Spain is considering capping natural gas prices to curb electricity bills, market sources said.

Haidar, founder and CIO of Haidar Capital Management, said the Fed may need more rate hikes than currently priced to drive inflation back to target. The Fed last week raised the federal funds target range 25bp to 3.75%-4.00% and signaled another hike this year; money markets price three 25bp hikes over the next 12 months. Haidar said the market’s reaction to the September dot plot was hawkish, suggesting markets remain overly optimistic about the necessity of tightening. He expects the FOMC to raise rates at least in Dec 2026 and Mar 2027, and said 4–6 additional hikes would likely be required to have a meaningful impact on inflation.

UK Prime Minister Burnham said the Kremlin spends about £1.3 billion a year on information operations.