News
A digital euro is coming. Here's what you need to know
The European Central Bank is tasked with securing the nuts and bolts of the digital euro, which it says could complement cash and be launched as soon as 2027. "With the digital euro, people will be able to pay in ‘public money’. Uniquely, they will be able to pay both online and offline," Valdis Dombrovskis, the Commission's Executive Vice-President said during a press conference, according to Euronews. The digital currency would be stored in a digital wallet and could be used for online and offline payments, meaning they could be made from device to device without an internet connection, such as from a remote area or an underground car park.
The Stock Market is Doing So Well That We May Need to Start Worrying
Presently, the US stock market traders demonstrate an exceptional degree of fearlessness, prompting some strategists to brace for the possibility of a selloff. As of this year, the S&P 500 Index has experienced a substantial 19% increase, encouraging investors to actively engage in the market. In fact, traders' stock exposure has reached historically high levels, ranking in the top 28% of all recorded time, as indicated by Deutsche Bank's analysis of rules-based and discretionary strategies dating back to 2010.
US Downgrade Hits Muni Market as Fitch Cuts Billions of Debt
Fitch Ratings downgraded billions of dollars worth of public finance credits that are linked to the rating company’s landmark decision to strip US government debt of its AAA status. Thursday’s move lowers the credit ratings of the local debt by one notch to AA+, the second-highest ranking, according to Fitch. The cut affects $21.5 billion of the federally-owned Tennessee Valley Authority’s global power bonds.
Gold demand shines backed by policies, revived consumption
China's gold demand is likely to pick up in the second half, fueled by the implementation of stimulus policies that aim at reviving consumption and growing interest from investors who seek safe-haven assets, said experts. Wang Lixin, CEO of the World Gold Council (China), said the second half is the traditional peak season for holiday-related gold jewelry consumption, which is likely to drive up demand. The introduction of various economic stimuli with a focus on consumption may also contribute to growth.
From Joe
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