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July 29th - UK government bond yields rose as renewed fighting between the US and Iran led to higher oil prices and heightened inflation concerns. On Tuesday, Iran launched a missile attack on US forces in Jordan; simultaneously, US and Saudi forces launched strikes against Iranian-backed militias in Iraq. As a result, Tradeweb data shows that the yield on 10-year UK government bonds rose 1.2 basis points to 4.969%. Investors are currently awaiting the Federal Reserves interest rate decision later today, as well as the Bank of Englands interest rate decision on Thursday.On July 29th, Commerzbank economist Antje Praefcke stated in a report that the dollar could fall if the Federal Reserve prompts the market to reduce its expectations for a rate hike later this year. A Fed statement or Fed Chairman Warshs press conference might suggest that the bank believes inflation risks are manageable and temporary. Given the recent decline in energy prices and lower-than-expected June inflation data, Warsh is unlikely to adopt an extremely "tightening" stance in support of policy tightening. Therefore, upward pressure on the dollar driven by rising rate hike expectations is also unlikely.July 29th - Gina Kim, Emerging Markets Equity Portfolio Manager at Nordea Asset Management in Singapore: Given that the core argument remains valid, the current sell-off in the South Korean stock market appears to have irrational, panic-driven elements, primarily concentrated in AI-related technology stocks. Some of the sell-off can be reasonably explained – for example, risk aversion ahead of the summer holidays, margin requirements, and recent news reports regarding the sustainability of AI capital expenditures. We have reduced some of our larger technology stock holdings due to single-stock limitations rather than fundamental reasons.On Wednesday, July 29, the Shanghai Gold Exchanges gold T+D contract closed down 0.08% at 881.8 yuan/gram; the Shanghai Gold Exchanges silver T+D contract closed up 1.5% at 14219.0 yuan/kilogram.On July 29th, in response to reports that it planned to raise 2 billion to 3 billion yuan in its first round of external financing, OceanBase stated that the company is fully committed to data technology and product innovation in the AI era and will continue to maintain open communication with the capital market. However, OceanBase did not provide further details regarding the financing scale, the investment institutions it is in talks with, or specific progress.

Owning Government Officials From Working on Regulation

Cory Russell

Jul 07, 2022 16:31

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Government personnel who actively engage in cryptocurrencies or are discovered to be in possession of any are prohibited from taking part in the creation of legislation and policies pertaining to cryptocurrencies, according to a recent directive from the US Office of Government Ethics.

With Some Exceptions

Additionally, the advisory notice made clear that even if the restriction is in effect, it only does so with a de minimis exception.


Owners are still able to invest in cryptocurrencies via publicly listed shares and mutual funds of businesses offering cryptocurrency and blockchain services because to this exception. Stablecoins and all other forms of cryptocurrency are included.


Government personnel are still permitted to acquire cryptocurrencies; but, doing so will prevent them from contributing to the development of crypto-related regulations.


They may still work on such initiatives, however, provided they divert their cryptocurrency holdings into other financial opportunities.


The notification went on to further describe the situation, saying "An employee may not engage in a specific topic if the employee understands that particular item might have a direct and predictable influence on the value of their cryptocurrency or stablecoins."


However, even for those who are permitted to invest in cryptocurrency-related stock index listings, a $50k threshold has been imposed over which the de minimis exemption is no longer applicable.

Crypto investors suffer a loss

The cryptocurrency market isn't in the greatest of health right now, even if the Biden administration is concentrating on creating laws for cryptocurrencies after the POTUS issued an executive order for the same.


The continued bearishness is having an impact on cryptocurrency firms as the overall market value of all cryptocurrencies is struggling to reach $1 trillion.


Voyager Digital has filed for Chapter 11 bankruptcy a week after stopping the platform's withdrawal, trading, and deposit services after Harmony almost went bankrupt a while back.


Thus, even without the US GOE's decision, it would only have taken these investors a little longer to leave the market, similar to how many other investors are already doing.

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