Global TradFi & Macroeconomics

According to Moody's Ratings research released this week, unprecedented spending on AI infrastructure is eroding free cash flow and heightening balance-sheet risk at major hyperscalers including Microsoft, Alphabet, Amazon and Meta. The ratings firm projects capital expenditures will reach $785

China completed its first cross-border payment to Singapore using the digital yuan, with the Industrial and Commercial Bank of China's Shanghai branch and ICBC Singapore transferring approximately 10 million yuan in import shipping fees on the same day. The transaction was conducted via China's

According to ICBC Shanghai and ICBC Singapore, China completed its first cross-border payment using digital yuan on July 24, transferring approximately 10 million yuan in import shipping fees via the Digital Currency Express (CBETS) platform. The transaction involved W Company, a subsidiary of a

Morgan Stanley reiterated its Overweight rating on SpaceX (SPCX) with a $300 price target ahead of the company's lockup expiry on Aug. 6, 2026, according to analyst Adam Jonas, who described SpaceX as 'uniquely positioned across launch, connectivity, and AI.' The brokerage cited a 'disconnect'

Morgan Stanley believes SpaceX's (SPCX) fundamentals remain largely unchanged despite growing bearish sentiment, presenting an attractive entry point as the company approaches its IPO lockup expiration on August 6, 2026. Analyst Adam Jonas reiterated the firm's 'Overweight' rating and $300 price

This week, ICE UK natural gas futures climbed 9.77% to close at 152.300 pence per therm on Friday, July 24. TTF Dutch natural gas futures, the European benchmark, gained 6.84% to 62.910 euros per megawatt-hour. ICE EU carbon emission allowances futures also advanced 5.59% to 82.98 euros per

Qualcomm Inc. (QCOM) informed clients on Friday that it will increase component prices by double-digit percentages starting September, according to an official customer communication viewed by Bloomberg. The San Diego-based semiconductor giant stated it has fully exhausted its ability to absorb

Federal Reserve overnight reverse repurchase (RRP) operations fell to $675 million on Friday (July 24), with 2 counterparties participating, down from $904 million on the previous trading day.

Memory stocks including Micron Technology Inc. (MU), SK Hynix Inc. (SKHY), Seagate Technology Holdings (STX), and Western Digital Corp. (WDC) fell on Friday, declining between 3% and 7%. The Roundhill Memory ETF (DRAM) was down nearly 7%, while the iShares Semiconductor ETF (SOXX) dropped over 2%.

According to Evercore's Senior Managing Director Amit Daryanani, memory stocks including Micron Technology, SK Hynix, Seagate Technology, and Western Digital fell between 3% and 7% on Friday. The Roundhill Memory ETF (DRAM) declined nearly 7% during the same session. Daryanani told CNBC that the

U.S. oil rig count fell to 587 for the week of July 24, down from 588 in the prior week.

S&P Global released July preliminary purchasing managers' index (PMI) data on July 24 (local time), showing US service sector activity expanded to an 8-month high of 53.6 while manufacturing sector activity slowed to a 4-month low of 53.8. The service PMI rose 2.4 points from June's 51.2, while manu

U.S. natural gas rig count rose to 127 in the week ending July 24, up one from the prior week's 126.

U.S. oil drilling rigs totaled 450 in the week ended July 24, down from 452 in the prior week.

According to S&P Global, on July 24, the U.S. services sector PMI preliminary reading for July came in at 53.6, up 2.4 points from June's 51.2 and marking the strongest level in eight months. Manufacturing PMI, meanwhile, fell to 53.8, down 0.1 points month-over-month and the lowest in four months.

According to Jin10, ECB Chief Economist Philip Lane stated on July 24 that the central bank will reassess and may adjust its policy stance in September based on economic data. Lane noted that September will be a key decision point, with policy adjustments largely dependent on whether oil and gas

According to LME, copper futures closed up $50 at $13,645/ton, while tin surged $455 to $53,781/ton. Nickel gained $146 to $17,379/ton, and aluminum fell $28 to $3,160/ton. Zinc rose $6 to $3,592/ton, lead dropped $6 to $1,887/ton, and cobalt closed flat at $56,290/ton.

BlackRock, Coinbase, and seven other major companies have formed the Bitcoin Security Consortium to address long-term Bitcoin security challenges. The consortium will donate $15 million over three years, focusing on post-quantum cryptography research to counter potential quantum computing threats. B

According to Japan's Cabinet Office, the government released its FY2026 (April 2026–March 2027) economic report on July 24, citing multiple recovery challenges. The report attributed input inflation pressures partly to Middle East tensions, which have driven up international oil prices and raised co

On Friday (July 24), German 2-year bond yields fell 5.6 basis points to 2.829% as markets tracked oil price weakness. The 10-year bund declined 3.0 basis points to 3.172%. Across the eurozone, French, Italian, Spanish, and Greek 10-year yields rose 4.2–5.0 basis points on the week, trading