Global TradFi & Macroeconomics

I. Headline Narrative: “Revalidation” of mRNA Vaccines Ignites a Biotech Revaluation Rally The biggest narrative in global markets this week was that the Phase III clinical trial of the mRNA melanoma vaccine jointly developed by Moderna and Merck reached its primary endpoint. When combined with Keytruda, the vaccine significantly reduced the risks of recurrence and metastasis. This marks the second major validation of the mRNA technology platform after COVID-19 vaccines, and its significance ext

Brent crude oil reached $92 per barrel today, up 0.32% in intraday trading.

South Korea's Deputy Governor of the Central Bank stated recently that the Korean won exchange rate will fundamentally face a downward trend.

Grain Management has requested preliminary offers by the first week of September for 800 MHz spectrum licenses recently acquired from T-Mobile, with AST SpaceMobile (ASTS) and SpaceX (SPCX) reportedly emerging as potential bidders. The licenses cover 3,224 counties spanning nearly the entire U.S. po

According to CoinDesk, macro strategist Mark Connors said the U.S. Treasury's planned long-term bond repurchases—potentially reaching $100-300 billion monthly—could become a key catalyst for Bitcoin, easing macro pressures that have weighed on crypto markets. The development prompted Connors to

According to BlockBeats, on August 21, legendary investor Stanley Druckenmiller has significantly increased his holdings in the Invesco S&P 500 Equal Weight ETF (RSP), signaling a bet that market breadth in U.S. equities is expanding. Unlike the traditional cap-weighted S&P 500 index, RSP

Bitcoin and Korean crypto-related stocks surged on local time as Bitcoin reached $72,812, marking a 6.2% gain in 24 hours. The rally followed Trump's call for expedited passage of the CLARITY Act, which would classify sufficiently decentralized cryptocurrencies as digital commodities under CFTC

According to BlockBeats, on August 21, Federal Reserve officials downplayed concerns that damage to policy credibility was driving the sharp Treasury sell-off, which pushed long-term yields to their highest level since 2007. San Francisco Fed President Beth Hardin and St. Louis Fed President

Bitcoin rebounded further to $73,783 on Friday, August 21, surging from Wednesday’s low of below $65,000. On August 19, the U.S. Treasury announced an expansion of buybacks for 10- to 30-year Treasury bonds. After the announcement, long-term yields fell and the dollar weakened, making interest-bearing government bonds less attractive relative to stocks, gold, and cryptocurrencies. Policy Details of the U.S. Treasury’s Expanded Treasury Buybacks On August 19, the U.S. Treasury announced that it w

According to Robinhood CEO Vlad Tenev in a CNBC interview, the company launched its own blockchain approximately one month ago with 190 tokenized U.S. stocks now live. The platform supports 24/7 trading and operates across 120 countries, allowing users to transfer stocks on-chain like Bitcoin. Tenev

According to Korea Exchange, Kakao fell 6.2% to 36,300 Korean won on August 21, 9:54 a.m., amid reports of potential governance restructuring and holding company conversion. The company is scheduled to hold a town hall meeting with employees on the same day, though specific agenda details have not

Taiwan's Weighted Stock Index opened with little change today (August 21), trading at 44,923.34 points.

On August 21 morning session, Shanghai Gold Exchange gold T+D rose 1.02% to 976.38 yuan per gram, while silver T+D climbed 2.1% to 16,506 yuan per kilogram.

According to Jin10, on August 20, China's Ministry of Finance successfully issued 6 billion yuan in renminbi-denominated bonds in Macau's over-the-counter market targeting professional investors. The issuance received significant demand, with total subscriptions reaching 385.91 billion yuan,

According to The Kobeissi Letter, the U.S. storage chip ETF DRAM received approximately $12 billion in net inflows over the past two months, bringing its assets under management to a record $28 billion despite a 28% decline in fund price. The ETF has recorded inflows for eight consecutive weeks

Seoul's bond market showed cautious trading on the 21st amid rising international oil prices and risk appetite sentiment. US Treasury Secretary Scott Bessent announced Iran sanctions details will be released on the 24th, stating the US will pressure third countries by telling them 'you are either wi

Three KOSDAQ-listed companies — Bioport, HPO, and Hyronic — reported record-breaking half-year financial results in 2026 while executing aggressive shareholder return programs, yet their stock valuations remain significantly below industry averages. Despite consistent profit growth and share

According to Jin10 Futures, fuel oil trading sentiment improved on August 21 as crude oil climbed on a staircase pattern. Refiners showed increased confidence in holding prices, with sellers reluctant to offer at lower levels, while downstream buyers gradually increased inquiries focused on

According to Jin10 Futures, as of 08:45 on August 21, China's CFETS-NEX money market sentiment index rose to 56, up 5 points from 4 p.m. yesterday. Among institution types, large banks reported 55 (up 5 points), mid-sized and small banks 58 (up 6 points), and non-bank institutions 54 (up 4 points).