If US, Europe Don't Move on Greenland's Minerals, the Island Could Partner With China: Minister
Greenland's minister for mineral resources, Naaja Nathanielsen, hinted at that possibility in an interview with the Financial Times published on May 27.
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4 hours ago
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Goldman Sachs says we're on the verge of a stablecoin gold rush worth trillions
Goldman Sachs and U.S. Treasury Secretary Scott Bessent expect a stablecoin gold rush, driven by new regulations and massive potential for payment market expansion. Stablecoins, which must be backed by U.S. dollars or Treasuries, could boost demand for government bonds, though some argue this mostly redistributes money, rather than increasing the net demand for debt. U.S. Treasury Secretary Scott Bessent believes stablecoins will buoy the market for U.S. Treasuries, and the government will sell more short-term debt to meet that demand, according to the Financial Times. 'Bessent has signalled to Wall Street that he expects stablecoins, digital tokens that are backed by high-quality securities such as Treasuries, to become an important source of demand for U.S. government bonds,' the FT reported. The FT's sources asked for anonymity but there was no need for them to be coy: Bessent said in a press statement back in July that he expected demand for cryptocurrencies—backed 1:1 with U.S. dollar instruments—to support the price of bonds: 'This groundbreaking technology will buttress the dollar's status as the global reserve currency, expand access to the dollar economy for billions across the globe, and lead to a surge in demand for U.S. Treasuries, which back stablecoins. The GENIUS Act provides the fast-growing stablecoin market with the regulatory clarity it needs to grow into a multitrillion-dollar industry,' he said at the time. The GENIUS Act, announced last month, 'aligns State and Federal stablecoin frameworks, ensuring fair and consistent regulation throughout the country' the White House said at the time. So how big a deal will this be? Goldman Sachs thinks we're at the beginning of a stablecoin gold rush, according to a research paper published today by the bank's Will Nance and others. 'Stablecoins are a $271bn global market, and we believe USDC [the stablecoin issued by Circle] benefits from market share gains on and off of partner Binance's platform, as ongoing stablecoin legislation legitimizes the ecosystem, and the crypto ecosystem expands, also potentially catalyzed by legislation. Based on current trends and announced initiatives, we see $77bn of growth in USDC, or a 40% CAGR, from 2024-27E,' they wrote. The potential total market for stablecoins is in the trillions, Goldman says. 'Visa sizes the addressable market for payments at ~$240 trillion in annual payment volume, with consumer payments representing ~$40 trillion of annual spending. B2B payments comprise roughly ~$60bn while P2P payments and disbursements comprise the remainder. 'As such, payments are the most obvious source of (total accessible market) expansion for stablecoins over the longer term. This opportunity is largely untapped so far, with the majority of stablecoin activity being driven by crypto trading activity and demand for dollar exposure outside of the U.S.' Because stablecoins in the U.S. must be backed 1:1 with dollars or U.S. bonds, each stablecoin issued increases the demand for the bonds that back them. Some people think this will alter the bond market, especially for short-dated bonds with low interest yields. A research paper by the Bank for International Settlements (an international organization that fosters cooperation between central banks), says it will. 'A 2-standard deviation inflow into stablecoins lowers 3-month Treasury yields by 2-2.5 basis points within 10 days,' the BIS paper estimated. But the effect is 'asymmetric': 'Stablecoin outflows raise yields by two to three times as much as inflows lower them,' the paper said. UBS's Paul Donovan is more skeptical: 'U.S. Treasury Secretary Bessent is reportedly getting excited that stablecoins might increase demand for short-dated U.S. Treasuries, helping finance the unsustainable U.S. fiscal position. However, stablecoins are more about redistributing money supply. Someone selling Treasury bills to buy stablecoins, which invest the money in Treasury bills does not change demand for US debt instruments,' he told clients this morning. Here's a snapshot of the markets prior to the opening bell in New York: S&P 500 futures were flat this morning, premarket, after the index closed down 0.59% yesterday. STOXX Europe 600 was up 0.13% in early trading. The U.K.'s FTSE 100 was up 0.23% in early trading. Japan's Nikkei 225 was down 1.51%. China's CSI 300 was up 1.14%. The South Korea KOSPI was down 0.68%. India's Nifty 50 was up 0.28% before the end of the session. Bitcoin fell to $113.9K. This story was originally featured on Sign in to access your portfolio
Yahoo
6 hours ago
- Yahoo
1 Reason to Buy NVO
Key Points It is clearly very effective at developing drugs. Its Wegovy recently earned FDA approval for a new indication. 