Chinese automakers are likely to ramp up European production to bypass the quota, Oxford Economics says. Higher local costs may erode some of their price advantage, but the competitive threat to European carmakers is unlikely to disappear.

• US President Trump said the war with Iran will end very soon and that oil prices will fall once the conflict concludes, while Saudi Arabia conducted further strikes against Houthi targets in Yemen.
• The BoJ is reportedly leaning back against back-to-back hikes in October but could hawkishly adjust inflation language, according to Bloomberg.
• US equity futures mixed, with the NQ underperforming as chip names continue to slip.
• DXY pushed lower by higher yields; JPY outperforms following BoJ sources.

Nigel Farage has a new answer to Britain's asylum backlog: abolish the asylum system...

Surrender is the word, and then they wonder why their streets look like they do or why so-called "students" are burning Paris...

Declares from Warsaw alliance is "ready to fight tonight" as European population "a bit nervous"...

French authorities recorded 90 crypto-related cases involving kidnapping, extortion, threats and violent theft in seven months. What makes France such a hotspot?

A government that can't keep its own labor minister is unlikely to sell voters on working longer.

"There is only one real solution: they have to go back..."

• US President Trump said the war with Iran will end very soon and that oil prices will fall once the conflict concludes, while Saudi Arabia conducted further strikes against Houthi targets in Yemen.
• US President Trump said Zelensky and Putin have to get together and end the war, while he thinks they support the energy ceasefire.
• APAC stocks mostly declined amid a tech-led sell-off following weakness in US chip and memory stocks; US equity futures were pressured, while European futures point to a lower open.

The Democratic Socialists of America exploit young people's longing for community, but socialism's coercive collectivism destroys the voluntary relationships that sustain it.

Only four of more than two dozen high-end properties recently offered at auction have sold as buyers hold out for lower prices...

At least 10 very large crude carriers and several Suezmax vessels approaching the port of Fujairah in the United Arab Emirates have stopped or reversed course in recent days, according to tanker-tracking data compiled by Bloomberg. 

"The extreme lack of SPY volume is unusual..."

One engineer, one coding model, and a few weeks of work are starting to look like a direct challenge to some of the software industry's most durable subscription businesses.

Hedge funds sold tech at the fastest pace in seven weeks, EWZ printed $8 billion in a day, munis ate a fifth of ETF volume, and VIX calls cost more than SPX puts...

...'fear of benchmark underperformance'