The True Brief

UK and Canada to develop "two distinct but complementary" defence-finance institutions

In a joint statement, the two finance ministries said they had considered how the Multilateral Defence Mechanism and the Defence, Security and Resilience Bank "can best advance our shared objectives". They said they concluded "it is best to develop two distinct but complementary institutions that work in partnership". They agreed "to develop a framework of cooperation that works in the interest of both institutions", which they said will "provide complementary tools to strengthen the defence industrial base and enhance collective defence readiness".

UK government announces £432 million more for rough sleeping ahead of Wednesday's Budget

The UK government said Prime Minister Andy Burnham is announcing "a further £432 million" for rough sleeping, to be "confirmed at the Budget on Wednesday", taking total investment behind his commitment to "£874 million". Burnham said: "Rough sleeping isn’t a fact of life." The release says he is hosting the first Rough Sleeping Summit at Downing Street.

Rubio: conditions for Machado's "safe return" to Venezuela are "the direct result of the U.S. supported reconciliation talks"

US Secretary of State Marco Rubio wrote that "The conditions allowing for the safe return of Ms. Machado to Venezuela is the direct result of the U.S. supported reconciliation talks". He said those talks have "already seen hundreds of political prisoners freed" and that "The United States expects the freedoms of all sectors of Venezuelan politics to continue to be respected."

Von der Leyen congratulates "the Student List on its victory in the parliamentary elections" in Serbia

Von der Leyen wrote: "Congratulations to the Student List on its victory in the parliamentary elections." She said the people of Serbia "turned out in record numbers" and wrote: "We stand ready to support reforms on the rule of law, media freedom, the fight against corruption and strong democratic institutions". This is her statement.

Coming week: Fed, Bank of Canada and ECB rate decisions

The Federal Reserve's calendar lists an FOMC meeting on 27–28 October. The Bank of Canada lists its Interest Rate Announcement and Monetary Policy Report on Wednesday 28 October at 09:45 ET. The ECB's weekly schedule lists a Governing Council monetary policy meeting in Frankfurt on 28–29 October, with the decisions published on Thursday 29 October at 09:15 ET and a press conference at 09:45 ET.

ECB's Elderson: 72% of euro area companies depend on at least one ecosystem service

In a COP17 keynote in Yerevan, ECB Executive Board member Frank Elderson said "72% of companies in the euro area depend on at least one ecosystem service". He cited research finding "a 1-in-100-year drought event could put up to 24% of euro area economic output at risk", and said food-price rises after heatwaves and droughts "are an upside risk to price stability".

Treasury data: 10-year yield ended Friday at 5.00%

Treasury's daily par yield curve shows the 10-year yield at 5.00% on Friday 23 October, up from 4.96% on Thursday and down from 5.09% a week earlier. The 2-year yield was 4.69% (Thursday 4.65%) and the 30-year 5.33% (Thursday 5.29%). The 10-year's highest daily rate this year in Treasury's 2026 data is 5.31%, on 5 October.

Coming week: durable goods, new home sales, GDP, personal income and labour costs

Census lists September durable goods orders on Tuesday 27 October at 08:30 ET and new home sales at 10:00 ET, and advance economic indicators on Wednesday 28 October at 08:30 ET. BEA lists the third-quarter GDP advance estimate and September personal income and outlays on Thursday 29 October at 08:30 ET. BLS lists the Employment Cost Index on Friday 30 October at 08:30 ET.

White House graphic claims illegal immigrant population down "2.3 MILLION+"

The White House posted: "The illegal immigrant population is collapsing." The attached graphic reads "2.3 MILLION+ ILLEGAL IMMIGRANT POPULATION DECLINE" and "SINCE PRESIDENT TRUMP TOOK OFFICE" (per image text). This is the White House's figure; the post cites no source.

Rubio marks one year since the Kuala Lumpur Peace Accords

Rubio wrote that "One year ago, President Trump brokered the historic Kuala Lumpur Peace Accords between Cambodia and Thailand" and that "The United States continues to support implementation of the Accords".

Canada's Prime Minister account says Carney meets First Nations leaders and premiers today

The Prime Minister of Canada account (@CanadianPM) wrote on Sunday: "Tomorrow, Prime Minister Carney will meet with First Nations leaders and premiers to advance this work." It said "By working directly with First Nations, we can turn shared ambitions into concrete results."

Trump on Truth Social, Sunday (17 posts)

Seventeen posts on the official account between 09:22 ET and 22:31 ET Sunday; none after 22:31 ET as of about 04:15 ET Monday. No official White House transcript or video of Sunday's Port Huron, Michigan, rally was found.

• 09:22 ET: A link to a Just the News article headlined "Conservative Party wins in British Columbia for first time in almost 100 years". Post
• 11:50 ET: A link to a YouTube stream titled "LIVE: President Trump Holds a Rally in Port Huron, MI - 10/25/26". Post
• 12:49 ET: Trump wrote that "FoxNews is spending far too much time putting on the OPPONENTS of Republican Party Candidates". Post
• 13:29 ET: Trump wrote he was "Heading to Michigan to fight a Jihadist Member of the Muslim Brotherhood", naming Abdulrahman Mohamed El-Sayed, and said "the Auto Industry is doing better than it has ever done before". Post
• 18:58 ET: Trump re-shared his endorsement of Israeli Prime Minister Benjamin Netanyahu from a week earlier, writing "Vote for Bibi Netanyahu for Prime Minister" and that "Iran’s Inflation is at 301%". Post
• 19:26 ET: On Libya, Trump wrote that "Libya cannot remain a corridor for illegal migration, and this must end now" and that the US supports "the long-awaited unification of Libya". Post
• 19:37–19:38 ET: Three aerial photos of the White House South Lawn and the presidential seal, with no caption and no readable text beyond the seal. Post 1 · Post 2 · Post 3
• 19:58 ET: Trump announced "CHIRICAHUA NATIONAL PARK in ARIZONA" as "the NEWEST FLAGSHIP NATIONAL PARK" and credited Rep. Juan Ciscomani for "passing this Bill through Congress". Post
• 20:00 ET: A long post attacking Bill Maher, in which Trump also wrote "I am not building a swimming pool in the White House Briefing Room" and "I am thinking about moving the Press, and putting them in a different location". Post
• 20:16–20:17 ET: Three uncaptioned CNN clips of analyst Harry Enten; on-screen text includes "TRUMP TEARS UP THE RULEBOOK IN SECOND TERM" and a graphic headed "THE PRESIDENT REPUBLICANS MOST ADMIRE" (Trump 53%, Reagan 18%, Lincoln 8%) (per on-screen text). Post 1 · Post 2 · Post 3
• 21:58 ET: A re-share of another user's meme: an image of a Kevin Sorbo post reading "Not a single mosque has been damaged during the French riots. Must be a miracle." (per image text). Post
• 22:28 ET: A link to an Open magazine article headlined "Iran Oil Minister Resigns Amid US Blockade; Hamid Bovard Takes Interim Charge". Post
• 22:31 ET: A link to a New York Post article headlined "NY plans to drop part of Native American logo ban in ‘huge victory’ for Massapequa". Post