WEDNESDAY, SEPT 23, 2026 — Trump defends Iran war at UN, diesel hits records on war disruption, and five Adani companies settle SEBI disclosure case tied to Hindenburg.

Trump’s “America is back” UN speech keeps Iran war bid in oil, but in Seoul he reaffirms N. Korea dialogue with Lee while skipping N. Korea at UN. Korea trades headline risk both ways. Trump backing a diesel export ban is the commodity wildcard: diesel already at records on Iran/Ukraine. Ban would tighten global distillate, squeeze US refiners, and hit India’s import bill. Rupee at 95.59 is stronger on lower oil + RBI dollar sales. Good signal. But RBI warning banks against a loan price war is bad for NIMs — watch banks. WACR topping repo for first time in nearly two months says call money tight. Financials are falling with AI and flattening curve in focus. Bad combo for banks. Prediction markets: 75.5% Fed upper bound above 3.75% after Mar 2027, 97.5% CPI above 3.2% for Sep 2026, only 21% for >125k payrolls. Sticky inflation + weak jobs = stagflation-lite. Watch rates. Five Adani companies settle SEBI disclosure violations tied to Hindenburg. Overhang clears, but governance discount s

Trump’s “America is back” UN speech keeps Iran war bid in oil, but in Seoul he reaffirms N. Korea dialogue with Lee while skipping N. Korea at UN. Korea trades headline risk both ways.