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On April 3rd, the Trump budget projects real GDP growth of 3.1% in fiscal year 2027. (JIN10)

[Trump Budget Projects 3.1% Real GDP Growth in FY2027]On April 3rd, the Trump budget projects real GDP growth of 3.1% in fiscal year 2027. (JIN10)

Trump Budget Projects 3.1% Real GDP Growth in FY2027

On April 3, Iranian media reported that the announcement from Chaharmahal and Bakhtiari Province regarding the U.S. pilot stated that village leaders and all groups in Lordegan, Faradon, Khanmirza, Ardal, Borujen, and Farskuh counties have been asked to make every effort to search for the U.S. pilot in their respective areas, while also seeking and reporting any information about U.S. and Israeli agents. The provincial governor promised special support and generous rewards to any team that successfully discovers and captures these individuals.

[Iran Mobilizes Forces to Search for U.S. Pilot]On April 3, Iranian media reported that the announcement from Chaharmahal and Bakhtiari Province regarding the U.S. pilot stated that village leaders and all groups in Lordegan, Faradon, Khanmirza, Ardal, Borujen, and Farskuh counties have been asked to make every effort to search for the U.S. pilot in their respective areas, while also seeking and reporting any information about U.S. and Israeli agents. The provincial governor promised special support and generous rewards to any team that successfully discovers and captures these individuals.

Iran Mobilizes Forces to Search for U.S. Pilot

On April 3rd, according to Lookonchain's monitoring, Circle minted 750 million USDC daily over the past four days, totaling an additional 3 billion USDC.

[Circle Mints 3 Billion USDC in Four Days]On April 3rd, according to Lookonchain's monitoring, Circle minted 750 million USDC daily over the past four days, totaling an additional 3 billion USDC.

Circle Mints 3 Billion USDC in Four Days

On April 3, the war in Iran has intensified the risk of global economic stagflation. KPMG's Chief Economist Diane Swonk stated that once stagflation takes hold, a 'deep recession' may be the only way out. Stagflation is a concerning economic scenario characterized by persistently high inflation and sluggish economic growth. Swonk remarked, 'The blockade of the Strait of Hormuz and the resulting surge in oil prices have impacts that extend far beyond a simple oil shock.' She believes that the current situation poses a greater shock than any historical oil crisis. This directly drives up costs across various sectors, leading to rising prices, while significantly reducing companies' willingness to hire, impacting the job market. Multiple intertwined factors are causing the risk of stagflation to escalate. Swonk's views align with those of market investors. She explained, 'The likelihood of the Federal Reserve raising interest rates in the second half of the year is increasing, and I expect the Fed will be forced to take this action, with other central banks following suit.' (Jin Shi)

[KPMG: Federal Reserve Likely to Be Forced to Raise Interest Rates in the Second Half of the Year]On April 3, the war in Iran has intensified the risk of global economic stagflation. KPMG's Chief Economist Diane Swonk stated that once stagflation takes hold, a 'deep recession' may be the only way out. Stagflation is a concerning economic scenario characterized by persistently high inflation and sluggish economic growth. Swonk remarked, 'The blockade of the Strait of Hormuz and the resulting surge in oil prices have impacts that extend far beyond a simple oil shock.' She believes that the current situation poses a greater shock than any historical oil crisis. This directly drives up costs across various sectors, leading to rising prices, while significantly reducing companies' willingness to hire, impacting the job market. Multiple intertwined factors are causing the risk of stagflation to escalate. Swonk's views align with those of market investors. She explained, 'The likelihood of the Federal Reserve raising interest rates in the second half of the year is increasing, and I expect the Fed will be forced to take this action, with other central banks following suit.' (Jin Shi)

KPMG: Federal Reserve Likely to Be Forced to Raise Interest Rates in the Second Half of the Year

On April 3, Jerry Tempelman, Vice President of Economic and Fixed Income Research at Mutual of America Capital Management, stated that the market is focused on the March non-farm report to verify the stability of the labor market. The addition of 178,000 jobs today helps alleviate concerns, while the slight change in the unemployment rate to 4.3% is not enough to trigger immediate attention. However, the slowdown characterized by 'low hiring, low layoffs' cannot be ignored. Regardless of how surprising last month's data was, the Federal Reserve's decision to maintain interest rates was already anticipated by the market. This outcome reflects policymakers' ongoing caution in balancing the short-term shocks felt across the economy with long-term economic stability. (Jinshi)

[Market Analysis: Non-Farm Payroll Surge Eases Employment Concerns, Fed's Cautious Stance Expected to Continue]On April 3, Jerry Tempelman, Vice President of Economic and Fixed Income Research at Mutual of America Capital Management, stated that the market is focused on the March non-farm report to verify the stability of the labor market. The addition of 178,000 jobs today helps alleviate concerns, while the slight change in the unemployment rate to 4.3% is not enough to trigger immediate attention. However, the slowdown characterized by 'low hiring, low layoffs' cannot be ignored. Regardless of how surprising last month's data was, the Federal Reserve's decision to maintain interest rates was already anticipated by the market. This outcome reflects policymakers' ongoing caution in balancing the short-term shocks felt across the economy with long-term economic stability. (Jinshi)

Market Analysis: Non-Farm Payroll Surge Eases Employment Concerns, Fed's Cautious Stance Expected to Continue

On April 3, according to The New York Times, US officials and Iranian state media reported on Friday that Iran shot down a US military fighter jet over its territory. The official stated that the fate of the aircraft's crew is unknown, and US officials are racing against time in search and rescue operations to act before Iran finds any survivors.

