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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Bitcoin has experienced its longest losing streak since Donald Trump's election victory, retreating from a failed attempt to reach $100,000. The digital asset dropped approximately 6% over three days, trading at $94,245 as of Tuesday morning in Singapore. Meanwhile, the broader crypto market, which gained $1 trillion since November 5, has also stalled.
The dollar has strengthened while the Mexican peso has weakened in response to Trump's tariff threats. This situation is influencing global markets and business dynamics as the election approaches, prompting widespread analysis and coverage.
Asia-Pacific markets declined as President-elect Donald Trump announced plans to impose a 10% tariff on all Chinese goods and a 25% tariff on products from Mexico and Canada starting January 20. In contrast, small-cap stocks surged, with the Russell 2000 index reaching a new all-time high, driven by expectations of favorable conditions for smaller firms under Trump's administration. Meanwhile, Japan's service producer price index rose to 2.9% in October, reflecting increased costs in postal and hotel services.
Federal Reserve Bank of Minneapolis President Neel Kashkari indicated that a further interest-rate cut is still a viable option for the central bank's December meeting. He stated that considering a 25-basis-point reduction remains a reasonable discussion among policymakers.
New Zealand's government is urging the Reserve Bank to reassess its rules that may hinder community housing providers from securing financing at favorable rates. Housing Minister Chris Bishop announced that the Minister of Finance will emphasize prioritizing the treatment of these providers in the ongoing review of standardized risk weights.
The Biden administration is proposing a $4.9 billion conditional loan guarantee for the Grain Belt Express, a high-voltage transmission line project that will run from Kansas to Missouri. This 2,500-megawatt line, developed by Invenergy LLC, aims to connect regional power networks and enhance grid reliability. However, the funding could be rescinded by the incoming Trump administration if not finalized before the January 20 inauguration.
Republicans are preparing to extend the 2017 tax cuts, which could increase the deficit by $5 trillion, according to the CBO. While some lawmakers argue that these cuts will stimulate economic growth and revenue, others express concern over the ballooning deficit and advocate for offsetting measures. The internal debate reflects a divide within the party on how to balance tax policy with fiscal responsibility.
South Koreans' economic outlook has sharply declined, with consumer expectations dropping seven points to 74 in November, marking the steepest fall since summer 2022. This decline follows the US election victory of Donald Trump and reflects growing concerns amid global interest rate hikes aimed at combating inflation.
Deutsche Bank analysts warn that stronger US growth, rising inflation, and increased interest rates under President-elect Donald Trump could lead to significant rate volatility. This shift may disrupt the current supportive credit environment and negatively impact returns, indicating a departure from the previous financial stability. The political landscape following Trump's election introduces a broader range of potential outcomes for financial markets.
Federal Reserve Bank of Chicago President Austan Goolsbee indicated that the central bank is likely to continue lowering the fed funds rate unless there is clear evidence of economic overheating. He emphasized the need for a balanced approach that neither restricts nor promotes economic activity.
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