In a September 1 X post, Kannon Shanmugam, a lawyer representing Joseph Van Loon and several others in a lawsuit against the U.S. Treasury hinted that he would be presenting arguments in the Fifth Circuit for the case. In a show of support for the legal challenge, Coinbase’s Chief Legal Officer, Paul Grewal, responded to…
Markets Trading slowed down to a trickle today in absence of US investors (Labour Day holiday) and amid an empty EMU eco calendar. A lot of ink has been spilled about this week’s key US eco data and their impact on markets and Fed policy. It allows us to have a look at this week’s…
In the final week of August, financial markets delivered unexpected developments that caught many by surprise. Investor sentiment decisively shifted towards a risk-on approach, propelling major indices like DOW and DAX to new record highs. This optimism was largely driven by expectations of forthcoming monetary easing from key central banks, including Fed and ECB. Despite…
OpenAI is preparing to raise its next funding round, seeking to secure billions of dollars at a $100 billion valuation. Tech giants like Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), and Nvidia (NASDAQ: NVDA) are rumored to be interested in participating. Each of these companies is no stranger to OpenAI: Microsoft has been a primary investor,…
We expect another 25-bps cut to the overnight rate (to 4.25%) from the BoC meeting next week to build on cuts already delivered in each of the prior two meetings in June and July. Comments from Governor Macklem will likely again err on the dovish side, continuing to emphasize a softening economic backdrop that makes…
The U.S. State Department has teamed up with Nigeria to further the responsible use of artificial intelligence (AI) in the military. Mallory Stewart, whose role at the State Department focuses on arms control and stability, recently discussed AI use in military operations with Nigeria’s Ministry of Foreign Affairs, the Ministry of Defence, the national security…
The Japanese yen has shown a notable strengthening, with the USD/JPY pair dropping to 143.99 on Monday, marking a three-week low. This movement is primarily driven by the weakness of the US dollar and significant remarks from the Bank of Japan (BOJ) and the US Federal Reserve. Market dynamics and Central Bank signals The recent…
Fed Chair Jerome Powell’s highly anticipated speech at Jackson Hole didn’t disappoint market participants, as he clearly signaled that the time for easing monetary policy has arrived. This declaration provided a notable boost to US stock markets on Friday, with major indexes ending the week on a positive note. Meanwhile, Dollar tumbled across the board,…
Canada’s GDP report next week is expected to show further weakening in the Canadian economy. We expect a 1.4% (annualized rate) increase in GDP in Q2 – below Statistics Canada’s 2% preliminary estimate a month ago, and marking the 7th of the last 8 quarters of declining output on a per-capita basis. Growth in GDP…
The Colorado House of Prayer has announced the tokenization of its principal place of worship in a valiant attempt to raise funds to purchase the building. According to a Forbes report, the church is keen on purchasing the 11,457-square-foot property it has been renting since 2022. Dubbed the “Old Stone Church” for its design, the…