The volatility of U.S. Treasuries may see the largest annual decline since 2009

Affected by the Federal Reserve's interest rate cuts, the volatility indicator of the U.S. bond market, the ICE BofA MOVE Index, is trending towards its largest annual decline since 2009. The index fell to about 59 last Friday, the lowest level since October 2024, significantly down from 99 at the end of 2024, and is expected to record one of the most severe annual declines since data began in 1988

Wallstreetcn·
US
BAC
-1.30%
Wallstreetcn·
US
BAC
-1.30%

Next week, the "Technology Spring Festival Gala" CES will open, and NVIDIA and others need to prove to the market that AI can drive sales

The upcoming CES exhibition in Las Vegas will serve as a key validation ground for whether AI hardware can penetrate the mass market. Tech giants like NVIDIA, Samsung, and Lenovo need to demonstrate to consumers that AI is not just a technical showcase but has actual purchasing value. The focus of the exhibition will be on categories such as AI smart glasses, humanoid robots, and health wearable devices

Wallstreetcn·
US
NVDA
-1.59%
US
NVDL
-3.26%
HK
07788
+0.69%
Wallstreetcn·
US
NVDA
-1.59%
US
NVDL
-3.26%
HK
07788
+0.69%

The China Concept Index fell 1.3% in early trading, with Alibaba down 2.9% and XPeng down 2.7%

The Nasdaq Golden Dragon China Index fell more than 1.3% at the beginning of trading, reaching 7576.48 points. Popular Chinese concept stocks such as Qifu Technology fell 4.75%, Zai Lab fell 4%, Alibaba and Miniso fell 2.9%, Global Data and XPeng fell 2.7%, Li Auto fell 2.1%, Yum China fell 1.8%, Atour fell 1.7%, Century Internet fell 1.4%, and Daqo New Energy, New Oriental, and Pony.ai also fell over 1%

Wallstreetcn·
US
BABA
-2.81%
HK
09988
-1.85%
US
MNSO
-2.45%
Wallstreetcn·
US
BABA
-2.81%
HK
09988
-1.85%
US
MNSO
-2.45%

After repeated delays of the Cybertruck, Tesla drastically reduced orders for high-nickel battery materials, with the supply contract from South Korea's L&F shrinking by 99%

Due to the delay of the Cybertruck project and Tesla's production strategy adjustments, the contract signed by its supplier, South Korea's L&F Company, for high-nickel cathode materials worth 3.83 trillion KRW has been reduced to only 973 million KRW, a decrease of about 99%. This material was originally planned for use in the Cybertruck battery, but the delay in the model and the shift in consumer preferences have led to a sharp decline in actual demand. In addition, policy changes such as the Inflation Reduction Act have also affected Tesla's procurement plans

Wallstreetcn·
US
TSLA
-2.47%
US
TSDD
+4.91%
US
TSLL
-4.86%
Wallstreetcn·
US
TSLA
-2.47%
US
TSDD
+4.91%
US
TSLL
-4.86%

The interest rate cut cycle impacts, U.S. private credit listed funds face their worst performance in five years

Due to multiple blows such as expectations of interest rate cuts, narrowing interest rate spreads, and rising credit pressures, U.S. BDCs are expected to decline by about 6.6% in 2025, marking the worst performance since 2020. The market is undergoing a deep adjustment: the era of double-digit returns has ended, investor redemption pressures have surged, and short interest has significantly increased. As a result, the industry is turning to new structures such as interval funds and seeking breakthroughs in areas like asset-backed financing, while private credit enters the second half of testing managers' risk control capabilities

Wallstreetcn·
US
WFC
-0.62%
Wallstreetcn·
US
WFC
-0.62%

No one is bearish! Wall Street unanimously expects US stocks to continue rising in 2026, but senior strategists are concerned about the consensus

According to a Bloomberg survey, none of the 21 strategists are bearish, predicting that the S&P 500 index will rise an average of 9% by 2026, achieving its fourth consecutive year of gains, which would set the longest winning streak in nearly two decades. Previously bearish institutions like JP Morgan have completely reversed their stance, raising their target to 7,500 points. However, senior strategists warn that when everyone is optimistic, it can be concerning, and a few cautious voices point out risks such as high valuations, Federal Reserve policies, and tariffs

Wallstreetcn·
US
JPM
-1.06%
Wallstreetcn·
US
JPM
-1.06%

OpenAI partners with Amazon, while Microsoft is buying the Anthropic model... The nine major AI giants in 2025 are in a complete mess

In 2025, the AI industry will enter the "full-stack" integration year, with nine major players expanding their humanoid robot and hardware landscape while becoming entangled in more complex interdependencies. Google, with TPU and Gemini 3, becomes a core supplier; OpenAI breaks free from its reliance on Microsoft through multi-cloud collaboration; Meta leads in devices but faces setbacks in models; xAI and Anthropic are quickly catching up. This deep restructuring of the industry chain prompts all parties to redefine competitive boundaries in the pursuit of independence and mutual checks and balances

Wallstreetcn·
US
MSFT
-0.27%
US
MSFL
-0.57%
US
MSFO
-0.19%
Wallstreetcn·
US
MSFT
-0.27%
US
MSFL
-0.57%
US
MSFO
-0.19%

Why did silver suddenly plunge? Veteran hedge fund managers warn of five short-term risks

Hedge fund veteran Campbell warns that silver faces short-term risks such as tax-driven year-end selling, pressure from a stronger dollar, margin hikes reducing leverage, technical overbought conditions, and threats from copper substitutes. In addition, the Bloomberg Commodity Index's rebalancing in January will force passive funds to sell positions equivalent to 9% of the open contracts in the silver futures market

Wallstreetcn·
US
ZSL
+18.92%
US
AGQ
-18.58%
US
SLV
-8.39%
Wallstreetcn·
US
ZSL
+18.92%
US
AGQ
-18.58%
US
SLV
-8.39%

JD.com has stirred up a storm

In 2026, Qixian Xiaochu plans to expand nationwide

Wallstreetcn·
US
JD
-1.05%
HK
09618
-0.71%
Wallstreetcn·
US
JD
-1.05%
HK
09618
-0.71%

Paving the way for "Stargate"? SoftBank plans to acquire DigitalBridge, targeting trillion-level data center assets

SoftBank is in deep negotiations to acquire the private equity firm DigitalBridge, with no final agreement reached yet. Following this news, DigitalBridge's stock price surged 45% in pre-market trading. If the acquisition is successful, SoftBank will directly control over $100 billion in data center assets. This move is seen as a key strategic initiative for SoftBank to advance its "Interstellar Gateway" AI computing power project and strengthen its data infrastructure layout

Wallstreetcn·
US
SOBKY
-0.29%
US
DBRG
+9.73%
Wallstreetcn·
US
SOBKY
-0.29%
US
DBRG
+9.73%

LEAPMOTOR aims to share the market with giants

Tear off the label of new forces

Wallstreetcn·
HK
09863
+0.92%
Wallstreetcn·
HK
09863
+0.92%
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