U.S. HOUSING STARTS SLUMP, MISSING EXPECTATIONS

U.S. housing starts fell 5.2% in September to an annualized 1.221 million units, well below the 1.305 million expected.

Single-family starts declined 4.6%, while multifamily construction dropped 6.7%.

Building permits slipped 0.2% to 1.400 million, slightly beating expectations of 1.395 million.

The key takeaway: Housing construction is weakening faster than expected, signaling continued pressure on the U.S. residential market.
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FRANCE'S DEBT HEADACHE COULD SEND THE EURO BELOW $1.10

Raiffeisen Research warns that France's worsening fiscal outlook could push EUR/USD below $1.10.

The euro trades near $1.1218, after hitting a 17-month low of $1.1112 last week.

The key takeaway: France's fiscal troubles are becoming a growing risk for the euro.
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BESSENT: THERE'S VERY LITTLE A DEMOCRATIC CONGRESS COULD DO TO STOP AGENDA -2WAY TV
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U.S. AND IRAN REPORTEDLY BACK NEW DIPLOMATIC PROPOSAL

Qatar and Pakistan have reportedly presented a compromise proposal with preliminary U.S. and Iranian approval, according to informed sources.

The plan reportedly includes confidential IAEA inspections of Iranian nuclear sites and a partial concession involving $6 billion in Iranian funds frozen in Qatar.

Source: Al-Araby Al-Jadeed, citing informed sources — October 20, 2026
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BESSENT: PEOPLE ARE COMING IN TO BOND MARKET AT A PRICE -2WAY TV
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BESSENT: I DON'T SEE A SPILLOVER FROM FRANCE PROTESTS -2WAY TV
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FRENCH PM LECORNU: POLICE DEPLOYMENT FOR DEMONSTRATIONS IN FRANCE NEXT SATURDAY WILL BE 'MASSIVE'
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BESSENT: NOT SEEKING ANOTHER JOB, HERE FOR DURATION
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$MSFT - US JUDGE DISMISSES CIVIL SEXUAL ABUSE LAWSUIT AGAINST OPENAI CEO SAM ALTMAN FILED BY HIS SISTER
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CHINA'S COMMERCE MINISTRY, ON US ORDER ON DEEPSEEK: CHINA FIRMLY OPPOSES THIS
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$AMZN - AMAZON GOES BIG ON HOLIDAY HIRING AS U.S. RETAIL PULLS BACK

Amazon plans to hire over 300,000 seasonal workers, up 20% from last year, even as broader U.S. holiday hiring is projected to hit its lowest level since 2008.

Seasonal wages will average $20/hour, while Amazon has committed $1.5 billion to workforce pay increases.
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CHINA'S COMMERCE MINISTRY, ON US ORDER ON DEEPSEEK: US ACTION DISREGARDS CONSENSUS REACHED BETWEEN CHINESE, U.S. HEADS OF STATE
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🇫🇷 FRENCH INTERIOR MINISTER NUNEZ: FRANCE WILL DEPLOY SOME MILITARY FORCES TO REINFORCE POLICE FOR SATURDAY DEMONSTRATIONS
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GOLDMAN SACHS: U.S. GDP HOLDS STRONG DESPITE HOUSING SLUMP

U.S. housing starts plunged 5.2% in September to 1.221 million, missing expectations. Single-family starts fell 4.6%, multifamily starts dropped 6.7%, and building permits slipped 0.2%.

Despite the weakness, Goldman Sachs maintained its Q3 GDP growth estimate at 3.3% annualized.
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$CRWV - COREWEAVE SHARES FALL TO LOWEST SINCE MAY 2025, LAST DOWN 5.8%
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US ENERGY UNDER SECRETARY HAUSTVEIT SAYS DIESEL PRICES ARE HIGHER THAN ANYONE WANTS RIGHT NOW, WORKING WITH REFINERS TO SEEK WAYS TO PRODUCE MORE
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ARGENTINA'S COUNTRY RISK SURPASSES 700 BP, HIGHEST SINCE OCTOBER 2025- TRADERS
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U.S. PENDING HOME SALES PLUNGE 7.3% IN SEPTEMBER

U.S. pending home sales fell 7.3% month-over-month in September, reversing August's modest 0.3% gain.

The index dropped to 66.0, with sales down 11.3% year-over-year.

All four regions weakened, led by the West (-9.2%) and South (-8.2%).
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COREWEAVE BONDS TUMBLE AS CREDIT PRESSURE BUILDS

CoreWeave ($CRWV ) dollar-denominated bonds are selling off sharply:

October 2031 bonds: Down 2.3 cents to 79.46 cents on the dollar
June 2030 bonds: Down 2.2 cents to 83.10 cents on the dollar
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ANTHROPIC IN TALKS WITH NEOCLOUD NSCALE OVER SECOND MULTIBILLION-DOLLAR DEAL - CNBC
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