U.S. PUSHES FOR FASTER SOVEREIGN DEBT RESTRUCTURING AT G20
U.S. Treasury official Browne says the G20 made progress on modernizing the financial system and improving debt restructuring for financially distressed countries.
The U.S. wants Senegal's debt restructuring completed transparently and in less than one year, citing it as an example of progress under the G20 Common Framework.
Officials also discussed expanding the Global Sovereign Debt Roundtable to include more countries.
(@WalterBloomberg)
U.S. Treasury official Browne says the G20 made progress on modernizing the financial system and improving debt restructuring for financially distressed countries.
The U.S. wants Senegal's debt restructuring completed transparently and in less than one year, citing it as an example of progress under the G20 Common Framework.
Officials also discussed expanding the Global Sovereign Debt Roundtable to include more countries.
(@WalterBloomberg)
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UBS NOW EXPECTS THIRD FED RATE HIKE IN MARCH 2027
UBS has revised its Fed outlook after September inflation came in hotter than expected, with headline CPI reaching 3.7% YoY.
The bank now expects three rate hikes in total: September and December 2026, followed by March 2027, before the Fed pauses until late 2027.
UBS says inflation pressures are spreading beyond energy into goods and services.
Markets are pricing in nearly five hikes, suggesting investors expect even more aggressive tightening.
(@WalterBloomberg)
UBS has revised its Fed outlook after September inflation came in hotter than expected, with headline CPI reaching 3.7% YoY.
The bank now expects three rate hikes in total: September and December 2026, followed by March 2027, before the Fed pauses until late 2027.
UBS says inflation pressures are spreading beyond energy into goods and services.
Markets are pricing in nearly five hikes, suggesting investors expect even more aggressive tightening.
(@WalterBloomberg)
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YARDENI CUTS S&P 500 TARGET TO 7,900 AS MARKET RISKS RISE
Yardeni Research lowered its year-end S&P 500 target to 7,900 from 8,400, warning that investor caution could push stock valuations lower.
The firm remains bullish on earnings, forecasting $425 per share in 2027, and expects no recession through 2029.
However, AI investment concerns, persistent inflation and Fed rate hike expectations continue to pressure stocks.
Yardeni's message: Buying opportunities are increasing, but investors should remain cautious.
(@WalterBloomberg)
Yardeni Research lowered its year-end S&P 500 target to 7,900 from 8,400, warning that investor caution could push stock valuations lower.
The firm remains bullish on earnings, forecasting $425 per share in 2027, and expects no recession through 2029.
However, AI investment concerns, persistent inflation and Fed rate hike expectations continue to pressure stocks.
Yardeni's message: Buying opportunities are increasing, but investors should remain cautious.
(@WalterBloomberg)
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U.S. ECONOMIC DATA DUE IN 10 MINUTES
8:30 AM ET | 2:30 PM Paris Time
Four major U.S. economic reports are about to be released:
🔸 September PPI: +0.6% expected
🔸 Core PPI: +0.3% expected
🔸 September Retail Sales: +0.4% expected
🔸 Retail Sales Ex-Autos: +0.5% expected
🔸 Weekly Jobless Claims: 200K expected
Markets will be watching closely for signs of persistent inflation, consumer strength and labor market weakness.
(@WalterBloomberg)
8:30 AM ET | 2:30 PM Paris Time
Four major U.S. economic reports are about to be released:
🔸 September PPI: +0.6% expected
🔸 Core PPI: +0.3% expected
🔸 September Retail Sales: +0.4% expected
🔸 Retail Sales Ex-Autos: +0.5% expected
🔸 Weekly Jobless Claims: 200K expected
Markets will be watching closely for signs of persistent inflation, consumer strength and labor market weakness.