[US Official Confirms US Fighter Jet Shot Down Over Iran]On April 3, according to The New York Times, US officials and Iranian state media reported on Friday that Iran shot down a US military fighter jet over its territory. The official stated that the fate of the aircraft's crew is unknown, and US officials are racing against time in search and rescue operations to act before Iran finds any survivors.

US Official Confirms US Fighter Jet Shot Down Over Iran

On April 3, Trump requested $2.2 trillion for government agencies in the FY 2027 budget.

[Trump Requests $2.2 Trillion for Government Agencies in FY 2027 Budget]On April 3, Trump requested $2.2 trillion for government agencies in the FY 2027 budget.

Trump Requests $2.2 Trillion for Government Agencies in FY 2027 Budget

Scott Helfstein, Chief Investment Strategist at Global X, stated that although the employment report for March exceeded expectations, "the risks in the labor market remain high, and the rise in oil prices due to the conflict in Iran could pose additional obstacles in the coming months." Helfstein believes that the better-than-expected job growth in March may indicate that the Federal Reserve will maintain interest rates at current levels in its upcoming meeting later this month. However, he added, "We still believe that interest rates may be too high, and this is becoming increasingly evident in the mortgage market."

[Analysis: Risks in the U.S. Labor Market Remain High]Scott Helfstein, Chief Investment Strategist at Global X, stated that although the employment report for March exceeded expectations, "the risks in the labor market remain high, and the rise in oil prices due to the conflict in Iran could pose additional obstacles in the coming months." Helfstein believes that the better-than-expected job growth in March may indicate that the Federal Reserve will maintain interest rates at current levels in its upcoming meeting later this month. However, he added, "We still believe that interest rates may be too high, and this is becoming increasingly evident in the mortgage market."

Analysis: Risks in the U.S. Labor Market Remain High

On April 3, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated that PMI survey data indicates the U.S. economy is under pressure from rising prices and increasing uncertainty, exacerbated by the Middle East conflict, which has heightened concerns over recent policy decisions. The services sector has contracted for the first time since January 2023, dragging the overall economy down to an annualized growth rate of only 0.5% in March, a near-stagnation level. The consumer-facing services industry has been the most severely affected, with the decline in March being one of the largest since data collection began in 2009, aside from the pandemic lockdown period. The financial services and technology sectors, which performed strongly last year, are showing signs of weakening due to volatility in financial markets and concerns over rising interest rates. The key factor behind the deteriorating economic growth is a decline in spending, attributed to decreasing purchasing power, while soaring energy prices in March have significantly increased costs and sales prices. Survey data shows that businesses are increasingly willing to pass costs onto customers in the coming months, which could accelerate consumer price inflation to nearly 4%.

[U.S. Services Sector Contracts for the First Time in Three Years]On April 3, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated that PMI survey data indicates the U.S. economy is under pressure from rising prices and increasing uncertainty, exacerbated by the Middle East conflict, which has heightened concerns over recent policy decisions. The services sector has contracted for the first time since January 2023, dragging the overall economy down to an annualized growth rate of only 0.5% in March, a near-stagnation level. The consumer-facing services industry has been the most severely affected, with the decline in March being one of the largest since data collection began in 2009, aside from the pandemic lockdown period. The financial services and technology sectors, which performed strongly last year, are showing signs of weakening due to volatility in financial markets and concerns over rising interest rates. The key factor behind the deteriorating economic growth is a decline in spending, attributed to decreasing purchasing power, while soaring energy prices in March have significantly increased costs and sales prices. Survey data shows that businesses are increasingly willing to pass costs onto customers in the coming months, which could accelerate consumer price inflation to nearly 4%.

U.S. Services Sector Contracts for the First Time in Three Years

According to DailyHodl, macro expert and former Goldman Sachs executive Raoul Pal says that while negative sentiment across the crypto industry is at an all-time high, its fundamentals remain strong.
In a new interview with co-founder and host of Impact Theory Tom Bilyeu, Pal says investor negativity is higher than he has ever seen it, including during the Great Recession and the Dot.com bubble burst.
But Pal says the crypto space is bullish with widening adoption by institutional investors, noting that big tech is increasingly intertwining with the crypto industry.

Detail

【Macro guru Raoul Pal says crypto markets still fundamentally bullish despite peak negative sentiment】According to DailyHodl, macro expert and former Goldman Sachs executive Raoul Pal says that while negative sentiment across the crypto industry is at an all-time high, its fundamentals remain strong.
In a new interview with co-founder and host of Impact Theory Tom Bilyeu, Pal says investor negativity is higher than he has ever seen it, including during the Great Recession and the Dot.com bubble burst.
But Pal says the crypto space is bullish with widening adoption by institutional investors, noting that big tech is increasingly intertwining with the crypto industry.

Macro guru Raoul Pal says crypto markets still fundamentally bullish despite peak negative sentiment

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Article

Macro guru Raoul Pal says crypto markets still fundamentally bullish despite peak negative sentiment

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