Citigroup places Boston Scientific on 90-day downside catalyst watchlist

(1) Brazilian assets surged as investors quickly bet on a possible government change. (2) Previously, Senator Flávio Bolsonaro outperformed polling expectations in the first round of the presidential election, leading current President Lula in votes and appearing poised to win the second round scheduled for October 25. (3) After the opening in São Paulo, the Brazilian real jumped as much as 3%, outperforming all other currencies. In pre-market trading in New York, the US-listed iShares MSCI Brazil ETF rose 15%. (4) Bolsonaro, seen as more market-friendly than the leftist Lula, received 47% of the votes, while Lula got 45%. Previously, investors widely expected Lula to lead in the first round and believed a tie would already be the best result for Bolsonaro. (5) JPMorgan stated in a report that this campaign now appears to have become a case of Bolsonaro “leading and just needing to hold on”. (6) Antonina Tarassiouk, head of international economic analysis at Reams Asset Management, which manages $3.4 billions in assets, said: “This is a welcome surprise. Previously, there was a clear asymmetry in the results: either Lula would maintain the status quo, or the more market-friendly, fiscally disciplined Bolsonaro would win. Now, this gives investors a signal to further expand long positions.”

Spot silver has just reached the $62.00/oz mark, currently trading at $62.00/oz, up 2.75% on the day; the main COMEX silver futures contract is now quoted at $62.37/oz, up 3.24% on the day.

Today (5th), it was learned from China National Petroleum Corporation (CNPC) that the largest desert oilfield in China, the Had-Fuman oilfield, has surpassed 26 million tons in oil and gas production extracted from more than 6,000 meters underground. Recently, Well Zhentan-1, located on the northern edge of the Taklamakan Desert, successfully extracted a rock core from a depth of 8,080 meters. These rock cores have been dormant underground for approximately 500 million years. This is the first time that a core has been extracted from a depth of over 8,000 meters on the northwestern margin of the Tarim Basin in China. Xu Yanan, the director of the Tarim Oilfield Project Department at CNPC, stated that with these valuable rocks, they can now analyze and evaluate the generation potential of oil and gas below 8,000 meters, assess the thickness of the reserves, and determine their maturity. (CCTV Finance)