Japan's Q1 GDP Expected to Show Second Quarter of Growth
Japan's economy likely expanded for a second consecutive quarter in Q1, fueled by recovering exports and solid domestic demand. A Reuters poll forecasts an annualized GDP growth of 1.7% for January-March, following a 1.3% rise in the previous quarter.
Private consumption and capital investment remained relatively firm. While Middle East tensions had a limited economic impact in Q1, analysts caution about potential future downside risks from higher crude oil prices and supply constraints. Net external demand contributed 0.2 percentage points to the growth.
This economic data will be a key factor for the Bank of Japan as it considers future interest rate adjustments. The preliminary Q1 GDP figures are due on May 19.
Japan's economy likely expanded for a second consecutive quarter in Q1, fueled by recovering exports and solid domestic demand. A Reuters poll forecasts an annualized GDP growth of 1.7% for January-March, following a 1.3% rise in the previous quarter.
Private consumption and capital investment remained relatively firm. While Middle East tensions had a limited economic impact in Q1, analysts caution about potential future downside risks from higher crude oil prices and supply constraints. Net external demand contributed 0.2 percentage points to the growth.
This economic data will be a key factor for the Bank of Japan as it considers future interest rate adjustments. The preliminary Q1 GDP figures are due on May 19.
GE Aerospace CEO Visits China's State Planner
GE Aerospace CEO Larry Culp was in Beijing Friday, visiting the headquarters of China's powerful state planner, the National Development and Reform Commission (NDRC). This follows China's agreement to order 200 Boeing jets, a deal struck after President Trump's talks with Xi Jinping.
This marks China's first US-made commercial jet purchase in nearly a decade. As Boeing's primary engine supplier, GE Aerospace stands to benefit, despite the order falling short of market expectations. Culp is part of a US business delegation accompanying Trump. GE Aerospace offered no immediate comment on the visit's purpose.
GE Aerospace CEO Larry Culp was in Beijing Friday, visiting the headquarters of China's powerful state planner, the National Development and Reform Commission (NDRC). This follows China's agreement to order 200 Boeing jets, a deal struck after President Trump's talks with Xi Jinping.
This marks China's first US-made commercial jet purchase in nearly a decade. As Boeing's primary engine supplier, GE Aerospace stands to benefit, despite the order falling short of market expectations. Culp is part of a US business delegation accompanying Trump. GE Aerospace offered no immediate comment on the visit's purpose.
Senate Confirms Kevin Warsh as New Fed Chair
The U.S. Senate has confirmed Kevin Warsh, a 56-year-old lawyer and financier, as the next Federal Reserve Chair. He assumes leadership from Jerome Powell, whose term ends Friday, as the central bank grapples with rising inflation and interest rate debates.
His confirmation followed Republican-majority approval, with Senator Thom Tillis lifting his blockade after the DOJ cleared Powell of a renovation inquiry. Many Democrats opposed Warsh, fearing for the central bank's monetary policy independence and questioning his autonomy from the Trump administration. Powell will remain a Fed governor.
Warsh has pledged to shrink the Fed's $6.7 trillion balance sheet, calling its bond holdings "__fiscal policy in disguise__." His tenure begins amid debates on potential rate hikes to combat inflation spreading beyond tariffs and oil price impacts.
The U.S. Senate has confirmed Kevin Warsh, a 56-year-old lawyer and financier, as the next Federal Reserve Chair. He assumes leadership from Jerome Powell, whose term ends Friday, as the central bank grapples with rising inflation and interest rate debates.
His confirmation followed Republican-majority approval, with Senator Thom Tillis lifting his blockade after the DOJ cleared Powell of a renovation inquiry. Many Democrats opposed Warsh, fearing for the central bank's monetary policy independence and questioning his autonomy from the Trump administration. Powell will remain a Fed governor.
Warsh has pledged to shrink the Fed's $6.7 trillion balance sheet, calling its bond holdings "__fiscal policy in disguise__." His tenure begins amid debates on potential rate hikes to combat inflation spreading beyond tariffs and oil price impacts.
Russian Gold Producer Stake Auction Fails
Russia's auction of a 67.2% stake in gold producer Uzhuralzoloto, seized from businessman Konstantin Strukov, failed to attract any bidders. The federal agency Rosimushchestvo had valued the stake at 140.43 billion roubles.
