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Euroclear, one of the largest European clearinghouses, argues that the trial it faced in Russia, where courts ordered it to release nearly $232 billion in blocked assets, was unfair. Euroclear fears that some of its assets in international jurisdictions might be affected. Euroclear Introduces Lawsuit Against the Central Bank of Russia in $231.5 Billion Showdown … Read more
Japan’s Nikkei 225 is on track for a 36% gain over the past three months, the sharpest quarterly advance in records going back to 1965, capping a record-setting run powered by artificial intelligence and semiconductor stocks. A Historic Quarter in Tokyo The Nikkei 225, Japan’s benchmark stock index, is closing out the quarter with a … Read more
The Japanese yen collapsed to 162.27 per U.S. dollar on June 30, its weakest level since 1986, intensifying speculation that Tokyo could step in to defend the currency for the second time this year. A Four-Decade Low The yen’s slide to a four-decade low has put Japanese authorities back on intervention watch. The currency has … Read more
Bolivia’s Economy Ministry recognized that the current regime had failed, as the country’s oil exports had been reduced since 2005, making it impossible to continue with the exchange regime. The exchange rate had been fixed in 2011 at nearly 7 Bolivian bolivianos. Bolivia Abandons Fixed Dollar Exchange Rate Regime, Opens To Flotation The Ministry of … Read more
Bank of America now expects the Federal Reserve to raise interest rates three times in 2026, reversing its earlier call for the central bank to stay on hold. The shift follows a warning that the Fed’s inflation problem has become “unambiguously worse.” A Sharp Reversal Bank of America’s economics team made the hawkish call this … Read more
According to official data from the U.S. Treasury Department, China’s stash of treasuries fell to $651.1 billion in April, the lowest level recorded since September 2008. Nonetheless, foreign ownership of U.S. debt increased during the same period, with Japan and the U.K. increasing their holdings. China Sheds US Treasuries Amid Geopolitical Uncertainty and Federal Reserve … Read more
The measure, announced by the Khatam al-Anbiya Central Headquarters, was taken in response to violations by the U.S. government of the memorandum of understanding signed to end the war. Nonetheless, reports indicate that no ground moves have been made to this end. Iran Announced Closure of the Strait of Hormuz After Lebanon Strikes The Iranian … Read more
The Cuban National Assembly passed a set of reforms that would open the Cuban system to private investment and private banks in the island’s financial system. The measure came after the Trump Administration imposed sanctions on the Cuban state oil company, Unión Cuba-Petróleo (CUPET). Cuba Backpedals On Socialism With New Economic Reforms Cuba, one of … Read more
Early projections indicate that a majority of voters rejected the so-called sustainability proposal, which aimed to establish a 10 million cap on the country’s population by 2050. Even so, 45.21% supported the initiative, even as it could risk access to European markets if passed. Swiss Reject Population Cap Initiative In Historic Referendum Switzerland has rejected … Read more
Mbridge, now under Chinese leadership, would be preparing a commercial rollout with a Hong Kong-based entity to promote the blockchain-based digital yuan as a cheaper and easier alternative to SWIFT. The platform has already settled over 470 billion yuan, nearly $69 billion. China Plans Mbridge Rollout To Push Digital Yuan China is taking major steps … Read more