Equities: Growth downgrades and rotation theme – BNY

The post SWIFT Bridges TradFi and Distributed Ledger Technology With 17 Banks SWIFT Bridges TradFi and Distributed Ledger Technology With 17 Banks appeared on BitcoinEthereumNews.com. SWIFT has introduced its own blockchain-based shared ledger after nine months of development. The pilot project is moving into operational use with 17 major banks set to pioneer tokenised cross-border payments. The banks are ANZ, BNP Paribas, BNY, Citi, DBS, First Abu Dhabi Bank, FirstRand Bank, HSBC, Itaú Unibanco, Lloyds Bank, Mashreq, MUFG Bank, OCBC, Standard Chartered, UBS, UOB, and Wells Fargo. It combines distributed ledger technology and the existing secure messaging network used by SWIFT, which covers more than 200 markets. The goals of this project are simple: improved liquidity transparency of cash flows ability to seamlessly enable token recognition This is NOT an alternative to SWIFT. It’s an extension of it. Carl Slabicki, head of commercial, global payments & trade at BNY, said: “We are ple

The post South Korean Won: Oil-linked range view into BoK meeting – Commerzbank appeared on BitcoinEthereumNews.com. Commerzbank’s Charlie Lay argues that elevated South Korean inflation strengthens the case for a 25bp Bank of Korea (BoK) hike to 2.75% on 16 July. USD/KRW has fallen from 1560 to 1506 on earlier Oil weakness, but the bank now expects the pair to trade in a 1500–1520 range, with Oil prices and global risk sentiment remaining key drivers. Won pressured by inflation and Oil “South Korea’s inflation remained elevated in June, reinforcing the view that the Bank of Korea (BoK) is on course to hike rates next week. Headline CPI inflation was slightly higher at 3.2% yoy from 3.1% in May, marking the highest reading since December 2023. It remained well above BoK’s 2% target.” “Other factors expected to keep inflationary pressures firm include the weak won and robust wage growth linked to the AI-driven semiconductor boom.” “The latest inflation report strengthens the case for Bo

The post US Dollar: Tariff passthrough keeps inflation pressure alive – BNY appeared on BitcoinEthereumNews.com. BNY’s Geoff Yu reports that the New York Fed’s latest Liberty Street Economics analysis warns many United States (US) firms still plan tariff-related price increases, implying persistent inflation pressures that matter for the US Dollar (USD) and Federal Reserve (Fed) policy. Nearly half of tariff-paying companies expect further hikes, with gradual pricing and fixed contracts extending adjustment and complicating disinflation. Tariffs extend U.S. inflation timeline “The New York Fed said in its July 8 Liberty Street Economics post that more tariff passthrough still lies ahead for many U.S. firms. Drawing on regional business surveys, the institution reported that nearly half of firms that pay tariffs directly are still planning further price increases, with some expecting to raise prices six months or more from now.” “It said roughly 47% of service firms and 44% of manufactu

The post Swift Readies Ledger for 24/7 Token Transfers—Though True Settlement Is Stuck on Old Rails appeared on BitcoinEthereumNews.com. In brief Swift’s pilot allows 17 global banks to transfer tokenized deposits on weekends, but ultimate settlement still relies on legacy, business-hour systems. Participating institutions include major Global Systemically Important Banks such as Citi, HSBC, BNY, and Wells Fargo. Though built with Ethereum-compatible architecture, the blockchain-based ledger remains a largely centralized network. Swift, the financial gatekeeper connecting thousands of banks across the globe, said on Thursday that a dozen-plus institutions are preparing to use its “blockchain-based ledger.” The member-owned cooperative, which has functioned as the traditional financial system’s backbone for decades, expects 17 banks across six continents to participate in a pilot program involving the exchange of tokens that represent deposits, according to an announcement. Highlighting

Swift’s pilot allows 17 global banks to transfer tokenized deposits on weekends, but ultimate settlement still relies on legacy systems.

The post South Korean Won: Gains hinge on supportive flows against US Dollar – OCBC appeared on BitcoinEthereumNews.com. Christopher Wong notes that Korean Won strength remains largely flow-driven, with USD/KRW dropping below 1,500 on offshore fund repatriation and official vigilance. While bearish momentum persists, Wong expects the pullback to moderate and sees a sustained break below 1,500 as requiring a benign backdrop for the Dollar, Oil and equities. Flow-driven strength faces key levels “KRW continued to outperform, with USD/KRW falling from almost 1,560 at the start of the month to sub-1500 briefly yesterday before rebounding. The move looks flow-driven rather than risk or macro-driven.” “KRW strengthened despite a less friendly macro backdrop, including the oil spike, renewed geopolitical concerns and KOSPI underperformance. USD/KRW appears to have been weighed by inflows and repatriation of funds raised offshore, while official vigilance has also stayed high as Korea shifts i

The post Fed’s Williams: Inflation is still ‘far too high’ appeared on BitcoinEthereumNews.com. Federal Reserve (Fed) Bank of New York President John Williams said in the Future of Market Liquidity and Functioning Workshop in New York on Thursday that inflation remains “far too high,” while stressing that policymakers are actively debating different inflation scenarios as energy prices, artificial intelligence investment and productivity trends shape the outlook. Key takeaways: Inflation is still “far too high,” keeping the Federal Reserve focused on the risks to price stability. Markets still expect Oil prices to decline over the next six to 12 months. Monetary policy remains focused on how energy prices feed through into inflation. AI investment is currently driving inflation, adding to demand and cost pressure. The Fed is actively debating various inflation scenarios as uncertainty remains elevated. Williams said the latest Fed Minutes captured a “collective reaction function,” refl

The post Confirmed: ECB Accounts reveal growing concerns over inflation risks appeared on BitcoinEthereumNews.com. The European Central Bank (ECB) released the accounts of its latest monetary policy meeting on Thursday, revealing growing concern among policymakers over persistent inflationary risks. The discussions show a consensus within the Governing Council that the risks surrounding the inflation outlook are skewed to the upside relative to the ECB staff’s baseline projections. The accounts indicate that headline inflation is expected to rise further over the summer and remain well above the 2% target through the first half of 2027. This outlook comes despite the projections already embedding almost three 25-basis-point interest rate hikes. Policymakers also noted that the outlook could prove even more challenging if energy prices do not decline in line with futures market expectations. Under that scenario, above-target inflation would likely become considerably more persistent. Th