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Is the new Philippines-Germany defence pact built to last?

The Philippines and Germany have signed a new defence cooperation agreement, enhancing military collaboration in logistics, cybersecurity, and UN peacekeeping. This pact builds on a 1974 agreement and aims to address interconnected security challenges in the Indo-Pacific and Europe. Both countries share concerns over China's assertive actions in the South China Sea and Russia's geopolitical influence. The agreement reflects a mutual commitment to peace and stability, with Germany expected to boost the Philippines' defence capabilities and engage more with ASEAN.

南华早报·
南华早报·

Wall Street sings in unison: Goldman Sachs and Deutsche Bank bet on the Federal Reserve's interest rate cuts, and the decline of the US dollar in 2026 is unstoppable

Wall Street generally believes that the Federal Reserve will cut interest rates next year, with Deutsche Bank and Goldman Sachs expecting the US dollar to continue weakening in 2026. As the Federal Reserve continues to cut rates, central banks in Europe and Japan tend to maintain or even raise interest rates, which will weaken the attractiveness of dollar-denominated assets. If the Fed's rate cuts exceed expectations and the economies in non-US regions recover, the dollar may face sustained depreciation pressure

Wallstreetcn·
US
DB
-3.22%
US
GS
-2.53%
Wallstreetcn·
US
DB
-3.22%
US
GS
-2.53%

Europe before the bell: Back near record highs

European stocks are experiencing a strong trading session, with the STOXX 600 up 0.6%, nearing last month's record high. Gains are broad-based, with travel, leisure, financials, and defense sectors all rising over 1%. UBS shares increased by 4% following reports of a proposed compromise on capital rules. Germany's DAX is up 0.7%, driven by Adidas and midcap gains from Lufthansa and Puma.

Reuters·
DE
ADS
0.00%
US
DAX
-0.68%
Reuters·
DE
ADS
0.00%
US
DAX
-0.68%

U.S. Futures Mixed, European Stocks Up

U.S. futures were mixed with S&P 500 flat and Dow up 0.3%. European stocks rose, with Stoxx Europe 600 up 0.4%. Notable gains included LPP and Wendel, while Sartorius stocks fell. FTSE 100, CAC 40, and DAX also increased. Brent and WTI crude prices rose slightly. Asian markets saw gains, with Nikkei 225 and Hang Seng up over 1%. Bond yields in Germany and the U.S. increased slightly.

MorningStar·
US
DAX
-0.68%
US
YCS
+0.30%
MorningStar·
US
DAX
-0.68%
US
YCS
+0.30%

European shares gain on boost from banks, Fed cut optimism

European shares rose, led by banks, following Wall Street gains after the Fed's interest rate cut. The STOXX 600 increased by 0.3%, with Spain's IBEX up 0.6% and Germany's DAX up 0.5%. BNP Paribas rose 1.5% amid talks to sell its Moroccan unit. Investors shifted from defensive sectors, boosting Adidas and Puma by over 1.7%.

MSN·
US
ADDYY
+1.98%
DE
ADS
0.00%
US
DAX
-0.68%
MSN·
US
ADDYY
+1.98%
DE
ADS
0.00%
US
DAX
-0.68%
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