Mortgage Rates Fall Amid Anticipation of Fed Rate Cut; Trump to Negotiate Trade Deal with Xi Jinping
Key Takeaways
- Trump to meet Xi Jinping in Asia to negotiate trade deal amid domestic issues.
- Mortgage rates fell to 6.19% on October 23, anticipating a Federal Reserve rate cut.
- US CPI rose 0.3% in September, increasing anticipation of further Fed rate cuts.
- NatWest profit surged 30%, beating estimates with £2.18 billion operating profit before tax.
- EquipmentShare's bond prices crashed due to fraud allegations from ex-board member Neil Chheda.
Top Stories
Trump to negotiate trade deal with Xi Jinping in Asia.
On October 24, 2025, President Trump began a six-day Asia tour, including a meeting with China's Xi Jinping to negotiate a trade deal amid domestic challenges.
Mortgage rates fall to 6.19% anticipating Fed rate cut.
On October 23, 2025, mortgage rates decreased to 6.19%, the lowest since October 2024, as markets expect a Federal Reserve rate cut.
US CPI rises 0.3%, Fed rate cut expected amid uncertainties.
On October 24, 2025, the US CPI rose 0.3% in September, below expectations, leading to anticipation of further Fed rate cuts amid economic uncertainties.
NatWest profit surges 30%, beats estimates with decade-high earnings.
On October 24, 2025, NatWest Group Plc reported a 30% year-over-year increase in operating profit before tax, reaching £2.18 billion.
EquipmentShare bond prices crash amid fraud allegations by ex-board member.
On October 24, 2025, EquipmentShare's bond prices plummeted due to fraud allegations by former board member Neil Chheda.
Financial Analysis
Economist: 10-year Treasury yield could reach 6% due to inflation.
On October 24, 2025, economist Steven Blitz suggested the 10-year Treasury yield could hit 6% due to inflation driven by increased lending and federal deficits.
Market Insights
UK chocolate bars shrink as cocoa prices surge 15%.
On October 23, 2025, Temper Temper Chocolate in the UK reduced chocolate bar sizes due to a 15% increase in cocoa prices driven by poor West African harvests.
Russian stock market volatile after key rate cut to 16.5%.
On October 24, 2025, the Russian stock market initially rose after the central bank cut the key rate to 16.5%, but later lost most of its gains.
Australian dollar strength boosts New Zealand tourism, economy.
As of October 24, 2025, New Zealand's economy is benefiting from increased Australian tourism due to the strong Australian dollar.
UK releases trade in services data for April-June 2025.
On October 24, 2025, the UK's Office for National Statistics released data on UK trade in services by partner country for April to June 2025.
US economy accelerates despite shutdown, tariffs hurt exports.
In October 2025, the US economy showed signs of acceleration, with the S&P services index reaching 55.2, but high tariffs negatively affected exports.
GM cuts jobs, Ford shares jump amid tariff and EV concerns.
On October 24, 2025, General Motors cut jobs despite profit guidance, while Ford's shares rose; both face cost issues including tariffs and are reassessing EV investments.
European economic data releases and policy announcements expected.
On October 24, 2025, various European countries are expected to release economic data, including retail sales in the UK and unemployment data in Spain.
Deckers (Hoka, UGG) cuts outlook, citing $150M tariff impact.
On October 23, 2025, Deckers Brands lowered its financial projections due to tariffs expected to cost $150 million this fiscal year.
Saab raises outlook, boosted by global arms race; Ukraine deal looms.
On October 24, 2025, Swedish arms maker Saab raised its annual forecast, with operating profit up 16% to 1.37 billion Krona, amid a global arms boom.
Policy Watch
China outlines key goals for 'Fifteenth Five-Year Plan'.
On October 24, 2025, China announced the main goals for the 'Fifteenth Five-Year Plan,' including high-quality development and technological self-reliance.
UK MPs advise against cutting cash ISA tax-free allowance.
In October 2025, UK MPs advised Chancellor Rachel Reeves against cutting the cash ISA tax-free allowance in the upcoming budget, arguing it would harm savers.
US inflation data delayed due to government shutdown.
On October 24, 2025, the White House announced that the October inflation data will likely be delayed due to the ongoing government shutdown.
Ontario pauses anti-tariff ad after Trump ends trade talks.
On October 24, 2025, Ontario paused airing an anti-tariff ad featuring Ronald Reagan after President Trump terminated U.S.-Canada trade negotiations.
Paraguay's central bank holds interest rate steady at 6%.
On October 24, 2025, the Central Bank of Paraguay maintained its benchmark interest rate at 6%, expecting inflation to reach its target by next year.
Trump nominates Michael Selig to lead CFTC amid digital asset focus.
On October 24, 2025, President Trump nominated Michael Selig to lead the CFTC, as lawmakers seek to solidify the agency's authority over digital assets.
Pakistan's central bank likely to hold rate at 11% amid inflation.
On October 27, 2025, Pakistan's central bank is expected to maintain its key interest rate at 11% due to inflation concerns.
BOJ considers rate hikes, wary of US tariff impact.
On October 29-30, 2025, the Bank of Japan will discuss resuming interest rate hikes, remaining cautious about the potential impact of US tariff policies.
US regulators challenge global bank capital rule favoring European lenders.
On October 24, 2025, US regulators are challenging a 2022 global bank capital rule that favors European lenders like BNP Paribas SA.