2023.11.9 Today’s Focus

1. Palestinian-Israeli Conflict-Israeli Army: Hamas has lost control of northern Gaza. It is reported that Qatar is mediating ceasefire negotiations for 1-2 days in exchange for the release of more than ten hostages.

2. UBS Group launched AT1 bond trading for the first time since the Credit Suisse incident.

3. The Ukrainian military said that Russian missiles hit merchant ships or damaged grain export channels.

4. OpenAI’s ChatGPT and API services experienced severe outages yesterday evening.

5. Interfax: Russia is considering lifting the export ban on gasoline AI 92 and AI 95.

6. Eli Lilly’s weight loss drug Zepbound has been approved by the FDA for marketing. It sells for $1,059.87. Eli Lilly is expected to launch it shortly after Thanksgiving.

7. Federal Reserve - Cleveland Fed President Mester will leave office on June 30 next year. He will have FOMC voting rights next year. Williams: Errors in inflation forecasts should not be blamed on the Federal Reserve's economic model. Powell urges the Federal Reserve Economists need to be flexible in their forecasting methods.