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On September 14th, sources familiar with the matter revealed that Anthropic has signed a six-year, $13.7 billion computing deal with Rum Group, a company with ties to social media and a long-standing connection to the Trump administration. Founded in 2013, Rum gained attention among conservatives after the 2020 US presidential election as a YouTube alternative for smaller content creators. In addition to hosting Trumps Truth Social, Rum also streams official White House broadcasts. This deal is the latest in a series of cloud computing agreements Anthropic has reached over the past year, partnering with major cloud service providers like Google, tech companies like SpaceX, and smaller new clouds like Nscale, driven by surging demand for its Claude Code and Cowork products. These agreements total at least 14,800 megawatts of computing power, costing up to $517 billion over the next decade. The deal with Rum will add to that total.Futures News, September 14th: Crude oil prices were volatile over the weekend, and domestic fuel oil transactions were sluggish at high levels, with trading slightly declining. However, the surge in the oil market at the open provided some support for oil prices. Industry players remained cautious, and it is expected that the focus of domestic fuel oil negotiations today will be on stabilization after the weekends decline, with most transactions driven by immediate needs.Oil pipeline closures, meeting postponements, ship attacks: A quick overview of pre-market crude oil prices converted between domestic and international markets in one chart.On September 14th, it was learned from industry sources that the Securities Association of China recently issued a notice to all securities companies, soliciting industry opinions on the "Implementation Rules for Integrity Practice of Securities Business Institutions and Their Staff (Revised Draft for Public Comment)," with a feedback deadline of September 29th. Article 13 clarifies the salary recovery and deduction mechanism, stipulating that once an institution confirms that a staff member has violated integrity practices, it can recover and deduct the salary in accordance with the labor contract and company policy. A positive incentive mechanism will also be established simultaneously, giving priority to those who proactively resist the transfer of benefits and report significant integrity risks in performance evaluations and promotions. This combination of recovery and incentives creates a more complete closed-loop constraint mechanism.As of 8:30 AM Beijing time, spot platinum was down 0.10% and spot palladium was down 0.16%.

GBP/USD seeks to regain 1.2300 as higher UK CPI strengthens the case for a rate hike by the Bank of England and the USD retreats

Alina Haynes

Mar 23, 2023 15:00

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During the Asian session, the GBP/USD pair attempts to reclaim the resistance level at 1.2300. Following a vertical correction, the Cable has recovered to near 1.2260 as the market anticipates that the absence of hawkish interest rate guidance from Federal Reserve (Fed) chair Jerome Powell while addressing the economy at the monetary policy meeting indicates that the Fed is close to ending its policy-tightening spell.

 

S&P500 futures have generated some gains in the Asian session following a decline on Wednesday as a result of Fed Powell's confirmation that the fight against intractable U.S. inflation will continue. Chairman of the Federal Reserve Jerome Powell has ruled out rate cuts in 2023, citing the difficulty of controlling inflation. In addition, US Treasury Secretary Janet Yellen's statement that the government "does not plan to insure all uninsured bank deposits" heightened fears of a banking sector collapse.

 

Following a recovery move, the US Dollar Index (DXY) has retreated on expectations that additional credit tightening to protect banking institutions will reduce overall demand, economic activity, and inflation. In the interim, the demand for US government bonds has increased as a result of expectations that US Janet Yellen will end further policy restrictions and reduce support for all bank deposits.

 

On the front of the United Kingdom, the Pound Sterling is likely to maintain its strength as the Bank of England (BoE) is scheduled to raise rates for the eleventh consecutive time. Governor Andrew Bailey of the Bank of England is expected to raise interest rates by 25 basis points (bp) in response to rising food and non-alcoholic beverage prices, as well as rising energy costs, which have contributed to inflation in the United Kingdom.

 

In the midst of global banking turmoil, the Bank of England's (BoE) interest rate decision will be difficult, as policymakers were divided over whether to raise rates further or maintain them at their present level.


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