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Mojtaba Khamenei: The Rise of Iran’s New Supreme Leader

                      A picture of Iran's new supreme leader, Mojtaba Khamenei, is displayed on a screen in Tehran Mojtaba Khamenei, 56, has emerged as Iran’s new supreme leader following the assassination of his father, Ayatollah Ali Khamenei, in joint U.S.–Israeli strikes. His appointment by the Assembly of Experts comes at a moment of profound crisis for Iran, as the country faces regional war, internal instability, and intense international scrutiny.  A Secretive Heir With Deep Establishment Ties Mojtaba, long considered influential behind the scenes, is a mid-ranking cleric with strong connections to the Islamic Revolutionary Guard Corps (IRGC). His political rise signals continuity of Iran’s hardline establishment, despite the country’s ideological discomfort with hereditary succession.  A Leader Shaped by Conflict and Loss His ascension comes amid the “Ramadan War,” during which he was reportedly wound...
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U.S. Markets Tumble on Earnings, Bond Yields

U.S. stocks fell on Wednesday, October 25, 2023, as investors digested mixed earnings reports from Microsoft and Alphabet while Treasury yields pushed higher. The Dow Jones Industrial Average dropped 0.32% to 33,035.93 points, the S&P 500 index slid 1.43% to 4,186.77 points, and the Nasdaq composite index plunged 2.43% to 12,821.22 points.

Alphabet shares slid more than 9% after the Google parent beat on earnings and revenue but fell short in its cloud business. Microsoft shares rose 3% after its own double beat showed its bets on AI were paying off for its cloud segment. Other tech giants such as Amazon and Meta also declined ahead of their earnings reports.

The earnings season also coincided with a surge in bond yields, as the Bank of Canada and the U.S. Federal Reserve signaled their readiness to fight inflation by keeping interest rates high. The BoC held its key rate at 5.0%, but lowered its 2023 growth forecast to 1.2%. The Fed is expected to announce its tapering plans next week.

The higher yields weighed on rate-sensitive sectors such as technology and real estate, but boosted energy and financial stocks. The Canadian dollar traded for 79.23 cents US compared with 79.28 cents US on Tuesday.



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