Core Insights - The global financial system is under significant strain due to unprecedented and unsustainable debt levels, leading to a situation where paper currencies are losing value [2][4][12] - The U.S. dollar, once a dominant global currency, is facing declining trust and demand, particularly as debt levels rise to $38 trillion and the debt-to-GDP ratio reaches 124% [12][14][15] - The trend of de-dollarization is gaining momentum, with countries like China moving away from U.S. Treasuries in favor of gold, indicating a shift in global financial dynamics [29][41] Economic Environment - The U.S. markets experienced a downturn in 2025, with significant stock buybacks amounting to $1.3 trillion, indicating manipulation of share prices by corporate insiders [25][26] - The private credit market is showing signs of distress, with a high level of risk associated with off-balance sheet debt and subprime borrowers [21][22] - The Federal Reserve's attempts to maintain bond market stability through rate cuts may not be effective, as rising bond yields pose a challenge to the U.S. government's ability to manage its debt [28][32] Precious Metals Outlook - Gold and silver are expected to continue their upward trajectory as they serve as a hedge against the declining value of paper currencies [36][42][48] - The demand for gold is increasing among central banks and commercial banks as a strategic reserve asset in anticipation of future financial instability [47] - The long-term trend indicates that paper currencies will continue to be debased, reinforcing the value of precious metals as a store of wealth [44][45][49]

Speaking to ET Now as part of an Outlook 2026 interaction, Arora said investors should worry only after markets have delivered meaningful gains. “We worry about weak markets, not strong markets. Strong markets are meant to be enjoyed,” he said, adding that equity investing is inherently cyclical, with phases of inflows and pauses repeating over time.Markets need a rally before allocation concerns ariseArora dismissed the idea that sustained “Equities are not fixed deposits. There will be phases where marke ...

Core Viewpoint - The U.S. dollar is facing significant challenges that may lead to a "controlled decline" in its dominance as the primary global reserve currency by 2026, influenced by structural headwinds such as fiscal deficits and the rise of digital assets [1][2]. Group 1: Dollar's Global Position - The dollar's share of global reserves has decreased from 72% in 1999 to approximately 57% today, indicating a potential shift in its status [2]. - Analysts suggest that the dollar's era of effortless strength may be over, with concerns about its safe-haven status due to fiscal imbalances [2]. - Predictions indicate that the dollar may be lower in value by 2026, with estimates of a 20-30% decline over the next five years [2]. Group 2: Market Sentiment and Forecasts - J.P. Morgan holds a "net bearish" outlook for the dollar in 2026, citing a Federal Reserve focused on labor market softness [3]. - Morgan Stanley presents a contrasting view, forecasting a potential drop in the dollar index to 94 in Q2 2026, followed by a recovery to 100 by year-end [3][4]. - J.P. Morgan anticipates the Euro could rise to 1.20 by December 2026, supported by Eurozone growth and fiscal expansion [4]. Group 3: Digital Assets as a Threat - The emergence of digital assets, particularly stablecoins, poses a new structural threat to the dollar's dominance, with the GENIUS Act expected to establish a regulatory framework for stablecoins by 2025 [5]. - Stablecoins are seen as a significant upgrade in how money moves, offering faster and more transparent alternatives to traditional systems [5]. - The shift towards "on-chain" capital formation is projected to reach $100 trillion in five years, indicating a diversification away from traditional banking [6]. Group 4: Current Dollar Index Performance - As of the article's publication, the U.S. Dollar Index was down 0.05% at 97.9840, reflecting a year-to-date decline of 9.70% but a 1.29% increase over the last six months [6]. - Various ETFs tracking the dollar index have shown mixed performance, with some funds experiencing significant declines [7][8].

Happy New Year, from all your friends at Fortune. As you know, New Year’s Day has fallen on a Thursday for 2026, which means banks, government offices, and postal services will be closed across North America while many retailers, restaurants, and attractions will either modify their schedules or open up completely.​The most direct impact is on federal services. Non-essential federal offices are closed, according to the U.S. Office of Personnel Management. This includes Social Security Administration field o ...

Core Viewpoint - The Law Offices of Howard G. Smith is announcing a class action lawsuit against SLM Corporation (Sallie Mae) for securities fraud, inviting investors who have suffered significant losses to participate in the lawsuit [1][2]. Group 1: Lawsuit Details - The lawsuit alleges that between July 25, 2025, and August 14, 2025, SLM Corporation failed to disclose a significant increase in early-stage delinquencies [3]. - It is claimed that SLM overstated the effectiveness of its loss mitigation and loan modification programs, as well as the overall stability of its PEL delinquency rates [3]. - The lawsuit argues that the positive statements made by SLM regarding its business operations and prospects were materially misleading and lacked a reasonable basis during the relevant time period [3].

