北京时间3月19日，美联储公开市场委员会以11-1票，决定维持联邦基金利率目标区间在3.5%-3.75%不变。 一图速览>> ▶ 关于降息 利率预测取决于经济表现,所以如果看不到经济进展,就不 会降旨。 目前的局面是：劳动力市场面临下行风险，这要求降低利 率;而通胀则面临上行风险,这又要求提高利率或至少不降 息。因此,我们处境艰难。政策框架要求美联储必须平衡这 些风险。当前的政策立场正处于一个临界点上,即限制性与 非限制性政策区间的边缘,且更偏向限制性的一侧。 ▶ 关于通胀 | | Jan | Feb | Mar | Apr | May | 2026年3月再度维持不变 Jun | Jul | Aug | Sept | Oct | Nov | Dec | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2022 | | | 25 | | 50 | 75 | 75 | | 75 | | 75 | (50) | | 2023 | | 25 | 25 | | 25 | | 25 | | C | | | ...

Financial Data and Key Metrics Changes - Adjusted pre-tax earnings reached BRL 241 million for Q4 2025, 12.1% above guidance, and BRL 592 million for the full year, 11.5% above guidance [4] - Adjusted net income was BRL 180 million for Q4, 31.5% above guidance, and BRL 502 million for the full year, 14.1% above guidance [5] - Net revenues grew to BRL 3 billion in Q4, up 69% year-over-year, and BRL 10.3 billion for the full year, an 85% increase [9] Business Line Data and Key Metrics Changes - Total payment volume reached BRL 157.5 billion in Q4, up 28%, and BRL 550 billion for the full year, a 31% increase [6] - Cash-in grew to BRL 139.4 billion in Q4, up 27%, and BRL 483.4 billion for the year, up 29% [7] - Deposits increased by 44%, reaching BRL 28.7 billion, indicating growing client trust [7] Market Data and Key Metrics Changes - The credit portfolio reached BRL 24.1 billion, up 128% year-over-year, driven by secured and unsecured products [8] - Personal loans origination more than doubled in Q4, reaching BRL 4.4 billion, up 116% [8] - The average revenue per active client (ARPAC) rose to BRL 71 in Q4, up 52% [9] Company Strategy and Development Direction - The company is focusing on expanding its affluent consumer segment with the launch of Epic, targeting high-income clients [12] - A new Global Account was introduced, allowing multi-currency balances and a global debit card [13] - The strategy includes deepening integration with small and medium businesses and enhancing the B2B ecosystem [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong growth while managing asset quality, particularly with the shift towards secured products [47] - The company anticipates continued revenue growth and margin expansion in 2026, focusing on credit product penetration and customer engagement [41][42] - Management acknowledged the competitive landscape but remains optimistic about sustaining growth despite new entrants [66][70] Other Important Information - The company reported a significant shift in revenue mix, with float fees and commissions now representing 48% of revenues [10] - The efficiency ratio fell below 50% for the first time, reflecting improved operational leverage [28] - The company is actively seeking additional funding sources to support rapid credit portfolio growth [36][37] Q&A Session Summary Question: Asset quality and credit growth sustainability - Management expects to maintain a strong growth pace with improving asset quality, particularly due to the focus on secured products [47] Question: Evolution of third-party card transactions - Revenues from third-party credit cards represent low teens percentage of total net revenues, with a significant shift towards PicPay's own credit capabilities [49] Question: AI efforts and efficiency - The company has integrated AI into customer service, avoiding the need for thousands of customer service representatives, and is leveraging AI for cross-selling [59] Question: Seasonality in first-quarter guidance - Management acknowledged that Q1 is typically weaker but expects strong performance, with credit card TPV and loan origination remaining robust [64][65] Question: Competition in the private payroll product market - While competition is increasing, management believes they can maintain growth due to strong product offerings and customer relationships [66][70]

New York, New York--(Newsfile Corp. - March 18, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of PennyMac Financial Services, Inc. (NYSE: PFSI) resulting from allegations that PennyMac may have issued materially misleading business information to the investing public.SO WHAT: If you purchased PennyMac securities you may be entitled to compensation without payment of any out of pocket fees or costs through a con ...

Toronto, Ontario, March 18, 2026 (GLOBE NEWSWIRE) -- DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) (“DelphX”), a leader in the development of new classes of structured products, announces that it intends to proceed with a non-brokered private placement ("the Offering") of up to 2,500,000 units (the "Units") at a subscription price of C$0.05 per Unit, for gross proceeds of up to C$125,000. Each Unit will consist of one common share ("Common Share") and one Common Share purchase warrant ("Warrant"). ...

