EUR/USD
1.17472
0.039%
Gold
4743.65
0.501%
Oil
88.724
-1.036%
USD/JPY
159.301
-0.046%
GBP/USD
1.35172
0.074%
GBP/JPY
215.335
0.040%
Real-time News
On April 22nd, a research report from CICC stated that Federal Reserve Chairman nominee Kevin Warsh testified before the Senate Banking Committee, revealing his core policy stance of a two-pronged approach of "balance sheet reduction and interest rate cuts." At the balance sheet level, he explicitly opposed normalizing quantitative easing (QE), advocating for a gradual and orderly reduction of the Feds balance sheet size and a withdrawal from fiscal-like responsibilities, returning it to its monetary policy roots. At the interest rate level, although no explicit commitment was made, his statements indicated a tendency towards interest rate cuts. In our view, Warshs policy proposals are not only an adjustment to the monetary issuance mechanism but also an extension of the "America First" strategy under the wave of anti-globalization into the monetary field—shifting from a "global central bank" that endlessly injects liquidity globally to a new approach that firmly controls the overall money supply, focuses on domestic productivity, and emphasizes monetary sovereignty. We believe this shift means that the narrative of continued dollar liquidity flooding the market will face revision, and assets solely reliant on liquidity and benefiting from "dollar over-issuance" may come under pressure.April 22nd - According to foreign media reports, John Turner, Apples (AAPL.O) next CEO, faces a major challenge as he assumes the role: retaining top talent during a period of historic personnel change. After several years of relative calm, Apple has recently experienced a wave of departures—from executives to junior engineers. Turner, who will succeed Tim Cook as CEO in September, will be tasked with stabilizing the workforce. Late last year, the highly acclaimed chip business chief, Johnny Sruggie, told Cook that he was seriously considering leaving Apple. Apple recently retained Sruggie by offering him a new compensation package and a broader position—the companys first Chief Hardware Officer. Turner will need to address succession issues and the potential departures of other executives, including Mike Rockwell and several long-time leaders who are retiring soon.April 22 - The Ministry of Finance will issue the second tranche of RMB treasury bonds for 2026 in the Hong Kong Special Administrative Region today, with an issuance scale of RMB 15.5 billion. Specific issuance arrangements will be announced on the Hong Kong Monetary Authoritys Central Debt Instrument Clearing System.Japans merchandise exports rose 11.7% year-on-year in March, in line with expectations, while the previous figure was revised from 4.20% to 4.00%.Japans merchandise imports rose 10.9% year-on-year in March, below the expected 7.1% and the previous figure revised from 10.20% to 10.30%.