The dollar index (DXY00) rallied to a 1-week high on Wednesday and finished up by +0.07%.  The dollar moved higher on Wednesday as T-note yields rose after weekly US unemployment claims unexpectedly fell to a 1-month low, a hawkish factor for Fed policy. Also, the weakness in stocks on Wednesday boosted some liquidity demand for the dollar. Questions about the Fed's independence are limiting gains in the dollar after President Trump said Monday evening that he "still might" fire Fed Chair Powell.  Also, ...

Core Insights - The crypto industry has gained significant political influence in 2023, raising concerns about potential backlash and new adversaries by 2026 [1] - Wall Street may emerge as a key opponent to the crypto sector, particularly in light of recent regulatory developments [2] Group 1: Wall Street's Position - Citadel Securities, a major Wall Street player, has expressed strong opposition to regulatory exemptions for the crypto industry, warning that such actions could undermine investor protections [3] - Traditional finance entities, including Nasdaq, are also urging the SEC to reconsider granting key exemptions to the crypto sector [4] Group 2: Legal Challenges - The DeFi Education Fund's executive director anticipates that traditional finance giants will likely pursue legal action against the crypto industry due to its recent regulatory successes [4] - The banking lobby has actively opposed certain provisions in crypto-related legislation, although the GENIUS Act passed Congress despite their efforts [5] Group 3: Internal Dynamics - The crypto industry has already successfully countered traditional finance's opposition this year, indicating its growing political clout [5] - There is a division within Wall Street regarding crypto, with some players recognizing the technology's potential to reduce costs and navigate regulatory landscapes [6]

Core Insights - The global financial landscape is characterized by a complex interplay of anxiety and relaxation, with ongoing debates surrounding digital assets and concerns over AI investment bubbles as the world approaches 2026 [1] - Talent competition is identified as the central theme in the evolving global dynamics, driven by the emergence of a multipolar world and the need for adaptive talent strategies [2][3] Talent Competition - The concept of a "multipolar era" signifies a transformation in global financial paradigms, necessitating a reconfiguration of talent competition strategies to address intertwined crises and economic shifts [3] - The success of talent competition directly influences a nation's voice in global financial negotiations, emphasizing the importance of core talent teams in driving national competitiveness [4][5] Financial Philosophies - The debate between "planting" versus "harvesting" philosophies in finance highlights differing value systems, with a focus on nurturing long-term growth rather than short-term gains [6][8] - Historical examples of financial figures embodying the "planting" philosophy illustrate a commitment to societal welfare over personal gain, contrasting sharply with the "harvesting" mentality that has led to financial crises [6][8] Financial Talent Development - The need for a diverse and adaptable financial talent matrix is critical as the industry faces increasing competition and evolving challenges [10] - The "Hamburger structure" model proposes a multi-layered approach to developing high-end financial talent, addressing the integration of traditional and emerging financial paradigms [11] Core Competencies - Five categories of financial talent are identified, each with specific knowledge requirements and current challenges, including traditional finance, internet finance, blockchain finance, AI finance, and quantum finance [11][12] - The integration of these competencies is essential for fostering a resilient financial ecosystem capable of navigating future challenges [13] Governance and Risk Management - The development of a comprehensive governance framework is necessary to address new types of financial risks emerging from the integration of online and offline financial systems [15][16] - The cultivation of talent capable of implementing effective risk management strategies is crucial for maintaining stability in the evolving financial landscape [16]

Fed injected $74 billion into the economy, which is bullish for the crypto market — Source: CoinGape The Fed injected $74.6 billion into the economy, its highest overnight repo operation this year. This comes as the crypto market looks to stage a last-minute rally before the year ends. Bitcoin had climbed to as high as $89,000 earlier today. The crypto market is looking to stage a year-end rally before 2026 begins and has received a major boost with the New York Fed’s overnight repo operations, it ...

September 2025 Stablecoins 2030 Citi Institute Global Perspectives and Solutions Authors © 2025 Citigroup 2 Ronit Ghose Global Head, Future of Finance, Citi Institute ronit.ghose@citi.com Sophia Bantanidis Future of Finance Citi Institute sophia.bantanidis@citi.com Web3 to Wall Street Global Perspectives & Solutions Contributors Matthew Blumenfeld PwC Maya Caddle Solana Foundation Ron Chakravarti Citi Biswarup Chatterjee Citi Kaiwan Master Future of Finance Citi Institute kaiwan.hoshang.master@citi.com Rona ...