At least one big option trader has dialed up an $18 million bet that the Federal Reserve will avoid cutting interest rates any time this year. -sources

Chinese sovereign fund CIC to sell US private equity investment portfolio worth $1 billion in secondary market. -sources

The SEC has concluded its investigation into PayPal's dollar-backed stablecoin, PYUSD, without taking enforcement action. The SEC issued a subpoena in November 2023, but informed PayPal in February 2025 that the inquiry was closed. -source

US Ethereum spot ETF experienced a net inflow of $18.40 million on 29 Apr 2025

US Bitcoin spot ETF experienced a net inflow of $172.78 million on 29 Apr 2025

The Fed Speak Index (white line) is increasingly softer in tone. Federal reserve officials are talking more about recession & unemployment than about high inflation.

🚨China has created a secret list of US-made products exempt from its 125% tariffs and is discreetly informing companies -sources

Europe's second-largest digital bank Bunq announces partnership with Kraken to launch cryptocurrency services -source

World Gold Council: Total Q1 gold demand (inclusive of OTC investment) was 1% higher y/y at 1,206t, the highest for a first quarter since 2016. Surging ETF inflows were pivotal to gold's price rise

🚨Hedge funds loading up on shorts [remember Melvin Capital and all the hedge funds that were short in January 2021?]

🚨Morgan Stanley: China economic growth could drop below 4.5% in the second quarter because of tariffs, marking a decline of a full percentage point. Impact of tariffs will be most severe in the current quarter, as many exporters have suspended production and shipments to the US. Factories are quickly losing orders.

Australia and New Zealand Banking Group (ANZ) Research analysts have revised down their 2025 GDP growth forecast for China to 4.2% from 4.8%, citing increased headwinds from a faster decline in exports.

Spot gold -1% intraday [gold has topped, rotation into crypto has started]

🚨Barclays: China's manufacturing sector is beginning to show significant signs of distress due to the prohibitive tariff war.

PBOC: Conducted 1.2 trillion yuan ($164.4bn) outright reverse repo operations in April

UOB economist Ho Woei Chen: China's economy is likely to experience a significant slowdown as trade tensions persist.

🚨Hearing rumors about a US-China trade deal -sources

Shein considering restructuring its US operations in response to potential continued tariffs under the Trump administration -sources

US Treasury to sell $58 billion 3-year notes, $42 billion 10-year notes, $25 billion 30-year bonds next week.