Author: 行政

A large volume of US commercial real estate (CRE) debt is rolling into a very different market from the one that produced it.The Mortgage Bankers Association says $875 billion of commercial and multifamily mortgages are scheduled to mature in 2026, equal to 17% of the roughly $5 trillion of outstanding balances it tracks.While that’s below the $957 billion that was due in 2025, it’s still a massive refinancing event landing in a world where borrowing costs are far higher than they were when many of these loans were made. Related ReadingReal estate’s quiet crash: your home is worth less than…

Headlines about Bitcoin ETF outflows often mix two things: Bitcoin’s price move and actual share redemptions.If BTC drops, ETF AUM drops in dollars even if nobody sells a single share. That mark-to-market drop gets read as money leaving, and it can look like an institutional exit when the wrapper’s Bitcoin holdings and shares outstanding barely move.To understand whether investors are actually leaving, you have to separate the USD thermometer from the BTC and share-count thermometer. Related ReadingForget CPI and ETFs — oil prices may now be the biggest signal for BitcoinBitcoin’s macro tell right now isn’t a CPI print or…

Whitman Expos retuns to the Baltimore Convention Center for 3 days of of buying, selling, trading, and discovery March 5-7, 2026. Whitman Expos will host its Spring Coin Expo from March 5-7, 2026, at the Baltimore Convention Center’s Halls F & G, bringing collectors, dealers, and numismatic enthusiasts together for three days of buying, selling, trading, and educational programming. Recognized as one of North America’s leading coin and collectibles shows, the Whitman Spring Coin Expo is open to the public with free admission, though attendees must present a government-issued photo ID. Organizers expect participation from collectors and professionals nationwide, with…

When crude starts leading the headlines, crypto people tend to ask the wrong questions, like what it is that oil actually does to Bitcoin.While it’s the simplest and easiest way to explain what you don’t know, it’s a pretty bad question. A better one is what oil actually does to the cost of money, because Bitcoin is now trading like a live chart of liquidity expectations.Oil is one of the fastest ways to force that repricing, especially when the move comes from geopolitics and shipping risks rather than a slow increase in demand for BTC.That’s basically the backdrop right now.…

The first U.S. Mint images of the 2026-W Proof American Gold Buffalo are now available, highlighting its semiquincentennial dual date, 1776 ~ 2026, and a Liberty Bell privy mark bearing the numeral “250.” Image showing the obverse and reverse of the 2026-W Proof American Gold Buffalo coin with dual date 1776 ~ 2026 and Liberty Bell “250” privy mark. Struck at the West Point Mint in one ounce of .9999 fine 24-karat gold, the piece is scheduled to go on sale May 7. The coin will not come cheap. Pricing will not be finalized until shortly before release and may…

Bitcoin’s rebound on March 4 looked odd if you only watched it through the usual “risk assets are breaking” lens. Oil was jumping, shipping insurers were repricing war risk, and traders were treating the Strait of Hormuz like a live wire. All of the headlines had the cadence of a full-blown crisis.However, Bitcoin climbed back into the same $70,000 zone it has been orbiting for weeks, despite seeing a notable drop the weekend before.Two factors explain that move.The first is a pretty straightforward macro influence. Whenever the Middle East starts seeing oil shocks, markets quickly price in higher energy costs,…

AI is raising demand for builders, not erasing themIn February, a Citadel Securities analysis using Indeed data showed software-engineer job postings rising while overall job postings stayed weaker.That split does not mean AI is creating jobs across the whole economy. However, one of the clearest fears around large language models may be somewhat overblown. The current narrative is that companies will need fewer skilled builders as the tools improve, but this has not shown up in this part of the labor market.The sharpest conclusion is narrower and stronger. AI is increasing the value of people who design systems, test outputs,…

Washington lawmakers are moving on multiple fronts to curb the most politically toxic corners of prediction markets after millions of dollars flowed into bets tied to US-linked military action in Iran.Over the past week, several Democratic lawmakers have been pursuing multiple paths to rein in the fast-rising business.One effort, led by Rep. Mike Levin and Sen. Chris Murphy,  focuses on war-related contracts that critics say should never have been listed.Another, spearheaded by US Senators Jeff Merkley and Amy Klobuchar, would seek to bar elected officials and senior executive branch officials from trading event contracts altogether.The central tensions in these efforts…

Bitcoin’s brief rally above $73,000 during the past day has the feel of a price performance that could still fade, fast, noisy, and familiar to anyone who has watched bear-market rebounds fail.What is different this time is not the price print, but the growing alignment of signals pointing to a possible transition out of peak negative momentum.For context, Swissblock’s momentum framework showed that Bitcoin was climbing out of a deeply negative zone that has tended to appear near major transitions.According to the firm:“We’re exiting peak negative momentum, the kind of transition that often precedes a regime change. The key test…

President Donald Trump projected four to five weeks for the conflict with Iran to come to an end. The market priced its playbook: headline shock, brief spike, diplomatic theater, then normalization.That script worked in 2019 when drones hit Saudi Aramco facilities, and Brent jumped 15% only to surrender the entire gain within weeks. Traders bought the panic, sold the resolution, and moved on.Brent crude comparison chart shows the 2026 US-Israel-Iran conflict maintaining a 17% price surge through day six, diverging from the 2019 Aramco attack’s rapid reversal pattern.However, six days into the US/Israel-Iran escalation, Brent is at $85.49, up 17%…