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The yield on Japans two-year government bonds rose 1.5 basis points to 1.445%.According to the official measurement of the China Earthquake Networks Center, a 3.7-magnitude earthquake occurred in Shaya County, Aksu Prefecture, Xinjiang (41.00 degrees north latitude, 83.31 degrees east longitude) at 11:59 on July 9, with a focal depth of 22 kilometers.July 9th - The Japanese bond market is signaling declining confidence in the central banks ability to curb inflation, while government spending plans further exacerbate fiscal pressures. This week, yields on 10-year and 20-year Japanese government bonds surged to multi-decade highs as renewed concerns arose about Prime Minister Sanae Takaichis commitment to fiscal discipline and monetary policy normalization. On Wednesday, the spread between 10-year and 2-year JGB yields widened to 143 basis points, the highest level since 2004, reflecting heightened market concerns about long-term inflation and price risks, while expectations for short-term Bank of Japan rate hikes weakened. Kento Minami, senior economist at Daiwa Securities, stated, "The recent steepening of the yield curve is a warning sign from investors, indicating a gap between the risks the market is measuring and the governments fiscal and monetary policies."On July 9th, in a report titled "Investment Strategy: Going Long on Chinas AI Value Chain," Goldman Sachs analyst Louis Mille wrote, "Chinas AI industry has officially come into our view." The reason given is that "the unprecedented combination of massive government support, surging global demand, and structural capital rotation makes Chinas AI one of the most compelling growth stories in the technology sector today." Goldman Sachs presented three key points to support its investment argument: Chinese AI companies market capitalization is severely mismatched with market size, leaving ample room for valuation upside; the Chinese AI industry chain possesses unique competitive advantages that are currently undervalued by the market; and the Chinese AI sector is outperforming other Chinese assets, with funds structurally increasing their allocation.On July 9th, it was learned that XPeng Group held its first all-staff meeting for its Robotaxi business and announced the official launch of employee internal testing. He Xiaopeng stated that in the next ten years, all embodied intelligent carriers will essentially become robots. Robotaxi is a crucial step for XPeng from new energy vehicles to "robot cars," and a key piece in XPengs physical AI landscape. Based on the development trend of software and hardware integration in the AI era, XPeng will focus on vehicle platforms, autonomous driving software, and AI capabilities to become a Robotaxi software and hardware service provider serving global partners. By providing complete solutions, XPeng will promote the global deployment of Robotaxi.

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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