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HBO and The Ringer's Bill Simmons hosts the most downloaded sports podcast of all time, with a rotating crew of celebrities, athletes, and media staples, as well as mainstays like Cousin Sal, Joe House, and a slew of other friends and family members who always happen to be suspiciously available.
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Show Notes — Current Market & News Briefing (Fri, 10 Oct 2025, US Open)
Focus: FX, commodities, trade/tariffs, geopolitics
Excluded: Equities, fixed income (unless tied to FX), crypto
FX
- USD: Eases after four-day climb; focus pivots to September CPI (BLS preparing release despite shutdown).
- JPY: Volatile—MoF flags “one-sided, rapid” FX moves; Komeito signals exit from 26-year coalition with LDP, briefly strengthening JPY before two-way swings.
- EUR: Sub-1.16, steady with French PM decision pending.
- GBP: Stabilizes near 1.33 after recent softness.
- AUD/NZD: Antipodeans firmer on stronger CNY fix, but NZD still heavy post-RBNZ -50 bp and open door to more cuts.
Commodities
- Oil: Softer; Gaza ceasefire headlines trim risk premium; chatter of Saudi flows to China lower in Nov vs Oct.
- Gold: Marginally higher after dip below $4,000/oz; haven interest steady as USD pauses.
- Metals: Copper retraces as China risk tone cools amid tech/trade frictions.
Trade, Tariffs & Tech Policy
- China: Reported customs crackdown on US AI chips; special port fees on US vessels start Oct 14; earlier expanded export controls on rare earths, batteries, graphite, super-hard materials (Dec start).
- US: Near framework to allow US chip exports to Saudi Arabia; probing possible workarounds to chip rules; considering pharma tariffs with potential generics exclusion.
- Bilateral tracks: US–Japan aim to smooth trade deal implementation; US–India review progress; Vietnam–US talks set for Oct/Nov.
- Rhetoric: White House floats curbing “massive” imports from China; plans to raise soybeans directly with Beijing.
Geopolitics
- Middle East (Gaza): Israel approves plan; military says ceasefire effective 10:00 BST; first phase includes hostage–prisoner exchange and initial withdrawal to agreed line. US signals support, possible small role in joint task force with Egypt/Qatar; Houthis say they’ll monitor compliance.
- Russia–Ukraine: Mass strikes on Ukrainian energy infrastructure; widespread eastern outages; US hints at additional sanctions on Moscow.
- Taiwan/China: Taipei warns of intensified hybrid warfare (AI-enabled cyber ops, gray-zone pressure); accelerates air-defense build-out.
- UN: Plans ~25% cut to peacekeeping deployments due to funding; UNSC to meet on US–Venezuela tensions.
Watch next
- US CPI for FX direction.
- Implementation milestones on the Gaza ceasefire.
- Real-economy impact from China’s chip enforcement and port fees.
- Oil reaction to ceasefire and Saudi–China flows.
- Gold behaviour around $4k and USD/JPY volatility amid Japan politics.
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