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As 2025 draws to a close, the 10-year Treasury yield has dipped slightly amid quiet trading. But with fresh Fed minutes revealing a divided committee and key jobless claims data looming, investors are asking: will rate cuts continue into the new year, or is a pause on the horizon? The clues are in the final numbers of the year...

As the G7 gathers for an emergency session on the escalating Iran situation, deep divisions among allies are emerging. With energy markets in turmoil and diplomatic ties fraying, the consequences could be far-reaching. But how bad will it get?

Aluminum just hit a four-year high in London with the cash-to-three-month spread exploding into the deepest backwardation since 2007. Geopolitical shocks in the Gulf are tightening supplies fast, but how long can this squeeze last and what does it mean for the broader economy?