BNP Paribas: The Federal Reserve is unlikely to repeat its 2022-2023 interest rate hike cycle.
BNP Paribas strategist Chi Lo stated that despite market expectations of two additional interest rate hikes, a September rate increase by the Federal Reserve is unlikely to trigger a new tightening cycle similar to the 2022-2023 period. Instead, this move may signal the start of "preemptive rate hikes" designed to reverse last year’s three rate cuts and bring inflation back to the target level. He added that further hikes will not resolve external shocks such as the ongoing war and energy price inflation, but will ease financial market concerns over the Fed’s credibility in curbing inflation. The Federal Reserve cannot turn a blind eye to recurring shocks or those that fail to subside as anticipated. However, by suppressing inflationary pressures through slowing activity in other sectors of the economy, additional rate hikes could also risk pushing the economy into stagflation.
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Institutions: Expectations of a Federal Reserve interest rate hike are rising, and the Bank of Japan may accelerate its pace of interest rate hikes.
Mitsubishi UFJ Morgan Stanley Securities has brought forward its forecasts for the Bank of Japan (BOJ)’s interest rate hikes, shifting the timeline from the prior projections of January and June 2027 to December 2026 and April 2027. The brokerage’s analysts stated in a report: “As market expectations of further Federal Reserve rate hikes heat up, the BOJ’s pace of adjusting its monetary policy support may accelerate.” Minutes from the BOJ’s July policy meeting, released Monday, showed one policy board member noted that given core inflation is approaching 2% and greater focus should be placed on upside price risks than before, the pace of rate hikes could outpace market expectations.
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After Muse went viral, rumors have surfaced that Doubao’s entire team pulled together to build a competing product in just six days.
Beating AI Express (Dongcha) cites a scoop from Big Tech Daily: Doubao’s product line received an urgent task during the Mid-Autumn Festival to rapidly develop a product benchmarking Meta’s Muse. The project required joint debugging to be completed by September 27, with an experience version ready for internal review by September 30, giving a total timeline of just around 6 days. Multiple teams from Doubao’s product line and its upstream and downstream partners joined the development.
Meta’s Muse, which launched this month, has quickly gained popularity. Positioned as a Personal AI Agent, it connects to user-authorized services like email and calendar, operates browsers in an independent cloud environment, handles tasks such as shopping and travel, and continues running even after users exit the app. Reuters cited Apptopia data that Muse secured roughly 2.8 million downloads in the 12 days post-launch, with a growth rate exceeding that of ChatGPT’s mobile version at its initial release.
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Surging AI demand: VIS, a company in which TSMC holds a stake, hit full production at its first wafer fab in Singapore right after the facility launched operations.
According to Nikkei, VIS, a chipmaker in which Taiwan Semiconductor Manufacturing Co. (TSM.N) holds a stake, held the opening ceremony for its first advanced chip manufacturing plant in Singapore on Monday and is already planning a second facility. Driven by the AI infrastructure boom, the new plant’s production capacity was fully booked as soon as it launched operations. The wafer fab, named VSMC, is a joint venture between VIS and European chipmaker NXP Semiconductors. It began trial production in June, taking just 18 months from groundbreaking to trial runs—far faster than the more than two years typically needed to build a chip factory. VIS noted that the yield of its first batch of chips is at least 99%. The plant is scheduled to start mass production in early 2027. It will also assist TSMC in producing critical "interposers" for advanced chip packaging—substrates that connect different types of chips—serving leading AI chip makers including NVIDIA, Google, and Broadcom. TSMC is VIS’s largest shareholder, holding approximately 19% of its shares.
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Binance to Launch Multiple USDT-Denominated TradFi Perpetual Contracts
According to an official announcement, Binance’s derivatives platform will launch USDT-margined perpetual contracts for the following pairs at the specified times (all times are UTC+8):
- 17:00, September 28, 2026: OKLOUSDT
- 17:05, September 28, 2026: TWSTUSDT
- 17:10, September 28, 2026: CVNAUSDT
- 17:15, September 28, 2026: RUMUSDT
- 17:20, September 28, 2026: XOMUSDT
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