News Roundup

A private platform in the United States now settles an average of $354 billion a day in tokenized repo trades, four times what it handled a year earlier. Piero Cipollone, a member of the European Central Bank's Executive Board, cites that figure as proof that tokenization has moved from experiment to operating scale. Two days after he said so, his ECB colleague Isabel Schnabel told the Jackson Hole symposium that the asset this market actually needs to settle safely does not

The Treasury doubled its bond buybacks this week to bring long-term yields down. Instead, the market read the move as a signal of looser policy ahead and priced in more inflation, sending the 30-year Treasury to its highest level since 2007, the same week the Fed's own minutes showed three sitting officials voting to raise rates. What a Treasury Buyback Actually Does When the Treasury Department buys back its own bonds, it is not paying down the national debt. It is reshuffli

One statistic has carried the case that the American consumer is breaking. Between the third quarter of 2022 and the first quarter of 2026, the share of credit card balances 90 or more days past due climbed from 7.6% to 12.8%, prompting concern that Americans were falling behind on their debts at rates not seen since the Great Recession. On August 11 the Federal Reserve Bank of New York published the reconciliation of that number, and the answer sits with how lenders report o