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On May 13, the research report pointed out that at the multi-department press conference held by the State Council Information Office on May 7, 2025, the "double reduction" was implemented beyond expectations, reflecting the care of the market by the moderately loose monetary policy. Looking back at the two "double reductions" since 2020, the issuance of local government bonds has ushered in a significant increase in volume after the "double reductions". The liquidity released in advance by the "double reductions" has also smoothed the impact of the subsequent increase in local government bond supply to a certain extent. As for this year, the issuance of new local government bonds is still relatively slow, and there is still a large amount to be released in the future. Referring to the past experience of issuing local government bonds after the "double reductions", we expect that the issuance scale of new special bonds in the second and third quarters is expected to exceed one trillion yuan, and the annual issuance quota can be basically completed before the third quarter.Japans 5-year government bond yield rose 9 basis points to 1%.Summary of Bank of Japan meeting opinions: One member said that if the global supply chain is disrupted, it is necessary to be vigilant about the risk of price increases. One member said that in the long run, the US tariff policy and the resulting uncertainty may not affect Japans potential inflation rate and potential growth rate.Summary of opinions from the Bank of Japan meeting: One member said that the direction of U.S. trade policy could turn positive or negative at any time, which also means that the Bank of Japans policy path could change at any time.Summary of opinions from the Bank of Japan meeting: One member said that the Bank of Japan will temporarily suspend interest rate hikes, but should not fall into excessive pessimism and must guide monetary policy flexibly and skillfully; one member said that there is little possibility of a slowdown in Japans underlying inflation.

El Salvador Buys The Dip With 80 More BTC

Jimmy Khan

Jul 01, 2022 14:15

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El Salvador's mysterious president Nayib Bukele tweeted on July 1 that his nation has purchased a further 80 BTC for almost $19,000 apiece before concluding, "Bitcoin is the future." The transaction would have cost around $1.52 million in total.


The Central American nation now has a total of 2,381 bitcoins, which lowers the dollar cost average price.


Early in May, Nayib made the prior acquisition of 500 BTC for $15 million. But back then, the asset was valued at around $32,000.


Beginning in September 2021, when it acquired 200 BTC, Holdings in The Red El Salvador started contributing Bitcoin to its treasury. However, the item was suddenly trading for more over $50,000. The next seven transactions that year, along with one in January, totaled an additional 410 BTC for an average cost of around $36,500.


The entire amount of El Salvador's Bitcoin holdings is presently $46.7 million, but the Nayib tracker (which hasn't yet included this most recent purchase) shows that the nation has lost around 55% of its investment capital. If sold, it would suffer a loss of around $58 million. Given that he just strengthened his stance on the asset, it is obvious that Nayib Bukele has no intention of selling.


Alejandro Zelaya, El Salvador's minister of finance, said in May that the amount of BTC the nation had at the time was less than 0.5 percent of its yearly budget. It created a "very minor" danger to the nation's financial situation, he said.


Economic growth in El Salvador has decreased, according to a CNBC piece published last week. The nation's debt-to-GDP ratio, which measures how much a country owes compared to how much it produces, will reach 87 percent this year, and its deficit continues to be large.


The boost in tourism, which has increased by 30% since Bitcoin was approved in September, is one benefit of Bukele's Bitcoin experiment. Additionally, Bukele's popularity ratings have increased to just around 85%. He is up for reelection in 2024, and if Bitcoin markets are still bullish by then, his position is all but secured.


El Salvador has followed software company MicroStrategy, which this week also added 480 BTC to its stockpile by purchasing additional Bitcoin.

BTC Falls under $19K

During the Friday morning Asian trading session, bitcoin prices fell to an intraday low of $18,782. But it rapidly bounced back, reaching $20,280 at the time of writing.


Although the asset has been range-bound for the previous two weeks, it has lost more than 36% of its value in that time. Since reaching an all-time high of $69,000 in November 2021, the price of bitcoin has decreased by 70%.


As the bears continue to control the markets, the fear and greed index is buried in the "severe fear" zone.

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