Wolf Money(World market review 5-10 Oct 2026)
Market Summary 5-10 Oct 2026
*USA*
-US median inflation expectations for year ahead rose 0.3% to 3.9% in Sept, highest level since May 2023
-Fed most officials see another rate hike by year end: Minutes
-US Oct Index of Consumer Sentiment reading dropped to 5-mth low of 46.3
+ US ISM reported its services PMI at 54.9 in Sept vs 55.4 in Aug; Survey’s prices index up 1.4 pts to 74, highest since Jul 2022
+ US initial jobless claims fell to 197,000 at over 2-mth low, below forecasted 200,000 claims
-US trade deficit soared 13.7% to US$105.6bn MoM in Aug
-US crude inventories fell by 3.186m barrels, biggest drop in 5 weeks
-US 30-year fixed mortgage rate up 19bps to 7.49%, highest since Nov 2023; mortgage applications fell 3.2% to 20-mth low
-US sells US$38.7bn in 10-year notes at 5.3% yield, sells US$21.9bn in 30-year bonds at 5.618 yield
-US Congressional Budget Office estimates US 2026 budget deficit at US$2 trillion
+ Trump strikes deal with Putin for Russia to supply diesel to US
-US Trade Chief said all EU countries agree more action is needed to address excess factory capacity largely centred in Asia
+ AMD plans to substantially increase supply in 2027 after meetings with TSMC and suppliers in Taiwan
*CHINA*
+ China to allow local govt to tap ¥550bn (US$82bn) in unused debt quotas to plug budget gaps and fund infrastructure projects
± PBOC says has no intention of depreciating Yuan to boost exports
+ China agrees to slash EU hybrid car exports in half, putting brake on trade war
+ China’s major oil pipeline starts operations in Eastern part, capable of pumping up to 70,000 tons of crude oil each day
+ China created total of 10.52m new urban jobs in first 9 mths, fulfilling 87.7% of annual target
+ China’s top 100 property developers’ sales rebound in Sept supported by govt policies and strong autumn sales season
+ China 17 listed brokerages have set plans to expand overseas operations
± China’s forex reserves fell to US$3.4 trillion end Sept, down US$38.1bn from Aug
+ China’s gold reserves rise for 23rd straight mth to 77.47m ounces in Sept, up 740,000 ounces from Aug
-China's passenger vehicle retail sales fell 24% YoY in Sept to 1.702m units, NEV sales down12% to 1.141m units
+ China’s Golden Week holiday saw 825m domestic tourists’ trips, up 6.3% YoY, generating 738.4bn in tourism revenue, up 4.3%
+ China’s distillers plan to produce more whisky than is now imported into the country
+ China unveiled first nationwide labour rules to protect gig economy workers
+ Hang Seng Tech Index will expand to 50 constituent stocks from 30 to reduce internet giants, increase exposures to smaller, high growth tech companies
+ Taiwan posted largest trade surplus; exports up 60.9% YoY to record US$87.22bn, imports up 51.7% to record 63.59bn in Sept
*EUROPE*
+ EU-China reached 16-pt consensus on trade and investment, export controls, IP and WTO reform at high level talks in Beijing
+ EU exploring ways to raise taxes on US tech giants without provoking retaliation from Washington
-European major economies real wages projected to fall in Italy, Spain, France and UK between Q1 of 2026 and 2027, except Germany: OECD
+ German raised GDP forecast for 2026 and 2027 to 1.3% and 1.1% respectively, citing lesser impact on Iran war
-Germany’s exports fell 0.8% MoM in Aug, vs 0.6% increase expected on sharp US decline
+ Germany’s industrial output up 2% MoM in Aug, strongest growth in 17 mths
-Germany’s factory orders plunged 10.6% MoM in Aug, first monthly drop since Apr
-Mercedes-Benz reports 8% YoY drop in Q3 car sales as sales in China dropped 31%
+ France ready invoke constitutional power to bypass Parliament to pass planned spending cuts for 2027 budget
-France’s trade deficit at €6.1bn in Aug
-France is thinking about issuing more short-term debt: PM
*ASIA*
-BoJ total assets declined -US$98bn in Q3 to US$3.95bn, lowest since Q1 2020
+ Japan’s leading economic index increased to 118 in Aug, highest level since Jan 2014
± Japan govt approved bill to cut consumption tax on food and non-alcoholic drinks from 8% from 8% to 1% for 2 years
+ Japan’s current ac surplus rose to ¥4,062bn in Aug from ¥3,628.1bn same mth last year
+ Japan’s machine tool orders rose 60.4% YoY to new record of ¥223,209m in Sept, marking 14th consecutive mth of annual growth
-Japan’s household spending expenditures fell 3.1% YoY vs expected 3.6% decline
-Japan’s trade deficit on balance of payments widened to ¥687.7bn in Aug
-Japanese companies operating in China fell to historic low, standing at 10,118 as of Jun, down 22% from previous survey in 2024
+ SoftBank CEO hoping to raise US$100bn from Gulf investors
+ Indonesia new car sales surged 28.1% YoY to 79,450 units in Sept, marking 6th consecutive mth of expansion
+ Indonesia coffee chain Kenangan Coffee considering IPO on SGX: CEO
+ Malaysia’s industrial output rose 5% YoY in Aug, vs 4.7% gain in Jul
+ Malaysia retail sales grew 6.5% YoY in Aug, following 6.4% rise in Jul
+ Sg forex reserves rose to S$553.57bn in Sept, highest level since Feb 2022, mainly driven by higher gold and FX reserves
+ Sg hotel room rates for F1 SG Grand Prix have raced higher, occupancies possibly lag 2025 record
-Sg firms’ payment delays worsen for 3rd straight qtr in Q3, driven by rising slow payments in construction, manufacturing and retail sectors
+ Sg retail sales rose 0.7% in Aug, vs 1.3% growth in Jul
-Sg may be able to import only half of 2035 clean energy target from its neighbours: report
+ Sg investment banking fees hit 5-year high of US$793.8m in first 9 mths, up 9% YoY, highest 9-mth tally since 2021
Contribution by Derek@valueinvestments chat group. Thank you.
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