Qatar's prime minister said the economic crisis is an opportunity to trim bloated government spending and refocus state investment on priority areas.

US President Trump told Fox News he is "making a decision" on Iran and said "very significant" developments could occur soon. He outlined options including annihilating Iran, crippling its economy, or striking a deal. Trump said he "might" meet Iran president PEZESHKIAN during next week’s UN General Assembly in New York, where PEZESHKIAN is due to appear, and noted recent alerts while calling the weekend routine.

Wall Street banks expect the US to borrow roughly $1tn by issuing short-term Treasuries over the next year to meet rising financing needs, the Financial Times reports. BofA projects net new cash borrowing excluding refunding in the fiscal year to Sept 2027 at about $1.07tn; JP Morgan forecasts $1.09tn of short-term issuance in 2027; Goldman sees $961bn. The rise in bill issuance arrives as long-term borrowing costs sit at their highest since 2007; Treasury Secretary Scott Bessent has pushed to expand 10-30yr buybacks to lower the long end. BofA expects outstanding short-term Treasuries to climb to roughly $8tn by next Sept, about 24.3% of marketable debt; Goldman projects 24.3% next year and 24.9% in 2028 — near pandemic highs and above the Treasury Borrowing Advisory Committee’s ~20% suggested long-run share. Analysts say heavier bill issuance can reduce near-term financing costs but increases future refinancing risk; BofA rates strategist Mark Cabana warned large bill supply could make interest expense larger and more volatile. The Fed’s purchases of short-term Treasuries this year and roughly $8tn in money market fund assets are supporting demand for bills.