(@WalterBloomberg)
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US TELLS IEA NATIONS IT’S UNHAPPY WITH EMERGENCY OIL RELEASE
US HAS SUGGESTED SUPPLEMENTING OIL RELEASE WITH EXTRA 100M BBL
(@WalterBloomberg)
US HAS SUGGESTED SUPPLEMENTING OIL RELEASE WITH EXTRA 100M BBL
(@WalterBloomberg)
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US Jobless Claims +1K To 199K In Oct-10 Wk; Survey 200K
US Oct-3 Week Continuing Claims -4K to 1,710,000
US Oct-3 Week Jobless Claims Revised to 198K
(@WalterBloomberg)
US Oct-3 Week Continuing Claims -4K to 1,710,000
US Oct-3 Week Jobless Claims Revised to 198K
(@WalterBloomberg)
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*US SEPT. PRODUCER PRICES RISE 6.3% Y/Y; EST. +5.4%
*US SEPT. PRODUCER PRICES RISE 1.3% M/M; EST. +0.6%
*US SEPT. RETAIL SALES RISE 0.8% M/M; EST. +0.3%
(@WalterBloomberg)
*US SEPT. PRODUCER PRICES RISE 1.3% M/M; EST. +0.6%
*US SEPT. RETAIL SALES RISE 0.8% M/M; EST. +0.3%
(@WalterBloomberg)
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U.S. ECONOMIC DATA — OCTOBER 15, 2026
INFLATION — SEPTEMBER PPI
🔸 Headline PPI MoM: +1.3% (Est. +0.6%)
🔸 Headline PPI YoY: +6.3% (Est. +5.4%)
🔸 Core PPI MoM: +0.7% (Est. +0.3%)
🔸 Core PPI YoY: +5.0% (Est. +4.4%)
🔸 PPI Ex-Food, Energy & Trade: +0.5% MoM, +5.0% YoY
🔸 Energy Prices: +10.8%
🔸 Food Prices: +1.2%
🔸 Goods Prices: +2.6%
🔸 Services Prices: +0.8%
🔸 Trade Services: +1.4%
CONSUMER SPENDING — SEPTEMBER
🔸 Retail Sales: +0.8% MoM (Est. +0.3%)
🔸 Retail Sales Ex-Autos: +0.9% (Est. +0.5%)
🔸 Retail Sales Ex-Autos & Gas: +0.2%
🔸 Retail Sales Control Group: +0.1%
🔸 August Retail Sales: Revised to +1.1%
🔸 August Ex-Autos: Revised to +1.3%
🔸 August Control Group: +1.2%
LABOR MARKET
🔸 Initial Jobless Claims: 199K (Est. 200K; Prior 198K, revised from 197K)
🔸 Continuing Claims: 1.710M (Prior 1.714M, revised from 1.716M)
MANUFACTURING — OCTOBER
🔸 NY Empire State Index: 25.5 (Prior 7.6)
🔸 NY Prices Paid: 59.5 (Prior 63.1)
🔸 NY New Orders: 23.2 (Prior 2.0)
🔸 NY Employment: 10.3 (Prior 10.6)
🔸 Philadelphia Fed Index: 20.9 (Est. 28.0)
🔸 Philadelphia Prices Paid: 43.2 (Prior 48.6)
THE KEY TAKEAWAY: Producer inflation significantly exceeded expectations, consumer spending remained strong, and jobless claims stayed low — reinforcing concerns that the Fed may need to tighten monetary policy further.
