Milton cat 5 / Saudi Hydro / UK & France borrowings / Yardeni not more cuts / China package 'disappoints'

Hurricane Milton continues to barrel towards Florida as a Category 5 Hurricane carrying 180 max sustained winds
UST 10y yields back to 4% >>> markets now on a no-landing scenario, thus incompatible with yields much below 4% particularly will oil prices back up 10pct last week alone, as discussed with many of view recently in private conf calls, the markets will continue to swing around between the hard, soft or even no landing scenario in weeks and months ahead, plenty of scenario possible out of ME war, earnings, macro data, FOMC minutes tomorrow to start with, and of course the U.S election >>> Markets have about 20bps priced in for a cut at next FED meeting (all changed after ISM services and NFP late last week), under 50 for 2024 now (was 75), but it will swing around ! no doubt
China conf call from NDRC disappointed markets, which was almost inevitable after a 30-35% rally...got to give a chance to would be buyers to step in now..
Goldman Sachs is getting more bullish about stocks, raises S&P 500 forecast to 6,000, and 6300 target for 2025
Ed Yardeni sees Fed pausing rate cuts for 2024 after Jobs Report
For the first time on record, the Atlantic has 3 #hurricanes simultaneously after September/thread #madweatherpatterns, Milton is not a Cat 5
Russia has announced plans to add silver to its state reserves alongside gold, platinum, and palladium, a move that should further accelerate silver's emerging bull market
US dominance into perspective: In 2009, the market cap of the US stock market was 30% of the global stock market cap. Today it is almost 50%/Apollo's Slok
Saudi Arabia tees up multibillion-dollar bet on hydrogen. It plans to provide 15% of blue hydrogen production globally, in addition to investing in green hydrogen
Elon Musk says he is ‘Dark MAGA’ at Trump campaign rally
UK borrowing costs climb as chancellor Rachel Reeves walks ‘tightrope’ over spending plans + French PM Barnier promises spending cuts and tax hikes to reduce 'colossal' debt