Group 1 - Majority of economists expect the Federal Reserve to cut interest rates by 25 basis points in September, with a total of three cuts anticipated for the year due to a weakening labor market overshadowing inflation risks [1] - Fidelity Solana ETF, Canary HBAR ETF, and Canary XRP ETF have been listed on the DTCC website as part of the standard process for launching new ETFs, though this does not indicate regulatory approval [1] - BlackRock is exploring the tokenization of ETFs, aiming to bring real-world assets onto blockchain platforms, having previously launched a $2 billion tokenized money market fund and participated in tokenization trading experiments [1] Group 2 - Ethena Labs has withdrawn from the bidding for the issuance of the Hyperliquid stablecoin USDH, citing community concerns regarding its identity and product focus, while continuing to develop other products [2] - UK industry associations have called for the inclusion of blockchain cooperation in the upcoming UK-US Tech Bridge agreement, emphasizing the strategic importance of stablecoins and tokenization for both economies [2]

Core Viewpoint - The process to replace Federal Reserve Chair Jay Powell is underway, with a long list of candidates being considered, and the urgency appears to be lessened due to anticipated Fed rate cuts [1][2][3]. Group 1: Federal Reserve Chair Replacement Process - US Treasury Secretary Scott Benson is expanding the list of candidates to replace Fed Chair Jay Powell, having met with former Fed officials [2]. - There are currently 1011 names circulating for the Fed chair position, with initial interviews beginning [2]. - The administration is taking a more methodical approach to the selection process, influenced by the current economic data suggesting a Fed rate cut [3]. Group 2: Economic Perspectives and Consumer Sentiment - The upcoming interviews for the new Fed chair may focus on how the chair could influence the Federal Reserve's approach to inflation, especially in light of recent criticisms regarding the Fed's handling of the COVID pandemic [4]. - Consumer sentiment is being closely monitored, as real-life experiences of inflation, such as a 20% increase in coffee prices, may differ from broader economic indicators [6][7]. - A recent poll indicates that 55% of Americans are not allowing tariffs to dictate their purchasing decisions, suggesting a disconnect between consumer behavior and tariff impacts [21]. Group 3: Characteristics Desired in the New Fed Chair - The administration seeks a candidate with a strong resume to gain market respect while also favoring monetary policies aligned with the president's agenda [10][11]. - There is an emphasis on appointing someone who can bring reform to the Fed and challenge its traditional independence [14]. - The administration aims to avoid past mistakes by selecting a chair who will support their policies, even if not overtly [18].

Group 1: Russian Central Bank - The Russian Central Bank announced a 100 basis point cut in its key interest rate, reducing it from 18% to 17%, which was less than the anticipated 200 basis point cut to 16% [3][7] - The decision reflects a cautious approach due to ongoing economic slowdown and inflation concerns, with a target to return annual inflation to 4.0% by 2026 [3][7] Group 2: Deutsche Lufthansa AG - Deutsche Lufthansa AG is set to implement a major internal restructuring effective January 1, 2026, establishing four "Group Function Boards" focused on Hub Management, Technology, HR, and Finance [4][7] - This restructuring aims to improve internal collaboration and overall efficiency as part of a broader strategy to enhance profitability [4][7] Group 3: China and US Trade Relations - China has expressed a willingness to engage in dialogue with the United States to improve trade and economic relations, following discussions with global financial institutions [5][7] - The People's Bank of China has introduced new performance rules for its financial partners, indicating a focus on enhancing financial oversight and stability [5][7] Group 4: Geopolitical Tensions - The Kremlin announced a temporary pause in Russia-Ukraine peace talks, claiming that European countries are obstructing efforts while maintaining openness to dialogue [6][7]

本报（chinatimes.net.cn）记者陶炜 南京报道 9月11日，人民银行江苏省分行召开新闻发布会，人民银行江苏省分行会同江苏省委金融办、江苏金融 监管局、江苏证监局等部门联合出台《扎实做好金融"五篇大文章"助力江苏经济高质量发展行动方案》 （下称"行动方案"），围绕五大专项行动，提出20条具体措施，因地制宜做好江苏金融"五篇大文章"， 助力江苏经济高质量发展。 《华夏时报》记者从采访中了解到，行动方案中多项措施为全国率先提出。例如，行动方案提出要加大 对全国高校区域技术转移转化中心（江苏）建设和发展的金融支持，构建完善"概念验证+拨投结合+基 金支持+信贷服务"的科技创新全链条支持机制。而与这条措施对应的，则是江苏省在教育部支持下建 设的全国首个高校区域技术转移转化中心，"江苏在很多措施上都是有自己特色的。"人民银行江苏省分 行信贷政策管理处处长李军对《华夏时报》记者说。 "五篇大文章"，五个专项行动 实际上，这些专项行动已经是进行时。例如，江苏省委金融办会同省有关部门在江苏省综合金融服务平 台中先后开发建设人才金融、绿色金融、蓝色金融、乡村振兴金融等多个子板块和省普惠金融发展风险 补偿基金专板，归 ...

