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
Fannie Mae and Freddie Mac Privatization — Stocks Soar, but Homebuyers May Suffer
TradingKey - On Wednesday, May 21, U.S. President Donald Trump reignited the push to end the government conservatorship of Fannie Mae and Freddie Mac, the two largest mortgage lenders in the United States, and move toward full privatization.
Fri, May 23
Trump’s Bill Faces Tougher Hurdles Ahead — The Senate Has Its Say, the Treasury Market Is Watching the Interest Bill
TradingKey - This not-so-"beautiful" version of the so-called “Beautiful Big Bill” incorporates most of Trump’s policy proposals, but its implications for the fiscal deficit have raised concerns — and it now faces further scrutiny from the Senate and the bond vigilantes.
Fri, May 23
Trump vs. Ivy League: Banning Harvard from Enrolling International Students Is Just the Beginning
TradingKey - Political ideology and economic concerns have fueled escalating tensions between President Donald Trump and U.S. higher education institutions. Recently, the administration took a direct hit at one of the most prestigious universities in the country: Harvard University.
Fri, May 23
Will Trump’s Tax Bill Benefit American Citizens? 3 Major Controversies: SALT, Medicaid Cuts, and Fiscal Deficits
TradingKey - Key questions remain: Does the U.S. still have room for further tax cuts amid its massive fiscal deficit? Will adjustments to the State and Local Tax (SALT) cap truly benefit ordinary Americans or merely enrich the wealthy? Can Congress and society accept the welfare cuts? Will the...
Fri, May 23
CATL and Hengrui’s HK IPOs — Enter a “Hong Kong Revaluation 2.0” Era?
TradingKey - The strong market performance of two Chinese industry leaders — Contemporary Amperex Technology Co. Limited (CATL, 3750.HK) and Hengrui Pharmaceuticals (1276.HK) — following their Hong Kong IPOs has once again drawn global attention to the Hong Kong capital market.
Fri, May 23
Behind Nvidia Huang’s China Outreach: AI Tools Are Struggling to Gain Traction in the U.S.
TradingKey - According to the latest survey by Statista, the adoption and enthusiasm for artificial intelligence (AI) tools like ChatGPT are surprisingly low in the U.S. and European countries, while users in India and China show significantly stronger interest. This data offers insight into why...
Thu, May 22
Target (TGT) Q1 Earnings Disappoint: Trump May Be Taking the Blame for Two Issues
TradingKey - On Wednesday, May 21, U.S. retail giant Target (TGT) reported weak Q1 2025 results and cut its full-year sales outlook, sending shares down more than 5% in pre-market trading.
Wed, May 21
Q1 Hedge Fund Holdings: Increased Exposure to Chinese Tech, Reduced Bets on U.S. Magnificent Seven
TradingKey - First-quarter 2025 Form 13F filings from several top hedge funds show a shift in positioning between Chinese and U.S. tech stocks. Goldman Sachs reported that hedge funds reduced exposure to the U.S. “Magnificent Seven” stocks, while increasing allocations to Chinese technology...
Wed, May 21
All Eyes on the 20-Year Treasury Auction — The First Big Test for U.S. Debt Demand After Moody’s Downgrade
TradingKey - Following Moody’s downgrade of the U.S. sovereign credit rating and growing concerns over Trump’s tax-cutting “Beautiful Big Bill,” global investors are closely watching the upcoming $16 billion auction of 20-year U.S. Treasury bonds, which will serve as the first major test of demand..
Wed, May 21
Tesla Is Back on the Growth Track: Musk Vows to Step Back from Politics and Focus on Building the Business
TradingKey - After months of intense political engagement through the U.S. Department of Government Efficiency (DOGE), Tesla (TSLA) CEO Elon Musk has come to realize the risks of politicizing the Tesla brand.
Wed, May 21
Trouble in U.S. Fiscal Discontinuity: Does a Credit Downgrade Matter? Who Are Bond Vigilantes?
TradingKey - As the world's largest economy, why does the U.S. keep facing fiscal challenges? What does losing the final AAA rating mean for U.S. Treasury bonds? And how will the so-called “bond vigilantes” respond?
Wed, May 21
U.S. Treasuries Weather Downgrade Fears, but Japanese Bonds Collapse — Is the Yen About to Crash?
TradingKey - While global investors are still assessing the implications of the U.S. losing its last AAA sovereign credit rating, a bond auction in Japan collapsed unexpectedly, potentially marking a turning point for the Bank of Japan’s (BoJ) tightening cycle — and raising concerns about an...
Tue, May 20
Moody’s Strips U.S. of AAA Rating — VIX Fear Index Surges 15%! Is a Fiscal Storm Coming?
TradingKey - Following Moody’s downgrade of the U.S. sovereign credit rating last Friday, global investor concerns over the sustainability of U.S. fiscal policy have triggered a sharp rise in market anxiety. On Monday, May 19, the VIX Volatility Index surged by over 15%.
Mon, May 19
U.S. Stands Alone, While the UK and Europe “Hold Hands” — UK-EU Restart Post-Brexit Agenda with First Agreement in Five Years
TradingKey - The Trump administration’s aggressive use of tariffs and confrontational foreign policy has indirectly encouraged greater unity among other nations. On May 19, nearly nine years after voting to leave the EU, the United Kingdom and the European Union reached a landmark agreement to...
Mon, May 19
Wall Street’s Playbook: Emerging Market Equities to Lead the Next Bull Market, Instead of the U.S.
TradingKey - Rather than dwelling on the policy instability and unpredictability of the Trump 2.0 administration, Wall Street is coalescing around a growing consensus: the era of U.S. exceptionalism is over, and emerging market equities are poised for a golden age.
Mon, May 19
What Happens When the U.S. Loses Its Last AAA Rating? Sell America Again or Just “Sell the Fact”?
TradingKey - Following news that Moody’s downgraded the U.S. sovereign credit rating, and that China’s holdings of U.S. Treasuries fell to third place globally, Wall Street is now weighing a critical question: Will investors "sell the fact" and return to dollar assets — or will this trigger...
Mon, May 19
Risk-free U.S. Bonds at Risk: China’s Diversification Strategy and Moody’s Downgrade Draw a Red Line
TradingKey - Just days after the easing of global trade tensions due to the Trump administration's tariff truce, the U.S. Treasury market may be facing further pressure — with no rally in sight. The recent bond market weakness has been exacerbated by two major developments: China’s decline as the...
Mon, May 19
Q1 2025 Wall Street Fund 13F Reports: Gold In, Bank Stocks Out, Chinese Equities Hold Up, and Tech Is Hard to Rate
TradingKey - About 45 days after the end of each quarter, major asset management firms release their Form 13F filings, which have become a key reference for global investors tracking capital flows — often seen as a way to copy trade of top funds.
Fri, May 16
CPI vs. GDP: Fed and BoJ Face the Same Dilemma as Long-Japan Bond Yields Plummet!
TradingKey - Although the U.S. and Japan are at different stages of their monetary policy cycles, both the Federal Reserve and the Bank of Japan (BoJ) now face the same challenge: rising inflation paired with slowing economic growth.
Fri, May 16
Where Does U.S.-Japan Trade Negotiation Stand? Japan “Wants It All”: A Good Deal and a Stable Yen
TradingKey - The main reason for the delay of U.S.-Japan trade negotiation appears to be Japan’s increasingly firm stance — resisting two of President Trump’s core demands: yen appreciation and automotive tariffs.
Fri, May 16
