- Japan to Announce Record Budget: According to Bloomberg, the Japanese government is expected to approve a record preliminary budget for the next fiscal year on Friday, totaling around 115.5 trillion yen. Among them, defense spending will rise by more than 10% to 8.5 trillion yen, and local government allocations will increase by about 7%. Meanwhile, record tax revenues will reduce the scale of new debt issuance by nearly one-fifth.

- U.S. Banks Sue the Federal Reserve: The 'Bank Policy Institute,' representing the interests of major U.S. banks like JPMorgan Chase, Citibank, and Goldman Sachs, along with several business organizations, filed a lawsuit against the U.S. Federal Reserve starting on the 24th. Bloomberg reports that the plaintiffs are asking the court to rule that the models and scenarios used by the Fed in the stress tests for 2024, 2025, and 2026 are 'illegal,' while also requesting that the Fed accept public review before releasing the test models.

- Possible Divisions within the Federal Reserve FOMC: According to Bloomberg analysis, more divisions may arise within the Federal Open Market Committee of the Federal Reserve in 2025. Additionally, lawsuits from the U.S. banking industry and business groups against the Federal Reserve, along with Elon Musk's criticism of the Fed for being 'overstaffed', could cause varying degrees of disruption to the Fed's operations.

- Technology Stock Performance: According to CNBC, AI and cryptocurrency have driven the five major tech stocks to multiply in value this year. For instance, Applovin's market value surged to $110 billion, with its stock price up 758% this year; Microstrategy's stock price rose 467% driven by its Bitcoin purchasing strategy; Palantir's stock price increased by 380%; Robinhood's stock price has more than doubled this year; Nvidia's market value increased by $2.2 trillion due to the generative AI boom.

- Market Dynamics: The yield on 10-year U.S. Treasuries remained basically flat, with the 2-year Treasury yield at 4.3324%, the 5-year Treasury yield at 4.4419%, and the 30-year Treasury yield at 4.7618%. In the foreign exchange market, the EUR/USD rose by 0.08% to 1.0407 USD, USD/JPY rose by 0.09% to 157.33 JPY, GBP/USD rose by 0.18% to 1.2561 USD, AUD/USD rose by 0.03% to 0.6239 USD, the USD against offshore RMB fell by 0.06% to 7.3027 CNY compared to the previous day’s New York close, and the USD against onshore RMB fell by 0.01% to 7.2940 CNY in the night session.

- Bitcoin Surge: Bloomberg reports that the price of Bitcoin has risen after MicroStrategy announced plans to split and issue more stocks, enabling it to purchase more Bitcoin. The market is full of expectations regarding MicroStrategy's Bitcoin purchases, driving up the price of Bitcoin.

- Corporate Dynamics: Automobile manufacturer Toyota's global production in November decreased by 6.2% compared to the same period last year, while its sales in China increased by 7.0%.

- Public Events: Guangzhou is seeking opinions on the new ban on dangerous dog breeds, planning to remove the Chinese rural dog from the dangerous dog list; Shenzhen's personal pension fixed deposit interest rate at major commercial banks is around 2%, and the comprehensive return of pension insurance products can reach 3.9%; JD.com announced that the fixed monthly salary of over 20,000 JD customer service staff will be significantly increased, with an average salary increase of 2 months for all employees.

- Military and Security: The U.S. Marine Corps stationed in Okinawa has begun relocating to Guam; foreign media report that an Azerbaijani passenger plane carrying 72 people has crashed in Kazakhstan, with the number of casualties rising to 38, and initial assessments suggest that the cause of the crash may be a collision with a flock of birds.

- Diplomatic Relations: Japanese Foreign Minister's winter visit to China resulted in 10 consensus agreements, Japan will relax visa restrictions for China, introducing a 10-year tourist visa and extending group travel visas to 30 days.

- Medical Health: Russia has successfully developed a new anti-cancer vaccine that can alleviate multiple cancer deteriorations, which will be distributed free of charge to domestic patients next year.

All information is for reference only and does not constitute any investment advice.