That's the question. Who is Kevin Warsh. And I think the answer comes from the president.He's someone well-known on both Wall Street and in Washington. He began his career after graduating from Harvard Law and Stanford at Morgan Stanley, then moved from there to the George W Bush White House in 2000 to as an economic adviser. And then Bush appointed him as the youngest Fed governor ever in 2006.Since then, he's lectured at Stanford, but his primary job is advising the legendary investor Stan Druckenmiller a ...

Market Performance - Benchmark equity indices Sensex and Nifty ended lower, with Sensex declining by 296.59 points or 0.36% to settle at 82,269.78 and Nifty dropping by 98.25 points or 0.39% to end at 25,320.65 [3][5] - The decline was attributed to weakness in metal and IT stocks, as well as caution ahead of the upcoming Budget presentation on February 1 [5][6] Sector Performance - Tata Steel experienced the largest decline among Sensex firms, falling by 4.57%, while other laggards included ICICI Bank, Power Grid, HCL Tech, Tech Mahindra, Infosys, and Kotak Mahindra Bank [4] - Conversely, Mahindra & Mahindra, State Bank of India, ITC, and Bharat Electronics were among the gainers [4] Foreign and Domestic Investment - Foreign institutional investors sold equities worth Rs 393.97 crore, while domestic institutional investors purchased stocks worth Rs 2,638.76 crore [4][5] Economic Outlook - India's economy is projected to grow by 6.8-7.2% in the upcoming fiscal year, maintaining its status as the world's fastest-growing major economy despite global trade risks [7]

Core Insights - The national average rates for second mortgage products, including home equity loans and HELOCs, are at multi-year lows, with the Federal Reserve maintaining a hold on interest rates, suggesting stability in the prime rate, a key factor in home equity lending [1] Group 1: Current Rates - The average HELOC rate is currently 7.25%, while the national average for home equity loans is 7.56%, based on applicants with a minimum credit score of 780 and a maximum combined loan-to-value ratio of less than 70% [2][8] - Homeowners have approximately $34 trillion in equity tied up in their homes as of Q3 2025, indicating significant potential for home equity lending [2] Group 2: Market Dynamics - With mortgage rates remaining in the low-6% range, homeowners are less likely to sell their homes or refinance, making HELOCs and home equity loans attractive alternatives for accessing home equity [3] - Interest rates for home equity products are determined by an index rate plus a margin, with the current prime rate at 6.75% [4] Group 3: Lender Considerations - Lenders have flexibility in pricing second mortgage products, and rates depend on factors such as credit score and debt levels, encouraging consumers to shop around for the best offers [5] - Introductory HELOC rates can be as low as 5.99% for the first year, but consumers should compare rates, fees, and repayment terms when selecting lenders [6] Group 4: Financial Implications - Interest rates fell throughout most of 2025 and are expected to remain steady into the first half of 2026, making it a favorable time for obtaining a second mortgage [10] - A $50,000 HELOC at a 7.50% interest rate would result in a monthly payment of approximately $313 during the 10-year draw period, but rates are typically variable, which could lead to increased payments during the repayment period [11]

Market Performance - Benchmark equity indices Sensex and Nifty ended lower, with Sensex declining by 296.59 points or 0.36% to settle at 82,269.78, and Nifty dropping by 98.25 points or 0.39% to end at 25,320.65, snapping a three-day rally [1][2] - The decline was influenced by selling pressure in metal and IT stocks, with Tata Steel experiencing the largest drop of 4.57% among Sensex firms [2] Foreign Investment Activity - Foreign institutional investors sold equities worth ₹393.97 crore on January 29, 2026, while domestic institutional investors purchased stocks worth ₹2,638.76 crore [3] Economic Outlook - India's economy is projected to grow by 6.8-7.2% in the upcoming fiscal year, maintaining its status as the fastest-growing major economy despite global trade risks and volatility [5] Market Sentiment - The Indian equity markets exhibited volatility ahead of the Union Budget, with cautious sentiment due to persistent foreign fund outflows and rupee depreciation [4][7] - Analysts noted that market participants are balancing pre-Budget positioning against external headwinds, contributing to a cautious market environment [7]

Circle Internet Group has unveiled an aggressive 2026 roadmap centered on Arc, its Layer-1 blockchain designed to serve as an “Economic Operating System” for global finance. The company aims to push Arc from testnet toward production while scaling its Circle Payments Network and StableFX applications to capture enterprise market share in stablecoin-powered settlement. The strategy comes as Circle faces mounting competition from Tether, which generated $5.2 billion in revenue during 2025 and now controls ...

