US-Iran mediation efforts to continue, though US sources suggest the chance of a deal is limited; USD gains - Newsquawk US Market Open

  • US Envoy Witkoff said mediators will continue their work, and he hopes talks will be constructive and promising.
  • However, US sources told Al Hadath that the chance of a deal is limited and major disputes and obstacles remain.
  • US equity futures give back earlier gains as focus turns to the Trump-Xi meeting.
  • DXY bids higher despite lower energy prices; EUR little moved following broadly stronger PMI metrics.
  • Fixed income benchmarks trade rangebound, as energy lacks a clear

Korea’s Semiconductor Breakout Has An Expiration Date

Retail sold KRW 18tn. Foreign semiconductor ownership is more than 2 standard deviations below normal. KOSPI is back above 7,000. The next buyer could drive the breakout. The problem? The corporate bid may be gone by mid-October.

The State Of Democracy

After eight consecutive years of declining scores, the 2025 EIU Democracy Index showed a stabilization of democracy around the world...

Crude benchmarks edge lower as hopes of US-Iran diplomacy rise; European equities set to open slightly firmer - Newsquawk EU Market Open

  • US President Trump said he thinks a settlement will be reached with Iran, and noted that some US-Iran communication has taken place even today and that the relationship with Iran is developing.
  • US President Trump said envoys Witkoff and Kushner met with Iran mediators and that there were lots of good thoughts. Trump later commented that he thinks Iran will do something good.
  • Trump also warned that they may have to blow up Pickaxe Mountain and that they will attack if they see activity.

China's DJI Alone Dwarfs Entire US Drone Production

"The only conceivable path back to parity with China in weapons production requires the development of a globally competitive American civilian electronics industry that we can turn over to war production if the need arises." 


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