◆ Daily Global-Macro Brief LIVE
TODAY IN 30 SECONDS
  1. Qatar PM warns of 'earthquake' fallout from US-Israel war on Iran, calls for regional sovereignty respect
  2. Putin's potential for NATO provocation rises amid Ukraine struggles
  3. Turkey Seeks to Calm Markets After $18.3 Billion Fund Liquidations
  4. Former WTO Head Pascal Lamy Discusses EU's China Trade Policy Choices and Economic Growth
  5. Fed's Kashkari: Inflation Still Too High Across All Aspects of US Economy

Markets 37

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  • Turkish Finance Minister Mehmet Simsek is reassuring markets following a fund crisis.
  • Investment fund liquidations totaling $18.3 billion sparked a market selloff earlier this week.
  • Simsek stated the liquidations pose "no widespread systemic risk" to the financial system.
  • Regulatory changes are expected to prevent contagion risk to Borsa Istanbul.
  • Authorities will closely monitor the market to ensure stability.
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  • Jefferies remains bullish on the S&P 500 index.
  • The firm forecasts the S&P 500 to reach a target of 9,000.
  • This projection is set for the end of 2027.

Macro/Economy 47

  • Former WTO Director-General Pascal Lamy suggests the EU must either rebalance trade with China or adopt protectionist measures.
  • Lamy highlights ongoing trade tensions between Europe and China.
  • He also addresses Europe's challenges regarding growth potential and the need for a stronger World Trade Organization.

Central Banks 1

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  • Minneapolis Fed President Kashkari stated inflation remains too high across all sectors, not just oil prices.
  • Kashkari noted robust growth, a resilient US economy despite global conflicts, and signs of improving productivity.
  • The labor market remains strong, reinforcing the Fed's ability to stay patient on inflation.
  • Fed communication under Kashkari continues to lean hawkish, with resilient growth and a strong labor market supporting a tighter policy bias.
  • The US Dollar Index (DXY) traded higher following Kashkari's comments, reflecting the hawkish tone.

Energy/Oil 5

Crypto 7

Geopolitics 26

  • Qatar PM Sheikh Mohammed describes economic fallout from US-Israel war on Iran as an 'earthquake' with global shockwaves.
  • He urged states to respect sovereignty to ensure Middle East security and prevent 'cycles of escalation'.
  • The conflict is disrupting energy supplies, shipping routes, and challenging assumptions about security and stability.
  • Qatar plans over $38bn in domestic infrastructure investments over five years to attract private investors and demonstrate resilience.
  • Qatar is actively mediating efforts to restart talks between Tehran and Washington to end the conflict.
  • Russia's struggles in Ukraine are narrowing its options and depleting domestic resources.
  • CIA Director John Ratcliffe warned that Russian President Vladimir Putin could intensify provocations against NATO.
  • Despite resumed negotiations, Putin is believed to maintain ambitions to dominate Ukraine, indicating a more dangerous trend.
  • Eighteen suspects in the 2021 assassination of Haitian President Jovenel Moise have been extradited to Florida for trial.
  • Moise, 53, was shot dead on July 7, 2021, at his private home.
  • The assassination involved a group of approximately 20 military-trained Colombian mercenaries.
  • The FBI affirmed its commitment to bringing all participants in the plot to justice.
  • France will summon Iran's ambassador and take "appropriate measures" following the closure of a French-language centre in Tehran.
  • Iran accused the French Language Centre (CLF) of conducting "illegal acts that violated diplomatic conventions" and abusing its status.
  • The Iranian judiciary claimed the centre sought to "identify and build networks among the country’s elite figures while facilitating their departure."
  • The incident is described as a "new attack against France’s cultural presence" and follows an assault on French embassy staff in July.
  • Relations between Tehran and Paris have been strained, with Iran detaining two French diplomats in August.

Tech/AI 12

  • Nippon Life Insurance plans to invest 2 trillion yen ($12.7 billion) in infrastructure financing.
  • The investment will primarily target the construction of data centers in the United States.
  • Japanese financial institutions are stepping in to address a growing AI funding gap.
  • Rising costs for semiconductors, servers, and other hardware have made data center financing more challenging.

Companies 4

  • Australian radiopharmaceutical company Telix Pharmaceuticals will acquire Germany's ITM Isotope Technologies.
  • The acquisition is valued at $1.65 billion.
  • ITM Isotope Technologies is a global leader in the production of medical radioisotopes.
  • The deal aims to strengthen Telix's position in the radiopharmaceutical market.
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  • Toyota Motor will start producing extended-range electric vehicles (EVs) in China, beginning in the spring.
  • The move is aimed at broadening Toyota's product lineup and securing a larger share in the world's biggest EV market.
  • Toyota considers long-distance EV models a crucial pillar of its overall electrification strategy.
  • Specialised Therapeutics has expanded its existing partnership with Incyte.
  • The expanded agreement now includes Australia.
  • This likely involves the distribution or collaboration on Incyte's products within the Australian market.
  • Japanese supermarket operator Saeki Selva Holdings plans to enter the Vietnamese market.
  • The company is conducting training for workers in both Japan and Vietnam.
  • Training covers all aspects from basic operations to full store management, aiming to fast-track Vietnamese employees into management positions.

Thai Markets 12

Other 3

  • Sentosa resort aims to double its visitor numbers under a two-decade expansion plan.
  • The project will introduce "game-changing attractions" to draw tourists from the region and beyond.
  • The expansion will be implemented progressively over the next two decades.
  • Sentosa currently features beaches, a casino, and a Universal Studios theme park.
  • An unnamed man was shot once in the torso by a US Immigration and Customs Enforcement (ICE) officer in Austin, Texas, and is in serious but stable condition.
  • Austin Police were not involved in the operation or shooting, which occurred after a traffic stop.
  • Austin Mayor Kirk Watson and Representative Greg Casar called for the city's police department to be involved in the investigation to ensure transparency and third-party oversight.
  • The incident sparked protests at the scene, with demonstrators expressing concerns about public safety and ICE's presence.
  • The shooting comes amidst a surge in ICE enforcement across the US, with over 50,000 arrests per month in July and August.
  • US President Donald Trump is scheduled to meet New York City Mayor Zohran Mamdani.
  • The meeting will take place on Monday at Gracie Mansion, the official mayoral residence.
  • The discussion will focus on issues affecting New York City and its residents.
  • The meeting coincides with President Trump's visit to the city for the UN General Assembly.