Fed & Rates: The Fed raised rates 25 bps for the first time in over three years and signaled more tightening, pushing stocks lower and flattening the Treasury curve. China Credit Shift: Traditional bank loans fell below 60% of China’s credit supply for the first time in seven years as borrowers shift toward cheaper bond funding and state-led debt swaps. Energy Market Stress: Shell and Equinor warned Middle East disruptions are lengthening tight supply and volatility, with “shock absorbers” weakening and recovery potentially delayed into 2027. Tokenized Assets Move Deeper: Ondo Finance joined DTCC’s Fund/SERV, a major step for tokenized funds entering mainstream post-trade rails; Anchorage Digital Bank expanded regulated custody to Etherlink and tokenized uranium exposure. Africa Inclusion & Infrastructure: Nigeria’s central bank and EFInA stressed inclusion must improve household and business resilience, while telecom groups urged lower financing costs to sustain digital infrastructure. Housing & Consumer Pressure: Consumer groups urged state probes into Zillow/Redfin practices tied to housing costs, as regulators and markets keep spotlighting affordability. Compliance & Markets: SEC fined ex-Okta employees in an insider trading case, while maritime finance coverage flagged rising sanctions risk from the evolving “shadow fleet.” Deal/Markets Watch: Grab agreed to buy 60% of Atome Financial for $1.49B, highlighting continued fintech expansion amid higher rates.