August 2025

Federal Reserve Governor Christopher Waller stated that the Fed will not purchase bonds in primary auctions. If the Trump administration’s tariff policies stabilize around 10%, the Fed may cut interest rates in the second half of 2025. The Fed reiterated its policy stance of avoiding direct participation in government bond issuance. On the 22nd, Waller […]

Skywork Super Agents positions itself as an ‘AI-powered Office’ solution. It features a vertically specialized system comprising ‘5 expert agents’ + ‘1 universal agent.’ The expert agents focus on professional document creation, PPTs, spreadsheets, podcasts, and web page generation, while the universal agent integrates dozens of MCPs (Multi-modal Creative Processors) to handle creative multi-modal tasks.

Some European Central Bank (ECB) officials believe the April reduction in borrowing costs effectively ‘frontloaded’ a rate cut originally scheduled for June. Eurozone inflation is ‘approaching its end,’ but trade tensions may temporarily suppress prices. Markets currently anticipate a roughly 90% chance of an ECB rate cut next month, with an additional cut expected later

The Eurozone’s composite PMI fell from 50.4 in April to 49.5 in May, with the services sector performance dropping to its worst level in 16 months. A slight improvement in manufacturing was offset by the decline in services. France’s economic activity has contracted for nine consecutive months, while services activity in both Germany and France

Morgan Stanley believes that structural improvements in the Chinese stock market are gradually emerging. Factors such as the bottoming out of corporate ROE, improving earnings expectation cycles, valuations at relatively low global levels, strengthened policy support, and advancements in industrial upgrading and technological innovation all provide positive catalysts. The Chinese stock market is reaching a