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BigBreakingWire
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JPMorgan says the biggest risk to Bitcoin is not Strategy, but traditional finance creating private blockchains.
$MSTR
$MSTR
🚨 US 30-year mortgage rates rose to 6.49%, reversing last week's decline as renewed US-Iran tensions increased market uncertainty.
Freddie Mac said the average 30-year fixed mortgage rate was 6.43%, compared with 6.72% a year ago.
Rising geopolitical tensions have raised concerns that higher oil prices could keep borrowing costs elevated.
Higher mortgage rates continue to hurt homebuyer demand, with economists warning they could limit a housing market recovery in 2026.
Freddie Mac said the average 30-year fixed mortgage rate was 6.43%, compared with 6.72% a year ago.
Rising geopolitical tensions have raised concerns that higher oil prices could keep borrowing costs elevated.
Higher mortgage rates continue to hurt homebuyer demand, with economists warning they could limit a housing market recovery in 2026.
$MU || Micron Bets $250 Billion on U.S. Chip Expansion in AI Race
Micron will invest over $250 billion in the U.S. by 2035 to expand chip manufacturing.
Targets producing 40% of its global DRAM in the U.S.
Will invest up to $3 billion to strengthen the domestic semiconductor supply chain.
Providing $500 million to GlobalWafers and signing a 10-year supply agreement.
Idaho fab to start wafer production in mid-2027.
U.S. projects expected to create 90,000+ jobs, including 50,000 in New York with 9,000 direct roles.
Micron will invest over $250 billion in the U.S. by 2035 to expand chip manufacturing.
Targets producing 40% of its global DRAM in the U.S.
Will invest up to $3 billion to strengthen the domestic semiconductor supply chain.
Providing $500 million to GlobalWafers and signing a 10-year supply agreement.
Idaho fab to start wafer production in mid-2027.
U.S. projects expected to create 90,000+ jobs, including 50,000 in New York with 9,000 direct roles.
SK Hynix priced its U.S. ADR offering at $149 per share, representing a 3.1% premium to its closing price in Seoul.
$SKHYNIX
$SKHYNIX
🇨🇳 China's 10-Year Bond Auction Sees Record Demand
China's benchmark 10-year government bond auction drew a record 7.23 bid-to-cover ratio, with yields around 1.73%. The PBOC reaffirmed an "appropriately loose" monetary policy, while LCH expanded global access by accepting offshore yuan-denominated Chinese government bonds as collateral.
China's benchmark 10-year government bond auction drew a record 7.23 bid-to-cover ratio, with yields around 1.73%. The PBOC reaffirmed an "appropriately loose" monetary policy, while LCH expanded global access by accepting offshore yuan-denominated Chinese government bonds as collateral.
Axios cites US officials: The new campaign's duration and intensity depend on Tehran's next steps. The White House sees room for escalation as hundreds of oil tankers left the Gulf via the Strait of Hormuz recently. Their departure eased fears that conflict would spike oil prices. If the deal doesn't meet our wants, we won't make it.
#USLaunchesNewStrikesAgainstIran
#USLaunchesNewStrikesAgainstIran
US and euro-area government bond yields jumped after Trump said the US-Iran ceasefire was over. Rising oil prices added to the pressure. The 10-year US Treasury yield climbed 4.8 bps to 5.577%, while the 10-year German Bund yield rose 8 bps to 3.064%, according to Tradeweb.
#USLaunchesNewStrikesAgainstIran
#USLaunchesNewStrikesAgainstIran
🇺🇸 Trump on Iran: "Ceasefire Is Over"
Trump said the U.S. struck Iran after attacks on ships, called Iran's leaders liars, said talks can continue if they want, but added the Iran ceasefire is over.
#USLaunchesNewStrikesAgainstIran
Trump said the U.S. struck Iran after attacks on ships, called Iran's leaders liars, said talks can continue if they want, but added the Iran ceasefire is over.
#USLaunchesNewStrikesAgainstIran
🚨 KOSPI fell as much as 6%, down over 20% from its June peak, nearing a bear market.
Samsung dropped 7% and SK Hynix 5% as investors reassessed AI chip demand.
Chip stocks fell despite Samsung's 19-fold profit jump, as investors questioned AI-driven capex.
Fidelity warned that AI spending by a few tech giants may be difficult to sustain, increasing downside risks.
