MONEY MASTER

Key Takeaways Stephen Miran sworn in  as Fed governor, joining from Trump’s economic team. Lisa Cook remains in place  after court blocks Trump’s attempt to fire her. Fed expected to cut rates  25 bps to 4.00%-4.25% ; projections and Powell’s press conference closely watched. Investors pricing in  three cuts for 2025 , versus Fed’s earlier signal of two. Political tension over Fed independence lingers, but market reaction muted so far. What Happened The Fed began its two-day policy meeting under unusual circumstances: Stephen Miran, on leave from Trump’s White House, officially joined the Board of Governors, while Lisa Cook secured a temporary legal victory allowing her to remain after Trump sought to oust her. Markets are largely brushing aside the personnel drama, focusing instead on today’s  rate decision and updated economic projections . Powell’s press conference will be crucial in shaping expectations around the pace of cuts. Market Context Data shows...

Key Takeaway Weak U.S. labor data pushed traders to almost fully price in a  September Fed rate cut , sending Treasuries and tech stocks higher. Markets now anticipate at least  two cuts in 2025 , with Friday’s payrolls report as the next key test. Market Snapshot S&P 500 : +0.5% to 6,438.26 Nasdaq Composite : +1% to 21,497.73 Dow Jones : –0.1% to 45,271.23 30Y Treasury Yield : Near 5% before rebounding USD : Weaker; Dollar Index fell Gold : Record US$3,640.10 (+1.3%) on rate cut bets Key Drivers JOLTS Report : Job openings fell to 10-month low, signaling softer labor demand. Fed Expectations : Traders now see 95%+ chance of a 25bps cut in September; at least two cuts priced in for 2025. Tech Rally : Alphabet hit record high (Google Chrome ruling). Apple advanced on AI-powered Siri search plans. Corporate Moves : Salesforce warned on weaker sales growth after hours. Fed & Analyst Commentary Fed Governor Waller : Supports starting cuts in September, with debate over pac...

Asian markets opened cautiously Thursday, following a volatile night on Wall Street that saw traders react sharply to political noise from the White House. The Spark: Powell in the Crosshairs Markets reeled briefly after reports surfaced that President  Trump might remove Fed Chair Jerome Powell . Though Trump later walked back the threat — saying he's "not planning on doing anything" — the damage was done.   "Immediate crisis may have passed, but the saga isn't over,"  said JPMorgan’s Michael Feroli. Global Market Snapshot: S&P 500 futures : -0.2% (after a 0.3% gain overnight) Japan & South Korea equities : Down MSCI Asia index : Flat US 10Y yield : +1bps to 4.46% Dollar Index : +0.1% (after softening Wednesday) The Bigger Risk Analysts warn that if Trump  does  follow through, markets could face: USD drop of 3–4% 30–40bps Treasury yield spike Global confidence shock Deutsche Bank’s George Saravelos : Firing Powell is an  underpriced risk  tha...

The  S&P 500 closed Q2 2025 at a record high , capping its strongest quarterly performance since Q4 2023 with a  +25% rally from April lows , led by continued tech sector strength and growing optimism over Fed rate cuts. However, markets are also facing  elevated valuation risks , geopolitical volatility, and upcoming macro data that may determine whether this momentum can persist. Market Highlights S&P 500  topped the  6,200 level , led by megacap techs (Apple +X%, Oracle +Y% on $30B cloud deal). Treasuries  posted their best 1H performance in five years;  yields softened  on dovish Fed expectations. USD weakened  for the fifth consecutive month — its longest decline since 2017. Global equities  remain resilient despite tariff threats and geopolitical shocks. Gold and crude diverged : Gold up on haven demand; crude down amid OPEC+ output expectations. Analyst Insights: Positioning for H2 2025 Fed Pivot Still Central to Market Na...

  Market Overview: With the July 9 tariff deadline approaching, uncertainty remains high. Partial deals may be announced, but many will leave key issues unresolved. Countries without deals risk higher tariffs, impacting sectors like semiconductors, autos, industrials, and pharmaceuticals. Mixed signals from the White House continue to fuel volatility. Sector Impact & Investment Implications: Export-Heavy Sectors:  Expect short-term volatility. Firms with weak pricing power or heavy foreign exposure could see margin pressures. Defensive & Domestic Plays:  Utilities, consumer staples, and selective REITs could outperform as investors seek stability. Safe-Haven Assets:  Gold, USD, and defense-related names may see steady inflows during uncertainty. Money Master Insight: Maintain a  neutral-to-cautious stance  on trade-sensitive sectors. Prioritize companies with flexible supply chains. Look to accumulate quality names on dips post-deadline. Focus on fi...

  What's Happening: Trump is likely  ending the 90-day tariff pause  on July 9. Instead of extending negotiations, he plans to  impose tariffs unilaterally , ranging from  20%-50% , depending on trade deficits and how countries treat U.S. interests. Potential Market Impact: Manufacturing & Industrial:  New tariffs could increase  input costs , squeezing margins. Agriculture:  Higher tariffs may invite  retaliatory measures , hurting U.S. farm exports. Retail & Consumer:  Potential rise in  imported goods prices , adding inflationary pressures. Currency Markets:  Trade tensions often push  USD higher , weigh on emerging market currencies. Key Dates: July 9:  Watch for formal announcement or extension. Money Master Take: Tariffs could be used as a tool for  negotiation leverage  ahead of elections. Monitor companies with  large overseas exposure , particularly in China, India, EU markets. Keep an ...

My personal take on the Ringgit's weakness that have continued The Malaysian Ringgit's weakness persists, and have reached close to level not seen since the Asian Financial crisis in 1997.  And if you are not concern, then this chart should show you otherwise.  Malaysian Ringgit was the second worst currency performing in Asia, behind the Japanese yen, ever since Donald Trump's surprise victory in the presidential election in the United States. Here are some of the things that have been said about the Ringgit. 1) The Ringgit has suffered more in general because of the higher percentage of foreign holding in the bond market. 2) Uncertainties over Trump's policy once he takes over has caused concern over emerging market and Ringgit. 3) Fundamentals have not change. The Ringgit is undervalued, but uncertainties are making it less attractive.  Honestly, it's difficult to tell if it's really just Trump that had caused the wea...

TheEdge Markets has reported that global semiconductor sales fell 3% year-on-year in November last year, according to the US-based Semiconductor Industry Association (SIA). SIA, representing U.S. leadership in semiconductor manufacturing, design, and research, yesterday announced worldwide sales of semiconductors reached $28.9 billion for the month of November 2015, 0.3 percent lower than the previous month’s total of $29.0 billion and 3.0 percent down from the November 2014 total of $29.8 billion. All monthly sales numbers are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average. A drop in sales for global semiconductor sales, source: WSTS Source: http://www.design-reuse.com/news/38963/november-2015-semiconductor-sales.html Well, if you are looking at Bursa Malaysia, it is normal to look at the export stocks these days especially given how RM has dropped so much from just a year ago. The weakened Ri...