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Esteban Ma

573 Articles

Esteban Ma, CFA Level 2 CANDIDATE, is a financial editor at TradingKey, mainly focusing on covering equities, cryptocurrencies and commodities. With two years of experience in crypto at Gate.io Research and three years in comprehensive finance, he specializes in cryptocurrency industry analysis and macroeconomic analysis.

He passed the Certificate of Security Qualification(CSQ) and Certificate of Futures Qualification(CFQ).

Written by Esteban Ma

Reviewed by Esteban Ma

Long U.S. Bonds Are Paying the Price on Firing Cook, Fueling the Biggest Curve Steepening in 3 Years

TradingKey - News that President Donald Trump is pushing to remove Federal Reserve Governor Lisa Cook has elevated concerns over Fed independence to a new high. Wall Street analysts are warning that a repeat of the “equities, bonds, and currency triple sell-off” seen in past political episodes could

Japan’s 2026 Debt-Servicing Budget Hits Record High, Fueling a Bond Yield Spiral

TradingKey - To address rising "national debt service costs" caused by climbing Japanese government bond (JGB) yields, Japan’s Ministry of Finance is planning to request a record $220 billion for debt servicing in the 2026 fiscal year. Amid Bank of Japan rate hikes and concerns over fiscal deficits,

Is KDP’s JDE Peet’s Acquisition a Masterstroke or a Risky Gamble?

TradingKey - On Monday, August 25, U.S. beverage giant Keurig Dr Pepper (KDP) and JDE Peet’s, the parent company of Peet’s Coffee, announced a definitive agreement for KDP to acquire JDE Peet’s in an all-cash transaction valued at €15.7 billion. While KDP aims to create the world’s largest pure

Nvidia Q2 Earnings Expectations: With Little Room for Error, Will China-Related Risks Be Magnified?

TradingKey - Ahead of Nvidia Q2 FY2026 earnings report, multiple Wall Street firms have raised their price targets on Nvidia, reflecting strong confidence in AI demand. While analysts continue to forecast robust ~50% year-over-year growth in revenue and EPS, the China variable remains a major risk

Wall Street Banks Clash with Crypto Firms: The Genius Act Leaves a Loophole for Interest-Bearing Stablecoins

TradingKey - As stablecoins enter the “interest-bearing era,” holders are excited to transition from “non-interest-bearing depositors” to beneficiaries sharing in the yield from underlying assets. Stablecoin issuers and crypto exchanges welcome this regulatory development, but traditional Wall

Evergrande’s Delisting Marks an End, But China’s Property Stocks See a New Beginning on Shanghai Easing

TradingKey - On Monday, August 25, Chinese property stocks witnessed a dramatic day: Evergrande Group, once China’s largest real estate developer, was delisted from the Hong Kong stock exchange, while onshore property stocks surged on news of new easing measures in Shanghai’s housing market. Vanke s

Powell’s Dovish Turn Fuels RMB Break Above 7 — The Ripple Effects Go Beyond the Yuan

TradingKey - Federal Reserve Chair Jerome Powell’s speech at the 2025 Jackson Hole symposium unexpectedly reassured markets about a September rate cut. Under the combined influence of domestic and external factors, calls for China’s yuan to appreciate beyond the 7-per-dollar level are growing louder

Did Powell’s “Rate Cut Rally” Spark a Rotation in the Stock Market? Tech Stocks Start to Lag Behind

TradingKey - Federal Reserve Chair Jerome Powell’s unexpectedly dovish remarks at the Jackson Hole symposium ignited strong bets on a September rate cut and fueled a rebound in U.S. equities. However, for the week, tech stocks — long the market leaders — underperformed. Beyond the relative weakness

Japan’s Long-Term Bond Yields Surge in Panic-Like Move — Sticky Inflation, Fiscal Fears, and Overseas Buyers Pull Back

TradingKey - After a weak auction of 20-year Japanese government bonds (JGBs) on Tuesday, August 19, concerns over a potential resurgence of the “Japan bond market storm” have intensified.

