News

(1) The US Treasury market opened higher on Tuesday, with yields on 2-year to 20-year bonds falling by 0.8 to 2.9 basis points. The 10-year yield was reported at 4.443%. Stock markets edged higher, and oil continued its decline—WTI July contract dropped intraday to $78.14, the lowest since March 10, as the market awaits more details on the US-Iran peace agreement.(2) The global central bank decision week has officially begun: The Reserve Bank of Australia kept rates unchanged at 4.35%, with a unanimous 9-0 vote. Previously, it had raised rates by 25 basis points for three consecutive times since early February. The statement noted that rising fuel prices are directly pushing inflation up and showing signs of spilling over into other goods and services, indicating that further rate hikes may be underway.(3) The Bank of Japan voted 7-1 to raise rates by 25 basis points to 1%, its highest level since 1995. Committee member Asada Junichiro favored keeping rates unchanged. Governor Ueda was absent due to health reasons. The Bank also decided to continue reducing government bond purchases at a pace of 200 billion yen per quarter and adjusted its forward guidance, dropping the "low real rates" wording, hinting that rates are approaching neutral levels.(4) Germany's ZEW Economic Sentiment Index soared to 10.5 in June, far exceeding the previous value of -10.2 and expectations of -6.0, but the Current Conditions Index remained sluggish at -81.0. German bond futures showed no obvious reaction. In the US, May import-export prices and building permit data will be released; the Treasury will auction 65 billion 6-week T-bills and 13 billion 20-year bonds, while the New York Fed will conduct a repo operation in the afternoon for up to $4 billion in 7- to 10-year coupon bonds.(5) This week sees a flurry of central bank decisions—Wednesday features the Federal Reserve (Walsh's first press conference) and Sweden's central bank, Thursday brings the Norges Bank, Swiss National Bank, and Bank of England. With oil prices at a three-month low, the hawkish moves from the Reserve Bank of Australia and Bank of Japan suggest the "tail" of global liquidity tightening may last longer than markets expect. The focus going forward will be on how the Federal Reserve, in its first rate decision, balances the disinflation effects from falling oil prices with the persistence of core services inflation.

BlockBeats News, June 16th, Bitmine officially announced that the A Series Perpetual Preferred Stock with an annual dividend yield of 9.50% will be listed for trading today. The stock code is BMNP, and dividends are expected to be distributed weekly.

(1) Marcelo Montenegro, former Minister of Economy and Public Finance of Bolivia, testified at the prosecutor’s office on Monday regarding the alleged irregularities in the 2024 sovereign bond transactions. He stated that he is cooperating as a witness and that all relevant matters are included in the investigation file. (2) At the end of April, Edwin Rojas, former governor of the Central Bank of Bolivia, was placed under house arrest for the same case, and several other former senior executives of the central bank have received similar compulsory measures. The case centers on at least seven sovereign bond swap transactions carried out by various banks during the 2024 administration. (3) The investigation found that the market value of these bonds ranged between 52% and 56% of face value, yet the central bank purchased them at 99.9%, representing a premium of about 40 percentage points. The case was initiated after a complaint was filed by the current central bank management. (4) This case subtly contrasts with the global macro environment at the same time—when emerging market central banks exhibit significant pricing discrepancies in debt management, it often hints at weaknesses in institutional governance or in information transmission processes. In the current backdrop of oil prices falling due to the US-Iran agreement and diverging global interest rate paths, the fiscal health of resource-driven emerging economies is receiving increased market scrutiny. (5) Subsequent attention will focus on whether the investigation uncovers more transaction details and determines responsibility, as well as the potential effect of the case on the secondary market pricing of Bolivian sovereign bonds. The market may reassess the liquidity premium and governance risk pricing of these bonds.