EUR/USD
1.14779
-0.228%
Gold
5015.08
0.180%
Oil
96.707
3.737%
USD/JPY
159.385
0.197%
GBP/USD
1.32878
-0.236%
GBP/JPY
211.792
0.023%
Real-time News
On March 17, Moscow Mayor Sergei Sobyanin reported that 38 more drones flying towards Moscow were shot down between midnight and 6:13 a.m. local time. Sobyanins social media post indicated that this wave of drone downings in Moscow began on March 14, with dozens being shot down daily.On March 17th, Cao Cao Mobility announced the latest progress of its Robotaxi business: the company has launched over 3,600 virtual Robotaxi pick-up and drop-off points in Hangzhous Binjiang and Xiaoshan central districts, essentially achieving full coverage of core roads, office buildings, and entrances to residential and commercial areas within the region. It is understood that Cao Cao Mobility will continue to expand its operating area in Hangzhou, further increasing the number and density of pick-up and drop-off points, and accelerating the implementation of large-scale operations.Fitch: With the ongoing conflict in Iran and the continued disruption to gas supplies from Qatar, the Asian semiconductor supply chain faces increasing tail risks of helium shortages.The Hang Seng Tech Index turned negative, with stocks related to chips, nuclear power, and power equipment among the biggest losers.March 17th - The Federal Reserve is set to release an additional $200 billion in capital to several of the largest U.S. banks for their use. In recent years, the six largest U.S. banks have set aside substantial profits to meet stricter standards proposed by former Federal Reserve Vice Chairman for Supervision Barr. Much of this upcoming $200 billion release represents funds that are no longer needed. Later this week, U.S. regulators will unveil new proposals to update and, in some respects, relax U.S. capital regulations, a move that would boost stock buybacks, lending, and trading activity. However, this carries risks: deploying this additional capital too hastily could unhealthily lead to overheating of the economy and housing market. Such a large amount of additional capital will present banks with difficult choices. Goldman Sachs, JPMorgan Chase, and Morgan Stanley have all had to reconsider whether to return billions of dollars directly to investors through stock buybacks. Given the current high stock prices, this would be costly. All large lenders should be wary of expanding their lending too rapidly, as this almost always leads to an increase in bad debts as lending standards decline.
