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The Peoples Bank of China (PBOC) announced today that it conducted 6 billion yuan of 7-day reverse repurchase operations, with a bid amount of 6 billion yuan and a winning bid amount of 6 billion yuan. The operation rate was 1.40%, unchanged from the previous rate.The yield on Japans five-year government bonds rose 2.0 basis points to 1.825%.April 22 – According to the State Post Bureau, in March, the postal industry handled 18.76 billion parcels, a year-on-year increase of 2.7%. Among them, express delivery volume reached 17.24 billion parcels, a year-on-year increase of 3.5%. From January to March, the postal industry handled a total of 51.9 billion parcels, a year-on-year increase of 4.5%. Among them, express delivery volume reached 47.73 billion parcels, a year-on-year increase of 5.8%.April 22 – According to AXIOS, citing US officials, Trumps suspension of the controversial Jones Act, a maritime law enacted during the Iran war, which facilitated the transport of oil within the United States, is something he now wants to maintain. The 1920 Jones Act, a law that increased shipping costs between US ports, required cargo to be transported by ships flying the US flag. In response to rising fuel prices due to the Iran war, Trump issued a 60-day waiver of the law on March 18 to streamline oil transport. According to data provided by the White House, since then, 40 tankers have been able to transport oil between US ports from California to Texas, Florida, and Alaska, increasing the actual available fleet size by 70% and thus helping to reduce costs.According to AXIOS: US President Trump is considering extending the exemption period for the Jones Act in order to ease restrictions on US oil transportation.

Crypto Prices Slump Over the Weekend

Skylar Shaw

May 09, 2022 09:59

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The Bitcoin market dropped over the weekend, matching the stock market's decline.


According to CoinDesk pricing, the world's biggest cryptocurrency, bitcoin, plummeted to $34,656 on Sunday afternoon, down 3.9 percent from Friday evening. Bitcoin fell below $34,000 earlier this afternoon, about half of its all-time high of $67,802 set in November.


Ethereum, the second-largest cryptocurrency, was trading at about $2,565 on Sunday afternoon, down 5.1 percent from Friday at 5 p.m. EDT.


Bitcoin and other cryptocurrencies are notorious for their wild price volatility. 


For years, individual investors dominated the market, but institutional investors, such as hedge funds and money managers, have begun to take control.


The market has become more aligned with regular markets as more professional investors trade crypto. Many institutional investors that acquire cryptocurrencies see them as high-risk investments, akin to equities in the technology sector. During periods of market turmoil, investors prefer to flee to safer areas.


Last week, the stock market fell the day after the Federal Reserve issued a half-point rate hike, the largest since 2000, to combat inflation. Additional rate hikes are possible this summer, according to Fed Chairman Jerome Powell. 


Some of the central bank's $9 trillion asset portfolio is also being unwound.


The Nasdaq Composite, which is heavily weighted in technology, fell to a 52-week low of 12144.66 on Friday. It is down 22% so far this year.


For most of 2022, cryptocurrency prices remained flat as investors braced for higher interest rates. According to CoinMarketCap, the crypto market was busy over the weekend, with $112 billion in market volume in a 24-hour period. The total value of the cryptocurrency market is currently $1.59 trillion.

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