- Solana launches open settlement standard for institutions, with JPMorgan input
- ICYMI: Citi raises bitcoin target to $113,000 and ether to $3,028 as crypto inflows return
- Reports that Hormuz crude flows near 76% of prewar levels. Diesel shortage persists.
- Trump’s red diesel order unlikely to cut most pump prices, says GasBuddy’s De Haan
- S&P 500 defies midterm slump as Bank of America says history favours post-election gains
- Morgan Stanley turns neutral on dollar with bullish skew, stays bearish on yen
- Chalmers warns rising global bond yields will pressure Australia’s federal budget
- Nvidia nears $6 trillion as bonds flash warnings: Deutsche Bank says the gap cannot last
- Trump signs order opening tax-free red-dyed diesel to all buyers as fuel costs bite
- Australian consumer sentiment slumps after RBA hike as Westpac tips another in November
- AI chips explained: why Nvidia, Broadcom and Intel react so differently to the same news
- Nvidia hits record high near $6 trillion, yet still trails the chip sector’s 2026 rally
- A year after its $126,000 peak, bitcoin trades like a rates bet, not an inflation hedge
- Aramco CEO warns rebuilding thin global oil inventories could take two years after Hormuz
- Why a few words from Elon Musk can (and did!) move a $600 billion+ chipmaker
- New York Fed reviews major banks’ private credit exposure after JPMorgan loan markdowns
- Case for central banks to keep buying gold remains strong, ECB/Bundesbank Nagel says
- NZ business confidence jumps to a net 40% in September quarter despite oil price headwinds
- Deutsche Bank warns bonds and equities are pricing different worlds as euro spreads widen
- investingLive Americas FX news wrap 5 Oct: Nasdaq close at record as the dollar firms/yields higher
- The Nasdaq composite and NASDAQ 100 leads US stocks higher
- BoJ’s Ueda in focus as markets weigh a back-to-back October rate hike
Summary:
- Aramco’s CEO says rebuilding global oil inventories could take two years after Hormuz reopens, with less than 10% of stocks practically available.
- Hormuz crude flows are back to about 76% of prewar levels, but refined products are only about 11% of cargoes, keeping diesel scarce (WSJ, Kpler).
- Trump signed an order allowing red-dyed diesel on roads tax-free, but GasBuddy’s De Haan says most drivers will see little benefit.
- Deutsche Bank warns bonds and equities are pricing different worlds, and Chalmers says rising yields will pressure Australia’s budget.
- Nvidia hit record highs near $6 trillion on Monday, while Intel fell after Musk confirmed TSMC talks on Terafab. Equites here in the timezone took thier lead from a strogner Wall Street.
- The New York Fed has been reviewing major banks’ private credit exposure, Semafor reports.
- Australian consumer sentiment fell 4.7% to 80.4 after the RBA hike, while New Zealand business confidence jumped.
Energy supply and rising borrowing costs dominated the news flow on Tuesday, as warnings over thin oil inventories and multi-decade-high bond yields contrasted with record highs in US technology stocks.
Saudi Aramco chief executive Amin Nasser warned that rebuilding global oil inventories could take up to two years even after the Strait of Hormuz fully reopens, describing stockpiles as dangerously thin and estimating that less than 10% of world inventories are practically available. Kpler data cited by the Wall Street Journal showed crude flows through Hormuz recovering to about 76% of prewar levels, but refined products made up only about 11% of cargoes, as damaged Gulf refineries keep diesel in short supply. In the US, President Donald Trump signed an order allowing tax-exempt red-dyed diesel on public roads, though GasBuddy’s Patrick De Haan said state laws, a possibly deferred tax and the lack of new supply mean most drivers will see little benefit. Oil prices barely moved.
Bond markets remained under pressure. Deutsche Bank warned that bonds and equities are pricing very different outcomes, with US 10-year yields recently at their highest since 2007 and the French-German spread posting its largest weekly rise since 1990, while equities sit near records with little sign of stress. The bank said either the stress eases quickly or risk assets must reprice for weaker growth. Australian Treasurer Jim Chalmers said rising global yields will push up the cost of refinancing government debt and put upward pressure on the federal budget, which he will update before year-end. Majopt FX traded quietly.
Equity strength on Omday US time was led by Nvidia, which hit fresh record highs and moved within reach of a $6 trillion market value, helped by a $150 billion buyback expansion and a Morgan Stanley upgrade. Intel shares fell after Elon Musk confirmed TSMC is in talks to join Terafab, the Texas chip project where Intel had been the only named manufacturing partner. Equites here took some lead from the rise on Wall Street but were ultimately mixed: Nikkei eked out a 0.3% gain; South Korea softened 0.8%; Hong Kong’s Hang Seng rose 0.8%.
In financial regulation, the New York Fed has been reviewing major banks’ exposure to private credit firms, examining JPMorgan, Wells Fargo, Barclays and Morgan Stanley on risk management and collateral quality, Semafor reported.
Regional data pointed to pressure on households. Australia’s Westpac-Melbourne Institute consumer sentiment index fell 4.7% to 80.4 in October, with responses collected after the RBA’s latest rate hike dropping to levels last seen in the early 1990s recession. Westpac still expects another RBA hike in November. In New Zealand, the NZIER business survey showed a net 40% of firms expecting better conditions, up from 14%, though firms’ own trading activity remained flat.
In central banks and currencies, Bank of Japan Governor Kazuo Ueda’s speech at the National Securities Convention is in focus for signals on an October rate hike, after Deputy Governor Shinichi Uchida described artificial intelligence as a positive demand shock adding to price pressures. Ueda’s speech is coming up at 2.35pm Tokyo time / 0635 GMT / 0235 US Eastern time.
This article was written by Eamonn Sheridan at investinglive.com.