Esteban Ma
340 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
Trump’s Tariff Uncertainty Drags U.S. Manufacturing into Third Consecutive Month of Contraction—Imports and Exports Collapse
TradingKey - Amid the uncertainty surrounding Trump’s tariff policies, the U.S. manufacturing sector continued its contraction in May, with both import and export indicators hitting multi-year lows. Manufacturers and suppliers remain hesitant amid growing trade tensions and policy instability.
Tue, Jun 3
Gold Surges Toward $3,400 — Is the Familiar Gold Rush Back Amid Trump’s Tariff Shocks?
TradingKey - With U.S.-China trade tensions resurfacing and the U.S.-EU tariff conflict escalating, global gold prices surged nearly $100 per ounce on Monday, approaching the key $3,400/oz. Analysts believe that a weaker U.S. dollar and policy uncertainty from Washington will continue to support...
Tue, Jun 3
The Overlooked Japanese Bonds: Why Japan Could Be a “Ticking Time Bomb” for Global Financial Stability?
TradingKey - After three decades of economic stagnation, Japan’s financial environment is undergoing a significant transformation. The Bank of Japan (BoJ) has initiated a tightening cycle through interest rate hikes and reduced bond purchases—triggering volatility in both the yen exchange rate and..
Fri, May 30
Ray Dalio’s Prescription for U.S. Fiscal Deficit: Three Steps to Bring the Deficit-to-GDP Ratio Down to 3%
TradingKey - Although Trump’s tax and spending bill has narrowly passed the House of Representatives, concerns over the U.S. fiscal deficit continue to unsettle global investors. Ray Dalio believes that the U.S. government should aim to reduce its annual budget deficit from around 7% of GDP down...
Fri, May 30
Powell and Trump Hold Rare Meeting: Not Lowering Interest Rates Is a Mistake, Says Trump
TradingKey - On Thursday, May 29, Federal Reserve Chair Jerome Powell met with U.S. President Donald Trump at the White House to discuss economic growth, employment, and inflation — marking their first face-to-face meeting since November 2019. Earlier this year, Trump had threatened to fire Powell..
Fri, May 30
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Best Buy Q1 FY26 Earnings Report: Hit by Trump’s Tariff War, BBY Slashes Full-Year Guidance
TradingKey - As the largest U.S. consumer electronics and appliance retailer, Best Buy (BBY) has been directly affected by Trump’s tariff policies targeting China, its biggest supplier. In Q1 of fiscal 2026, Best Buy reported weaker-than-expected results and issued a profit warning—sending...
Fri, May 30
A Trade War Into a Capital War? The Overlooked Risk in Trump’s Tax Bill: Foreign Taxes Could Accelerate “Sell America”
TradingKey - While investors are closely watching how Trump’s tax and spending bill will affect U.S. fiscal sustainability, an overlooked provision in the legislation has raised alarm bells: a new tax targeting foreign capital could accelerate capital outflows from the U.S., suggesting that Trump...
Fri, May 30
Trump vs. Federal Courts — Two Court Tries to Block Tariffs, Trump Considers a New Legal Path
TradingKey - In just two days, the Trump administration’s tariff plan has faced setbacks from two U.S. federal courts. Although a federal appeals court granted a temporary stay and reinstated the tariffs for now, the White House is aware that its strategy is under legal threat — and is reportedly...
Fri, May 30
Is the Fear of Bonds Finally Easing? Record Foreign Demand Seen in 5-Year Treasury Auction
TradingKey - Since May 2025, global bond markets have faced pressure from concerns over government fiscal policies — with yields rising rapidly across major sovereign debt markets. However, a $70 billion auction of 5-year U.S. Treasuries conducted by the U.S. Treasury on Wednesday, May 29 ...
Thu, May 29
NVIDIA Q1 Beats Earnings for 10 Consecutive Quarters — Survived H20 Ban, But China Risks Remain
TradingKey - Despite the Trump administration’s new export ban on its China-specific H20 AI chip, NVIDIA (NVDA) delivered better-than-expected revenue and earnings in Q1 of fiscal 2026 — underscoring the strength of global demand for AI infrastructure. However, CEO Jensen Huang warned that...