The sale was declared invalid due to a lack of applications by the submission deadline. A court ruling in July had transferred the majority stake to state ownership, part of Russia's broader asset nationalizations. Uzhuralzoloto is one of Russia's top 10 gold mining companies.
Russia's auction of a 67.2% stake in gold producer Uzhuralzoloto, seized from businessman Konstantin Strukov, failed to attract any bidders. The federal agency Rosimushchestvo had valued the stake at 140.43 billion roubles.
The sale was declared invalid due to a lack of applications by the submission deadline. A court ruling in July had transferred the majority stake to state ownership, part of Russia's broader asset nationalizations. Uzhuralzoloto is one of Russia's top 10 gold mining companies.
Dune Analytics Cuts 25% of Staff, Shifts Focus to AI and Institutions
Dune Analytics announced a major restructuring, leading to a 25% reduction in its workforce. CEO Fredrik Haga stated the move aims to sharpen focus on core data products, AI implementation, and institutional clients.
The platform will prioritize AI integration and catering to traditional finance, expecting a mass migration of assets to blockchain. They also launched Dune MCP for simplified dashboard creation without SQL knowledge. Haga assured the company retains sufficient capital and continues to ensure on-chain data accessibility.
This trend is not isolated. Coinbase and Block also announced cuts, with DL News closing due to similar shifts. OpenAI's Sam Altman previously suggested AI is sometimes an excuse for layoffs, while Snap replaced 1000 employees with AI to save $500M.
Dune Analytics announced a major restructuring, leading to a 25% reduction in its workforce. CEO Fredrik Haga stated the move aims to sharpen focus on core data products, AI implementation, and institutional clients.
The platform will prioritize AI integration and catering to traditional finance, expecting a mass migration of assets to blockchain. They also launched Dune MCP for simplified dashboard creation without SQL knowledge. Haga assured the company retains sufficient capital and continues to ensure on-chain data accessibility.
This trend is not isolated. Coinbase and Block also announced cuts, with DL News closing due to similar shifts. OpenAI's Sam Altman previously suggested AI is sometimes an excuse for layoffs, while Snap replaced 1000 employees with AI to save $500M.
Brazil Police Target Ex-Rio Governor, Refit Owner in Tax Probe
Brazilian federal police are investigating former Rio de Janeiro governor Claudio Castro and Refit refinery owner Ricardo Magro. The probe focuses on a fuel industry conglomerate suspected of tax evasion, asset concealment, and transferring funds abroad.
The Supreme Court has frozen approximately 52 billion reais ($10.4 billion) in assets and suspended the implicated companies' operations. A suspect is also slated for an Interpol Red Notice.
This development follows President Lula's past call for the US to arrest the Refit owner, who resides there. Castro resigned in March and was previously barred from office for eight years over electoral misconduct.
Brazilian federal police are investigating former Rio de Janeiro governor Claudio Castro and Refit refinery owner Ricardo Magro. The probe focuses on a fuel industry conglomerate suspected of tax evasion, asset concealment, and transferring funds abroad.
The Supreme Court has frozen approximately 52 billion reais ($10.4 billion) in assets and suspended the implicated companies' operations. A suspect is also slated for an Interpol Red Notice.
This development follows President Lula's past call for the US to arrest the Refit owner, who resides there. Castro resigned in March and was previously barred from office for eight years over electoral misconduct.
Iran Demands Release of Citizens Detained by Kuwait
Iran's Foreign Minister stated Kuwait unlawfully attacked an Iranian boat, detaining four citizens in the Gulf. Tehran demands their immediate release and reserves response rights.
Kuwait had announced it arrested four alleged Revolutionary Guards members attempting sea infiltration. This marks the latest regional tension between the nations.
Iran's Foreign Minister stated Kuwait unlawfully attacked an Iranian boat, detaining four citizens in the Gulf. Tehran demands their immediate release and reserves response rights.
Kuwait had announced it arrested four alleged Revolutionary Guards members attempting sea infiltration. This marks the latest regional tension between the nations.
Treasury Yields Surge to May 2025 Highs Amid Oil Jumps & Inflation
Longer-dated Treasury yields hit May 2025 highs Friday, driven by a 3% oil price surge. Trump's comments on Iran amplified fears of Middle East energy disruptions, boosting inflation concerns.
