U.S. stock index futures fell sharply amid fears of a government shutdown and shifting interest rate expectations, as Congress struggles with President Trump's spending bill. The Federal Reserve has raised its inflation forecast for 2025, contributing to market volatility.In Russia, the central bank maintained its key interest rate at 21%, surprising markets that expected a hike. This decision aims to combat inflation, currently at 9.5%, while facing criticism from business leaders who argue that high rates hinder investment in a strained economy.
A Geneva trader, Niels Troost, has been sanctioned by the EU for his involvement in Russian crude oil transactions through a Dubai subsidiary of Paramount Energy & Commodities SA, with asset freezes imposed. Troost, who denies the allegations, was previously sanctioned by the UK in February. In other news, negotiations between Switzerland and the EU are expected to conclude today, while ETH Zurich has fired professor Thomas Crowther following allegations of inappropriate behavior. Additionally, a report on the Credit Suisse crisis is set to be presented by the Parliamentary Commission of Inquiry.
Raiffeisen banking group faces significant risks due to its Russian operations and loans to René Benko's SIGNA, with potential total losses threatening its stability. The European Central Bank is closely monitoring the situation, fearing a chain reaction that could impact regional banks. Sanctions from the US and the possibility of Russian nationalization further complicate the bank's future, as it struggles to transfer trapped profits from its Russian subsidiary.
Several countries are exploring the establishment of national Bitcoin reserves, reflecting a growing trend in cryptocurrency adoption. In Japan, lawmaker Satoshi Hamada has proposed a discussion on a Bitcoin reserve, while Texas and Pennsylvania are considering similar initiatives. Brazil's government aims to allocate 5% of its international reserves to Bitcoin, and Poland's presidential candidate Sławomir Mentzen advocates for a strategic reserve and crypto-friendly regulations. Russia is also revisiting the idea of a national Bitcoin reserve amid recent legislative changes supporting digital assets.
A Japanese lawmaker, Satoshi Hamada, has proposed the creation of a national Bitcoin reserve, submitting a formal request to the National Diet. This initiative follows similar proposals from lawmakers in countries like Russia, Brazil, and the U.S., amid Bitcoin's recent surge to over $103,000. While Hamada's party holds limited seats, support from influential figures like Yuichiro Tamaki may bolster the proposal's chances.
UBS reports a decrease in the risk premium for European gas, with TTF futures dropping below €45/MWh due to stable Russian supply. European gas storage levels are at 81%, aligning with the five-year average, though 10% lower than last year. Demand rose 3% in November, driven by colder weather, while piped gas imports remained stable despite a slight decline in Russian imports amid contractual disputes.
UBS reports a reduction in the risk premium for European gas, with TTF futures dropping below €45/MWh due to stable Russian supplies. European gas storage levels are at 81%, 10% lower than last year, and demand rose 3% in November, driven by colder weather, despite remaining below historical averages.
UBS reports a decrease in the risk premium for European gas, with TTF futures dropping below €45/MWh due to stable Russian supply. European gas storage levels are at 81%, with projections indicating a winter end in the low-40% range, while demand rose 3% year-over-year in November, driven by colder weather. Piped gas imports remained stable, despite a slight decline in Russian imports amid a contractual dispute.
On December 12, a significant defense deal was signed to bolster India's military capabilities, aligning with the 'Aatmanirbhar Bharat' initiative. The stock market saw notable movements, with three NSE stocks surpassing their 200-day moving average, while Zomato faced an ₹803 crore GST demand. Additionally, the Cabinet Committee on Security approved a project for 100 K-9 Vajra howitzers, impacting L&T stocks.
Anthony Scaramucci predicts that China will reintegrate Bitcoin into its reserves and resume legal mining by 2025, reflecting a broader geopolitical shift as nations explore Bitcoin as a strategic asset. This trend is echoed by discussions in the U.S., Russia, and Brazil about establishing national Bitcoin reserves to enhance financial resilience and navigate economic pressures. As institutional interest grows, the potential for Bitcoin to play a significant role in global finance becomes increasingly apparent.
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