RT Bloomberg en Español (@BBGenEspanol)Una nueva ola digital se cierne sobre los bancos mexicanos, impulsada por fintechs con nuevas licencias bancarias que van tras los valiosos depósitos de nómina de la clase media. @mccobo4 escribe esta semana sobre este tema.Lee más en este link gratuito👇📰https://t.co/lssWGZSJIP ...

新华财经香港11月28日电（记者林迎楠）香港金融管理局28日发表的统计数字显示，认可机构的存款总 额在2025年10月下跌0.4%，其中港元存款及外币存款分别下跌0.9%及0.1%。 统计数字显示，由年初截至10月底计，存款总额及港元存款分别上升9.7%及3.1%。香港人民币存款在 10月下跌0.6%，在10月底为9962亿元人民币。跨境贸易结算的人民币汇款总额在10月为10066 亿元人民 币。 （文章来源：新华财经） 此外，10月港元货币供应量M2及M3环比均下跌0.6%，同比均上升3.5%。10月经季节因素调整的港元货 币供应量M1环比上升1.7%，同比上升12.2%，部分反映投资相关活动。货币供应量总额M2及M3在10月 环比均下跌0.3%，同比则均上升10.6%。 10月贷款与垫款总额下跌0.7%，由年初截至10月底计则上升0.9%。其中在香港使用的贷款（包括贸易 融资）及香港境外使用的贷款在10月分别下跌0.9%及0.2%。由于港元贷款与港元存款跌幅相近，港元 贷存比率于10月底大致维持不变，仍为73.6%。 ...

Economic Analysis - The claim that moving from blue states to red states can reduce inflation by 0.5% is questioned, with no state-level analysis from the Council of Economic Advisers supporting this assertion [1][2] - Rising living costs have been exacerbated by President Trump's tariffs, which have intensified financial pressures on Americans [4] - An independent study suggests that metro areas with more Republican and independent voters experienced higher inflation in 2022 compared to areas with more Democrats [5] Inflation Insights - Inflation has increased to 3% from 2% in April, particularly affecting staple goods like coffee and bacon [3] - The Federal Reserve Bank of Minneapolis indicates that the purchasing power of $100 in 2025 is equivalent to $12.05 in 1970, highlighting the long-term erosion of dollar value [7] Investment Opportunities - Gold has surged over 50% in price over the past year, with predictions from industry leaders like JPMorgan's CEO suggesting it could reach $10,000 per ounce [9] - Real estate remains a strong asset during inflationary periods, with the S&P Case-Shiller U.S. National Home Price Index rising by 45% over the past five years [12] - Crowdfunding platforms like Arrived allow investors to participate in real estate with minimal investment and without the burdens of property management [14][15] Alternative Assets - Art is emerging as a valuable investment class, with platforms like Masterworks enabling fractional ownership of high-value artworks, making it accessible to a broader range of investors [19][21]

Key TakeawaysCME Group (CME) markets, including U.S. gold and silver futures, have resumed trading after an hours-long halt caused by a technical glitch at a data center. U.S. gold futures are up 0.3% at $4,215.3/oz.The German Bundestag has approved the 2026 federal finance plan, which includes €98 billion in net new borrowing, pushing the total net debt (including special funds) to nearly €182 billion.Canada's annualized GDP for the third quarter surged to 2.6%, significantly surpassing the 0.5% estimate a ...

US stocks made small gains on Friday as a holiday-shortened week and volatile month drew to a close. The blue-chip Dow Jones Industrial Average (^DJI) led the market higher on Black Friday, gaining around 0.6% through mid-morning trading. The tech-heavy Nasdaq Composite (^IXIC) and generalist S&P 500 (^GSPC) rose by roughly 4%. Earlier in the day, the Chicago Mercantile Exchange restored trading operations after a long outage disrupted live trading in futures and options across several markets worldwide ...

You can check your credit reports from Equifax, Experian and TransUnion for free at AnnualCreditReport.com.“The difference between having mediocre credit and good credit is about $150,000 over the life of the loan,” Carrie Joy Grimes, CEO of WorkMoney, told Consumer Reports.Of equal concern is that 27% of those errors were potentially damaging to participants’ credit scores — and that could end up costing them money, as in the case of a typical mortgage.This is surprisingly common. In 2024, Consumer Reports ...

