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More →Hungary plans to cut wholesale electricity prices by more than 60% by 2040.
According to news from Bijie, Hungary has launched a comprehensive reform of its energy sector, planning to reduce wholesale electricity prices by more than 60% by 2040. András Tóth, State Secretary of Hungary's Ministry of Energy, said the government will achieve energy autonomy and reduce imports of natural gas and crude oil. Specific measures include extending the operating life of nuclear power units, lifting the ban on wind power investment, and building energy storage facilities to improve the utilization efficiency of solar power generation. The plan is to add 4 gigawatts of new wind power installed capacity by 2032 and build at least 3 gigawatts of energy storage facilities by 2028. According to government estimates, after adjusting the energy structure, wholesale electricity prices are expected to fall to about 50 euros per megawatt-hour, a decline of more than 60% from about 128 euros under the current system.
UBS: Today's US Treasury selloff is different from 1999.
UBS says today's US Treasury selloff is not a repeat of 1999. The 10-year Treasury yield recently reached 5.34%, prompting comparisons to 1999, when yields approached 5.8% during the dot-com bubble. UBS believes that although there are similarities between the current AI infrastructure boom and the telecom spending of that era, there are still major differences. Unlike the budget surpluses of 1999, the current US fiscal deficit exceeds 6% of GDP, which means the market needs to absorb more long-term debt and could keep yields elevated even if the Federal Reserve pauses rate hikes.
Brent and WTI crude oil prices rose more than 5% due to attacks on shipping in the Gulf and a U.S. hurricane.
Brent and WTI crude oil prices rose more than 5% due to attacks on shipping in the Gulf and the suspension of oil production caused by a U.S. hurricane.
The UK Foreign Office has announced new sanctions on Russian financial services and the country's so-called "shadow fleet."
The UK Foreign Office has announced new sanctions on Russia's financial services sector and the country's so-called "shadow fleet," targeting companies allegedly involved in Russian financial services and vessels allegedly involved in transporting Russian oil products, according to CoinWorld news.
Bitcoin's market cap dominance stands at 59.26%.
According to Bijie.com data: Under Bijie.com's unified market methodology, Bitcoin's market capitalization accounts for 59.26% of the total cryptocurrency market capitalization.
BTC perpetual contract open interest totals 15.347 billion USD
According to Bijie.com data: under the statistical methodology of selected mainstream platforms, the total notional open interest of BTC USDT-margined perpetual contracts is 15.347 billion USD.
JPMorgan downgraded HubSpot from Overweight to Neutral, and the company's stock fell 1.8% in premarket trading.
CoinWorld news, JPMorgan downgraded HubSpot from Overweight to Neutral, and the company's stock fell 1.8% in pre-market trading.
PepsiCo shares erased earlier losses in premarket trading and are now up 0.4%.
According to Bijie News, PepsiCo's pre-market stock price erased its earlier losses and is currently up 0.4%.
Argus: US Gulf-to-Asia Pacific VLCC freight rate hits a new all-time high again
Argus: US Gulf-to-Asia Pacific VLCC freight rates hit a new all-time high. As buyers in the Asia-Pacific region continued to step up crude oil purchases to maintain refined product production, freight rates for very large crude carriers loading along the US Gulf Coast rose to a record high on October 7. Market sources showed that a charterer reached a tentative deal at a lump-sum freight of $81 million for a VLCC owned by South Korea's Sinokor, for a US Gulf-to-Asia Pacific voyage loading in late November. This is the highest freight rate Argus has recorded since it began assessing this route in 2017. The route's freight rate rose by $17.75 million from the previous trading day and was more than $63 million above the high of about $22.5 million before the escalation of the Middle East situation. Previously, sustained market activity also drove freight rates steadily higher. Another charterer listed Sea Jade's VLCC for a tentative deal at a lump-sum freight of $77 million, for a US Gulf-to-South Korea voyage loading in early November.
NVDA off-exchange short sale volume ratio reported at 51.48%
CoinWorld US stock data: NVDA's off-exchange short selling volume accounted for 51.48% of the total that day. Compared with the same-caliber snapshot 24 hours earlier, it fell by 5.0772 percentage points.