This week's data already showed US consumer prices at a three-year high and producer prices seeing their largest jump in four years. The 2-year note yield climbed to 4.062%, the 10-year to 4.552%, and the 30-year to 5.0992% – all reaching levels last seen in March/May 2025.
Longer-dated Treasury yields hit May 2025 highs Friday, driven by a 3% oil price surge. Trump's comments on Iran amplified fears of Middle East energy disruptions, boosting inflation concerns.
This week's data already showed US consumer prices at a three-year high and producer prices seeing their largest jump in four years. The 2-year note yield climbed to 4.062%, the 10-year to 4.552%, and the 30-year to 5.0992% – all reaching levels last seen in March/May 2025.
BoE Rates Seen Stable, Yet Hike Calls Grow Amid Inflation Fears
A Reuters poll suggests the Bank of England will hold borrowing costs at 3.75% this year. However, nearly 40% of economists now foresee at least one rate hike, a significant shift. This change is fueled by the Iran war's impact on energy prices, pushing inflation forecasts higher to 3.6% by Q4, well above the 2% target.
Financial markets, meanwhile, price in two rises. Despite Governor Bailey's caution against expecting hikes, BoE chief economist Huw Pill voted for an increase last month. Analysts, including HSBC, are adjusting their models, with some now predicting multiple hikes. While tight financial conditions might ease pressure, renewed cost-of-living strains are anticipated, adding complexity to the BoE's future decisions.
A Reuters poll suggests the Bank of England will hold borrowing costs at 3.75% this year. However, nearly 40% of economists now foresee at least one rate hike, a significant shift. This change is fueled by the Iran war's impact on energy prices, pushing inflation forecasts higher to 3.6% by Q4, well above the 2% target.
Financial markets, meanwhile, price in two rises. Despite Governor Bailey's caution against expecting hikes, BoE chief economist Huw Pill voted for an increase last month. Analysts, including HSBC, are adjusting their models, with some now predicting multiple hikes. While tight financial conditions might ease pressure, renewed cost-of-living strains are anticipated, adding complexity to the BoE's future decisions.
US, Japan Pledge "Robust" FX Coordination Amid Yen Volatility
US Treasury Secretary Scott Bessent highlighted "constant and robust" coordination with Japan on "undesirable, excessively volatile" currency moves following talks with Japanese Finance Minister Satsuki Katayama in Tokyo. This implies Washington's broad understanding of Japan's recent yen-buying intervention, aimed at countering its weakening currency and rising import costs.
Katayama confirmed Japan's responses align with a joint US-Japan statement permitting intervention against excessive market volatility. She emphasized the ongoing need for close coordination. While markets hoped for stronger warnings against yen weakness, Bessent's statements underscored continued cooperation. Bessent also met with Japan's METI minister to strengthen ties in energy and critical minerals.
US Treasury Secretary Scott Bessent highlighted "constant and robust" coordination with Japan on "undesirable, excessively volatile" currency moves following talks with Japanese Finance Minister Satsuki Katayama in Tokyo. This implies Washington's broad understanding of Japan's recent yen-buying intervention, aimed at countering its weakening currency and rising import costs.
Katayama confirmed Japan's responses align with a joint US-Japan statement permitting intervention against excessive market volatility. She emphasized the ongoing need for close coordination. While markets hoped for stronger warnings against yen weakness, Bessent's statements underscored continued cooperation. Bessent also met with Japan's METI minister to strengthen ties in energy and critical minerals.
Copper Plunges Amid Strong Dollar, Weak China Data
Copper prices hit a week-low Monday, pressured by a robust U.S. dollar, disappointing economic figures from top consumer China, and rising oil prices.
The London Metal Exchange's benchmark three-month contract dropped 2.75% to $13,555.00 per metric ton. This decline highlights the impact of currency shifts and China's economic health on industrial metals.
Copper prices hit a week-low Monday, pressured by a robust U.S. dollar, disappointing economic figures from top consumer China, and rising oil prices.
The London Metal Exchange's benchmark three-month contract dropped 2.75% to $13,555.00 per metric ton. This decline highlights the impact of currency shifts and China's economic health on industrial metals.
