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On January 28th, renowned Apple analyst Ming-Chi Kuo predicted that iPhone memory prices are now negotiated quarterly, rather than semi-annually, so iPhone memory prices will rise again in the second quarter of 2026. Currently, the quarter-on-quarter price increase in the second quarter is expected to be similar to that of the first quarter. Apples current pricing strategy for the new iPhone 18 in the second half of 2026 is to "avoid price increases as much as possible," at least keeping the starting price unchanged, which is beneficial for marketing and promotion. Apple has realized that after memory and T-glass, other components may also be affected by the AI server industry and experience supply shortages.SK Innovations reported fourth-quarter revenue of 19.7 trillion won, exceeding market expectations of 19.9 trillion won. The company reported a net loss of 4.2 trillion won for the quarter.On January 28, Cao Cao Mobility (02643.HK) announced that on January 28, 2026, the company entered into a placing agreement with the joint placing agents to place up to 12,000,000 placing shares to no fewer than six placees at a placing price of HK$32.46 per placing share (a discount of nearly 9%). These placees and their ultimate beneficial owners must be independent third parties. The gross proceeds from the placing are expected to be approximately HK$389 million, with approximately 67.7% of the net proceeds to be used for the development of the Groups domestic and international Robotaxi business.Bank of Japan meeting minutes: One member said that with wage growth expected to continue, underlying inflation is likely to gradually accelerate.Bank of Japan meeting minutes: One member stated that the recent rise in food prices was driven not only by one-off supply factors but also by rising labor and distribution costs.

The Devil Is In The Details: Gold Analysis - Federal Reserve Minutes

Larissa Barlow

Apr 07, 2022 10:33

Analyses of Federal Reserve Minutes 

While both the FOMC statement and Chairman Powell's press conference provide market participants with information about the FOMC's updated and revised monetary policy, it is the release of the minutes that provides investors with significantly greater clarity and understanding. The devil, as they say, is in the details.

 

The Federal Reserve issued the official minutes from its March FOMC meeting today, providing insight into the central bank's current plans to begin unwinding its balance sheet assets. Beginning in March 2020, the Federal Reserve will add around $4.6 trillion to its balance sheet by purchasing $120 billion monthly in mortgage-backed securities ($40 billion) and US Treasury securities ($80 billion), bringing their total to just over $9 trillion.

 

According to Federal Reserve Governor Lael Brainard, the Fed intends to employ a mix of interest rate rises and a quick run-off of the balance sheet to bring US monetary policy closer to neutral later this year.

 

However, the minutes released today imply that the Federal Reserve will unwind around $3 trillion over the next three years, reducing its $9 trillion balance sheet to $6 trillion. While the Fed appears to be indicating a quick runoff of its balance sheet, the reality is that the Federal Reserve's balance sheet will be nearly $2 trillion larger than it was prior to the epidemic.

 

"Participants continued their discussion on plans to reduce the size of the Federal Reserve's balance sheet in a manner consistent with the methodology outlined in the Committee's Principles for Reducing the Size of the Federal Reserve's Balance Sheet, announced following its January meeting."

 

Additionally, the minutes stated, "While no decision was made regarding the Committee's plan to reduce the Federal Reserve's balance sheet at this meeting, participants agreed that significant progress had been made on the plan and that the Committee was well positioned to begin the process of reducing the balance sheet's size as soon as after the conclusion of its upcoming May meeting."


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