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
Trump’s Tax Bill Races Toward Deadline – Economists Warn: GDP and Deficit Forecasts Are Just Beautiful Bubbles!
TradingKey - U.S. President Donald Trump’s proposed tax cut and spending bill is racing toward a self-imposed July 4 deadline, despite deep divisions among lawmakers over its key provisions. What's surprising is that the official economic forecasts from Trump-aligned officials regarding the bill’s..
Thu, Jun 26
U.S. May PCE Preview: Tariff Inflation Effects Continue to Delay – Can the U.S. Market Ignore the Report?
TradingKey - On Friday, June 27, the U.S. will release Personal Consumption Expenditures (PCE) price index for May, widely regarded as the Federal Reserve’s preferred inflation gauge and a key reference for FOMC officials in assessing inflation trends and shaping monetary policy decisions.
Thu, Jun 26
Taiwan Dollar Surges to Three-Year High – Will Its Strength Keep Growing?
TradingKey - Against the backdrop of a weakening U.S. dollar, increased attractiveness of Taiwanese stocks, and rising foreign exchange sales by local exporters, the New Taiwan Dollar (TWD) surged on Thursday, approaching the key level of 29 against the U.S. dollar — marking a three-year high.
Thu, Jun 26
OpenAI Plans to Enter the Autonomous Vehicle Race: Can Its New AI Model Challenge Tesla’s Robotaxi and Waymo?
TradingKey - While Google’s Waymo and Tesla's newly launched Robotaxi currently dominate the autonomous driving space, OpenAI — armed with tools like ChatGPT and Sora — is reportedly preparing to enter the arena. Some analysts suggest that OpenAI could develop a new type of autonomous driving ...
Wed, Jun 25
The "Anomaly" of Low U.S. Unemployment: Labor Market Differential Halved, Long-Term Unemployment Hits Three-Year High
TradingKey - Although the U.S. unemployment rate remains at a relatively low level of 4.2%, the seemingly calm or stable labor market is showing real cracks: consumer sentiment regarding job prospects has deteriorated, and the long-term unemployment rate has risen to a three-year high, with an ...
Wed, Jun 25
Apple's Potential Acquisition of Perplexity: A Game-Changer for Its AI Narrative?
TradingKey - As the tech-oriented Nasdaq 100 Index hits record highs, Apple’s stock has still declined by 20% year-to-date in 2025. Concerns over its lagging progress in AI and the negative impact of tariffs on iPhone sales have yet to fully dissipate. News of a potential acquisition of Perplexity..
Wed, Jun 25
What Is a Negative Interest Rate? How Do Europe and Japan Differ in Motivation Behind NIRP?
TradingKey - As Japan’s wage-inflation outlook improves, the Bank of Japan (BOJ) officially ended its era of negative interest rates in 2024. However, under persistent deflationary pressures and a strong Swiss franc, the Swiss National Bank (SNB) cut its policy rate to zero in June 2025, signaling..
Wed, Jun 25
Fed's Three Consecutive Dovish Statements Signal a Bull Market for U.S. Treasuries: Surging Options Bets on 4% Yield
TradingKey - As geopolitical tensions in the Middle East ease and multiple Federal Reserve officials signal dovish interest rate cuts, options market traders are heavily betting that the yield on 10-year U.S. Treasury bonds will return to its early-2025 lows, fueling rising expectations of a bull ..
Wed, Jun 25
Trading Guide Under Trump’s Tariff: Favor Euro and Yen, Emerging Market Equities Seen Most Optimistic in Two Years
TradingKey - Trading data and investor surveys indicate that Trump’s tariff policies are indeed weighing on U.S. dollar assets, and the sell-off of the greenback is more than just Wall Street analysts’ commentary. Amid prolonged uncertainty over trade policy, investors are showing a stronger ...
Tue, Jun 24
Japan’s 20-Year Bond Auction Remains Cautious – Is July the Turning Point for JGBs?