New Zealand Inflation Expectations Climb in Q2
A recent Reserve Bank of New Zealand (RBNZ) survey indicates a projected rise in the nation's near-term inflation over the next two years. Two-year inflation expectations, a key metric for RBNZ policy, increased to 2.53% in Q2 from 2.37% in Q1. Additionally, the survey revealed a jump in one-year price increase forecasts, reaching 3.41% from 2.59% previously.
A recent Reserve Bank of New Zealand (RBNZ) survey indicates a projected rise in the nation's near-term inflation over the next two years. Two-year inflation expectations, a key metric for RBNZ policy, increased to 2.53% in Q2 from 2.37% in Q1. Additionally, the survey revealed a jump in one-year price increase forecasts, reaching 3.41% from 2.59% previously.
Samsung Strike Threatens South Korea's Economy
Finance Minister Koo Yun-cheol warned a potential Samsung Electronics strike poses a significant risk to South Korea's economic growth, exports, and markets. The chipmaking giant and its union failed to agree on a pay deal. Unionized workers plan an 18-day strike beginning May 21.
Finance Minister Koo Yun-cheol warned a potential Samsung Electronics strike poses a significant risk to South Korea's economic growth, exports, and markets. The chipmaking giant and its union failed to agree on a pay deal. Unionized workers plan an 18-day strike beginning May 21.
Bhutan Denies Major Bitcoin Reserve Sale
A representative for Druk Holding and Investments (DHI) has refuted claims that Bhutan sold off a significant portion of its national Bitcoin reserve.
According to Arkham Intelligence, the kingdom held approximately 13,000 BTC at its peak, but much was reportedly moved and sold, with only 3121 BTC remaining in a tracked wallet. Despite DHI's denial ("_I don't recall when we last sold Bitcoins_"), the representative declined to comment on fund movements, nor did they deny Arkham's tracked addresses or confirm remaining crypto volumes. Arkham analysts suggest transfers to centralized exchanges like OKX and Galaxy Digital strongly indicate sales.
A representative for Druk Holding and Investments (DHI) has refuted claims that Bhutan sold off a significant portion of its national Bitcoin reserve.
According to Arkham Intelligence, the kingdom held approximately 13,000 BTC at its peak, but much was reportedly moved and sold, with only 3121 BTC remaining in a tracked wallet. Despite DHI's denial ("_I don't recall when we last sold Bitcoins_"), the representative declined to comment on fund movements, nor did they deny Arkham's tracked addresses or confirm remaining crypto volumes. Arkham analysts suggest transfers to centralized exchanges like OKX and Galaxy Digital strongly indicate sales.
Gold Steady as Trump-Xi Talks Loom, Inflation Worries Persist
Gold prices remained flat in Asian trading, holding at $4,691.12 an ounce, as markets awaited a crucial summit between U.S. President Trump and Chinese President Xi Jinping. Investors are seeking clarity on trade, the Iran conflict, and global supply chains.
While geopolitical tensions in the Middle East and Strait of Hormuz offered some traditional safe-haven support for bullion, significant headwinds emerged. Stronger-than-expected U.S. inflation data, driven by rising energy costs, reinforced expectations of the Federal Reserve maintaining higher interest rates for longer. This, coupled with a surging U.S. Dollar, diminished gold's appeal as a non-yielding asset and made it costlier for international buyers.
Oil prices above $100 a barrel continued to fuel inflation fears. Additionally, India's decision to raise import duties on gold and silver could impact demand in a major consumer market. Silver and platinum saw modest
Gold prices remained flat in Asian trading, holding at $4,691.12 an ounce, as markets awaited a crucial summit between U.S. President Trump and Chinese President Xi Jinping. Investors are seeking clarity on trade, the Iran conflict, and global supply chains.
While geopolitical tensions in the Middle East and Strait of Hormuz offered some traditional safe-haven support for bullion, significant headwinds emerged. Stronger-than-expected U.S. inflation data, driven by rising energy costs, reinforced expectations of the Federal Reserve maintaining higher interest rates for longer. This, coupled with a surging U.S. Dollar, diminished gold's appeal as a non-yielding asset and made it costlier for international buyers.
Oil prices above $100 a barrel continued to fuel inflation fears. Additionally, India's decision to raise import duties on gold and silver could impact demand in a major consumer market. Silver and platinum saw modest
Ex-BOJ Chief Kuroda: Yen Unlikely to Breach 160/Dollar
Former Bank of Japan Governor Haruhiko Kuroda stated the yen is unlikely to weaken beyond 160 per dollar, citing apparent intervention by authorities. He considers 120-130 as an equilibrium based on Japan's fundamentals, contrasting with the current ~157.80.
