Bitcoin briefly slid below $80,000 for the first time in almost a month, swept up in a broader retreat from risk assets as an AI-led selloff on Wall Street undercut crypto’s attempt to rebuild a bullish tone.
As old alliances are tested and the global balance of power shifts, this could be an opening for India to expand its influence.
At the Bloomberg #NewEconomyForum, leaders laid out how and the challenges that could stand in its way. Haslinda Amin has more from New Delhi. (Source: Bloomberg)
Winter heating, summer driving, spring planting, autumn harvest: the main seasonal patterns in commodities and why they’re context, not a trading rule.
Fewer shorts, buybacks ending, no inflows and too many longs imply no recovery is imminent, says a JPMorgan strategist.
Malaysia’s central bank governor Abdul Rasheed Ghaffour told Blomoberg’s Avril Hong that the central bank has greater room to adjust interest rates after changing its policy guidance last month and stands ready to act if inflation pressures intensify as the Middle East conflict keeps energy prices elevated. Speaking at the sidelines of the International Monetary Fund and World Bank meetings in Bangkok, the governor said policy decisions will remain data-dependent, with the monetary policy committee assessing the latest information at each meeting. (Source: Bloomberg)
Chancellor of the Exchequer John Healey discusses the International Monetary Fund’s comments that the UK is the “country that basically stands out” for plotting a path to bring down borrowing. Speaking to Bloomberg’s Lisa Abramowicz in Bangkok, Healey also discusses the importance of banks to the British economy, declining to comment on potential tax measures in the government’s Oct. 28 budget. (Source: Bloomberg)
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The semiconductor foundry announced third-quarter net profits of 763.34 Taiwanese new dollars, marking a record.
Christel Rendu De Lint, Co-CEO of Vontobel, on AI, cyber risks and if UBS left Switzerland. ‘I would prefer them to stay. It’s a brand for the Swiss economy, losing a major brand, a major actor, it’s a loss’. She speaks on Bloomberg’s “The Opening Trade” with Anna Edwards, Guy Johnson and Tom Mackenzie. (Source: Bloomberg)
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