FOFA

On July 31, 2026, the US and Japanese governments conducted their first joint intervention in the foreign exchange market since 2011, which also marked their first coordinated purchase of the Japanese yen since the 1998 Asian Financial Crisis. One of the core tools that played a pivotal role in this operation was the Federal Reserve's FIMA (Foreign and International Monetary Authorities) Repo Facility. The backdrop to this intervention was the yen plunging to a near 40-year low, approaching...

According to the latest 2026 polling data from the Lowy Institute, an Australian think tank, the attitudes of the Australian public toward the world's two major powers—the US and China—have undergone a historic reversal over the past four years. This is primarily reflected in the following areas: 1. A "Precipitous" Drop in Trust in the United States Australian trust in the US to "act responsibly in the world" plummeted from 65% in 2022 to 31% in 2026, marking the lowest point in the 20-year...

Generation Z's wealth inheritance is a process filled with contradictions and redefinitions. They are facing the largest wealth transfer wave in history, with an estimated $84 trillion to $124 trillion in assets expected to change hands over the next 20 years. However, this group of young heirs is reshaping the landscape of "inheritance" using concepts, anxieties, and actions that are starkly different from the previous generation. The Beginning of Contradictions: The Gap Between Expectations...