Kuroda attributed the yen's downtrend to rising oil import costs post-Ukraine war and the interest rate divergence between Japan and the U.S. He affirmed Japan's economy is in "extremely good shape," with inflation near the 2% target, driven by solid wage gains. The rise in 10-year JGB yields to ~2.58% is natural given the central bank's gradual rate hikes and inflation.
Former Bank of Japan Governor Haruhiko Kuroda stated the yen is unlikely to weaken beyond 160 per dollar, citing apparent intervention by authorities. He considers 120-130 as an equilibrium based on Japan's fundamentals, contrasting with the current ~157.80.
Kuroda attributed the yen's downtrend to rising oil import costs post-Ukraine war and the interest rate divergence between Japan and the U.S. He affirmed Japan's economy is in "extremely good shape," with inflation near the 2% target, driven by solid wage gains. The rise in 10-year JGB yields to ~2.58% is natural given the central bank's gradual rate hikes and inflation.
China's Foreign Exchange Reserves Hit $3.41 Trillion in April
China's foreign exchange reserves climbed to $3.411 trillion last month, surpassing expectations. This figure is up from March's $3.342 trillion and exceeded the $3.36 trillion forecast.
The increase was primarily due to a broad weakening of the U.S. dollar in April. The yuan strengthened 0.83% against the dollar, while the dollar itself declined 1.76% against a basket of major currencies. China holds the world's largest foreign currency stockpile.
China's foreign exchange reserves climbed to $3.411 trillion last month, surpassing expectations. This figure is up from March's $3.342 trillion and exceeded the $3.36 trillion forecast.
The increase was primarily due to a broad weakening of the U.S. dollar in April. The yuan strengthened 0.83% against the dollar, while the dollar itself declined 1.76% against a basket of major currencies. China holds the world's largest foreign currency stockpile.
Bitget Launches IWD Campaign Under Blockchain4Her
Crypto exchange Bitget is rolling out online and offline initiatives for International Women's Day, expanding its __Blockchain4Her__ program to attract women to the blockchain industry.
The campaign centers on the question: "How can mass adoption be achieved without women?" It features a social media video series combating gender bias in Web3, inviting users and leaders to share experiences on inclusive structures. Bitget CEO Gracie Chen stressed recognizing women's impact, especially in finance.
A limited-edition card, co-issued with Bitget Wallet for March 8, will enable Mastercard/Visa payments in over 50 countries (Europe, LatAm, APAC). Offline, the __Lady Forward__ concept continues with workshops, networking, and panels across Southeast Asia, Europe, CIS, and Latin America. __Blockchain4Her__ has previously reached thousands, reducing entry barriers for women in crypto.
Crypto exchange Bitget is rolling out online and offline initiatives for International Women's Day, expanding its __Blockchain4Her__ program to attract women to the blockchain industry.
The campaign centers on the question: "How can mass adoption be achieved without women?" It features a social media video series combating gender bias in Web3, inviting users and leaders to share experiences on inclusive structures. Bitget CEO Gracie Chen stressed recognizing women's impact, especially in finance.
A limited-edition card, co-issued with Bitget Wallet for March 8, will enable Mastercard/Visa payments in over 50 countries (Europe, LatAm, APAC). Offline, the __Lady Forward__ concept continues with workshops, networking, and panels across Southeast Asia, Europe, CIS, and Latin America. __Blockchain4Her__ has previously reached thousands, reducing entry barriers for women in crypto.
SEC Shift Fuels Trump Crypto Speculation
New US guidelines reclassify most crypto as commodities/digital tools, not securities, reducing oversight. Insiders suggest this benefits the Trump family’s crypto ventures, coinciding with the Strategic Crypto Reserve's expansion (200,000 BTC, ETH, SOL). Markets show a pivot to institutional accumulation.
The __TRUMP__ token consolidates above $3.27 ahead of its April 25 Mar-a-Lago gala. This event, offering top holders private access, is seen as a critical liquidity catalyst. A break above $3.80 could target $4.50; failure at $3.00 might redirect capital.