Thu, May 29
Has the Global Long-Term Bond Market Recovered? Another Weak Japan’s Bond Auction Emerged
TradingKey - After the U.S. reduced bond issuance, the UK cut reliance on long-term debt, and Japan signaled adjustments to its bond-buying program, global bond markets appeared to stabilize — with yields retreating and the worst of the long-bond selloff seemingly over.
Wed, May 28
Why Is Bringing Manufacturing Jobs Back to the U.S. So Difficult? Do Trump’s Policies Backfire？
TradingKey - Since the 2008 financial crisis, bringing manufacturing back to the United States has been a top priority for multiple presidential administrations — yet this ambitious goal has faced persistent challenges and yielded limited success. The phenomenon of “manufacturing hollowing-out”...
Wed, May 28
NVIDIA Q1 Earnings Preview: China Export Ban Risks vs. Middle East “Stargate” Mega Deal
TradingKey - On Wednesday, May 28, after U.S. markets close, AI chip giant NVIDIA (NVDA.US) will release its Q1 FY2026 earnings report , drawing investor attention to two key factors that could shape the company’s performance: the impact of U.S. export restrictions on China market sales and a...
Wed, May 28
U.S. Debt Ceiling “August Deadline” Looms — Treasury Begins Cutting Short-Term Bond Issuance
TradingKey - As the so-called “X-date” — the point at which the U.S. Treasury runs out of emergency measures to avoid default — draws closer, and with Trump’s tax cut and spending bill still stuck in a difficult legislative process, the U.S. government is beginning to tighten its belt: reducing shor
Wed, May 28
A U.S.-EU Currency War? The “Global Euro Moment” Rises as the Weak Dollar Endures
TradingKey - Although tensions in the U.S.-EU tariff war have eased, the era of U.S. exceptionalism continues to fade, with the U.S. dollar weakening in response to President Donald Trump’s aggressive tariff hikes and expansionary fiscal policies.
Wed, May 28
OPEC+’s “Overt Scheme” to Boost Output: Targeting U.S. Shale Oil’s Break-Even Point?
TradingKey - Ahead of the OPEC+ meeting on May 31, international oil prices remained weak. Some analysts believe that OPEC+ is preparing for its third consecutive large-scale production increase, aiming to push crude prices below $60 per barrel — a move designed to challenge the break-even point...
Wed, May 28
What’s Driving the Japanese Bond Sell-Off? The Root — Life Insurers’ Negative Duration Gap
TradingKey - As the Bank of Japan (BoJ) enters a tightening cycle, Japanese government bond (JGB) yields have been rising steadily. However, the recent sharp selloff in Japan bonds appears unusually severe.
Mon, May 26
Angry Musk for Tesla Comeback? “Iron Man” Musk: 7x24 at Work and Sleeping in Factory Rooms
TradingKey - As CEO Elon Musk shifts his focus back from the U.S. Department of Government Efficiency (DOGE) to Tesla’s core businesses — including Autopilot development and robotics — Tesla shares have accelerated their rebound. After reaffirming that he will remain CEO for the next five years...
Mon, May 26
Apple (AAPL) Stock Falls for 8th Straight Day — The Cost of Not Listening to Trump?
TradingKey - Amid escalating tariff threats and concerns over weakening product momentum, Apple (AAPL.US) has seen its stock fall for eight consecutive days, making it the only member of the “Magnificent Seven” tech giants to decline during a broader market rebound in May. Some observers are now...
Mon, May 26
Nippon Steel Shares Rise 5%, though Trump’s Approval of U.S. Steel Deal Still Uncertain
TradingKey - After U.S. President Donald Trump hinted at his support for a planned partnership between Nippon Steel and U.S. Steel, shares of Nippon Steel rose 5% on Monday, May 26. However, Trump’s vague wording suggests that this major acquisition may still face twists and turns ahead.
Mon, May 26
