Federal Reserve Governor Jefferson: No Need to Hurry to Further Cut Interest Rates, Strong Economy Makes Caution Appropriate

June 9 – Nikkei News reports that Japan’s three largest banks plan to jointly issue a Japanese yen-pegged stablecoin by the end of Japan’s 2026 fiscal year. The group has set up a coordination mechanism to advance work on designing use cases and operational processes for real-world transaction scenarios. Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank are expected to sign a basic agreement soon. Since November 2025, the three institutions have been conducting joint pilot trials under the guidance of Japan’s Financial Services Agency (FSA) to prepare for the stablecoin’s launch. Moving forward, the coordinating committee will continue to promote the stablecoin’s practical application and commercialization, aligned with relevant laws and regulations as well as broader market development trends.

June 9 — Analyst Divyang Shah reports last Friday brought a sharp selloff across the U.S. stock market, with AI and tech sectors bearing the brunt of the decline. A mix of factors fueled the pullback, but the most impactful driver was a sudden pivot in market volatility: the VIX "fear index" jumped above the 20 threshold, and VIX futures moved in lockstep. That volatility shock has since eased, though the VIX spot level remains marginally elevated relative to levels ahead of last Friday’s plunge. The spread between the near-month VIX futures contract and the spot price has narrowed back to equilibrium, and the broader VIX futures curve has shifted modestly lower while still retaining its overall upward slope. This pattern signals market sentiment hasn’t undergone a fundamental reversal—with the overall outlook continuing to lean optimistic. Investors are still cautious after the recent strong gains in AI and tech stocks, but as last Friday’s losses are gradually absorbed, the market

June 9 — CoreWeave, an AI infrastructure provider, saw its executives offload over $2.3 billion in company shares following the end of the firm’s lock-up period, Bloomberg reported. The primary sellers behind the trades are co-founders Michael Intrator, Brannin McBee, and Brian Venturo. All sales were executed through 10b5-1 preset trading plans, which allow corporate insiders to sell stock under predetermined schedules and rules— a standard framework to reduce risks of insider trading allegations. A CoreWeave spokesperson told Bloomberg that the founding team remains bullish on the company’s long-term prospects, framing the share sales as moves to generate personal liquidity and diversify their investment portfolios. In a standout detail, Chief Strategy Officer Brian Venturo alone has sold more than $1.1 billion in shares since the lock-up period expired in August, making him the second-largest individual insider seller by total proceeds this year.

June 9. According to a report from Caixin, Norman Chan, Chief Executive of the Hong Kong Monetary Authority, led a delegation from the Hong Kong Association of Banks to Beijing recently and sat for a group media interview on June 8. During the interview, Chan covered key market topics including Hong Kong’s stablecoin licensing framework, cross-border financial oversight, and the internationalization of the renminbi (RMB). Chan noted Hong Kong stands as a core hub for accessing the mainland Chinese market, boasting three key advantages: a robust institutional system, strategic geographic positioning, and a mature market ecosystem. Going forward, the city will continue attracting global capital inflows. On stablecoin licensing plans, Chan revealed that AnChain Technology is on track to launch a stablecoin by mid-year, with trial usage likely kicking off in the coming weeks. HSBC, meanwhile, is set to launch its own stablecoin between the third and fourth quarters of this year. The two

June 9: ADP data shows the U.S. weekly nonfarm payroll change came in at 29,000 for the week ended May 23, down from the prior reading of 35,750. (FXStreet)

June 9 – The renowned "White-Haired Stock Sage" Serenity posted on social media that a cohort of mid-cap and small-cap companies with AI exposure (sporting market capitalizations between roughly $10 billion and $100 billion) are still compelling trading opportunities in today’s market. These names include: ASX, Sumitomo Electric, JBL, VICR, GFS, AAOI, AlChip, TSEM, FN, Furukawa Electric, CLS, NBIS, NOK, AMKR, LITE, and COHR. Serenity added that this basket of "AI exposure trades" collectively has a market cap in the $10 to $100 billion range, and may currently deliver a more favorable risk-reward profile than the substantially appreciated Arm Holdings and Marvell Technology. The investor revealed he only holds positions in NBIS, TSEM, and AAOI personally, but opined that all the highlighted stocks still have room for further upside.