Core Viewpoint - The SPDR Gold Shares ETF has significantly outperformed Bitcoin, Nvidia, and the S&P 500 in 2023, highlighting gold's strong performance as a safe haven asset amid geopolitical and economic uncertainties [1][2]. Performance Comparison - The SPDR Gold Shares ETF has increased by 25% year to date, outperforming Palantir Technologies (down 12%) and Nvidia (up 3%) [1]. - The ETF has outperformed the S&P 500 by 23 percentage points year to date and by 52 percentage points over the last six months [2]. Hedge Fund Activity - Notable hedge fund managers, Israel Englander of Millennium Management and Ken Griffin of Citadel Advisors, have increased their holdings in the SPDR Gold Shares ETF, indicating confidence in gold as a strategic investment [6]. Gold as a Diversifier - Gold is recognized as an attractive portfolio diversifier due to its low correlation with stocks and bonds, making it appealing during periods of global tension and economic distress [4][5]. Historical Performance - Historical data shows that gold has provided a hedge during significant market downturns, with gold prices declining less than the S&P 500 during crises [5]. Geopolitical Factors - The demand for gold tends to rise during periods of geopolitical tension and economic uncertainty, which have been exacerbated by recent U.S. policies [8][9]. Future Price Predictions - Analysts have varying predictions for gold prices in 2026, with estimates ranging from $4,700 to $6,000 per ounce, reflecting differing views on the impact of geopolitical and economic factors [11].

Core Insights - Euro zone consumers have raised their longer-term inflation expectations to a record high in December, indicating a belief that prices will grow faster than the European Central Bank's (ECB) target for years to come [1] Group 1 - The European Central Bank conducted a poll showing that inflation expectations among consumers in the Euro zone have reached unprecedented levels [1] - This increase in inflation expectations suggests that consumers anticipate sustained price growth beyond the ECB's target rate [1] - The implications of these expectations could influence monetary policy decisions by the ECB in the future [1]

Core Insights - The FICO UK Credit Card Market Report for November 2025 indicates that pre-Christmas spending was below 2024 levels, with rising balances and the lowest payment rates since 2021, highlighting financial stress among consumers [1] Spending Trends - Average credit card spending increased by 2.6% from October to November, reaching £785, but remained 2.4% lower year-on-year [1] - The percentage of customers using credit cards for cash withdrawals saw a significant decline of 12.3% month-on-month and 15.2% year-on-year [1] Payment and Balance Analysis - Payment rates dropped to 33.4%, down 2.8% from the previous month and 7.4% from November 2024, indicating increased financial strain [1] - Average active balances rose to £1,915, reflecting a monthly increase of 0.8% and an annual rise of 5% [1] Delinquency and Risk Indicators - The number of credit card accounts exceeding their limit increased by 6.4% month-on-month and 5.9% year-on-year [1] - Delinquent balances have grown across all categories, suggesting that customers missing payments are doing so with higher debt loads than in previous years [1] Strategic Recommendations - Risk and collections teams are advised to enhance monitoring for customers showing early signs of payment distress, especially as the holiday season approaches [1] - Effective account management should consider consumers' current financial situations and their capacity to manage existing and additional debt [1]

Gold and silver’s relentless start to a year has taken out record after record, shocked seasoned traders and analysts, and driven exceptional price volatility.After capping their best years since 1979, gold has jumped another 24 per cent this month to top $5,500 an ounce, while silver surged 60 per cent to exceed $120 an ounce and extend a historic short squeeze. Investors piled into the time-honored havens amid concerns about currency debasement and the Federal Reserve’s independence, trade wars and geopol ...

Core Viewpoint - The Indian government's upcoming budget is expected to prioritize job creation and economic stability amid global uncertainties, with a focus on infrastructure spending and fiscal consolidation [1][2][4]. Employment and Growth - The budget is anticipated to emphasize employment support and growth initiatives, with increased spending on infrastructure such as roads, ports, and railways, alongside reforms in the import-duty regime [2][3]. - Economists project India's economic growth to be between 6.5% and 7% for the next fiscal year, with inflation expected to align with the central bank's target of 4% [8]. Fiscal Deficit and Debt - The fiscal deficit is projected to decrease to 4.2% of GDP in the upcoming fiscal year, down from 4.4% in the current year, as the government aims to adhere to fiscal consolidation [4][6]. - India's general government debt is estimated to reach 81.29% of GDP by March 2024, a significant increase from 69% in 2015, primarily due to pandemic-related borrowing [7]. Revenue Generation - The government anticipates net tax revenues of 28.3 trillion rupees (approximately $308 billion) and an additional 500 billion rupees from disinvestment [9]. - Corporate and income tax collections will need to increase by 11.7% and 43% year-on-year, respectively, to meet budgeted targets [10]. Capital Expenditure - Capital expenditure is expected to be a focal point, with an allocation of about 12.04 trillion rupees, nearly 3% of GDP, although concerns about reaching saturation in large infrastructure projects have been raised [12]. - Defense-related capital spending is projected to rise to 2.3 trillion rupees, reflecting ongoing border tensions [13]. Market Borrowing - The government is likely to engage in record bond borrowing, with gross market borrowing expected to reach 16.5 trillion rupees and net borrowing at 11.6 trillion rupees [14].