(@WalterBloomberg)
INFLATION — SEPTEMBER PPI
🔸 Headline PPI MoM: +1.3% (Est. +0.6%)
🔸 Headline PPI YoY: +6.3% (Est. +5.4%)
🔸 Core PPI MoM: +0.7% (Est. +0.3%)
🔸 Core PPI YoY: +5.0% (Est. +4.4%)
🔸 PPI Ex-Food, Energy & Trade: +0.5% MoM, +5.0% YoY
🔸 Energy Prices: +10.8%
🔸 Food Prices: +1.2%
🔸 Goods Prices: +2.6%
🔸 Services Prices: +0.8%
🔸 Trade Services: +1.4%
CONSUMER SPENDING — SEPTEMBER
🔸 Retail Sales: +0.8% MoM (Est. +0.3%)
🔸 Retail Sales Ex-Autos: +0.9% (Est. +0.5%)
🔸 Retail Sales Ex-Autos & Gas: +0.2%
🔸 Retail Sales Control Group: +0.1%
🔸 August Retail Sales: Revised to +1.1%
🔸 August Ex-Autos: Revised to +1.3%
🔸 August Control Group: +1.2%
LABOR MARKET
🔸 Initial Jobless Claims: 199K (Est. 200K; Prior 198K, revised from 197K)
🔸 Continuing Claims: 1.710M (Prior 1.714M, revised from 1.716M)
MANUFACTURING — OCTOBER
🔸 NY Empire State Index: 25.5 (Prior 7.6)
🔸 NY Prices Paid: 59.5 (Prior 63.1)
🔸 NY New Orders: 23.2 (Prior 2.0)
🔸 NY Employment: 10.3 (Prior 10.6)
🔸 Philadelphia Fed Index: 20.9 (Est. 28.0)
🔸 Philadelphia Prices Paid: 43.2 (Prior 48.6)
THE KEY TAKEAWAY: Producer inflation significantly exceeded expectations, consumer spending remained strong, and jobless claims stayed low — reinforcing concerns that the Fed may need to tighten monetary policy further.
(@WalterBloomberg)
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IRAN'S ARMY NAVY SAYS A 'VIOLATING' OIL TANKER IS ON FIRE IN THE EASTERN PART OF THE STRAIT OF HORMUZ - STATE MEDIA
(@WalterBloomberg)
(@WalterBloomberg)
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$AAPL - KEYBANC REITERATES SELL-BIASED RATING ON APPLE DESPITE STRONG IPHONE 18 DEMAND
KeyBanc maintains its Underweight rating on Apple with a $250 price target.
September hardware spending surged 44% month-over-month, far above the three-year average of 15%, suggesting strong initial iPhone 18 demand.
However, KeyBanc expects demand to fade as weaker carrier promotions and lower upgrade rates weigh on sales, potentially leading to iPhone production cuts.
The bank's 2027 iPhone and Mac shipment forecasts remain well below Wall Street expectations.
(@WalterBloomberg)
KeyBanc maintains its Underweight rating on Apple with a $250 price target.
September hardware spending surged 44% month-over-month, far above the three-year average of 15%, suggesting strong initial iPhone 18 demand.
However, KeyBanc expects demand to fade as weaker carrier promotions and lower upgrade rates weigh on sales, potentially leading to iPhone production cuts.
The bank's 2027 iPhone and Mac shipment forecasts remain well below Wall Street expectations.
(@WalterBloomberg)
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IRAN REPORTS ANOTHER OIL TANKER ON FIRE NEAR STRAIT OF HORMUZ
Iranian state-linked media report that naval patrols discovered an oil tanker on fire in a restricted area near the eastern Strait of Hormuz.
Iran's Navy claims the tanker had disabled its tracking systems and was attempting to cross a restricted area in the Gulf of Oman without authorization.
Iran also reiterated that its Navy and Revolutionary Guard maintain control over the Strait of Hormuz.
(@WalterBloomberg)
Iranian state-linked media report that naval patrols discovered an oil tanker on fire in a restricted area near the eastern Strait of Hormuz.
Iran's Navy claims the tanker had disabled its tracking systems and was attempting to cross a restricted area in the Gulf of Oman without authorization.
Iran also reiterated that its Navy and Revolutionary Guard maintain control over the Strait of Hormuz.
(@WalterBloomberg)
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FRANCE IS STARTING TO PUT INTO ACTION OPERATIONAL ELEMENTS OF AGREEMENT TO HELP PROTECT SAUDI ARABIAN OIL FACILITIES - FOREIGN MINISTRY SPOKESPERSON
(@WalterBloomberg)
(@WalterBloomberg)
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DAN IVES CALLS AI STOCK SELLOFF A CLEAR BUYING OPPORTUNITY
Dan Ives says the sharp declines in CoreWeave ($CRWV ), IREN ($IREN ) and Nebius ($NBIS ) represent buying opportunities rather than warning signs.
Despite rising borrowing costs, Ives argues AI computing demand remains strong, with chip demand reportedly exceeding available supply by 13 to 1.