Ahead of Nvidia Q2 Earnings, Wall Street Races to Raise Nvidia Price Targets

TradingKey - In the week leading up to Nvidia’s (NVDA) Q2 FY2026 earnings report on August 27, nine Wall Street firms have raised their target prices for the AI chip leader, reflecting broad confidence in its growth outlook.

Fed at a Crossroads: Powell Faces the Spotlight at Jackson Hole in a Moment of Fed Uncertainty

TradingKey - The annual Jackson Hole Symposium is currently underway, with Federal Reserve Chair Jerome Powell’s speech on Friday, August 22, drawing global attention. Amid growing internal divisions within the Fed and external pressure from the Trump administration to reshape its leadership, will

Nvidia H20 Chip “Backdoor” Controversy Escalates as Reports Say Nvidia Asks Suppliers to Halt H20 Production

TradingKey - According to The Information, citing unnamed sources, Nvidia (NVDA), the global leader in AI chips, has instructed key suppliers including Samsung Electronics and Amkor to pause production related to its H20 chip. This supply chain disruption, triggered by allegations of a security

Investors Overreact to Walmart Q2 Earnings? Former CEO and Morgan Stanley Defend the Long-Term Story

TradingKey - Despite the impact of tariffs, Walmart (WMT), the largest U.S. retailer, delivered a 4.8% year-over-year revenue growth in Q2 — exceeding expectations. However, its first profit miss in three years dragged down the stock. The former CEO said the market’s reaction is unfounded, and

DeepSeek-V3.1 Released: What Are the Key Updates?

TradingKey - On the afternoon of August 21, 2025, Beijing time, DeepSeek officially launched the DeepSeek-V3.1 model. By adopting a new hybrid reasoning architecture and enhanced Agent capabilities, the model achieves significant performance improvements in tasks such as code repair and command-line

Baidu Is Now China’s Cheapest Internet Stock — Q2 Ads Bleed and AI’s Second Curve Fails to Inspire

TradingKey - Despite double-digit growth in its AI-related businesses, Baidu (BIDU, 9888.HK), the first Chinese internet giant to embrace AI models, is now struggling with unclear AI growth prospects. Baidu’s Hong Kong-listed shares have become the lowest-valued among Chinese internet companies.

Databricks Joins the $100 Billion Unicorn Club, Ranking Fifth Globally — Investors Now Demand IPO Clarity

TradingKey - Following the explosive IPO of Figma, capital markets are scrambling to find the next breakout tech company still in private hands. Databricks, the AI-powered data analytics firm, has emerged as a top contender after a new funding round pushed its valuation past $100 billion, turning

OpenAI Breaks Silence on IPO with A New AI Monetization Path in Sight

TradingKey - OpenAI have publicly acknowledged the possibility of going public for the first time. Combined with the massive capital needs for building trillion-dollar-scale data centers and a record-breaking monthly revenue outlook, an IPO for the world’s leading AI company may be closer than ever.

Cook Mortgage Fraud Allegations Escalate — Will the 2025 Jackson Hole Symposium Become a Battle for Central Bank Independence?

TradingKey - After months of pressuring Federal Reserve Chair Jerome Powell to cut rates with limited success, the Trump administration has now turned its focus to Fed Governor Lisa Cook, reportedly seeking her removal over allegations of mortgage fraud. The move has intensified concerns over the

[U.S. IPO] Valuation Doubles Figma’s Pre-IPO Level — Canva’s Latest Funding Hints at Public Market Debut

TradingKey - Following the strong market reception of design collaboration platform Figma’s IPO, which has reignited momentum for software company listings, another online design platform, Canva, appears to be preparing for a potential public offering.

U.S. Tech Sell-Off Traced to MIT’s “AI Divide” Report — What It Reveals Is Spooking Investors

TradingKey - On Tuesday, August 19, the Nasdaq Composite, heavily weighted toward technology stocks, plunged 1.4% — its largest single-day drop since August began. Market participants attributed the sudden tech selloff to growing fears of an AI bubble, fueled by recent comments from OpenAI CEO Sam

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