Edgen Stock·Nov 29 2025, 05:51
[1] Nvidia earnings ease AI bubble fears - Calamatta Cuschieri (https://cc.com.mt/blog/trader-talk/nvidia-ear ...)[2] U.S. markets rebound on Nvidia's strong earnings and AI optimism (https://moneybase.com/blog/news/u-s-markets-r ...)[3] Nvidia's Bumpy November - Business Insider (https://www.businessinsider.com/nvidia-novemb ...)
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Nov 29 2025, 06:45
China's Central Bank Declares All Cryptocurrency Transactions Illegal, Highlighting Stablecoin Risks
## Executive Summary The People's Bank of China (PBOC), in a coordinated effort with ten other government agencies, has issued its most definitive prohibition on cryptocurrency activities to date. The joint notice declares all virtual currency-related business activities to be "illegal financial activities," effectively outlawing everything from trading and order matching to token issuance and derivatives. In a significant expansion of regulatory scope, the crackdown now explicitly includes overseas exchanges providing services to residents in mainland China. The central bank also specifically identified stablecoins as a key area of concern, citing risks of financial crime and capital flight. ## The Event in Detail In a formal Q&A session posted on its website, the **PBOC** announced that all services related to virtual currencies are strictly prohibited. The notice, jointly issued by bodies including the Supreme People's Court and the Ministry of Public Security, consolidates and escalates China's long-standing policy on digital assets. The directive leaves no room for ambiguity, stating, "Virtual currency-related business activities are illegal financial activities." This includes the operations of overseas crypto exchanges catering to the Chinese market, which are now also deemed illegal. This move is designed to close a significant loophole that has allowed Chinese citizens to continue participating in the crypto market despite previous domestic bans. ## Financial Risks and Stablecoin Focus The PBOC's announcement places a strong emphasis on the financial mechanics of cryptocurrencies it deems illicit. Governor **Pan Gongsheng** specifically warned about the risks posed by stablecoins, which have grown rapidly in recent years. The central bank's primary concerns are that these digital assets create vulnerabilities in the financial system. > “They expose loopholes that can facilitate illegal fund transfers, terrorist financing, and money laundering,” Governor Pan stated. The PBOC’s analysis treats stablecoins not as a distinct asset class but as a subset of virtual currencies subject to the same prohibitions. The warning aligns with growing caution from global financial regulators regarding the integration of stablecoins into the mainstream financial system without sufficient oversight. ## Market Implications The immediate market sentiment following the announcement is bearish. By targeting overseas exchanges, Chinese authorities are aiming to sever the last major access point for domestic investors, potentially impacting global trading volumes and liquidity. The policy signals a commitment to a harsh crackdown on all crypto-related speculation and criminal activities, creating significant operational and legal risks for any platform servicing Chinese users. The explicit inclusion of stablecoins in the warning may also affect their adoption and perceived stability within the broader Asian market. ## Broader Context This declaration is not a reversal but a forceful reinforcement of policies initiated in 2017. However, the coordinated nature of the announcement across 11 major government and legal bodies, coupled with the direct targeting of overseas service providers, represents a major escalation. It underscores China's intent to completely insulate its financial system from the global cryptocurrency market. The move comes as many international financial bodies are themselves grappling with how to regulate the burgeoning digital asset space, particularly the rapid growth of stablecoins and their potential systemic risks.
Nov 29 2025, 05:53
Chicago PMI Unexpectedly Drops to 1.5-Year Low, Signaling Deepening Manufacturing Contraction
## Executive Summary The Chicago Purchasing Managers' Index (PMI), a key barometer of regional manufacturing health, reported a significant and unexpected decline in November 2025. The index fell to 36.3, a 1.5-year low, sharply missing economic forecasts and signaling a deepening contraction in business activity. This development extends the region's manufacturing downturn to two consecutive years and aligns with broader national data pointing to persistent weakness in the industrial sector. ## The Event in Detail The Chicago Business Barometer plummeted by 7.5 points, from 43.8 in October to 36.3 in November. This figure was well below the median market forecast, which had anticipated a more modest reading of 44.3. An index reading below 50.0 indicates a contraction in economic activity. The November result not only reinforces the ongoing negative trend but also shows an acceleration of the downturn, raising concerns about the sector's stability heading into the end of the year. ## Broader Context The sharp decline in the Chicago PMI is not an isolated event but rather a reflection of a wider trend impacting the U.S. manufacturing landscape. Data from the Institute for Supply Management (ISM) has shown that the national manufacturing sector has been in a state of contraction for several consecutive months. Following a period of 29 consecutive months of growth that ended in May 2020, the sector has struggled to regain momentum. The persistent contraction, both regionally and nationally, indicates that headwinds such as lower new orders and sluggish production continue to challenge industrial businesses. ## Market Implications The data points to sustained softness in the U.S. manufacturing sector, a critical component of the national economy. For investors and analysts, the unexpected severity of the Chicago PMI drop suggests that the economic slowdown in manufacturing may be more pronounced than previously anticipated. This could have several knock-on effects, including impacting corporate earnings for industrial companies, influencing Federal Reserve policy considerations, and tempering overall economic growth forecasts. The prolonged contractionary environment underscores ongoing challenges for industrial supply chains and labor markets within the sector.
Nov 29 2025, 05:42
Centuria Capital Group Achieves 77% Total Shareholder Return Over Three Years, Outpacing Market
## Executive Summary Over the past three years, **Centuria Capital Group (ASX:CNI)**, a specialist funds manager, has generated a total shareholder return (TSR) of 77%. This performance, which includes both share price appreciation and dividend payouts, significantly outpaces the 31% return of the broader market during the same period. The company's share price alone increased by 48%, indicating that dividends played a crucial role in the total return. This sustained growth is supported by strong earnings fundamentals and has been met with positive sentiment from market analysts. ## Performance in Detail The 77% TSR figure is a comprehensive measure of the return to investors. The notable gap between this and the 48% share price growth is directly attributable to the dividends distributed by the company. This highlights **Centuria's** strategy of not only pursuing capital growth but also providing regular income to its shareholders. Underpinning this performance is the company's robust financial health. Even during periods of share price decline, **Centuria Capital Group** achieved a 20% annual improvement in Earnings Per Share (EPS). This indicates a resilient business model capable of generating profit irrespective of short-term market volatility. Recent performance has also been strong, with shares recently gaining 5.8% in a single week and previously jumping 7.2% in one day following an analyst upgrade. ## Business Strategy and Market Positioning **Centuria Capital Group** operates as a specialist funds manager, a business model that has proven effective for over two decades. The firm