TradingKey - On Tuesday, June 24, Japan's Ministry of Finance conducted a 20-year government bond auction, where demand showed some improvement compared to previous auctions but still fell short of market expectations. Investors are now turning their attention to next week’s revised 30-year bond
Tue, Jun 24
India’s Biggest IPO in 2025? Tata Capital Eyes August Listing, Weak Dollar May Provide Support
TradingKey - According to a report by Bloomberg citing sources familiar with the matter, Tata Capital, the financial services arm of India’s largest conglomerate Tata Group, has received regulatory approval and is moving forward with its initial public offering (IPO), expected to raise up to $2B ...
Tue, Jun 24
Novo Nordisk Terminates Weight-Loss Drug Partnership with Hims&Hers – NVO Drops 7%, HIMS Plummets 25%
TradingKey - Just two months into their weight-loss drug partnership, Novo Nordisk (NVO) announced on Monday, June 23, that it is terminating its collaboration with telehealth company Hims&Hers (HIMS). The move sent shockwaves through the market, with shares of the so-called "AI + healthcare" growth
Mon, Jun 23
Trump Eases Geopolitical Fears in U.S. Markets? Morgan Stanley Sees Selloff to Fade, “Roaring 20s” Still Alive
TradingKey - Despite escalating tensions between Israel and Iran, U.S. equities have remained surprisingly resilient, showing few signs of broad panic. After the U.S. launched direct strikes on Iranian nuclear facilities, Morgan Stanley suggested that the geopolitical-driven selloff may fade, with..
Mon, Jun 23
Powell’s Hill Testimony Preview: Patience First, Divergence to Be Addressed – Why a More Hawkish Stance?
TradingKey - After the Federal Reserve’s June policy meeting, which signaled a more hawkish rate outlook and rising stagflation risks, market attention now turns to Chair Jerome Powell’s two-day testimony on Capitol Hill, where he will defend the Fed’s reluctance to cut rates soon and its view that
Mon, Jun 23
Stock Market "Miracle" Amid Israel-Iran Conflict: Israeli Stock Index Hits Record High as War Intensifies
TradingKey – As missile war between Israel and Iran continues to escalate, the Israeli stock market has defied expectations, rising for six consecutive sessions and hitting a new all-time high — an unusual and counterintuitive market reaction that has surprised many observers. Analysts suggest this
Mon, Jun 23
U.S. Entry into Conflict – Morgan Stanley Outlines Three Oil Price Scenarios: From $60 to $140 per Barrel
TradingKey - Escalating tensions between Israel and Iran have sent international oil prices sharply higher, with U.S. airstrikes on Iran intensifying concerns over broader disruptions to crude supply. A recent report from Morgan Stanley outlines three potential conflict scenarios that could ...
Mon, Jun 23
Fed Officials Divided on Rate Cut Outlook: A July Cut Looks Fishy, Fall Cuts More Likely
TradingKey - Since the implementation of Trump tariffs, Federal Reserve officials have remained uncertain about their inflationary impact. After the June FOMC meeting, the dovish camp within the Fed has weakened, and a growing divergence in views among policymakers has emerged regarding the timing..
Mon, Jun 23
A U.S. Pro-Crypto 'WeChat' App? Elon Musk’s X Announces Plans to Launch Investment and Trading Services Soon
TradingKey - Long before acquiring the social media platform X (formerly Twitter), Tesla CEO Elon Musk repeatedly praised the all-in-one functionality of China's WeChat. Now, X is taking steps toward building a similar super-app by announcing that it will soon roll out investment and trading service
Fri, Jun 20
POP MART’s Two-Day “Darkest Hour”: People’s Daily Slams Blind Boxes, Morgan Stanley Removes Stock List as Scalpers Get Stuck with Labubu
TradingKey - In just two days, POP MART (9992.HK), the global trendsetter behind the sought-after Labubu collectibles, has faced a series of setbacks. The company’s stock fell more than 5% for two consecutive days, retreating from recent record highs. Unannounced restocking caused the resale value
Fri, Jun 20
Morgan Stanley Updates "Humanoid 100" List – Game and Cybersecurity Firms Emerge as New Players
TradingKey - In its recent update to the "Humanoid 100" stock list, Morgan Stanley analysts have expanded the humanoid robot supply chain beyond traditional chipmakers and tech firms to include game developers and cybersecurity companies, which are expected to play key roles in data training and AI
Fri, Jun 20
