Japan's Economy Shrinks for the First Time in Six Quarters, May Impact Central Bank's Rate Hike Timeline

[Sharp Decline in Japanese Long-Term Government Bonds as Market Worries Over Economic Stimulus Plan Increasing Debt Issuance] Japanese long-term government bonds fell sharply on Monday as the market expressed concerns that the first economic stimulus package, expected to be announced by the Japanese government this week, might increase debt issuance. The 20-year bond yield rose to its highest level since 1999, the 30-year yield climbed 5 basis points to 3.26%, and the 40-year yield increased 5.5 basis points to 3.6%. Traders are focusing on the actual fiscal spending scale in Prime Minister Sanae Takaichi's economic plan, worried that higher debt issuance could destabilize the market. GDP data released on Monday supports Takaichi's stance on pushing for a large-scale stimulus plan, while the Bank of Japan is still expected to raise interest rates in the coming months. Daiwa Securities stated that concerns over the stimulus plan have made investors cautious, putting pressure on long-term bonds.

[European Central Bank Official Warns Stablecoin Runs Could Impact Interest Rate Policy] European Central Bank policymaker Olaf Sleijpen has warned that stablecoin runs could force the ECB to reconsider its interest rate policy.

[New York Fed President Williams Convenes Primary Dealers to Discuss the Effectiveness of Repo Tools] New York Fed President Williams urgently convened primary dealers last week to discuss the effectiveness of the standing repo facility. The persistent breach of short-term repo rates beyond policy targets has drawn the Federal Reserve's attention to the strained conditions in the money market.

[Crypto Project Flying Tulip's Fund Management Institutions Spark Controversy, Community Suggests Re-Evaluation] On November 17, crypto KOL @Cbb0fe suggested on the X platform that Andre Cronje re-evaluate the fund management institutions for Flying Tulip's $1 billion fund. The current fund managers are MEV Capital and Re7 Labs, but these two institutions have performed poorly in the recent series of DeFi-related collapses. Flying Tulip is a crypto project newly founded by Andre Cronje in September this year. It previously completed a $200 million private seed round financing at a $1 billion valuation, with investors including Brevan Howard Digital, CoinFund, DWF Labs, and others. The financing was conducted through a Simple Agreement for Future Tokens (SAFT) structure. The project plans to build an on-chain trading platform covering the DeFi sector, including functionalities for spot trading, derivatives, lending, stablecoins, and insurance.

[SlowMist Founder Yu Xian: Private Keys of Some NoFx Open-Source Automated Trading System Users' Wallets Leaked] On November 17, SlowMist founder Yu Xian stated that some users of the NoFx open-source automated trading system have experienced wallet private key and CEX/DEX API key leaks, resulting in actual cryptocurrency theft incidents. To mitigate risks, SlowMist has collaborated with relevant security teams to notify affected users before disclosing related details.