Esteban Ma
454 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
The Dollar’s Bear Market Could Reignite as BofA Warns of Nixon Rerun & Morgan Stanley Expects More Pain Ahead
TradingKey - Amid uncertainties from Trump’s tariffs and threats to Fed independence, the U.S. Dollar Index (DXY) has fallen 10% in 2025 year-to-date. While the dollar showed signs of bottoming in the second half, Bank of America and Morgan Stanley warn that the dollar’s decline is far from over —
Mon, Sep 8
No iPhone 17 Air & No AI, Apple’s 2025 Event May Fall Flat for Chinese Consumers
TradingKey - On the eve of Apple’s annual event, key anticipated features have hit roadblocks: the long-awaited, completely redesigned ultra-thin iPhone 17 Air may be excluded from the Chinese market due to hardware incompatibility, and Apple Intelligence, Apple’s AI functionality, is expected to be
Mon, Sep 8
ECB Rate Cut Cycle May Be Over with Possible Rate Hikes in H2 2026, A Bloomberg Survey Shows
TradingKey - A Bloomberg survey shows economists now expect no further cuts in 2025, and a significant chance of rate hikes in the second half of 2026. The eurozone’s August CPI came in above the European Central Bank’s (ECB) target, and the rebound in inflation — combined resilient economic data
Fri, Sep 5
U.S. August NFP Collapses as Downward Revisions Are Worse, Fueling Fed Cut Bets
TradingKey - Even against already low expectations, U.S. August nonfarm payrolls came in far below forecast, and revised data showed June job growth turned negative, deepening concerns about labor market weakness. The report strengthens the case for a September rate cut and boosts bets on multiple
Fri, Sep 5
“Stay, Elon!” Tesla’s Shocking $1Trillion, Decade-Long Pay Package Revealed
TradingKey - To retain Tesla CEO Elon Musk and keep him leading the top electric vehicle manufacturer while driving greater value in artificial intelligence and robotics, Tesla’s board is offering a compensation package worth up to $1 trillion over ten years — the largest executive pay package in US
Fri, Sep 5
From Digital Gold to Physical Gold, Tether Eyes Gold Miners Investments in Bold Reserve Shift
TradingKey - No longer content with its bets on bitcoin — often called “digital gold” — and the broader cryptocurrency market, Tether, the issuer of the world’s largest stablecoin USDT, is now moving into physical gold mining. Amid skepticism from traditional gold industry players, Tether’s gold
Fri, Sep 5
Lululemon’s Third Straight Miss: Blaming Tariffs, But the Real Problem Is Fading Brand Power
TradingKey - Athleisure brand Lululemon Athletica released its Q2 2025 earnings after the market close on Thursday. Despite beating earnings-per-share expectations, disappointing results once again shattered investor confidence — including tariff risks, weakening U.S. consumer appeal, and
Fri, Sep 5
The “Fed Independence Trade” Is Heating Up — Goldman and JPMorgan Offer an Investment Guide
TradingKey - The global selloff in long-term bonds has ignited the so-called “Fed independence trade,” with JPMorgan analyzing asset performance for clues, and Goldman Sachs forecasting gold prices could reach $5,000 per ounce.
Thu, Sep 4
Challenger Job Cuts Hit Highest August Level in 5 Years, Hiring Plans at Record Low
TradingKey - After Wednesday’s weaker-than-expected JOLTS job openings data, another employment report has painted a bleak picture of the U.S. labor market: Challenger August job cuts reached the highest level since 2020, while announced hiring plans hit the weakest level ever recorded for the month
Thu, Sep 4
A 50-BP Cut Isn’t Off the Table — But Only If NFP Meets This Threshold, Says StanChart
TradingKey - Standard Chartered has laid out specific criteria: if nonfarm payrolls come in below 40,000 and the unemployment rate rises to 4.4% or higher, a large cut would be justified.
