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Real-time News
According to The Information: OpenAI founder Sam Altman may continue to oversee research and infrastructure teams.According to The Information: OpenAI is in discussions to hire senior executives for key leadership roles.On May 8, the Hong Kong Monetary Authority responded to the Federal Reserves interest rate decision and said that in Hong Kong, the monetary and financial markets remain in orderly operation. The Hong Kong dollar exchange rate has strengthened in recent days, mainly driven by the demand for Hong Kong dollars related to stock investment and the appreciation of local currencies against the US dollar, triggering the strong side exchange guarantee of 7.75 Hong Kong dollars to 1 US dollar under the linked exchange rate system. The Hong Kong Monetary Authority buys US dollars and sells Hong Kong dollars from the market in accordance with the linked exchange rate system. The total balance of the banking system has also increased accordingly, increasing Hong Kong dollar liquidity and reducing the interbank rate. It is expected that factors such as the supply and demand of Hong Kong dollar funds and overall liquidity will continue to affect the Hong Kong dollar interbank rate, especially the interest rate of shorter terms. The Hong Kong Monetary Authority will continue to closely monitor market changes and maintain monetary and financial stability.Morgan Stanley expects the Bank of England to cut interest rates by 25 basis points at todays meeting. At least two members support a 50 basis point cut, reflecting the warming of dovish sentiment within the committee. In addition, the wording of the policy guidance is expected to change, and the "gradual" statement is expected to be deleted, paving the way for consecutive rate cuts. Morgan Stanley expects that by the end of 2025, the Bank of Englands bank rate will drop from the current 4.50% to 3.25%.On May 8, Matthias Scheiber, senior portfolio manager at Allspring Global Investments, said that the next possible interest rate cut by the Federal Reserve will not come until September or even later. He pointed out that the Fed expects to cut interest rates only twice this year, while the market expects three times. The interest rate market expects the Fed to cut interest rates to around 3.6% by the end of 2025, but much depends on how the trade-off between inflation and growth develops. Economic growth may continue to weaken, and the Federal Reserve would ideally like to cut interest rates to support economic growth-although in the short term, rising prices may make this tricky. Stock market performance is expected to continue to fluctuate and will continue to favor cheaper markets among U.S. stocks, international stocks and emerging market stocks.