Core Insights - Amazon is set to provide loans to small businesses in India, indicating a strategic move to expand its financial services offerings in the region [1] - Walmart-owned Flipkart is exploring buy-now, pay-later (BNPL) products, showcasing the competitive landscape between e-commerce giants and traditional banks in India [1] Company Initiatives - Amazon's initiative to offer loans aims to support small businesses, potentially increasing its market share in the financial services sector [1] - Flipkart's focus on BNPL products reflects a growing trend in e-commerce, aiming to enhance customer purchasing power and drive sales [1] Industry Dynamics - The entry of e-commerce companies like Amazon and Flipkart into financial services represents a significant challenge to traditional banking institutions in India [1] - The competition between e-commerce platforms and banks may lead to innovative financial products and services tailored for small businesses and consumers [1]

Hong Kong dollar bond issuance is poised to expand, following a record run of offerings, as easing local interest rates attract more issuers while a global diversification trend persists, according to analysts. Total issuance in the city's currency reached a record HK$331 billion (US$42.6 billion) so far this year, nearly 37 per cent higher than 2024's full-year total of HK$242 billion. "The Hong Kong dollar bond market will continue to grow over the long term, supported by structural shifts," said Olive ...

Summary of Key Points from the Conference Call Industry Overview - The conference call discusses the global macroeconomic outlook for 2026, focusing on the impact of AI, fiscal policies, and the K-shaped recovery in various economies [1][2][16][40]. Core Themes and Arguments 1. **Global Economic Outlook**: - The global economy is expected to grow at 3.3% in 2026, with inflation stabilizing around 2.4% [39][42]. - The US and China are projected to drive strong global growth, with the US benefiting from AI-related investments and fiscal stimulus [42][43]. 2. **K-shaped Recovery**: - The recovery is characterized by uneven growth across sectors and income groups, leading to increased income inequality [16][40][41]. - The divergence in consumer sentiment and equity returns highlights the K-shaped nature of the recovery [19]. 3. **Impact of AI**: - AI is anticipated to boost productivity and influence growth and inflation dynamics, but it may also lead to income redistribution from labor to capital [17][18][40]. - Developed markets like the US, Japan, and Korea are well-positioned to benefit from AI advancements [17]. 4. **Fiscal and Monetary Policy Dynamics**: - Fiscal dominance is becoming a significant factor in market pricing, particularly in the US and Japan, raising concerns about the sustainability of public finances [22][23]. - The call suggests that central banks may face challenges in maintaining independence due to fiscal pressures [22][23]. 5. **Currency and FX Market Outlook**: - The US dollar is expected to remain dominant, but there is a gradual trend towards FX reserve diversification [24]. - The call highlights tactical bullish trades on the USD against JPY and AUD, while remaining bearish beyond Q1 2026 [10][76]. Important but Overlooked Content 1. **Volatility and Market Risks**: - Current market conditions show low volatility and high valuations, making markets vulnerable to shocks [9][12][59]. - The need for tail risk hedges is emphasized, particularly for portfolios that are long carry [9][10]. 2. **Emerging Markets (EM) Outlook**: - EM local markets are expected to deliver double-digit USD returns, particularly in currencies like BRL, COP, and ZAR [11][13]. - However, caution is advised regarding sovereign external debt, with a forecast of 4% total return and wider spreads [13]. 3. **Geopolitical Considerations**: - The US is showing renewed interest in Latin America and other emerging markets for critical inputs, influenced by national security considerations [38]. - The geopolitical landscape is expected to impact supply chains and investment strategies [38]. 4. **Inflation Dynamics**: - Service inflation is expected to remain sticky across most countries, while China is likely to continue exporting disinflation in goods [47][48]. - The call anticipates different central bank reactions to inflation, with most expected to end their easing cycles in 2026 [49][50]. 5. **Investment Strategies**: - Specific investment strategies include long positions in US rates, EM local bonds, and tactical trades in FX markets [20][21][70][75]. - The call suggests a focus on carry trades and hedging against potential market disruptions [61][63]. This summary encapsulates the key points discussed in the conference call, providing insights into the macroeconomic landscape, investment strategies, and potential risks for 2026.

Global Markets Strategy November 24th, 2025 Global Macro Outlook and Strategy Global Rates, Commodities, Currencies and Emerging Markets Luis Oganes AC (44-20) 7742-1420 luis.oganes@jpmorgan.com J.P. Morgan Securities plc See the end pages of this presentation for analyst certification and important disclosures. {[{B01v-d4joWPbpSPNcwGh7enRDcx_XYd872O4Uor3Vcsp4l33-sDPjK3f0Kx6YvaA0ymmNbAAwvGb8H0v}]} Overall summary US Rates Recent Fed speak has turned more cautious on further easing, and following the Septemb ...