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August 2nd - Data shows that in July, Shanghai saw 2,796 transactions of commercial residential properties (excluding affordable housing), with new residential prices rising 0.96% month-on-month, ranking first in the country. Shanghais land auction market has also maintained high activity this year, with four plots seeing premium rates exceeding 35%. Industry insiders say that the high premiums for core plots highlight the long-term value of Shanghais core areas, and the hot land market is expected to further boost homebuyers confidence. In July, Shenzhens housing market also continued its active spring trend. Data from the Shenzhen Municipal Housing and Construction Bureau shows that in July, Shenzhens new commercial residential property sales reached 3,529 units, a year-on-year increase of 32.7%; second-hand residential property sales reached 4,795 units, a year-on-year increase of 3%, accounting for about 60% of total commercial residential property transactions. From January to July this year, nearly 6,978 new and second-hand commercial apartments were sold in the city, a year-on-year increase of 60.6%.1. Monday: ① Data: Chinas July RatingDog Manufacturing PMI; Switzerlands July CPI (MoM); Frances July Manufacturing PMI (Final); Germanys July Manufacturing PMI (Final); Eurozones July Manufacturing PMI (Final); UKs July Manufacturing PMI (Final); US July S&P Global Manufacturing PMI (Final); US July ISM Manufacturing PMI; US June Construction Spending (MoM). ② Holiday: Toronto Stock Exchange closed. 2. Tuesday: ① Data: US June Trade Balance; US June JOLTs Job Openings; US June Factory Orders (MoM). ② Event: FMS 2026 Flash Memory Summit held August 4-6, attended by storage giants such as Samsung and SK. 3. Wednesday: ① Data: US API crude oil inventories for the week ending July 31; Chinas July RatingDog Services PMI; Frances June industrial production month-on-month; Frances July services PMI final reading; Germanys July services PMI final reading; Eurozones July services PMI final reading; UKs July services PMI final reading; Eurozones June PPI month-on-month; US July ADP employment change; US July S&P Global Services PMI final reading; US July ISM Non-Manufacturing PMI; US EIA crude oil inventories for the week ending July 31; US EIA Cushing, Oklahoma crude oil inventories for the week ending July 31; US EIA Strategic Petroleum Reserves for the week ending July 31. ② Events: Saudi Aramco releases its official crude oil prices around the 5th of each month. ③ Earnings Reports: AMD, SpaceX (Tuesday after US stock market close). 4. Thursday: ① Data: Switzerlands July seasonally adjusted unemployment rate; Eurozones June retail sales month-on-month; US July Challenger job cuts; US initial jobless claims for the week ending August 1; US July global supply chain stress index; US June wholesale sales month-on-month; US EIA natural gas storage for the week ending July 31. ② Event: SoftBank Group releases its Q1 2026 earnings report. 5. Friday: ① Data: Frances Q2 ILO unemployment rate; Germanys June seasonally adjusted industrial production month-on-month; Germanys June seasonally adjusted trade balance; UKs July Halifax seasonally adjusted house price index month-on-month; Frances June trade balance; Switzerlands July consumer confidence index; Canadas July employment change; US July unemployment rate; US July seasonally adjusted non-farm payrolls; US July average hourly earnings year-on-year; US July average hourly earnings month-on-month; US July New York Fed 1-year inflation expectations; Chinas July trade balance in US dollars; Chinas July foreign exchange reserves; Chinas July trade balance. ② Events: 2028 FOMC voting member and St. Louis Fed President Musaleem speaks on the US economy and monetary policy; 2027 FOMC voting member and Richmond Fed President Barkin speaks. 6. Saturday: ① Data: Total number of US oil rigs for the week ending August 7. 7. Sunday: ① Data: Chinas July CPI year-on-year rate.On August 2nd, Abdullah Bandar al-Etabi, Assistant Professor of International Affairs at Qatar University, stated that it is too early to judge the direction of the situation following Trumps latest statement regarding Iran. In this game, neither side has shown any sign of backing down on their respective positions. Taking the Strait of Hormuz as an example, Iran has not softened its stance, and the threat of a wider conflict remains. However, the latest developments have bought more time for diplomacy. There is now more time for Iran to cooperate with regional countries to reach some kind of arrangement on the Strait of Hormuz issue and get diplomacy back on track.On August 2nd, the Department of Urban Construction of the Ministry of Housing and Urban-Rural Development held a special meeting with relevant provincial and municipal officials to discuss the prevention of gas safety accidents. The meeting emphasized that gas safety is a matter of vital interest to the people, and the accidents exposed significant weaknesses in the gas safety work of the relevant provinces and cities. The relevant provinces and cities must learn profound lessons from these accidents, draw inferences from one instance to others, and take targeted measures to improve their local gas safety management. The meeting also required that relevant provinces and cities comprehensively strengthen the special campaign to rectify urban gas safety, expedite the implementation of systems such as bottled liquefied petroleum gas delivery to households and on-site safety inspections, and accelerate the elimination of safety hazards related to cylinders, pipes, stoves, and valves at the user end. They should continue to leverage the role of the special task force for urban gas safety rectification, further promote the comprehensive rectification of the entire gas safety "one-stop" service, and accelerate the establishment and improvement of a long-term mechanism for gas safety management.The OPEC+ Joint Ministerial Monitoring Committee (JMMC) has expressed concern over attacks on energy infrastructure.

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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