10 stocks we like better than Novo Nordisk › It's one thing for a pharmaceutical company to have a blockbuster drug in its portfolio. It's quite another if such a product can be successfully extended to win approvals for other indications. This is one huge reason to believe in the future of Novo Nordisk (NYSE: NVO), the Danish company behind the immensely popular Wegovy obesity treatment. Last week the company earned a new feather in its cap with the product, and it feels as if it has far more distance to go with drug discovery. Wegovy has legs In mid-August the company hit paydirt when the U.S. Food and Drug Administration (FDA) approved it as a treatment for noncirrhotic metabolic dysfunction-associated steatohepatitis (MASH) in adult patients with moderate to advanced liver fibrosis. The drug is intended to be used in combination with an increase in physical activity, and a reduction in caloric food intake. It probably goes without saying that America's obesity problem affects far more individuals than does MASH. But Novo Nordisk's successful development of the drug to treat the liver disorder demonstrates two very positive things; 1) Wegovy (and by extension its sibling medication, Ozempic) has the potential to treat numerous other afflictions and, 2) generally, the company is adept at developing its molecules for a variety of indications. Pipeline to greater success? Novo Nordisk has quite the impressively wide pipeline, and semaglutide (the molecule which is the primary ingredient of Wegovy and Ozempic) is only one part of it. It's in the later stages of investigating the drug for treatment of Alzheimer's; meanwhile, it's got a host of other molecules in programs aimed in many therapeutic directions. With such a high pitch of activity, the future is bright for semaglutide and other investigational drugs. And, by extension, their developer. Should you buy stock in Novo Nordisk right now? Before you buy stock in Novo Nordisk, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Novo Nordisk wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $671,466!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,115,633!* Now, it's worth noting Stock Advisor's total average return is 1,077% — a market-crushing outperformance compared to 185% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 18, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Novo Nordisk. The Motley Fool has a disclosure policy. 1 Reason to Buy NVO was originally published by The Motley Fool
Yahoo
9 hours ago
- Yahoo
EU Tech Regulation Could Be Holding Up Final Trade Agreement With U.S.
The European Union and the United States seem to be at a technology-focused impasse. Leaders expected to see a finalized trade agreement or statement come down mere days after U.S. President Donald Trump's meeting in Scotland with European Commission President Ursula von der Leyen on July 27, but the final details have yet to be agreed upon, according to a report from the Financial Times. More from Sourcing Journal India and China: US Tariffs Turn Rivals Toward Friendship in Major Geopolitical Shift India Suspends Duties on Raw Cotton Imports, Benefitting US Exporters Amid Tariff-Driven Price Hikes, Goodwill Aims to Pick Up Traffic Lost By Online Marketplaces Trump and von der Leyen's meeting yielded a 15-percent tariff on many goods inbound from the bloc, a higher rate than initially hoped for by EU leaders, but still down from the higher levies Trump threatened to institute. Still, EU officials cited by the FT said 'non-tariff barriers' continued to hold up newspaper reported Sunday that the formalized trade agreement between the two nations has been stalled because of the EU's Digital Services Act (DSA). While leaders in Washington hoped to see a relaxation of the regulation in the name of innovation, EU leaders have no interest in that possibility. Despite the EU's supposed hard stance against leniency in the DSA, U.S. officials reportedly told the outlet that the bloc had agreed to discuss digital laws. 'We continue to address digital trade barriers in conversations with our trading partners and the EU agreed to address these barriers when our initial agreement was struck,' the U.S. official reportedly said. For some companies, a purported barrier to further growth has been the regulatory environment outside the U.S., or the rising concern from state governments about artificial intelligence, privacy and other technologies. Washington's stance has been that the DSA and the EU AI Act, which the report did not mention, are two specific examples of regulations that can stifle innovation and force U.S.-based companies to add unnecessary costs into the equation. The DSA is a landmark EU legislation that aims to create a safer digital environment for citizens of the bloc, including children. It places special restrictions on what it calls very large online providers (VLOPs), demanding that those companies comply with harsher provisions of the regulation than their smaller counterparts. Current VLOPs, which are companies that have garnered more than 45 million monthly users in the EU, include Amazon, AliExpress, Google, TikTok, Shein, Temu, Zalando and others. Some companies that are included as VLOPs, including Amazon, Apple, Google, Meta and Microsoft, are U.S.-founded companies that have grown rapidly on an international scale. Despite their primary footholds being in the U.S., the companies are required to comply with applicable laws globally. Amazon has publicly disputed its status as a VLOP, asking an EU court to scrap the designation, primarily focusing on the argument that retail platforms should not be categorized as VLOPs. When Amazon went before the court in June, a spokesperson told Sourcing Journal that the marketplace 'does not pose any such systemic risks; it only sells goods, and it doesn't disseminate or amplify information, views or opinions.' Amazon's fate in the matter remains to be seen. That the U.S. reportedly has an interest in loosening laws that impact the administration's allies in Big Tech coincides with some of the announcements that have come from Trump in recent months. Specifically, the president and his allies have set forth pathways for continued growth of AI in Trump's AI Action Plan; called for general deregulation of technologies as the U.S. aims to become a leader in the industry; dismantled an executive order from former President Joe Biden related to the trustworthy and safe development of AI models; introduced their intent to allow technology players to access permits with disregard for the environment and more. As far as Trump is concerned, the U.S. remains in a technology war with China—and the president has been unrelenting in his stance that the U.S. can, and should, win the race. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
