Morning Edition · Wednesday, October 7, 2026
Macro
Reserve Bank of India raises its repo rate to 5.50%, its first increase since February 2023
The central bank also shifted its policy stance from "neutral" to "calibrated tightening." The rupee held near 96.4 per dollar after the decision, and traders had largely expected the move.
Markets
Tanker attack off Oman injures 11 Indian sailors as Hormuz strikes rise and Brent holds near $100
Gulf crude exports have climbed back above pre-war levels, but the UK maritime security agency has logged nine attacks in the area this month, half of September's total.
Geopolitics
US-Iran talks stall as Trump keeps the Hormuz blockade in place and Tehran refuses to give up enrichment
Trump says the United States has "total control" of the Strait of Hormuz and rules out extending the interim deal. A senior Iranian official says no extension process exists and accuses Washington of breaking the agreement, as Vice President JD Vance demands a "meaningful reduction" in enrichment.
Macro
Gold steadies near $4,160 after the 30-year Treasury yield touches 5.7%, its highest level since 2002
Gold is still down more than 20% since the US-Iran war began in February. Rising yields and a stronger dollar have outweighed wartime demand for gold as a hedge.
Markets
S&P 500 sets another record as the Magnificent Seven recover, while Goldman Sachs warns of froth
The S&P 500 is up 14% this year as long-term Treasury yields climb. Legacy Paramount bonds fell after a Fitch Ratings downgrade.
Crypto
Cardano gives token issuers power to freeze and seize assets as a second Ethereum layer-2 network shuts within a week
Bitcoin fell about 1.7% to the mid-$80,000s on the same day gold rose, and the European Central Bank kept promoting a digital euro and tokenised money.
Geopolitics
Russia strikes Kyiv with missiles and drones on Putin's 74th birthday, killing at least two people
Russia fired about 70 missiles and Shahed drones at Kyiv and a dozen other regions, killing at least 11 people, with the deadliest strike destroying an apartment building in Pryluky. Russia's state news agency TASS reported that four drones were shot down over Russia's Kaluga region overnight. US Secretary of State Marco Rubio said Ukraine's membership of the North Atlantic Treaty Organization (NATO) is not under consideration.
Geopolitics
Latvia says armed escorts on the Belarusian side threatened its soldiers before a second border breach
On the same day, Belarusian President Alexander Lukashenko praised his alliance with Moscow in a birthday message to Russian President Vladimir Putin, and Russian state media published commentary on threats to attack Kaliningrad.
World
Lula trails Flávio Bolsonaro by about two points heading into Brazil's October 25 runoff
Lula's campaign will target the 21% of voters who abstained, especially those over 70. Senator Flávio Bolsonaro is seeking the support of the Centrão, a bloc of centrist parties, and of São Paulo Governor Tarcísio de Freitas.
Macro
Argentine forecasters say the economy is already in recession and cut their 2026 growth forecast to 1.5%
Analysts in Argentina's central bank survey expect a 1% quarterly contraction in the third quarter and September inflation rising to 1.9%.
Macro
Japan's real wages rise 1.5% in August, an eighth straight gain that keeps another Bank of Japan hike in play
Base salaries grew 3.8%, but government relief that lowers measured inflation accounts for part of the gain. Markets are split on whether the Bank of Japan will move again in October, after its September increase.
World
Sánchez announces 21 emergency housing measures as Spain heads to a snap election on November 29
The eviction of an 87-year-old woman in Madrid set off nationwide protests. Housing, migration and the rise of the right-wing populist Vox party are expected to dominate the campaign.