S&P affirms Egypt's 'B/B' rating; outlook stable.

Zimbabwe reaffirmed a ban on lithium concentrate exports due to take effect in January 2027, saying producers have had ample time to meet the beneficiation deadline and there is no basis for further delay. The government suspended concentrate exports in February to force domestic value‑added processing and curb illegal shipments for EV batteries, relaxed restrictions in April, and rejected producers’ requests for more preparation time, according to Nick Mangwana, permanent secretary at the information ministry.

BofA strategist Michael Hartnett says investors are shifting into money-market funds at the fastest pace since the COVID pandemic and that trend is unlikely to reverse near term unless the Fed implements large-scale monetary easing and sustained rate cuts. Week to Oct. 7: money-market funds net inflows $166.4bln, bond funds $33.8bln, equity funds $12.4bln — both far smaller than MMF flows. Hartnett: If the Fed does not cut, investors will not reduce cash holdings. He sees the US midterm elections as the most likely catalyst for outsized equity volatility in 2027 and, given the current tightening cycle and ongoing tightening of financial conditions, favors a defensive reduction in risk exposure ahead of the midterms.