre-Credentialed Media
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🔸 8:00 AM ET — Executive Time — Closed Press
🔸 11:00 AM ET — Columbus Day Celebration — East Room — Pre-Credentialed Media
🔸 2:00 PM ET — Secretary of Labor Swearing-In — Oval Office — Closed Press
🔸 3:00 PM ET — Policy Meeting — Oval Office — Closed Press
🔸 3:30 PM ET — Policy Meeting — White House — Closed Press
🔥 7:30 PM ET — President Delivers Remarks — The OnCenter, Syracuse, NY — Pre-Credentialed Media
(@WalterBloomberg)
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GERMANY TO RELEASE UP TO 15 MILLION BARRELS OF EMERGENCY OIL RESERVES
Germany will release up to 15 million barrels of oil and petroleum products, implementing the G7 agreement on energy reserves.
Diesel and heating oil will be released first, followed by crude oil.
Germany's economy minister emphasized that refineries are critical to national energy security.
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Germany will release up to 15 million barrels of oil and petroleum products, implementing the G7 agreement on energy reserves.
Diesel and heating oil will be released first, followed by crude oil.
Germany's economy minister emphasized that refineries are critical to national energy security.
(@WalterBloomberg)
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CANADA LOSES 68,300 JOBS IN SEPTEMBER, FAR WORSE THAN EXPECTED
Canada's economy shed 68,300 jobs in September, sharply missing forecasts for a 9,200 gain.
The unemployment rate rose to 6.5%, while both full-time and part-time employment declined.
The services sector lost 52,300 jobs, with labor force participation falling to 64.8%.
Meanwhile, annual wage growth accelerated to 2.3%, complicating the inflation outlook.
(@WalterBloomberg)
Canada's economy shed 68,300 jobs in September, sharply missing forecasts for a 9,200 gain.
The unemployment rate rose to 6.5%, while both full-time and part-time employment declined.
The services sector lost 52,300 jobs, with labor force participation falling to 64.8%.
Meanwhile, annual wage growth accelerated to 2.3%, complicating the inflation outlook.
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UKRAINIAN DELEGATION ARRIVES IN MIAMI FOR TALKS WITH US TEAM, SOURCE FAMILIAR SAYS
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IRAN CLAIMS LPG TANKER STRUCK NEAR STRAIT OF HORMUZ
Iran's Revolutionary Guard Navy says a large LPG carrier named NV Sunshine was struck while attempting to transit south of the Strait of Hormuz, with reports indicating the vessel caught fire.
The IRGC insists it controls maritime passage through the strait and will prevent what it calls hostile military interference.
The reported attack and vessel damage remain independently unverified.
(@WalterBloomberg)
Iran's Revolutionary Guard Navy says a large LPG carrier named NV Sunshine was struck while attempting to transit south of the Strait of Hormuz, with reports indicating the vessel caught fire.
The IRGC insists it controls maritime passage through the strait and will prevent what it calls hostile military interference.
The reported attack and vessel damage remain independently unverified.
(@WalterBloomberg)
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