Samsung dropped 7% and SK Hynix 5% as investors reassessed AI chip demand.
Chip stocks fell despite Samsung's 19-fold profit jump, as investors questioned AI-driven capex.
Fidelity warned that AI spending by a few tech giants may be difficult to sustain, increasing downside risks.
$SAMSUNG || Nomura says Samsung Electronics remains undervalued despite recent weakness.
Preliminary Q2 operating profit of ~₩8.9T beat Nomura's ₩7.6T estimate.
Excluding an estimated ~₩2T one-off bonus provision, Q2 operating profit would be around ₩11T.
Nomura expects DRAM and NAND prices to rise 15–20% QoQ in Q3 on strong demand and tight supply.
Outlook supports improving memory-chip earnings momentum in the second half of the year.
Preliminary Q2 operating profit of ~₩8.9T beat Nomura's ₩7.6T estimate.
Excluding an estimated ~₩2T one-off bonus provision, Q2 operating profit would be around ₩11T.
Nomura expects DRAM and NAND prices to rise 15–20% QoQ in Q3 on strong demand and tight supply.
Outlook supports improving memory-chip earnings momentum in the second half of the year.
🚨 SK Hynix Launches $28B Nasdaq Listing Amid Chip Selloff
SK Hynix has launched its ~$28 billion Nasdaq listing, with trading expected to begin Friday.
The offering could become the largest-ever U.S. listing by a foreign company.
Morgan Stanley advised reducing exposure to memory chip stocks, saying the semiconductor rally is fading as investors rotate into hyperscalers.
SK Hynix shares in Seoul have fallen 17% this month, with recent volatility described as among the wildest in global chip stocks in years.
#SKHynixToBeginNasdaqTradingJuly10
SK Hynix has launched its ~$28 billion Nasdaq listing, with trading expected to begin Friday.
The offering could become the largest-ever U.S. listing by a foreign company.
Morgan Stanley advised reducing exposure to memory chip stocks, saying the semiconductor rally is fading as investors rotate into hyperscalers.
SK Hynix shares in Seoul have fallen 17% this month, with recent volatility described as among the wildest in global chip stocks in years.
#SKHynixToBeginNasdaqTradingJuly10
U.S. struck over 80 Iranian military targets on July 7 after attacks on commercial vessels in the Strait of Hormuz.
President Donald Trump approved the operation, with U.S. officials calling it "punishment" and saying strikes may continue.
OFAC revoked Iran General License X and issued General License X1, beginning the wind-down of authorized Iranian oil-related activities.
Iran vowed a "devastating response", while crude oil prices jumped and Asia-Pacific bond yields moved higher.
#USLaunchesNewStrikesAgainstIran
President Donald Trump approved the operation, with U.S. officials calling it "punishment" and saying strikes may continue.
OFAC revoked Iran General License X and issued General License X1, beginning the wind-down of authorized Iranian oil-related activities.
Iran vowed a "devastating response", while crude oil prices jumped and Asia-Pacific bond yields moved higher.
#USLaunchesNewStrikesAgainstIran
🚨 BREAKING: Hedge funds' bearish bets on the Japanese yen hit the highest level since 2007 as USD/JPY surges above 162, the yen's weakest level since 1986.
CFTC data shows net short yen positions at ~146,000 contracts (as of June 30), the largest since 2007.
USD/JPY breaks above 162 on widening Fed-Bank of Japan policy divergence.
Japan warns it may intervene to support the yen.
A forced unwind of the massive yen carry trade could trigger volatility across global markets.
CFTC data shows net short yen positions at ~146,000 contracts (as of June 30), the largest since 2007.
USD/JPY breaks above 162 on widening Fed-Bank of Japan policy divergence.
Japan warns it may intervene to support the yen.
A forced unwind of the massive yen carry trade could trigger volatility across global markets.
🚨 BREAKING: Samsung Electronics posts blockbuster Q2 earnings, estimates operating profit at ~₩89T, up nearly 19x YoY, driven by booming AI memory demand. Shares fall despite the earnings beat as revenue appears to miss the most optimistic forecasts.
South Korea's KOSPI fell 395.41 points, or 4.91%, to 7,655.92. It dropped over 8% intraday, triggering a market-wide circuit breaker. Japan's Nikkei 225 fell 1,480.73 points, or 2.12%, to 68,256.96. SK Hynix dropped about 6%. Samsung Electronics fell nearly 7%.
