BofA Securities: Sustained rises in oil prices could push interest rates significantly higher.
Bank of America Securities noted in a research report that if crude oil and refined product prices rise further in the next three to six months, it could lead to a "significant rise in interest rates". The U.S. two-year nominal interest rate swap, which reflects market expectations for interest rates over the next two years, has risen 113 basis points so far this year. However, Bank of America pointed out that on trading days when oil prices rose, this rate increased by a cumulative 196 basis points; on other trading days, it fell by a cumulative 83 basis points. The volatility of interest rates in the UK and Germany is even more pronounced. Bank of America believes that if energy inflation rises, the Federal Reserve may face fewer constraints when considering interest rate hikes, as U.S. economic growth and consumer performance are resilient, and the labor market remains relatively tight.
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Trump: Will soon decide whether to launch another strike on Iran, a Russia-Ukraine deal may be imminent
According to Axios, U.S. President Trump said Thursday after a meeting with senior national security advisors that he will soon decide whether to launch large-scale military action against Iran again. With the midterm elections concluded, the domestic political pressure the White House previously faced has shifted, and the Iran issue has once again become a diplomatic and security topic requiring a decision from the Trump administration. Two U.S. officials revealed that this was the first time Trump had held a dedicated discussion on the Iran issue with senior national security advisors since the midterm elections, and the meeting was scheduled during his weekly intelligence briefing. Meanwhile, Russia is pushing for an end to the Russia-Ukraine conflict through another diplomatic channel. According to Reuters, Trump confirmed Thursday that he held a private meeting with Putin's envoy Kirill Dmitriev that day. Trump did not disclose the specific details of his discussion with the Russian envoy, but noted that an agreement to resolve the Russia-Ukraine conflict could be reached soon.
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LITE and MRVL both dropped over 16%, with their swap discount expanding to 15.2%.
According to TradingBeats monitoring, the stock prices of Marvell and Lumentum continue to decline, with LITE’s discount relative to the exchange ratio consideration further widening. As of press time, the Lumentum (LITE) contract on Hyperliquid is priced at $535.74, while the Marvell (MRVL) contract stands at $140.56. Based on the merger agreement terms, each LITE share is exchanged for 4.5 MRVL shares, translating to a reference exchange value of approximately $632.52. LITE is $96.78 lower than this, marking a discount of around 15.3%. The combined 24-hour trading volume of the two contracts totals about $93.73 million. In the previous US trading session, MRVL fell 16.43% to close at $133.55, reducing the reference exchange value per LITE share to $600.98. LITE dropped 18.68% over the same period, closing at $509.70, pushing its discount relative to the exchange consideration from 12.84% to 15.19% — an increase of 2.35 percentage points. Per the agreement, Marvell intends to acquire Lumentum via an all-stock transaction, with each LITE share exchanged for 4.5 MRVL shares. The transaction is expected to close in the first half of 2028.
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Sources: Asian hedge fund Aspex loses 16% amid the October tech stock sell-off.
A source familiar with the matter said that Aspex Management, one of Asia’s largest hedge funds, posted a roughly 16% loss in October amid a global sell-off of AI-related stocks. This marks one of the largest monthly declines in the history of the $14 billion assets-under-management fund. However, as of the end of October, the pan-Asia equities-focused fund remains up 9% year-to-date.
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Solana co-founder Anatoly: Layer 1 teams should prioritize developing native products.
Solana co-founder Anatoly Yakovenko published a post stating that Layer 1 (L1) teams should prioritize developing native products built on their own L1 blockchains, rather than abandoning this direction amid external skepticism. He noted that product-market fit (PMF) is extremely difficult to achieve, with every product facing high failure risks. Additionally, only by actually building products on their own blockchain can teams identify functional gaps in their ecosystem relative to competitors.
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A trader who made $21.78 million in profits in a given year has entered a short position of 30,000 ETH.
According to on-chain analyst Ai Yi (@ai_9684xtpa), a trader who has generated $21.78 million in gains this year opened a 20x leveraged short position on ETH ahead of the recent price plunge, and now holds an unrealized profit of over $1.587 million. On October 30, the trader closed out long positions of 10,000 ETH and 1,000 BTC, locking in profits exceeding $20.553 million. Around 2 PM yesterday, after a six-day hiatus, the trader took action again, opening a short position of 30,000 ETH valued at $66.87 million at an average entry price of $2,283.23.
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