Toronto, Ontario, March 18, 2026 (GLOBE NEWSWIRE) -- DelphX Capital Markets Inc. (TSXV: DELX) (OTCQB: DPXCF) (“DelphX”), a leader in the development of new classes of structured products, announces that it intends to proceed with a non-brokered private placement ("the Offering") of up to 2,500,000 units (the "Units") at a subscription price of C$0.05 per Unit, for gross proceeds of up to C$125,000. Each Unit will consist of one common share ("Common Share") and one Common Share purchase warrant ("Warrant"). ...

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Core Insights - Raymond James Financial Services Independent Contractor Division (ICD) has appointed Kirk Bell as president, effective April 1, 2026, to enhance advisor partnerships and growth [1][2] - Bell has nearly 26 years of experience with Raymond James and is recognized for his people-first leadership approach [2] - He succeeds Shannon Reid, who resigned after nearly two decades with the firm [2] Company Overview - Raymond James Financial, Inc. is a diversified financial services company providing a range of services including private client group, capital markets, asset management, and banking [4] - The firm manages total client assets amounting to $1.80 trillion and has been publicly traded since 1983 under the NYSE symbol RJF [4]

₿ITCOIN: @FOLD_APP REPORTS 34% INCREASE IN ANNUAL REVENUE OF $31.9MFold reported gaining 13,000 new customers, bringing its total to 84,000 verified accounts and a 3% year-over-year jump in transaction volume of $215 million. Total transaction volume grew 46% to $960 million.While they also reported a net loss of $69.6 million for the full year 2025, they also reported gaining 13,000 new customers, bringing its total to 84,000 verified accounts and a 3% year-over-year jump in transaction volume of $215 mill ...

Summary of Forum Markets Incorporated Conference Call Company Overview - **Company**: Forum Markets Incorporated (NasdaqCM:ETHZ) - **Business Model**: Focuses on acquiring real-world assets in large verticals, tokenizing them on the regulated financial institution Liquidity.io, and generating revenue through yield and cash flows from these assets [1][5][4] Key Points Business Strategy - **Tokenization**: The company is tokenizing assets such as CFM56 jet engines, which are on long-term contracts with major U.S. airlines, to distribute returns to token holders [2][10] - **Management Team**: The management team has extensive experience in aerospace, defense, and private equity, with a board that is actively involved in capital sourcing and deal connectivity [3][4] Financial Position - **Assets**: The company currently holds over $100 million in assets, including equity stakes in acquired businesses and cash-generating assets [5][7] - **Revenue Generation**: Revenue is primarily generated from holding cash-flowing assets, token origination fees, and asset management fees [20][45] Market Position - **Tokenization Market**: The company believes it is at the forefront of the tokenization market, which is still in its early stages. It aims to create a marketplace for tokenized real-world assets [21][22] - **Verticals**: The company is focusing on three main verticals: car loans, modular home loans, and aerospace, with plans to expand into commercial real estate [23][29][30] Future Plans - **Expansion**: Plans to increase capital allocation into cash-flowing assets, targeting over $100 million deployed by summer [41] - **Token Development**: Upcoming tokens include a Zippie token for modular home loans, expected to yield 9%-11% [28][29] Regulatory Environment - **Compliance**: The company is following U.S. securities regulations for token offerings and believes that a strict regulatory framework will benefit the marketplace [39] Market Dynamics - **Competition**: While there are discussions about tokenization, the company claims to be unique in its approach to tokenizing specific asset types at the level it is currently doing [43] Stock Performance - **Stock Valuation**: The stock price has been affected by the decline in Ethereum, which constituted a significant part of the balance sheet. The company is gradually reducing its Ethereum exposure [32][33] Distribution Strategy - **Token Marketing**: The company has not aggressively marketed its tokens yet, focusing instead on ensuring the functionality of the Liquidity platform before expanding distribution efforts [35][36] Additional Insights - **Yield Characteristics**: The token structure allows investors to receive direct collateral and cash flow from the assets, with unique tax benefits expected for future offerings [14][15] - **Operational Efficiency**: The use of blockchain technology is aimed at improving efficiency in asset origination and cash flow distribution [4][5][25] This summary encapsulates the key aspects of Forum Markets Incorporated's conference call, highlighting its business model, financial position, market strategy, and future plans.

MarketPulse is an award-winning industry analysis and news site service created by OANDA Business Information & Services, Inc. Covering forex, commodities, global indices and more, our goal is to give timely, relevant and informative commentary on major macroeconomic trends, technical analysis and worldwide events impacting the industry. ...