Esteban Ma
341 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
Understanding the U.S. Fiscal Framework: Is Trump’s Tariff-for-Tax-Cut Strategy Viable?
TradingKey – With the U.S. Senate and House of Representatives passing the budget resolution for President Donald Trump's second administration (Trump 2.0), his fiscal blueprint—centered on tax cuts, slashing government spending, and debt reduction—is moving forward. However, with federal debt at...
Fri, May 9
May Fed Meeting: Did Powell Have No Clue? Amid Recession Fears, Data Paints a Different Picture
TradingKey – The Federal Reserve’s May policy meeting concluded as expected with no rate cuts, but the post-meeting statement introduced new language flagging rising unemployment and increased risks to inflation. Against the backdrop of ongoing uncertainty in Trump’s tariff policies, Chair Powell...
Thu, May 8
What Will Be on the Table in the First Round of U.S.-China Trade Talks? Bessent: Expectations Exceed Agreements
TradingKey – On Tuesday, May 6, 2025, both China and the United States officially confirmed that their first round of tariff and trade negotiations will take place this weekend. This marks the first step toward thawing U.S.-China trade tensions since Donald Trump returned to the White House.
Wed, May 7
U.S. Trade Deficit Surges to Record High: Trump's Tariff Short-term Pain or Strategic Failure?
TradingKey – Despite strong opposition from economists, U.S. President Donald Trump remains steadfast in his belief that raising tariffs will reduce the U.S. trade deficit. Ahead of the so-called "reciprocal tariffs" that took effect in April, American companies rushed to import goods ahead of the..
Wed, May 7
May Fed Meeting Preview: Diminishing odds of rate cuts to defy Trump’s rate cut dream
TradingKey – This Wednesday afternoon, May 7, the Federal Reserve will announce its latest monetary policy decision. Despite repeated pressure from U.S. President Donald Trump and some “soft data” pointing toward the case for rate cuts, solid inflation and employment figures—the hard data...
Wed, May 7
Has the Weak Dollar Trend Ended? Goldman: The Worst Days of Dollar Depreciation Are Still Ahead
TradingKey - Despite the U.S. Dollar Index (DXY) falling below the 100 mark, the chorus of bearish calls on the dollar from Wall Street has not abated. Goldman Sachs believes that the negative impact of Trump's tariff policies on the U.S. economy may only become apparent in the summer, leaving...
Mon, Apr 28
Weak Dollar as a Safety Net for U.S. Stocks? Morgan Stanley Remains Bullish: The Quality Stock Cycle Isn’t Over
TradingKey - While major institutions have been advising against buying the dip in U.S. equities and continue to warn about the decline of American exceptionalism, Morgan Stanley analysts are bucking the trend, arguing that the weakening dollar is providing support for U.S. corporate earnings.
Mon, Apr 28
Doomsday Shadows Over the Dollar and U.S. Treasuries: Treasury Sales Pressure and Private Credit Risks Looming
TradingKey - Following the U.S. Treasury storm and the dollar's collapse in April, even with a rebound, the market appears unlikely to quickly regain confidence after such tsunami-like financial volatility. This episode may signal the beginning of a new world order or a new investment paradigm.
Mon, Apr 28
U.S. Price Hikes Surge: From Amazon, Temu, and Shein to Procter & Gamble and Unilever
TradingKey - Due to the impact of high tariff policies, whether it’s U.S. online retailers or offline consumer brands, cheap goods or luxury brands, American consumers are facing a wave of price increases. Fast-fashion giant Shein has even seen some products surge by more than threefold.
Mon, Apr 28
Preview of Trump’s First Economic Report Card: U.S. Q1 2025 GDP May Signal Official Recession
TradingKey - April 30, 2025, marks the 100th day of Donald Trump’s return to the White House, and the market will also receive the first economic report card of the Trump 2.0 administration—U.S. Q1 2025 GDP. Wall Street analysts widely predict that GDP growth will slow sharply to near-zero...
