FT News Briefing A day of escalation in the Middle East
Oct 2, 2024
Tensions are skyrocketing as Iran launches missiles at Israel amidst Israel's ground offensive in Lebanon. France is shaking things up with tax hikes for the wealthy. Meanwhile, a massive strike by U.S. dockworkers threatens economic stability, leading to warnings of paralysis. Investors are eyeing profits from the uncertainty surrounding the U.S. presidential election, diving into volatility trades as the political landscape grows murky.
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Escalation in Middle East
- The Middle East conflict escalated with Israel invading Lebanon and Iran firing missiles at Israel.
- The US tried to contain the conflict, but their influence is waning.
France's New Budget
- France's new budget will include spending cuts and temporary tax rises for large companies and the wealthy.
- This contrasts Macron's previous policies of lowering taxes to stimulate growth.
Volatility Trading
- Investors are capitalizing on U.S. election uncertainty by betting on market volatility.
- They're using options tied to the VIX, anticipating market swings due to the close race.