>> WELCOME TO BLOOMBERG MARKETS. IT'S BEEN A SOMEWHAT VOLATILE DAY. HE FOUND THE TECH HEAVY INDEX GETTING A BOOST TO THE TUNE OF HALF OF 1% AND THE NASDAQ ONE HUNDRED BUT THE S&P 500 NOT SEEING THE SAME KIND OF LOVE.TRYING TO BREAK INTO THE GREEN ALL DAY BUT NOT QUITE GETTING THERE. REACHING ANOTHER RECORD HIGH AT 6300. TECH WAS REALLY THE ONLY PART OF THE INDEX GETTING ANY LOVE TODAY.THE PHILADELPHIA SEMICONDUCTOR INDEX IS RISING ABOUT 1.8%. A BIG SUMMIT GOING ON IN PENNSYLVANIA, LED BY SENATOR DAVID MCCOR ...

Trade Tensions and Tariffs - President Trump's threat of a 35% tariff on some Canadian goods and a baseline of 15-20% on other countries is causing market volatility [1][2] - China criticizes the U S over its trade policies, accusing Washington of abusing tariffs [1] - Markets appear relatively relaxed despite tariff headlines, with the S&P 500 pointing lower by two-tenths of 1% [2][3] - A 35% tariff on Canada may not be as impactful as it seems, as much of the trade is covered by the USMCA [5][10] - The market may be becoming desensitized or complacent to the massive number of tariff headlines [6] - A baseline tariff of 20% would effectively double the economic damage expected by markets and economists [14] Market Sentiment and Risk Assessment - Jamie Dimon warns that markets are complacent on Trump's tariff agenda [1][18] - Implied volatility is low, suggesting the market is not pricing in risk from extreme volatility [7] - The market's ability to "buy the dip" after sell-offs is a conundrum for investors [8][9] - Equity markets may be trading off of earnings outlook and inflation data rather than tariff threats [20][21] Federal Reserve and Inflation - The Federal Reserve (FED) officials are divided on how the tariff impact shows up and how long it will persist [27] - Jamie Dimon anticipates firmer inflation due to tariffs, giving the FED a 40-50% chance of hiking [22][23] - The FED minutes solidify that most FED members are worried about persistent inflation from tariffs [27] Geopolitical Implications - China opposes unilateral tariffs and believes ASEAN countries will resist unilateralism [32][33] - China is willing to work with Vietnam to safeguard the legitimate interests of all countries [34] - The U S and China are vying for influence in Southeast Asia [36]

Cost Savings & Synergies - The merger of the two banks will result in a lower cost base due to the elimination of redundant projects, particularly those related to digital investments at TSB [1] - Savings are expected to enable the merged entity to offer better products at lower costs to customers [1] - Cost reductions will not solely rely on job cuts or branch closures [2] Digital Transformation & Customer Behavior - Customers are increasingly adopting digital channels for banking, necessitating adjustments in the bank's operations [2] - The bank needs to adapt to the changing customer preferences for digital banking [2]

Selling TSB to Santander for nearly £2.7 billion is a no-brainer for Sabadell management, writes @PaulJDavies (via @opinion) https://t.co/yb4FWtKvB1 ...

This deal can be seen as quite an expression of confidence in the UK and the UK economy. A lot of businesses recently have been speaking out against recent tax rises on employing staff and various other measures. How optimistic are you feeling about the UK then as a result of this deal.Good morning and thank you for having me on on the programme again. We already have a very significant presence in the UK. It's our largest balance sheet in all of the countries we operate. We operate the largest balance shee ...

Start us then with the story around Santander TSB Tell us more about the deal and how significant this could be in terms of reshaping the UK's banking landscape. Yes, a significant deal in banking in the U.K., just another one in the finance space across Europe this year. Right.I mean, we've seen a lot of consolidation or potential consolidation moves in banking in different countries. And this is the last one, a very important one for Santander, because it emphasizes the importance of their growth strategy ...

Sabadell has agreed to sell its UK unit to Santander for £2.65 billion ($3.63 billion) https://t.co/Xpwa5034vo ...

Santander and Barclays are the main contenders left in the race to acquire Sabadell's TSB, sources say https://t.co/dfkmB6BCm3 ...

Core Viewpoint - South Korea's new president, Lee Jae-myung, is rapidly fulfilling campaign promises by allowing local companies to issue stablecoins through the proposed Digital Asset Basic Law, which opens a legal pathway for stablecoin issuance [1][4]. Group 1: Legislative Developments - The proposed law allows South Korean companies with a capital of 500 million KRW (approximately 368,000 USD) or more to issue stablecoins, provided they establish a reserve guarantee for redemption [1]. - This legislative move comes amid a global surge in interest in stablecoins, with the U.S. Congress preparing to vote on key stablecoin legislation and traditional banks exploring stablecoin issuance [4]. Group 2: Market Dynamics - Over one-third of South Koreans (approximately 18 million) are active in the digital asset market, with trading volumes on local exchanges sometimes exceeding those of the Kospi and Kosdaq indices [4]. - In the first quarter, the trading volume of USDT, USDC, and USDS on South Korea's five major exchanges reached 57 trillion KRW, indicating significant demand for stablecoins [4]. - In the global stablecoin market, USDT holds a 62% market share, USDC accounts for 25%, and other stablecoins make up 13% [4]. Group 3: Challenges and Concerns - The Bank of Korea has expressed strong opposition to the issuance of stablecoins by non-bank entities, warning that it could undermine the effectiveness of monetary policy [5]. - Analysts from JPMorgan have cautioned that the recent surge in KakaoPay Corp.'s stock price lacks fundamental justification, and the specific benefits of Lee's stablecoin policy remain uncertain [6]. - The collapse of TerraUSD in 2022, which resulted in losses of hundreds of billions of dollars, continues to haunt investors and raises concerns about the stability of the market [6].

Core Insights - Globant introduces AI Pods, a subscription model for AI-powered services aimed at disrupting traditional IT services [1][2] - The AI Pods are designed to provide scalable, smarter solutions with reduced time to market and lower costs [2][3] - The company emphasizes a shift from effort-based services to outcome-oriented services, leveraging its advanced AI platform, Globant Enterprise AI (GEAI) [3][6] Company Overview - Globant is a digitally native company focused on reinventing businesses through innovative technology solutions [1][5] - The company has over 31,100 employees and operates in 36 countries, serving major clients like Google and Santander [7] - Globant has been recognized as a leader in AI services and media consultation by IDC MarketScape [7] Industry Impact - The introduction of AI Pods is seen as a significant change in the IT services sector, with early implementations in finance, retail, and media showing substantial efficiency gains [4][6] - The model promotes a consumption-based pricing strategy that aligns costs with outcomes rather than efforts [6]