Fed Has Never Hiked In October Ahead Of US Elections: UBS

Hungary To Halt Gas Deliveries To Ukraine Over Its Energy 'Blackmail': Orban Hungary is moving to choke off gas flows to Ukraine, escalating an energy standoff after Kiev halted Russian oil transit via the Druzhba pipeline. Prime Minister Viktor Orban in a fresh social media video address reiterated that Ukraine has blocked the Soviet-era route for a month, and he newly warned: "As long as Ukraine does not provide oil, it will not receive gas from Hungary," according to a translation. via Reuters Orban added that diverted supplies will be stockpiled domestically, filling...

El Nino Heat Wave Fuels HVAC Boom: Goldman Maps The Trade We have already provided readers with plenty of color on El Niño (see here and here), a weather phenomenon that could pressure harvest yields and potentially reignite food inflation later this year. El Niño tends to raise temperatures and intensify weather extremes, worsening drought in some regions while amplifying heavy rainfall in others. Now comes the question of how to profit beyond the agri markets. Goldman analysts led by Brian Singer penned a note for clients titled "Heat Waves...

Ship Traffic Through Hormuz Chokepoint Continues As Normalization Efforts Remain "Fragile" U.S. and Iranian negotiators concluded a lengthy initial round of technical talks, backed by Qatar and Pakistan, with early progress reported. Still, the diplomatic road to a permanent peace deal remains fragile. For now, despite Tehran declaring on Sunday that the Strait was "closed," millions of barrels of crude continue to exit the Persian Gulf through the critical maritime chokepoint.  Bloomberg reports that five laden oil tankers carrying a combined 8 million barrels were seen entering or moving through...