Top Overnight News Trump’s farm aid plan (which is expected to be 12-13B initially and potentially as large as 50B over time) is delayed by the shutdown. officials were said to have readied nearly USD 13bln from an internal USDA fund, although there is no final decision on how much will be used for farm aid, or when: Politico American farmers are in “panic” mode as Chinese soybean buyers stay on the sidelines (“we’ll see the bottom drop out if we don’t get a deal with China soon”). WSJ US Senate leaders were reportedly trying to lock in votes on Tuesday evening with a variety of options, including the noms bloc, privileged resolutions (maybe Canada tariff disapproval), and the duelling CRs again: Punchbowl. More than 250,000 federal workers missed paychecks as the shutdown entered the second week, with 2 million more at risk. Meanwhile, bond traders are hedging against a wider range of Fed outcomes amid a data blackout. BBG Elon Musk’s xAI is raising 20 billion, including 2 billion from Nvidia, to finance AI chips for its Colossus 2 project, people familiar said. The deal will be split between equity and debt, allowing xAI to rent Nvidia processors for five years. BBG China saw a spike in travel over the Golden Week holiday, but consumer spending was fairly muted. FT Japan's likely next premier Sanae Takaichi is already facing criticism from her ruling party's long-time coalition partner, a rift that could delay or, in an extreme scenario, jeopardize her premiership. RTRS EU officials see new US trade demands as potentially threatening a recent deal and risking renewed conflict, people familiar said. Washington wants talks on the EU’s legislation, raising concerns over regulatory autonomy. BBG Caretaker French Prime Minister Sebastien Lecornu struck a cautiously optimistic tone on Wednesday, saying a deal could potentially be reached on the country's budget by year-end, making the risk of a snap election more remote. RTRS Prolonged funding pressures in US money markets, just as bank reserves held at the Federal Reserve are dwindling, suggest the central bank may be getting closer to ending the unwinding of its massive portfolio of securities. BBG(zerohedge)