โ ๏ธ๐ฎ๐ท Iran's oil export revenues are dwindling due to a maritime blockade imposed by the United States, according to the Wall Street Journal. Since mid-July, no Iranian oil tanker has crossed the blockade line, leading to an 85% drop in shipments in August. Iranian oil reserves on tankers outside the Persian Gulf have plummeted from 90 million to 29 million barrels and could be depleted by mid-October. This loss of a key currency source is exacerbating the economic crisis in Tehran.
๐บ๐ธ๐ป๐ช The United States is seeking to expand its access to Venezuela's natural resources, aiming not only for oil but also for gold and mineral reserves. This move comes as the U.S. looks to tap into Venezuela's wealth beyond its petroleum resources, highlighting a strategic interest in the country's diverse mineral assets. For more details, visit RTRS.
๐จ๐บ๐ธ๐จ๐ฆ Former President Trump has banned the import of alcohol, dairy products, and motorcycles from Canada. He has also instructed U.S. agencies to exclude Canadian goods from $50 billion annual government procurement plans.
๐ท๐ธ President Aleksandar Vuฤiฤ announced parliamentary elections in Serbia, set to take place on October 25.
๐จ๐ณ๐ฐ๐ต Xi Jinping has joined Vladimir Putin in a commitment to strengthen relations with the DPRK.
โ ๏ธ Analysts expect a pause in the reduction of the key interest rate by the Central Bank of Russia this Friday, according to a survey by RIA Novosti. The Central Bank is likely to maintain the key rate at 14%, as indicated by the consensus forecast from TASS.
โ ๏ธ๐ท๐บ Severstal anticipates a decline in steel consumption in the Russian market during 2026-2027. Imports from China and Kazakhstan continue to exert pressure on the Russian steel market. The influx of low-quality products has worsened competition in the finished goods segment, according to the company.
๐๐ท๐บ In August, banks issued auto loans totaling 183.7 billion rubles, marking a record since October of last year. This increase was driven by a worsening fuel shortage, leading to higher demand for electric vehicles and diesel cars, as well as expectations of rising recycling fees. โ ะช
โ ๏ธ๐บ๐ธ The "Bond King," Jeff Gundlach of DoubleLine, warns that U.S. bond yields are set to continue rising. He advises investors to steer clear of 30-year bonds globally. Gundlach also points out that the yields on two-year U.S. bonds do not align with the Federal Reserve's rate. He suggests that the Fed's key rate should be increased by 0.50%.
๐จ๐จ๐ณ China's inflation data for August reveals an uptick in consumer prices. The Consumer Price Index (CPI) rose by 0.4% month-on-month, exceeding expectations of 0.3%, while the year-on-year increase was 0.8%, matching forecasts but higher than July's 0.5%. Additionally, the Producer Price Index (PPI) showed a 3.8% year-on-year rise, surpassing the anticipated 3.6% and up from 3.5% previously. Inflation in China accelerated in August.
๐จ Iran is quietly easing currency controls and turning to cryptocurrencies like USDT and BTC to sustain trade amid US sanctions and blockades, according to the Financial Times.
๐จ๐บ๐ธ The U.S. Treasury could increase its buyback volume for 30-year bonds to $10 billion per operation from the current $4 billion, analysts suggest. Today, Bessent is expected to announce updated buyback parameters for government bonds, including 10- and 20-year securities as well. Earlier, Bessent indicated that the buyback of "long bonds" could be raised if necessary, signaling to markets that the Treasury will not back down easily. Experts note the importance of maintaining market stability ahead of the November congressional elections.
๐จ๐บ๐ธ The "internal strength" of the SP500 has plummeted over the past two weeks, with only 42% of stocks in the index trading above their 50-day moving average, marking the lowest level in five months. Historically, weak periods for U.S. stocks begin in August, peaking in mid-September before a traditionally strong fourth quarter, according to BofA. Despite this historical trend, the SP500 remains consolidated at record levels. Recently, Trump reiterated his belief that stocks will rise, with experts also anticipating a "pre-election pump" in U.S. stocks and crypto this year.
๐จ President Miguel Dรญaz-Canel of Cuba has declared that Cuba will no longer be anyone's colony. His statement comes in response to previous assertions by Donald Trump, who had repeatedly claimed that capturing Cuba would be an easy task for the United States.
๐ฐ In 2026, steel consumption in Russia is projected to decline by 4-11% due to a downturn in residential and commercial construction, according to analysts. A moderate recovery in demand of 2-5% is not anticipated before 2027, contingent on a reduction in the key interest rate and the restart of investment cycles. โ ะช