Group 1 - The core belief among XRP proponents is that as banks adopt Ripple's blockchain technology for faster and cheaper cross-border payments, the demand for XRP will significantly increase, leading to substantial returns for investors [1][2] - The investment thesis for XRP is based on the assumption that widespread adoption of Ripple's technology by banks will inherently boost the value of XRP, as it is the native token of Ripple [2] - However, most banks can leverage Ripple's technology without needing to hold XRP, which undermines the argument for XRP's price appreciation tied to bank adoption [3][4] Group 2 - Ripple's most utilized product, RippleNet, allows banks to achieve time and cost savings without the volatility associated with holding XRP, making it a more attractive option for financial institutions [4][6] - Some banks with liquidity challenges may use Ripple's On-Demand Liquidity (ODL) service, which requires holding XRP as a bridge asset for international transfers, but this is not the norm among major financial institutions [5][6] - The theory that increased bank adoption will lead to a significant rise in XRP's price is flawed, as most institutions prefer to use RippleNet, avoiding the need for XRP altogether [7][8]

Economic Overview - The U.S. economy saw inflation acceleration in August, with a 2.9% annual headline inflation rate and a 3.1% core inflation rate, which excludes food and energy prices [2][5] - The Consumer Price Index (CPI) rose by 0.4% for the month and 2.9% over the past year, aligning with market expectations [5][6] Federal Reserve Response - Economists believe the inflation report strengthens the case for a Federal Reserve interest rate cut in September, despite some noting that the headline inflation was higher than expected [3][4] - The inflation data suggests a gradual approach to rate cuts rather than an aggressive pivot, as inflation remains above the Fed's 2% target [4] Contributing Factors to Inflation - The increase in inflation was primarily driven by the shelter index, which rose by 0.4%, along with a 0.5% increase in the food index and a 0.7% rise in the energy index, influenced by a 1.9% jump in gasoline prices [6] Market Reaction - Following the inflation report, the SPDR S&P 500 ETF Trust (SPY) rose by 0.83% to $657.63, while the Invesco QQQ Trust ETF (QQQ) increased by 0.58% to $584.08 [7]

Group 1 - U.S. CPI data indicates a firmer trend, leading analysts to adjust forecasts to +0.2% month-over-month and a steady 2.9% year-over-year, supporting the Federal Reserve's potential easing cycle with a 25 basis points cut next week [1] - The labor market data has shown a significant downward shift, prompting discussions around a more aggressive 50 basis points cut, which could maintain market momentum if supported by dissenting votes [2] - Futures markets are pricing in 71 basis points of cuts by Christmas and 125 basis points by July, suggesting expectations for multiple rate cuts in upcoming meetings [3] Group 2 - Recent bond market movements have led to a quarter-point reduction in mortgage rates, with 10-year yields decreasing approximately 20 basis points over the past two weeks, indicating a need for the Fed to signal further easing [4] - The prospect of lower U.S. borrowing costs has enhanced liquidity in Asia, driving record highs in indexes across Japan, South Korea, and Taiwan, with the Kospi rising nearly 6% for the week [5] - The U.S. dollar has remained stable against major currencies despite falling yields, with the dollar index showing only a slight decline, while the Australian dollar and Norwegian crown have reached significant highs [6] Group 3 - Key market developments to watch include speeches from Bank of Spain Governor Jose Luis Escriva and ECB policymaker Olli Rehn, along with UK GDP and manufacturing output data for July, and final readings on EU CPI [7]

Economic Indicators - Initial jobless claims for the week ended September 6 reached 263,000, marking a near four-year high [1] - U.S. consumer prices rose more than expected in August, with the annual increase in inflation being the largest in seven months [9] Federal Reserve Expectations - Atsi Sheth, Chief Credit Officer at Moody's Ratings, predicts the Federal Reserve will reduce interest rates by 25 basis points next week and another 25 basis points by year-end [2] - Futures trading indicates a strong expectation that the Fed will cut rates by at least 25 basis points at its upcoming policy meeting, with a 7% chance of a deeper 50 basis point cut [2] Stock Market Performance - The S&P 500 climbed 0.85% to close at 6,587.47 points, while the Nasdaq gained 0.72% to 22,043.08 points, and the Dow rose 1.36% to 46,108.00 points [7][9] - Tesla's stock increased by 6%, contributing to record highs for the S&P 500 and Nasdaq [5][9] - Micron Technology's shares jumped 7.5% to $150.55 after Citigroup raised its price target from $150 to $175 [6][9] - Warner Bros Discovery surged 29% following reports of a potential majority cash bid from Paramount Skydance [6][9] Sector Performance - Ten of the 11 S&P 500 sector indexes rose, with materials leading at a 2.14% increase, followed by a 1.73% gain in health care [10] - Centene's stock jumped 9% after reaffirming its annual profit forecast and meeting quality ratings expectations for its Medicare plans [10] Market Activity - Advancing issues outnumbered declining ones in the S&P 500 by a ratio of 6.8-to-one [8][10] - The S&P 500 recorded 42 new highs and 4 new lows, while the Nasdaq saw 143 new highs and 42 new lows [8][10] - Heavy trading volume on U.S. exchanges reached 18.2 billion shares, compared to an average of 16.1 billion shares over the previous 20 sessions [8][10]

Core Points - The People's Bank of China and Bank Indonesia have jointly launched a bilateral local currency settlement (LCT) framework and a cross-border QR code interoperability project [1][2] - The LCT framework aims to expand the scope of local currency settlement to all items in the balance of payments, facilitating the use of local currencies in bilateral trade and investment [1][4] - The cross-border QR code interoperability project is expected to be fully operational by 2025, utilizing local currency settlement methods [2] Summary by Sections Bilateral Local Currency Settlement Framework - The LCT framework was officially announced by the central bank governors of China and Indonesia, with a memorandum of cooperation signed in May 2025 [1][4] - The framework aims to enhance the use of local currencies in trade and investment, reflecting the deepening financial cooperation between the two countries [2][4] Cross-Border QR Code Interoperability - The cross-border QR code interoperability project is a significant advancement in payment cooperation between China and Indonesia, expected to be fully operational within 2025 [2] - This project is part of the broader efforts to deepen financial collaboration and enhance market understanding of the LCT framework [2] Financial Cooperation and Future Prospects - Both countries have agreed to establish a joint working mechanism to further institutionalize bilateral financial cooperation [3] - The ongoing financial collaboration is supported by increasing political trust and the growing economic ties between China and Indonesia [2][4]

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