Real-time News

Iran's Islamic Revolutionary Guard Corps says it has hit a U.S. oil tanker in the northern Gulf, and the ship is currently on fire.

On March 5th, at a press briefing held by the State Council Information Office, Chen Changsheng, a member of the drafting group for the Government Work Report and deputy director of the State Council Research Office, stated that many scenarios mentioned in the report, such as biomedicine, aerospace, and the low-altitude economy, need to be opened up. These are important emerging fields that can grow into pillar industries. For example, the low-altitude economy has developed rapidly in the past two years and has already been well-utilized in some agricultural and forestry plant protection and patrol survey fields. Therefore, the next step is to accelerate the opening up of airspace resources and optimize and simplify the approval procedures for low-altitude economic flights to open up scenarios, enabling many places to utilize low-altitude logistics and urban governance. There are many other new scenarios, including service robots, which can also open up new space for private investment.

March 5th - According to Japan's Jiji Press, Japanese Economy, Trade and Industry Minister Ryosuke Akazawa urged the United Arab Emirates (UAE) on Thursday to maintain stable oil supplies despite the disruption caused by the Iranian attacks. Akazawa, meeting with his UAE counterpart, Sultan Jaber, CEO of Abu Dhabi National Oil Company, in Tokyo, called on the UAE, a major oil supplier to Japan, to play a leading role in stabilizing the oil market. Jaber responded that Japan is a highly prioritized strategic partner of the UAE, and the UAE will play its due role. However, he added that if the Strait of Hormuz, a crucial choke point for oil transport, is disrupted, then Japan will be powerless to help.

On March 5th, at a press briefing held by the State Council Information Office, Chen Changsheng, a member of the drafting group for the Government Work Report and deputy director of the State Council Research Office, stated that efforts should be made to stabilize asset prices. Maintaining the healthy development of the capital market and striving to stabilize the real estate market are crucial to further repairing the balance sheets of residents and businesses, thus facilitating investment and consumption. Reforms in key areas, particularly price reforms, are also necessary. Currently, many sectors have supply, but if the price mechanism is not functioning smoothly, the entire business model cannot operate, leading to insufficient or scarce high-quality supply, which in turn inhibits consumption.

The yield on German 30-year government bonds rose 3 basis points to 3.425% in early trading, the highest level since February 19.

March 5 – Ukrainian President Volodymyr Zelenskyy stated that the US-mediated peace talks between Russia and Ukraine, originally scheduled for this week, have been postponed indefinitely due to the Iran conflict. Zelenskyy said Wednesday evening local time, “Currently, due to the situation in Iran, the necessary signals for trilateral talks have not yet emerged. Once the security situation and the broader political environment allow us to resume trilateral diplomatic work, the relevant process will continue.” Zelenskyy had told reporters on Monday that the talks were originally scheduled for around March 5-6, which would be the fourth meeting between the two sides this year. Zelenskyy stated, “We are in contact with the United States almost every day,” adding that Kyiv is ready for new negotiations.

ECB Governing Council member Villeroy: France does not have the funds to subsidize fuel prices.

Morgan Stanley expects the European Central Bank to resume interest rate cuts in 2027, with two cuts of 25 basis points each in June and September.

ECB Governing Council member Villeroy: The situation in the Middle East has a rather negative impact on the European economy.

ECB Governing Council member Villeroy: Conflict could have an upside effect on inflation and a downside effect on growth, the extent of which depends on the duration of the situation.

ECB Governing Council member Villeroy: The dollar has strengthened and returned to its safe-haven status.

ECB Governing Council member Villeroy: There is no risk to financial stability.

ECB Governing Council member Villeroy: The duration of the war with Iran will determine the extent of its impact on prices.

ECB Governing Council member Villeroy: We are closely monitoring energy prices and markets.

On March 5th, Phillip Nova analyst Priyanka Sachdeva stated in a report that a stronger dollar is likely to continue putting pressure on gold prices. Despite the escalating conflict in the Middle East, the unexpectedly sharp rise in the dollar may have prompted some investors to take profits on gold. As energy prices rise, inflation concerns are resurfacing, while market expectations for fewer rate cuts by the Federal Reserve this year are also strengthening. She added that investors should consider factors such as the dollar's performance, the pace of gold purchases by central banks, and whether the conflict in Iran will escalate further when allocating gold.

On March 5th, Bei Chen Lin, Head of Investment Strategy for Canada at Russell Investments, stated in a report ahead of Friday's US non-farm payrolls data release that investors should consider the broader context when examining US employment data. "Job growth needs to be considered within the overall environment. With US population growth slowing to near standstill, even adding 60,000 jobs is still a healthy pace of growth." Analysts surveyed by The Wall Street Journal predicted that the US added 50,000 jobs in February, down from 130,000 in January. Lin added, "We believe a robust pace of job growth should be sufficient to stabilize the labor market and may even drive a hiring rebound in the second half of the year."

On March 5th, Eastern Time, Bridgewater Associates founder Ray Dalio reiterated his strong bullish stance on gold. He stated that in the competition between gold and Bitcoin, there is a clear winner—gold. He emphasized that gold's position is irreplaceable. Dalio recommends that individuals allocate 5% to 15% of their portfolios to gold to diversify risk during times of disaster.