__LiquidChain__ ($LIQUID) addresses Strategic Reserve asset fragmentation. This Layer 3 project unifies Bitcoin, Ethereum, and Solana into a "Unified Liquidity Layer," aligning with new regulatory exemptions. Attracting smart money, its presale raised $600K+ at $0.0143, offering 1700% staking rewards. It's positioned as "the glue for the next market cycle."
New US guidelines reclassify most crypto as commodities/digital tools, not securities, reducing oversight. Insiders suggest this benefits the Trump family’s crypto ventures, coinciding with the Strategic Crypto Reserve's expansion (200,000 BTC, ETH, SOL). Markets show a pivot to institutional accumulation.
The __TRUMP__ token consolidates above $3.27 ahead of its April 25 Mar-a-Lago gala. This event, offering top holders private access, is seen as a critical liquidity catalyst. A break above $3.80 could target $4.50; failure at $3.00 might redirect capital.
__LiquidChain__ ($LIQUID) addresses Strategic Reserve asset fragmentation. This Layer 3 project unifies Bitcoin, Ethereum, and Solana into a "Unified Liquidity Layer," aligning with new regulatory exemptions. Attracting smart money, its presale raised $600K+ at $0.0143, offering 1700% staking rewards. It's positioned as "the glue for the next market cycle."
Bioventus Surpasses Q4 Forecasts, 2026 Revenue Guidance Aligns
Bioventus reported robust Q4 results, with adjusted EPS at $0.24, exceeding the $0.20 estimate. Revenue reached $157.9 million, topping the $156.08 million forecast and marking a 2.8% year-over-year increase. Organic revenue surged 10% YoY, driven by strong growth in Pain Treatments and Surgical Solutions.
CEO Rob Claypoole highlighted "strong Q4 performance," portfolio strengthening, and improved financials. Adjusted EBITDA rose 30% to $36.7 million, and cash from operations dramatically increased 97% to $38.0 million.
For fiscal 2026, the company projects revenue of $600-610 million, with its $605 million midpoint slightly __above__ analyst consensus. However, adjusted EPS guidance of $0.73-$0.77 (midpoint $0.75) is slightly __below__ the $0.77 estimate.
Bioventus reported robust Q4 results, with adjusted EPS at $0.24, exceeding the $0.20 estimate. Revenue reached $157.9 million, topping the $156.08 million forecast and marking a 2.8% year-over-year increase. Organic revenue surged 10% YoY, driven by strong growth in Pain Treatments and Surgical Solutions.
CEO Rob Claypoole highlighted "strong Q4 performance," portfolio strengthening, and improved financials. Adjusted EBITDA rose 30% to $36.7 million, and cash from operations dramatically increased 97% to $38.0 million.
For fiscal 2026, the company projects revenue of $600-610 million, with its $605 million midpoint slightly __above__ analyst consensus. However, adjusted EPS guidance of $0.73-$0.77 (midpoint $0.75) is slightly __below__ the $0.77 estimate.
US Agencies to Ditch Anthropic AI
President Trump has ordered all federal agencies to cease using Anthropic AI within six months. "We don't need it, we don't want it, and we won't do business with them anymore!" he stated.
The directive stems from Anthropic's strict ethical policies, which prohibit its Claude model from mass surveillance or autonomous lethal operations. This stance clashed with the Pentagon, despite a prior $200M contract.
Defense Secretary Pete Hegseth previously noted the DoD "will not use models that do not allow for waging wars," labeling Anthropic a "supply chain risk" after frustrations grew, including Claude's use in a Maduro capture operation.
Anthropic's CEO affirmed prioritizing democratic values over military cooperation on "mass domestic surveillance" and "fully autonomous weapons."
President Trump has ordered all federal agencies to cease using Anthropic AI within six months. "We don't need it, we don't want it, and we won't do business with them anymore!" he stated.
The directive stems from Anthropic's strict ethical policies, which prohibit its Claude model from mass surveillance or autonomous lethal operations. This stance clashed with the Pentagon, despite a prior $200M contract.
Defense Secretary Pete Hegseth previously noted the DoD "will not use models that do not allow for waging wars," labeling Anthropic a "supply chain risk" after frustrations grew, including Claude's use in a Maduro capture operation.
Anthropic's CEO affirmed prioritizing democratic values over military cooperation on "mass domestic surveillance" and "fully autonomous weapons."