U.S. 2s/10s Treasury yield curve inverts

AFP
Police arrest suspect who set woman on fire in New York subway
New York City police arrested a man suspected of setting fire to a woman on the subway in Brooklyn who died from the incident, authorities said, calling it "one of the most depraved crimes" a person could commit.The man "calmly walked up to the victim" on the F train in Brooklyn and set her ablaze on Sunday morning, New York City Police Commissioner Jessica Tisch told a press conference.
AFP
China vows 'cooperation' over ship linked to severed Baltic Sea cables
Beijing on Monday promised to continue "cooperation" with regional authorities over a Chinese ship linked to the recent severing of two undersea cables in the Baltic Sea.Beijing on Monday confirmed the ship had left to "to ensure the physical and mental well-being of the crew".
Associated Press
Middle East latest: Israeli airstrikes on Gaza kill at least 20 people, Palestinian medics say
Palestinian medics say Israeli airstrikes on the Gaza Strip have killed at least 20 people. One of the strikes overnight and into Monday hit a tent camp in the Muwasi area, an Israel-declared humanitarian zone, killing eight people, including two children.
Associated Press
AP PHOTOS: Ballerinas turn one of Kenya's largest slums into a stage for a Christmas show
With perfect pirouettes and plies, dozens of young ballet dancers gracefully moved between the makeshift iron houses of one of Africa’s largest urban slums, spreading Christmas spirit. Hundreds of residents in Kenya’s Nairobi cheered as the nimble ballerinas, wearing Santa hats and sparkling colorful outfits, turned the dusty narrow roads of the neighborhood of Kibera into a dance-worthy stage on Saturday. Organized by the Kibera Ballet School, one of the east African country’s smaller institutions that provides free lessons to children who otherwise wouldn’t have had access to this kind of training, the production was the result of rigorous practice.
Associated Press
Pandas An An and Ke Ke celebrate their 1st Christmas in Hong Kong
A pair of five-year-old pandas, named An An and Ke Ke, celebrated their first Christmas early in a Hong Kong park Monday, munching on special treats and looking cute for the cameras. An An, the male panda, was presented with an ice slab that had “Merry Christmas” written on it with sweet potato and carrots while Ke Ke, his female companion, got a snowman garnished with slices of carrot and apple in a special press event before visitors streamed to the park. China sent the pair to Hong Kong in late September in a bid to boost tourism in the city.
AFP
Philippine military says will acquire US Typhon missile system
The Philippine military said Monday it plans to acquire the US Typhon missile system to protect its maritime interests, some of which overlap with regional power China.As a rule, it takes at least two or more years for the Philippine military to acquire a new weapons system from the planning stage, Galido said, adding it was not yet budgeted for 2025.
Reuters
China says it provided information, documents in Baltic Sea cables inquiry
BEIJING (Reuters) -China has provided information and documents to a joint investigation into two severed Baltic Sea undersea cables, and has invited Germany, Sweden, Finland and Denmark to participate in and complete the inquiry, the foreign ministry said on Monday. Foreign ministry spokesperson Mao Ning made the remarks at a news briefing when asked about a Financial Times report that Sweden had criticised China for refusing full access despite an open investigation, and for not allowing its public prosecutor to board the suspect ship, Yi Peng 3.
Associated Press
Nissan, Honda announce plans to merge, creating world's No. 3 automaker
Japanese automakers Honda and Nissan have announced plans to work toward a merger, forming world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses. Honda's president, Toshihiro Mibe, said Honda and Nissan will pursue unifying their operations under a joint holding company.
AFP
Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants catch up with Chinese rivals and Tesla on electric vehicles.Ghosn told reporters in Tokyo on Monday via video link from Lebanon, where he is at large, that turning to its arch-rival Honda showed that Nissan was in "panic mode".
Reuters
Taiwan warns defence could suffer under opposition's funding laws
Taiwan's cabinet warned on Monday the island's security might be at risk after opposition parties passed laws that will require cuts in government spending, including defence, at a time when China has ramped up military activity nearby. Taiwan's opposition parties, which hold a majority in parliament, last week passed legislation to shift spending from the central government to local municipalities, a move strongly contested by the ruling Democratic Progressive Party (DPP) and thousands of protesters. The legislation will "seriously weaken the central government's financing," Finance Minister Chuang Tsui-yun said at a media briefing on Monday, adding the government might need to increase debt-financing.
