Global TradFi & Macroeconomics

According to market pricing data, the U.S. 2-year Treasury yield surged over 80 basis points to 4.2063% this week, exceeding the Federal Reserve's current 3.5%-3.75% policy rate band. The jump signals financial conditions are tightening sharply. Historically, the 2-year yield has led actual rate hi

According to preliminary Q4 results disclosed on July 21, Supermicro reported new orders surpassing $60 billion with gross margins significantly exceeding expectations. The AI server manufacturer's stock surged 17% in after-hours trading. Dell rose approximately 5% and Hewlett Packard Enterprise

According to Odaily, ship traffic through the Hormuz Strait fell nearly 50% to 127 vessels during the week ended July 19, down from 248 vessels the previous week, amid escalating U.S.-Iran tensions. Brent crude declined to $91.26 per

According to an analysis by Seoul Economic Daily based on investment portfolios of 25,000 high-net-worth individuals (with over 10 billion Korean won in financial assets), wealthy investors in South Korea actively purchased leveraged single-stock ETFs linked to Samsung Electronics and SK Hynix

Bitcoin recovered to the $66,000 level on the 21st (US local time), reaching a one-month high of $66,100 during trading as bargain buying inflows strengthened the cryptocurrency. The rally came as the Asian semiconductor stock selloff that had pressured crypto markets the previous week eased, with t

Korea Midland Power (KOMIPO) successfully issued a $300 million Eurobond (RegS format) following a bookbuilding process conducted the previous day across Asia and Europe. The state-owned power generation subsidiary raised funds through a climate transition finance bond, achieving a final spread

Bank of China Seoul Branch applied to South Korean financial authorities on the previous day for a financial investment business license to trade government bonds. The application seeks investment trading authorization (excluding underwriting) for government bonds, local bonds, and special bonds,

According to Yonhapinfomax, on July 22, the USD-KRW one-month NDF rose to 1,482 won (mid-point), up 9.4 won from the previous day's spot close of 1,473.40 won. The U.S. dollar index climbed above 101 following remarks by President Trump indicating unwillingness to engage with Iran, while Middle

According to CoinDesk, on July 21, Bitcoin rallied to $66,100 intraday, marking its highest level in one month, gaining 1% daily and 5% weekly. Ethereum surged 3% to $1,922 in 24 hours and 8% over the week. XRP climbed 3% to $1.13, while Solana rose 2% to $78. U.S. spot Bitcoin ETFs saw inflows

According to the investment banking industry, Korea Midland Power (KMPCO) successfully issued $300 million in climate transition finance bonds yesterday (July 20). The three-year fixed-rate tranche was priced at 55 basis points above comparable U.S. Treasury yields, achieving a 30 bp tightening

According to Yonhap Infomax, Bank of China's Seoul branch applied on July 21 for financial investment business licensing to conduct Korean government bond trading. The move comes as South Korea's government bonds were included in the World Government Bond Index, attracting increased foreign

According to Yonhap Infomax, 3M's stock rose 7.32% to $170.76 on July 21. The company reported adjusted second-quarter earnings per share of $2.40, beating the consensus estimate of $2.25, while adjusted operating margins improved to 24.9%. 3M raised its full-year adjusted EPS guidance to $8.80-$8.

Axiom Biosciences, a San Diego-based developer of regenerative and genetic medicines, plans to go public in Hong Kong in 2027, followed by a secondary U.S. listing in 2029. The company's CEO Remo Moomiaie-Qajar told CNBC the move will open the door to biotech-focused investors while bringing the

According to CNBC, Axiom Biosciences, a San Diego-based developer of regenerative and genetic medicines, plans to go public in Hong Kong in 2027, followed by a secondary U.S. listing in 2029. CEO Remo Moomiaie-Qajar said the move will access sophisticated biotech-focused investors and bring the

Satsuma Technology shareholders voted 90.6% on July 21 to wind down the company and sell its 668 bitcoin holdings. The liquidation plan calls for disposing of bitcoin assets, settling liabilities, and distributing remaining proceeds to shareholders, with a London Stock Exchange delisting targeted ar

According to BlockBeats, on July 22, U.S. optical communications stocks surged across the board, with the pure photonics ETF FOTO up over 9%. Coherent rose over 11%, while Lumentum and Ciena climbed over 9% and near 8%, respectively, according to BIT exchange

Japan's seasonally adjusted merchandise trade balance in June showed a deficit of 881.9 billion yen, worse than the forecasted deficit of 502.1 billion yen and significantly larger than the prior month's deficit of 90.4 billion yen.

According to Japan's Finance Ministry, Japan's exports in June grew 13 percent year-over-year to the United States, 20.3 percent to the European Union, and 22.7 percent to Asia.

According to Japan's Ministry of Finance, the country's crude oil imports in June declined 13.7% year-on-year. Liquefied natural gas imports increased 6.2% year-on-year, reaching 4.718 million tons.

The USD-KRW exchange rate climbed to 1,482.00 won as of 6am on July 22, rising 8.60 won from the previous Seoul market close of 1,473.40 won, driven by escalating Middle East geopolitical risks and a sharp depreciation in the Japanese yen. Oil prices surged over 2% as US President Donald Trump