Oct 16, 2026, 10:30 AM UTC

Ludovic Subran, chief investment officer and chief economist at Allianz, expects the US Federal Reserve to raise interest rates by as much as 75 basis points following the midterm elections. Speaking to Bloomberg Television, Subran pointed to persistent inflationary pressures linked to energy costs and artificial intelligence deployment.

Observing that "the US is running hot, and I think he cannot ignore that," Subran argued that monetary authorities will be forced to respond aggressively once the election concludes. He emphasized that decisive action will be required to manage price surges across the American economy.

Sources: Bloomberg

Vale Chief Executive Officer Gustavo Pimenta has stated that global iron ore prices should be "a little higher" to account for mounting operational expenses. Speaking in an interview, Pimenta highlighted that escalating energy and transportation expenses have rendered approximately 10% of global seaborne supply unviable financially.

The executive's comments follow a decline in Singapore iron ore futures, which fell below $90 per ton this week—marking a two-year low and bringing total losses for 2026 to around 15%. During the discussion, Pimenta also addressed market conditions in China, rising production costs, and potential ramifications for Brazil's mining industry depending on the outcome of the country's upcoming presidential election.

Sources: Bloomberg.