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Daily Outlook: United States has launched an investigation into Tesla's Autopilot system


The President of the Boston Federal Reserve expressed his possible support for the September reduction announcement:

Eric Rosengren, President of the Federal Reserve Bank of Boston, said that he expects employment growth in the United States to be sufficient for the central bank to announce plans to reduce bond purchases at its policy meeting next month. “If there is another strong labor market report, I think I will support the announcement in September that we will start the reduction plan,” Rosengren said in an interview with CNBC on Monday. "I think we may have met the standards we set by the time we meet in September. The obvious question remains whether the problem with the delta variant has begun to cause a slowdown in the labor market. So far, we have not seen it. ."


The Fed stated to the Federal Court that the premature cancellation of Libor would cause market chaos:

The Fed told the judge not to immediately abolish the London Interbank Offered Rate (Libor) in response to a request in a consumer lawsuit because it would pose a risk to financial stability and undermine the global transition to a new benchmark interest rate for many years. The Federal Reserve Board of Governors and the Federal Reserve Bank of New York submitted to the San Francisco Federal Court on Friday that the world is undergoing a transition process to gradually get rid of Libor, but the immediate termination of Libor through a court order may harm the interests of consumers and businesses.


New York State’s manufacturing growth has slowed from record levels, and price indicators remain high:

After growing at a record rate in July, a measure of manufacturing in New York State slowed down in August, while a measure of sales prices rose to a record high. Data released on Monday showed that the Federal Reserve Bank of New York's overall manufacturing business conditions index fell to 18.3 from 43 a month ago. The figure above zero indicates that the manufacturing industry is expanding. The median forecast of economists surveyed by Bloomberg was 28.5.


China’s holdings of U.S. Treasury bonds fell for the fourth consecutive month in June, and total overseas holdings are approaching a record high:

Data released by the U.S. Treasury Department showed that China’s holdings of U.S. Treasury bonds fell for the fourth consecutive month in June and fell to the lowest point since October last year, while the total holdings of U.S. Treasury bonds overseas increased. China's holdings in June decreased by US$16.5 billion to US$1.062 trillion, and its total holdings were second only to Japan. U.S. Treasury bonds held overseas rose for the third consecutive month, increasing by 66.8 billion U.S. dollars to 7.202 trillion U.S. dollars in June.


The United States has launched an investigation into Tesla's Autopilot system due to multiple collisions with emergency vehicles:

According to documents released on the website of the National Highway Traffic Safety Administration (NHTSA) on Monday, due to multiple accidents involving Tesla vehicles colliding with parked emergency vehicles, the agency has begun to conduct autonomous driving on Tesla’s Autopilot. The system launches a formal investigation. The survey involved an estimated 765,000 vehicles, including Tesla Model Y, X, S and Model 3 models from 2014 to 2021.


Pfizer submitted to the FDA early data on the effectiveness of the vaccine booster:

Early data submitted by Pfizer and BioNTech SE to US regulatory agencies showed that a third dose of their Covid-19 vaccine 8-9 months after completing the initial vaccination program will produce higher levels of protective antibodies. According to Monday’s announcement, the two companies expect to have evaluation results of larger final phase trials soon, which will then be submitted to the U.S. Food and Drug Administration, the European Medicines Agency and other regulatory agencies. Pfizer said last month that based on early data, the company will apply to US regulators for an emergency use authorization for the enhanced injection of its vaccine.


 "Big Short" Michael Burry shorted Cathie Wood's ARKK:

Michael Burry, famous for the movie "Big Short", has targeted one of the most popular stars on Wall Street. According to Monday’s regulatory filings, as of the end of the second quarter, Burry’s Scion Asset Management held put options on 235,500 ARK Innovation ETF (code ARKK) shares. The documents show that these positions are worth approximately $31 million. After the heavy stock of technology stocks strategy won in 2020, Cathie Wood and her company Ark Investment Management's flagship ETF has attracted a large influx of funds in the past year. But this year, due to concerns about high valuations and accelerating inflation, it is difficult for Wood and Ark to maintain this momentum.

Risk Warning: The above content is for reference only, and does not represent JRFX’s position. JRFX does not assume any form of loss caused by any trading carried out in accordance with this article. Please consult your financial planner for your investment portfolios and manage your own risk.

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