$META Meta said in a court filing that four U.S. states are seeking $1.4 trillion in penalties over claims that Facebook and Instagram were designed to addict young users.
The lawsuits were filed by California, Colorado, Kentucky and New Jersey, which argue Meta misled the public about the platforms' safety.
The proposed penalties are based on state laws and come ahead of an August trial in Oakland, California.
Meta rejected the figure, calling it unsupported by the evidence, as it continues to face thousands of claims over allegedly addictive platform features.
The lawsuits were filed by California, Colorado, Kentucky and New Jersey, which argue Meta misled the public about the platforms' safety.
The proposed penalties are based on state laws and come ahead of an August trial in Oakland, California.
Meta rejected the figure, calling it unsupported by the evidence, as it continues to face thousands of claims over allegedly addictive platform features.
🇺🇸🚨 A draft U.S. Treasury report warns the AI boom could create risks similar to the dot com bubble if growth expectations are not met.
The report, prepared for Treasury Secretary Bessent, Fed Chair Kevin Warsh and other regulators, is awaiting approval before being officially released.
It says AI companies are more deeply connected to the U.S. economy than internet firms were, with risks from weaker funding, supply chain constraints and lower than expected productivity gains.
A Treasury spokesperson said the draft is not official policy and reiterated the department believes AI will drive strong productivity, economic growth and create new opportunities.
The report, prepared for Treasury Secretary Bessent, Fed Chair Kevin Warsh and other regulators, is awaiting approval before being officially released.
It says AI companies are more deeply connected to the U.S. economy than internet firms were, with risks from weaker funding, supply chain constraints and lower than expected productivity gains.
A Treasury spokesperson said the draft is not official policy and reiterated the department believes AI will drive strong productivity, economic growth and create new opportunities.
Strategy sold 3,588 BTC for $216 million between June 29–July 5, leaving 843,775 BTC in holdings.
Sale proceeds were used to fund preferred stock payments; cash reserves stood at $2.55 billion.
Q2 included an $8.31 billion unrealized loss and an $8.32 billion digital asset loss.
Digital asset carrying value was $49.67 billion as of June 30.
No shares were sold under the ATM program, and no share repurchases were made.
$MSTR $BTC
Sale proceeds were used to fund preferred stock payments; cash reserves stood at $2.55 billion.
Q2 included an $8.31 billion unrealized loss and an $8.32 billion digital asset loss.
Digital asset carrying value was $49.67 billion as of June 30.
No shares were sold under the ATM program, and no share repurchases were made.
$MSTR $BTC
Morgan Stanley: Money is rotating out of semiconductor stocks and into hyperscalers such as Microsoft, Amazon and Meta Platforms, supported by their strong core businesses and AI data-center demand.
Strategists led by Michael Wilson said momentum is fading in some large-cap stocks, which could keep major U.S. equity indices under short-term pressure as sector rotation continues.
The team also warned that recent weakness may lead investors to lower expectations for future AI spending by hyperscalers.
Morgan Stanley maintained its year-end S&P 500 target of 8,000, implying about 7% upside from current levels.
Strategists led by Michael Wilson said momentum is fading in some large-cap stocks, which could keep major U.S. equity indices under short-term pressure as sector rotation continues.
The team also warned that recent weakness may lead investors to lower expectations for future AI spending by hyperscalers.
Morgan Stanley maintained its year-end S&P 500 target of 8,000, implying about 7% upside from current levels.
Japan's former FX chief: Yen should strengthen to around ¥130 per dollar, up to 20% appreciation possible
Former Japan FX official Tatsuo Yamazaki said the yen should appreciate by as much as 20% to around ¥130 per $1, adding that estimates of a 10% undervaluation may be too conservative.
Yamazaki said the key issue is changing market expectations rather than economic fundamentals.
He warned Japanese authorities have moved beyond verbal warnings and are prepared to intervene, raising the risk of forced covering of yen short positions.
Former Japan FX official Tatsuo Yamazaki said the yen should appreciate by as much as 20% to around ¥130 per $1, adding that estimates of a 10% undervaluation may be too conservative.
Yamazaki said the key issue is changing market expectations rather than economic fundamentals.
He warned Japanese authorities have moved beyond verbal warnings and are prepared to intervene, raising the risk of forced covering of yen short positions.
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