Morning Edition · Monday, October 19, 2026
Markets
Trump waives Graham Act sanctions on Russian energy, and Brent falls toward $108
Secretary of State Marco Rubio says the president will take up to 60 days to weigh what the sanctions cost the world economy, a review that runs past the November 3 midterm elections.
Macro
China's economy grew 4.5% in the third quarter as exports surged and retail sales barely rose
September exports jumped 36.3% from a year earlier, led by a 136% rise in integrated-circuit shipments, while property investment fell 20.6% in the first nine months.
Markets
Gold trades near $4,180 and silver near $58 after Warsh lowers expectations of an October Fed hike
Futures-implied odds of a hike at the October 28 meeting fell to about 16% after the Fed chair's remarks, and bitcoin rose 1.3% to about $82,500, moving with Nasdaq futures rather than with gold and silver.
Geopolitics
Putin proposes a summit with Trump and Xi in Shenzhen to negotiate an end to the Ukraine war
The Kremlin confirms that talks on a meeting on the sidelines of next month's Asia-Pacific Economic Cooperation summit are under way, Ukraine is not invited, and a senior US official says Trump has not agreed.
Geopolitics
Iran says its seven-day plan to reopen the Strait of Hormuz is still on the table
Foreign Minister Abbas Araghchi ties a reopening on day six to Washington lifting its naval blockade and oil sanctions, while Israeli analysts say inflation near 90% leads Tehran to wait for elections in Israel and the United States.
Macro
Takaichi declines to rule out new government bonds to pay for Japan's food tax cut
The prime minister told the upper house budget committee she aims to strengthen confidence in the yen, after earlier pledging no special deficit bonds and after the 30-year yield rose above 4.2% this month.
Geopolitics
Ukraine hits a St. Petersburg oil terminal in a raid Russia says involved more than 1,000 drones
Fires broke out at the city's oil terminal, the Ruchi depot, an Ozon logistics hub and a VK data center, while a Russian ballistic missile killed one person in Kyiv and Zelensky said Patriot interceptors that have already been paid for are delayed.
Markets
Bank of England examines whether Barclays traders understated private-credit risk to cut capital charges
The Prudential Regulation Authority is acting on an insider complaint that derivatives Barclays used to finance private-credit loans carried more risk than the bank reported, the Financial Times says.
World
Lula and Flávio Bolsonaro trade attacks in their first run-off debate a week before a near-tied vote
Quaest, Datafolha and CNT/MDA polls show the senator ahead by one to two points, Vox Brasil puts Lula ahead 51 to 49, and Folha reports that investors are already trimming Latin American election trades.
World
France counts 2,397 arrests and 997 injured officers after cost-of-living protests turn violent
Macron ordered a review and blamed ultra-left groups, Trump and Vance blamed immigration, and the Kremlin rejected suggestions of Russian involvement, with euro-zone inflation at 3.8%.
Markets
Record tanker rates force oil sellers to cut prices as freight adds about $33 a barrel
In Pakistan, gas traders facing a price surge after a border closure ask the government to switch to daily pricing and stop pegging rates to Saudi Aramco's contract price.
Tech
The United States used about 48,000 tons of rare-earth magnets last year and made 300 of them
China supplies more than 90% of the world's magnets, a Pentagon rule requires defense contractors to source them outside China from January 2027, and China's September chip exports rose 136%.