Foreign holdings of U.S. Treasury securities fell for a third straight month in September as China and Japan, the two biggest foreign owners of Treasury debt, both trimmed their portfolios. The Treasury Department said Wednesday that total foreign holdings dropped 0.7 percent to $6.15 trillion in September. Source: ABC News
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Ericsson underperformed already low expectations as it reported a decline in third-quarter sales and big loss as the Swedish telecoms equipment maker continues to struggle. Sales in the third quarter fell by 6 per cent to SKr47.8bn, in line with analyst forecasts, but Ericsson announced an operating loss of SKr4.8bn, well ahead of average estimates of a loss of SKr3.5bn. Source Financial Times
The Pentagon has stated that the United States will continue to cooperate with the Syrian Democratic Forces (SDF), a militant group dominated by the Syrian Kurdish Peoples’ Protection Units (YPG), an armed group viewed as a terrorist by Turkey. Source: Hurriyet Daily News
President Recep Tayyip Erdoğan highlighted the importance of the use of national currencies in trade, noting that it will have positive repercussions for the economy. Speaking at the Developing-8 (D-8) Organization for Economic Cooperation Summit in Istanbul, Erdoğan said that switching to national currencies will revolutionize trade relations. Source: Daily Sabah