After the National Day holiday, China’s public mutual fund issuance market rebounded: 65 new funds began subscriptions in the week Oct 12–18, up 209.52% week-on-week and the highest pace in nearly six weeks.

Edoardo Campanella, head of investment research and editor‑in‑chief at UniCredit, said the recent bond‑market sell‑off highlights the challenges of large public debt. He warned Europe’s push for strategic autonomy is unlikely to be financed solely by reallocating welfare to defense; instead it will probably involve higher government borrowing, increased taxes and a larger public sector. Campanella said this suggests the long‑run equilibrium level of interest rates could structurally rise even if cyclical growth remains modest. He cautioned that without closer coordination between fiscal and monetary authorities Europe risks underinvesting in critical strategic sectors and seeing sovereign bond spreads widen.

The FAA urged U.S. carriers to exercise caution when flying to Saudi Arabia or over Saudi airspace.