He expects 800–1,000 data centers to be built in the coming years.
His key message: Higher interest rates make AI infrastructure more expensive to finance, but do not necessarily weaken demand.
(@WalterBloomberg)
Dan Ives says the sharp declines in CoreWeave ($CRWV ), IREN ($IREN ) and Nebius ($NBIS ) represent buying opportunities rather than warning signs.
Despite rising borrowing costs, Ives argues AI computing demand remains strong, with chip demand reportedly exceeding available supply by 13 to 1.
He expects 800–1,000 data centers to be built in the coming years.
His key message: Higher interest rates make AI infrastructure more expensive to finance, but do not necessarily weaken demand.
(@WalterBloomberg)
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LAGARDE COULD LEAVE ECB EARLY TO LEAD WORLD ECONOMIC FORUM
The World Economic Forum could appoint ECB President Christine Lagarde as its next chair as early as November 2.
If appointed, Lagarde could leave the ECB before her term expires in October 2027, triggering a major leadership reshuffle.
Klaas Knot and Pablo Hernández de Cos are reportedly among the leading candidates to replace her.
No final decision has been made.
Source: Reuters
(@WalterBloomberg)
The World Economic Forum could appoint ECB President Christine Lagarde as its next chair as early as November 2.
If appointed, Lagarde could leave the ECB before her term expires in October 2027, triggering a major leadership reshuffle.
Klaas Knot and Pablo Hernández de Cos are reportedly among the leading candidates to replace her.
No final decision has been made.
Source: Reuters
(@WalterBloomberg)
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HOT INFLATION DATA POINT TO ANOTHER FED RATE HIKE IN DECEMBER
Northlight Asset Management's Chris Zaccarelli expects the Fed to raise interest rates by 25 basis points in December, following another hotter-than-expected inflation report.
He believes the Fed will hold rates at its October meeting, partly because of its proximity to the U.S. midterm elections.
Despite rising rates, Zaccarelli expects stocks to remain resilient, although election-related uncertainty could trigger short-term volatility.
Source: Northlight Asset Management
(@WalterBloomberg)
Northlight Asset Management's Chris Zaccarelli expects the Fed to raise interest rates by 25 basis points in December, following another hotter-than-expected inflation report.
He believes the Fed will hold rates at its October meeting, partly because of its proximity to the U.S. midterm elections.
Despite rising rates, Zaccarelli expects stocks to remain resilient, although election-related uncertainty could trigger short-term volatility.
Source: Northlight Asset Management
(@WalterBloomberg)
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$TSLA - TESLA TO UNVEIL NEW ROADSTER — FLIGHT CAPABILITY REMAINS UNCONFIRMED
Tesla is preparing to unveil its long-awaited next-generation Roadster today at a SpaceX testing facility in Texas.
Elon Musk has hinted that the vehicle could feature flight capabilities using rocket-inspired technology, but Tesla has not confirmed that the Roadster can fly or that a flight demonstration will take place.
The unveiling comes after two consecutive years of declining vehicle sales, as Tesla looks to revive excitement around its automotive business.
Source: Bloomberg
(@WalterBloomberg)
Tesla is preparing to unveil its long-awaited next-generation Roadster today at a SpaceX testing facility in Texas.
Elon Musk has hinted that the vehicle could feature flight capabilities using rocket-inspired technology, but Tesla has not confirmed that the Roadster can fly or that a flight demonstration will take place.
The unveiling comes after two consecutive years of declining vehicle sales, as Tesla looks to revive excitement around its automotive business.
Source: Bloomberg
(@WalterBloomberg)
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SHARES OF US CHIP-RELATED COMPANIES FALL
NVIDIA DOWN 3%
AMD FALLS 5%
INTEL DOWN 5.9%
MARVELL TECHNOLOGY OFF 5.5%
(@WalterBloomberg)
NVIDIA DOWN 3%
AMD FALLS 5%
INTEL DOWN 5.9%
MARVELL TECHNOLOGY OFF 5.5%
(@WalterBloomberg)
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