Mon, Apr 28
"Five Sins" of Trump 2.0's First 100 Days: How a Pro-Business President Undermines "America First"?
TradingKey - U.S. President Donald Trump is approaching the 100-day mark of his second term on April 30. However, sharp declines in U.S. stocks, bonds, and the dollar, alongside rising recession forecasts from Wall Street, reflect widespread dissatisfaction with his administration’s performance.
Mon, Apr 28
Outlook for Trump 2.0's Second 100 Days: Tax Cuts Bill – Widening Wealth Gap, Unwanted U.S. Debt?
TradingKey - In the first 100 days of Trump’s 2.0, his administration focused on cutting government spending, imposing high tariffs, and challenging the Federal Reserve. Looking ahead to the second 100 days of Trump 2.0, the centerpiece of his agenda will likely be a new tax cuts bill...
Sun, Apr 27
Behind Trump's Battle with the Fed: Is Not Firing Powell Just a "Scapegoat Strategy"?
TradingKey - The uproar over U.S. President Donald Trump’s threat to fire Federal Reserve Chair Jerome Powell has temporarily subsided. Some argue that this may be Trump’s "scapegoat strategy" to shift focus, instead of the pressure from the sharp declines in U.S. stocks and bonds.
Sun, Apr 27
Is a U.S. Economic Recession Looming This Summer? The Path: Early Buying in April, Weak Transport in May, Layoffs in June
TradingKey - Amid the shock of Trump's tariffs, signs of early purchasing and inventory replenishment have emerged among major U.S. companies, as reflected in their earnings reports and guidance. Wall Street economists predict that the economic downturn triggered by the U.S. trade war will become...
Sun, Apr 27
Intel Q1 Earnings Beat, Q2 Guidance Misses: This "Lesson" Deserves More Attention!
TradingKey - Former semiconductor giant Intel (INTC.US) reported stronger-than-expected earnings for the first quarter of 2025. However, weaker guidance for the second quarter sent its shares down 5% in after-hours trading. While concerns over the pace of business recovery and the impact of U.S...
Fri, Apr 25
Apple's Tariff Self-Rescue: All U.S.-Sold iPhones Might Shift from "Made in China" to "Made in India"
TradingKey - In response to the U.S.-China tariff war, Apple (AAPL.US) is accelerating its supply chain diversification strategy, with plans to move all iPhone assembly for the U.S. market from China to India by 2026.
Fri, Apr 25
April Tokyo CPI Rises to 3.5%: Can the Bank of Japan Proceed with Rate Hikes Without Worry?
TradingKey - In April, inflation in Tokyo reached its highest level in two years, potentially strengthening the Bank of Japan (BOJ) to resolve further interest rate hikes. This development aligns with the BOJ’s previous stance that there is no need to alter its fundamental policy trajectory, and...
Fri, Apr 25
Breakthrough in U.S.-China Tariff War? Reports Suggest China is Preparing an Exemption List
TradingKey - Following continued signals from U.S. President Donald Trump to reduce tariffs in a bid to facilitate trade negotiations, reports indicate that China is considering suspending tariffs on select U.S. goods, including semiconductors, medical equipment, and chemicals.
Fri, Apr 25
"Make or Break"? Trump Changes Stance Again: May Reimpose Reciprocal Tariffs Within Weeks
TradingKey - Less than 100 days into his presidency, U.S. President Donald Trump has performed yet another round of policy flip-flopping on tariffs. Just two weeks after granting a "90-day pause," Trump stated that if the U.S. fails to reach agreements with its trading partners, he will reimpose...
Thu, Apr 24
U.S. Spares "Yen" Talks, BOJ Rate Hike to Delay, Yen Weakness Returns?
TradingKey - After U.S. Treasury Secretary Scott Bessent stated that the Trump administration would not seek specific exchange rate targets in trade talks with Japan, the yen fell sharply, with the dollar-yen pair rising over 1%. The market now turns its attention to the second round of U.S.-Japan..
Thu, Apr 24
