forex cross rate

According to the Financial Times: The First Minister of Wales from the Plaid Cymru Party has challenged "future Prime Minister" Andy Burnham to prove his commitment to devolution policies by devolving a series of new powers to the Welsh Government in Cardiff.

According to the Financial Times: U.S. small-cap stocks surged as investors looked beyond large technology stocks.

Baidu (09888.HK)'s decline widened to 10%.

Japan's 5-year government bond yield fell 3.5 basis points to 1.960%.

Last week, a New York Times reporter received a subpoena citing "alleged violations of federal criminal law" just two days after publishing a story that contradicted Trump's claims about a new Air Force One gifted from Qatar. Journalists involved strongly suspect that the subpoenas were hastily issued by Trump out of anger over news coverage. Joe Kahn, executive editor of The New York Times, said in a memo to staff that the subpoenas were "impulsive" and condemned the "blatant intimidation of individual journalists" to prevent reporting. Kahn said the law protects newsgatherers from such retaliatory abuses of prosecutorial power, The courts must reaffirm this protection and stop this overreach. We are confident they will do so in this case. Although "abuse" of legal powers by journalists has always been highly controversial, officials in previous administrations have sometimes argued that it is a last resort after other avenues of investigation have been exhausted. This time, sending the subpoena seems more like the first action taken. FBI Director Kash Patel was summoned to the White House for a meeting on the leak investigation on Friday, shortly before the subpoena was served to a New York Times reporter. Renowned First Amendment lawyer Floyd Abrams said, He couldn't think of any precedent where the president himself could intervene in such a matter so directly. It is even more unimaginable that there is any situation where there is such sufficient evidence that the president personally made the decision to force the media to hand over their sources. “And most importantly,” Abrams continued, “I can’t think of any topic where the public wants to know the truth so urgently and where that desire to know is so completely legitimate.”

Michael Burry, the prototype of the movie "The Big Short," recently released a detailed analysis report on Fannie Mae and Freddie Mac, pointing out that U.S. President Trump's decisions may trigger the next housing crisis. Both companies are government-backed and guarantee the vast majority of U.S. mortgages. The key to the entire investment deal lies in a decision that the U.S. Treasury Department has yet to make. If the government forgives the $193 billion in debt that the two companies still nominally owe, the company's stock price may immediately increase by 3 to 4 times, and in the long term, the increase may even reach 6 to 7 times. But if the debt is not forgiven, Shares of both companies are set to fall into the low single digits. Burry also dug into the filings of the two companies with the U.S. Securities and Exchange Commission (SEC) and found that: Fannie Mae’s bad loan write-offs surged from $61 million to $243 million in one year; its largest mortgage partner was forced to buy back $221.6 million worth of fraudulent loans.