Associated Press
Japan's former Emperor Akihito marks his 91st birthday
Japan's beloved former Emperor Akihito marked his 91st birthday on Monday, as he continues to pursue his lifetime research into goby fish, care for his wife and pray for peace. Akihito, who abdicated in 2019 and handed over the Chrysanthemum throne to his son, Emperor Naruhito, now holds the title of Emperor Emeritus. Akihito has since receded from official duties and enjoys his time quietly while caring for his 90-year-old wife, former Empress Michiko, who broke her leg bone in October and is still recovering, according to the Imperial Household Agency.
Reuters
France extends Olympics surveillance measures to Christmas market
The first time French police informed the Chechen refugee that he was prohibited from leaving the northeastern city of Strasbourg and must check in with them daily, he did not think it worth contesting the order. France was in the midst of a massive security operation for the summer Olympic Games, he explained, and he did not think authorities would listen to someone identified as a potential threat because of interactions with people identified as 'pro-Jihadist.' But when the Ministry of Interior extended the order in late August to help protect a famed Christmas market that was the target of a deadly attack in 2018, the refugee, known to friends as Khaled, appealed to the city's administrative court.
Associated Press
In the ruins of a bombed-out church in Lebanon, there's now a tiny Christmas tree
Once a vibrant community center, the 18th-century church is in ruins after an Israeli airstrike in October. Georges Elia, a 40-year-old municipal worker and churchgoer, took it upon himself to bring some normalcy as the holiday season approached, weeks after a fragile ceasefire between Israel and Lebanon’s Hezbollah militants. “This year, Christmas is arriving with sadness for us, but we didn’t want it to be a sad one for the town’s residents and its church,” Elia said.
AFP
Asian markets track Wall St rally as US inflation eases rate fears
Asian markets rose Monday after big gains on Wall Street, with traders welcoming below-forecast US inflation data that tempered worries that the Federal Reserve will take a more hawkish tone with interest rates next year.Sharp losses in reaction to the forecasts were pared after data showed the personal consumption expenditures (PCE) index, the Fed's preferred gauge of inflation, came in at 2.4 percent on-year in November.
CNN
Ex-US fighter pilot accused of training Chinese military to be extradited to the United States
A former US Marine accused of training Chinese military pilots will be extradited to face charges in the United States, Australia’s Attorney General confirmed Monday, dealing a blow to supporters who have mounted a public campaign for his freedom.
Associated Press
Tens of thousands displaced by ethnic violence in northeast India suffer squalid conditions in camps
Phalneivah Khonsai ran for her life when violence struck her neighborhood in India's restive northeast, carrying just the bare essentials in the hope that she and her family could return soon. Khonsai, her husband and three children left behind their house, which was torched by a mob, and made for the hills, where thousands of people from their community headed for safety. The relief camp is in Kangpokpi, about 50 kilometers (30 miles) from Imphal, the capital of India's northeastern Manipur state, which has been wracked by ethnic violence since last year.
Reuters
South Korea finance minister sees political turmoil weighing on economic growth
South Korea's finance minister said on Monday some slowdown in economic growth would be unavoidable as the government prepares to revise forecasts for this year and next year due to the country's ongoing political turmoil. "There are concerns that the sentiment may be weakening due to the recent political situation," Choi Sang-mok told reporters. "Due to many downside risks it is inevitable that next year's growth forecast will be lowered, and it is highly likely that it will fall slightly below the potential growth rate," Choi said, without elaborating on the country's potential growth rate.
CNN
North Korean soldiers given fake Russian military IDs, Ukraine says
North Korean soldiers fighting for Russia were given fake military documents with Russian names and birthplaces, the Ukrainian military said, amid claims from Kyiv that Russia is trying to conceal the presence of foreign fighters on the battlefield.
Associated Press
Australia approves extradition of former US Marine over alleged training of Chinese military pilots
Former U.S. Marine Corps pilot Daniel Duggan will be extradited from Australia to the United States over allegations that he illegally trained Chinese aviators. Australia’s Attorney General Mark Dreyfus approved the extradition on Monday, ending the Boston-born 55-year-old's nearly two-year attempt to avoid being returned to the U.S. Duggan, who served in the Marines for 12 years before immigrating to Australia and giving up his U.S. citizenship, has been in a maximum-security prison since he was arrested in 2022 at his family home in the state of New South Wales.
Associated Press
Luigi Mangione to appear in Manhattan court to face state charges in death of UnitedHealthcare CEO
The man accused of fatally shooting the CEO of UnitedHealthcare is expected to be arraigned in a Manhattan court Monday on murder and terror charges in a state case that will run parallel to his federal prosecution. Luigi Mangione, 26, was formally charged last week by the Manhattan district attorney with multiple counts of murder, including murder as an act of terrorism. The federal charges could carry the possibility of the death penalty, while the maximum sentence for the state charges are life in prison without parole.

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