The German Ministry of Defense announced that the German Budget Committee has approved the 2026 defense budget, which includes five procurement projects worth approximately €3.85 billion.

Conflict Situation: 1. Russia – ① According to RIA Novosti: Russian air defense forces shot down 22 Ukrainian drones last night. ② The regional governor stated that the Ukrainian drone attack triggered a fire in an industrial area in the Stavropol region of Russia. ③ The Russian military's unmanned systems unit has been formally established. 2. Ukraine – The Ukrainian military stated that due to the Russian attack, it has withdrawn troops from near another settlement on the southeastern front of Zaporizhzhia. This has halted the Russian advance in the region. Other Situations: 1. US – US Secretary of State Rubio: The US must now assess that Russia does not actually want peace. 2. EU – German Finance Minister: Will push for an additional €3 billion in aid to Ukraine in budget negotiations. 3. Ukraine – ① Ukraine's First Deputy Foreign Minister: Peace talks with Russia this year have yielded almost no results, and therefore negotiations were previously suspended. The Ukrainian Foreign Ministry: Peace talks with Russia will not take place until at least the end of the year. ② A wartime corruption scandal has been exposed in Ukraine, leading to the resignation of the Minister of Energy and the Minister of Justice. 4. Russia – ① Putin allowed Citigroup to sell its Russian banks. ② Russian Foreign Ministry: Russia is prepared to resume talks with Ukraine in Istanbul. ③ Sources say Lukoil has applied to the US Treasury Department for an extension of the November 21 deadline for prohibiting transactions with the company. 5. Other – ① Canada announced new sanctions against Russia, targeting drone manufacturers and its fleet. ② Kazakh President: Kazakhstan and Russia have agreed to strengthen their partnership in the supply of oil, petroleum products, and other goods. ③ G7 Foreign Ministers' Joint Statement: Reaffirming unwavering support for Ukraine in defending its territorial integrity and right to survival, and agreeing that "the current line of contact should serve as the starting point for negotiations." Increased economic pressure on Russia and consideration of sanctions against countries and entities assisting Russia in financing.

Federal Reserve's Mossala: So far, I've supported rate cuts to protect the labor market. Now, caution is needed.