Thu, Sep 4
“EV King” Losing Steam? BYD To Cut 2025 Sales Target by 16%, Slowest Growth Since 2020
TradingKey - According to Reuters, BYD (1211.HK), the global electric vehicle giant, has held multiple internal discussions in recent months about lowering its 2025 EV sales target, potentially cutting the full-year goal from the previously stated 5.5 million units to 4.6 million, a 16% reduction.
Thu, Sep 4
US JOLTS Report Helps Japan Avoid 30-Year Bond Auction Disaster but Risks Linger
TradingKey - A U.S. JOLTS job openings report signaling a weakening labor market brought relief to global bond investors. As long-term government bond yields in developed economies retreated, Japan’s critical stress test — the 30-year JGB auction — turned out less disastrous than feared.
Thu, Sep 4
Can Broadcom Deliver a Strong Q3 Earnings After Nvidia & Marvell Show Signs of Weakness?
TradingKey - Broadcom (AVGO.US), the leader in ASIC (application-specific integrated circuit) chips, will release its Q3 FY2025 earnings after the U.S. market close on September 4. After Nvidia and another key ASIC player, Marvell Technology, delivered underwhelming results, investors are looking to
Thu, Sep 4
Will iPhone 17 Lift Apple’s Stock? JPMorgan Bets on China, Citi Skeptical on Innovation
TradingKey - Ahead of Apple’s (AAPL) annual fall launch event on September 9, Pacific Time, where the iPhone 17 series is expected to debut, Wall Street remains cautious — viewing the new models as incrementally improved but not revolutionary. Citi slightly raised its 2025 iPhone shipment forecast,
Wed, Sep 3
US NFP Nightmares Preview: A Tiny August Revision, a Huge Annual Benchmark Cut And a Fed in Flux
TradingKey - Wall Street expects modest job growth and a rebound in the unemployment rate in August NFP report, a balanced outcome that could support a September rate cut. However, a massive downward revision — a “terrifying scene” — and anomalies on the supply side could plunge the Fed into deeper
Wed, Sep 3
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Japan’s Long Bonds Carry More Risk Than U.S. or European Debt as a Crucial Test Is Coming
TradingKey - Compared to Western economies, political turmoil in Japan adds an additional layer of pressure on its bond market, and Thursday’s 30-year JGB auction could become the “last straw” for investor confidence.
Wed, Sep 3
2025 Hottest US IPO Week: Klarna, Gemini, Figure Set for “Triple Launch”
TradingKey - 5 companies are now pricing their U.S. initial public offerings (IPOs) for the week starting September 8, with a total expected fundraising exceeding $3 billion, making it the busiest IPO week of 2025. Investors are closely watching the debut performance of Klarna, Gemini, and Figure.
Wed, Sep 3
LVMH and Kering Are “Back on Track” as China’s Consumer Recovery Boosts Luxury Giants
TradingKey - On growing optimism about an improvement in China’s consumer market, HSBC upgraded luxury giants LVMH (MC.PA) and Kering (KER.PA) — parent company of Gucci — from Hold to Buy, boosting both stocks more than 4% in early Tuesday trading on European exchanges.
Tue, Sep 2
Wall Street Sounds Alarm on “Black September” — Are U.S. Stocks and Global Long Bonds Doomed?
TradingKey - After an August marked by record-breaking equities and rate-cut-fueled bond rallies, financial markets are entering September, historically the weakest month for asset performance — a seasonal trend known as the “September effect.” On the first trading day of the month, long-term bond
Tue, Sep 2
Eurozone August CPI Rebounds Above 2%, But Diverging Rate Cut Outlook Weighs on Euro
TradingKey - The Eurozone’s August CPI rose to 2.1% year-on-year, up from 2.0% in July, marking the first time since April that inflation has exceeded the European Central Bank’s (ECB) 2% target. While the rebound strengthens expectations for a hold on rates in September, internal divisions within
Tue, Sep 2
