| The surprise attack on Israel by Gaza-based militant group Hamas and intensifying retaliatory strikes by Israeli forces have killed more than 1,500 people, mostly civilians. On Monday, the fighting in the south of Israel and the bombing of Gaza continued as Prime Minister Benjamin Netanyahu said retaliation has “only started.” Israel announced its largest-ever mobilization, more than 300,000 army reservists, as its forces sought to prevent further incursions while potentially preparing for a ground invasion of densely populated Gaza. Israel has reportedly cut off the impoverished strip from any transport of food or fuel. A spokesman for Hamas said the group—which killed hundreds of civilians in its weekend attack—was prepared to kill hostages it took during the assault. Abu Obaida told Al Jazeera that Hamas would kill one hostage every hour should Israel strike civilian homes in Gaza without warning. In the north, Israel’s military said it killed an unspecified number of infiltrators who had crossed into its territory from Lebanon. And while Iran-backed Hezbollah claimed credit for launching strikes at Israel, the US says it doesn’t have any specific intelligence or evidence that points to direct participation by the militant group’s patron. Still, to the west, a US aircraft carrier battle group is steaming toward the area. Read the latest on the war here. —Natasha Solo-Lyons and David E. Rovella Fertilizer makers jumped after the surprise attack on Israel raised concerns over how the conflict could impact global supplies of nutrients used to grow crucial food crops. Israel’s Port of Ashdod, just north of Gaza and a key hub for the country’s potash fertilizer exports, is now in emergency mode and as much as 3% of global potash supply is possible risk. Oil surged in the aftermath the attack amid fears of a wider conflict. The three major US airlines halted flights to Israel as a result of the weekend attack while some Middle Eastern and European carriers continued to provide passengers an exit route from the conflict zone.  Israeli airstrikes on Gaza, like this one in the Rimal district of Gaza City, continued on Monday. The war has shaken markets for oil and fertilizer. Photographer: Ahmad Salem/Bloomberg China’s rich are entrusting total strangers to sneak cash out of the country. Crackdowns on ideologically out-of-favor industries, uncertainty over geopolitical tensions and Xi Jinping’s push for “common prosperity” have spooked the rich and even the middle class. Since international borders reopened post-pandemic, advisers to China’s rich report a surge in demand for overseas backup options. As bond markets everywhere get battered by a cocktail of higher interest rates, deficit angst and hawkish central bankers, one class of debt instrument is handing creditors double-digit returns: catastrophe bonds. Federal Reserve Bank of Dallas President Lorie Logan said the recent rise in long-term Treasury yields may mean less need for the US central bank to raise its benchmark interest rate again. “Higher term premiums result in higher term interest rates for the same setting of the fed funds rate, all else equal,” Logan said Monday in remarks at the National Association for Business Economics meeting in Dallas. Stocks rose on her remarks. Here’s your markets wrap.  Lorie Logan Photographer: Nitashia Johnson/Bloomberg Tesla’s top-selling electric vehicles now compete directly with gasoline cars on price after the latest round of price reductions. But the lower prices could cost the company $1.2 billion a year. At $38,990, the base Model 3 sedan now costs $8,700 less than the average amount paid for a car or truck in the US. Republican presidential candidate Nikki Haley raised more than $11 million in the third quarter, giving her more resources than Florida Governor Ron DeSantis as they fight to be the strongest alternative to current frontrunner Donald Trump. Cipriani, the operator of celebrity-packed restaurants and members’ clubs, is said to be seeking to raise as much as €500 million ($526 million) for its global expansion. The company’s new Cipriani Hospitality Fund will invest in iconic buildings in locations including Dubai, Singapore, Madrid, Geneva and Tokyo, according to an investor presentation seen by Bloomberg News. These will be developed into members’ clubs under the Casa Cipriani banner, and luxury residences.  Cipriani Downtown in the Soho neighborhood of New York City Photographer: Amir Hamja/Bloomberg Get the Bloomberg Evening Briefing: If you were forwarded this newsletter, sign up here to receive Bloomberg’s flagship briefing in your mailbox daily—along with our Weekend Reading edition on Saturdays. Bloomberg Screentime in Los Angeles: Our award-winning journalists cover the intersection of Hollywood and Silicon Valley every day. Now we're bringing this coverage to life with a new event. Join us Oct. 11-12 for Bloomberg Screentime, a conference that will gather the moguls, celebrities and entrepreneurs defining the next phase of pop culture. Lucas Shaw hosts and guests will include Netflix’s Ted Sarandos, Insecure creator Issa Rae, Endeavor’s Ari Emanuel, YouTube CEO Neal Mohan and many more. Register here. | 
