Morning Edition · Tuesday, October 20, 2026
Markets
South Korea's KOSPI Falls About 5% as Credit Investors Pay More for Protection Against AI Debt
According to the Economic Times, SK Hynix was on track for its lowest close since April, and data-center operator Elice fell as much as 32 percent on its first trading day, after weekly default-swap trading on major US tech companies rose from under $2 billion in July to more than $9 billion in September.
Markets
Brent Slips From Five-Month High After Trump Waives Russia Sanctions in Exchange for Diesel
Brent fell 2.08 percent to $107.57 a barrel on Monday, and the White House separately announced an $8 billion program to cover diesel costs for American farmers.
Geopolitics
Houthi Missiles Kill at Least 53 Recruits in Yemen as Egypt Delays a Vote on Defending Saudi Arabia
US Defense Secretary Pete Hegseth met Israeli Prime Minister Benjamin Netanyahu at an air base hosting American tankers and fighter jets, as Washington and Israel discuss resuming major combat operations against Iran.
Macro
Japan Turns to Its Pension Fund and Households to Buy About $120 Billion of New Government Bonds
Prime Minister Sanae Takaichi said she would not rule out issuing debt to pay for a food tax cut, while Finance Minister Satsuki Katayama promised fiscal discipline on defense spending.
Markets
Gold Falls Toward $4,140 With the 10-Year Treasury Yield Above 5.1 Percent
Silver edged higher and bitcoin held near $82,000, while rate-futures pricing made a December Federal Reserve rate increase the market's expected outcome.
Geopolitics
Trump Says He Would Meet Putin and Xi to End the Ukraine War, Possibly Without Zelensky
Ukrainian President Volodymyr Zelensky told US senators that Starlink service and US intelligence sharing had been degraded without explanation, leaving Kyiv without advance warning of Russian strikes.
World
France Counts 1,800 Arrests After Cost-of-Living Riots as Fuel-Price Protests Spread Across Italy
The gap between French and German 10-year bond yields stood at 142.3 basis points on Monday, and Italy is sending troops to Milan after two nights of looting, according to Russian state media.
Macro
Lula and Flávio Bolsonaro Enter the Final Week Tied as Debate Turns on 250 Billion Reais in Spending Cuts
Recent polls range from a 51-49 lead for President Luiz Inácio Lula da Silva to a 52-48 lead for Senator Flávio Bolsonaro before Brazil's October 25 runoff.
Geopolitics
Drone Raid on St. Petersburg Damages a Power Substation, a VK Data Center and an Ozon Warehouse
Leningrad region Governor Alexander Drozdenko said air defenses downed 145 drones and that the 330-kilovolt Vostochnaya substation was damaged, leaving the town of Yanino on backup power.
Tech
DeepSeek Helps Design Huawei's Next AI Training Chip as US Homeland Security Orders It Removed From Federal Systems
Hefei-based CIQTEK said it is ready to sell a 0.1-nanometre electron microscope, a market long dominated by American and Japanese suppliers.
Macro
IMF Projects Africa Will Grow Faster Than China as the Iran-War Energy Shock Shifts Growth
The International Monetary Fund raised its 2026 forecast for sub-Saharan Africa to 4.5 percent and projects global growth of 3.1 percent with global inflation of 4.7 percent.
Crypto
Tether Defends Its Iran Record as Hong Kong and Singapore Compete for Regulated Stablecoin Business
The US Commodity Futures Trading Commission (CFTC), meanwhile, rejected CME Group's legal challenge over perpetual futures after approving the first bitcoin perpetual contract in the US.