Market Outlook & Economic Policy - The market experienced gains for five consecutive months, defying seasonal expectations, driven by positive policy and macroeconomic factors [1] - Deregulation, particularly in crypto, and tax policy changes, including full expensing of manufacturing structures for three years, are expected to stimulate economic activity [2][3] - The effective corporate tax rate in the US is projected to be roughly 10% for the next three years, among the lowest globally, potentially leading to a productivity-driven economic boom [4][5] - The industry anticipates a shift from a rolling recession to a recovery and then a productivity-driven boom [5] Monetary Policy & Inflation - The fund's performance historically wasn't inversely correlated with interest rates [7] - Interest rates are expected to continue to decrease, and a productivity-driven boom could lead to surprisingly low inflation, potentially below 2% next year [8][9] Investment Strategies & Crypto - A barbell strategy is observed, combining equities to capitalize on lower interest rates and gold as a hedge against geopolitical uncertainty [12] - Stablecoins, particularly Tether and Circle, holding 90% of the market, are considered an important trade, providing access to the decentralized finance (DeFi) ecosystem [14][15] - The company has exposure to Bitcoin, Ether, and Solana, believing all three will play a significant role [18] - The company did not invest in Bitcoin debt, but did invest in Ether and Solana due to staking opportunities [19] ETF Dynamics & IPOs - Surges in share creations in the fund A1, ahead of IPOs like Klarna, are theorized as a strategy to gain exposure to IPO shares [23] - The company doesn't have the ability to reject trades from authorized participants, as market makers and authorized participants handle all the flows [27][28]

RT Paul Atkins (@SECPaulSAtkins)Thank you to @GUFinPolicy’s Financial Quality Markets Conference yesterday for hosting a discussion about my agenda @SECGov. Under President Trump, we’re going to Make IPOs Great Again, cement the U.S as the crypto capital of the world, and return the agency to its core mission. https://t.co/MBmGO8gFt9 ...

The Muscat Stock Exchange is preparing for as many as three IPOs in 2026 as part of a broader strategy to boost listings https://t.co/pPqp2djSDA ...

Regulatory Landscape - The SEC is considering reducing reporting burdens for public companies [1] - The SEC may consider allowing companies to report only on a semi-annual basis [1] IPO Market - There is a need to revitalize the IPO market [1]

Today in Bloomberg Deals: Brookfield's digital infrastructure ambitions, and Klarna and Netskope IPOs spur best month for US volume since 2021 https://t.co/tPMyZp9ho6 ...

Welcome back. Stocks on track for another record close. Here to share where he sees the market heading next is Chris Tumi, Morgan Stanley, managing director of private wealth management.It's good to see you back. Thanks for having me. You say good news is already priced in.Really. Like you think it's all in. No, I mean I look I think we've been positive on the market.So I think the variables that were driving performance for us were, you know, earnings breath which is continuing to look good, operating leve ...

here. Veto Sperudo is here. Veto, good to have you on.Really appreciate you joining us. Thank you very much. >> Thank you for having me.I think I'm going to bring you out to like hype me up like that every time. >> That was good, right. Let's get ready to rumble.But you would note that unfortunately I've got to temper those numbers a little bit because those numbers are for the big big deals. Are deals under a billion dollars getting any traction. >> Yeah, I mean as you noted, deals over five billion are up ...

Group 1 - The article discusses the expertise of a research firm focused on the U.S. restaurant industry, covering various segments from quick-service to fine dining [1] - The firm employs advanced financial modeling and sector-specific KPIs to identify hidden value in public equities, particularly in micro and small-cap companies [1] - The analyst has a strong academic background, holding an MBA in Controllership and Accounting Forensics, and has experience in finance and business management [1] Group 2 - The research has been featured on multiple platforms, indicating a broad reach and recognition in the industry [1] - The firm also covers related sectors such as consumer discretionary, food & beverage, and casinos & gaming, showcasing a diverse analytical approach [1] - The analyst's previous experience as a franchise partner for a regional ice cream shop adds practical insights into restaurant operations [1]

Market Position & IPOs - Hong Kong is regaining its global standing after facing challenges in recent years [1] - Hong Kong is now ahead of New York, London, and Mumbai in IPOs [1] - The Hang Seng Index is one of the best performing indices worldwide [2] Mainland China Influence - Much of the momentum comes from mainland China and Chinese companies seeking to raise capital [2] - Mainland Chinese investment into Hong Kong hits a record high this year [2] - Chinese talent is pouring into Hong Kong's job market [2] - Hong Kong has become the laboratory for much of China's experimentation, including internationalizing the use of the Renminbi [3] Economic Outlook - The city's real economy, including the property sector and retail, are still subdued [3] - The key question is whether this transformation will strengthen Hong Kong's role as an international financial capital or bind it more closely to China [3]

Regulatory Focus - The SEC aims to revitalize the IPO market [1] - Mandatory arbitration and Rule 431 are initial steps towards this goal [1]