PANews, December 2 - The Aave community has proposed a temperature check proposal titled "Focusing on Aave V3 Multi-Chain Strategy," suggesting adjustments to its multi-chain strategy, including increasing the reserve ratio for underperforming networks to boost revenue, shutting down low-yield markets on zkSync, Metis, and Soneium, and setting a clear annual revenue floor of $2 million for new instance deployments.

ChainCatcher message, at the "Integration, Rise, and New Cycle" themed forum recently held by RootData in Dubai, USDD Communications Director Yvonne Chia delivered a speech on the topic "Is a yield-generating stablecoin truly possible," systematically elaborating on the realization path of yield-generating stablecoins. In the speech, it was pointed out that traditional stablecoins have long faced the contradiction of "cannot achieve both returns and stability." USDD makes it possible for stablecoins to be both stable and profitable by constructing four pillars: stable sources of income, expanding application scenarios, flexible infrastructure, and full-chain transparency. Among them, sUSDD supports a dual-layer income mechanism of "holding income + liquidity provision," and will integrate with diverse scenarios such as lending in the future, continuously expanding the boundaries of income. At the infrastructure level, USDD has completed the protocol upgrade from 1.0 to 2.0, enabling users to access through C

Odaily News According to Saylortracker data, the mNAV of Strategy (MSTR) has fallen below 1 again, currently reported at 0.99 (indicating that the company's market capitalization has fallen below the value of its 650,000 Bitcoins holdings). Currently, the company's Bitcoin holdings are valued at 56.83 billion USD, with an average purchase cost of 74,436 USD, and the Bitcoin yield to date is 17.46%.

Odaily News Gold prices fell on Tuesday from a more than six-month high, with Spot gold losing the $4200 per ounce mark during the day. This was partly due to the rise in U.S. Treasury yields and profit-taking that weighed on prices, while investors awaited U.S. economic data to assess the Fed's policy path. The Benchmark 10-year U.S. Treasury yield remained near a two-week high, diminishing the appeal of non-yielding assets like gold. KCM Trade chief market analyst Tim Water noted: "Gold has performed weakly today, but the fundamentals remain unchanged— including the expected Fed rate cuts, which should support gold prices from a yield perspective." Market sentiment is cautious, with expectations that the core PCE price index, a favored inflation indicator by the Fed, will remain moderate when released on Friday. Additionally, key U.S. data this week includes the November ADP employment report on Wednesday. (Jin10)

BlockBeats news, on December 2, as the largest overseas creditor of U.S. Treasury bonds, Japan may trigger the repatriation of domestic funds from U.S. Treasury bonds and other overseas assets if it tightens its monetary policy, disrupting the downward trend of U.S. Treasury yield and adding uncertainty to the global market. On Monday, after Bank of Japan Governor Kazuo Ueda hinted at a possible interest rate hike later this month, global government bond yields generally rose (yields rise when bond prices fall). This statement surprised investors, who had expected the Bank of Japan to remain inactive. Ueda's remarks pushed Japan's 10-year government bond yield up to 1.879%—the highest closing level since June 2008. The U.S. 10-year Treasury yield also rose to close at 4.095%, while it was slightly below 4% in the middle of last week. Wall Street is concerned that the rise in Japanese bond yields will attract funds away from U.S. investments.

According to the Gate News bot announcement, the Gate platform has launched an additional rewards pool activity for the BTC 7-day fixed investment in Simple Earn. This financial product offers an additional 10% annualized bonus on top of the original earnings, making the overall annualized return rate as high as 10.28%. Gate has set up an additional rewards pool totaling 1,000,000 RLS tokens for this activity. Rayls (RLS) is a blockchain ecosystem that connects traditional finance with decentralized finance, utilizing a high-performance public EVM Layer-1 and private chain architecture to provide institutions with compliant digital asset issuance and settlement solutions, while offering institutional-grade liquidity to DeFi users. The project aims to promote global asset tokenization through quantum-safe privacy protection and interoperability design.

Bitcoin long positions have been hoping that the Fed will cut interest rates, leading to a decline in bond yields and a weaker dollar, thus bringing a new round of risk appetite to the crypto market. However, despite strong expectations for interest rate cuts, the 10-year U.S. Treasury yield and the dollar index have shown resilience, posing challenges to this traditional logic. The market generally expects the Fed to cut interest rates by 25 basis points on December 10, continuing the easing cycle that began last September. Several institutions even predict that rates will further drop to 3% next year. According to historical patterns, a decrease in interest rates usually lowers government bond yields and weakens the dollar, creating a favorable environment for risk assets like Bitcoin.

Ripple's stablecoin RLUSD has rapidly expanded one year after its issuance, with a total supply reaching $1.26 billion. However, 82% (approximately $1.03 billion) is deployed on Ethereum, while the native XRP ledger (XRPL) only supports $235 million, indicating a clear market preference for Ethereum's more mature Decentralized Finance ecosystem. Ethereum has a strong liquidity in USD and a stablecoin system, with leading protocols like Aave, Curve, and Uniswap allowing RLUSD to seamlessly integrate into the existing financial infrastructure. Currently, the USDC/RLUSD pool on Curve has approximately 74 million USD in liquidity, providing a low-slippage environment for institutional trading, arbitrage, and yield strategies. Therefore, for institutional investors with larger capital sizes, Ethereum is a more efficient and deeper choice.

BlockBeats news, on December 2, the yield on Japan's 30-year government bonds hit a record high, driven by persistently high inflation and increasing market expectations for the Bank of Japan to raise interest rates later this month. Currently up 1.5 basis points, quoted at 3.405%. Bank of Japan Governor Kazuo Ueda stated on Monday that the central bank will thoroughly discuss the possibility of raising interest rates at the upcoming meeting, which has boosted market expectations for a rate hike in the near term. The yield on 10-year government bonds remained flat at 1.875%. (Jin10)

ChainCatcher news, the on-chain yield platform Altura has completed a $4 million funding round, led by Ascension, with participation from European private equity leaders Moonfare, InnoFinCon, and others. Altura operates a single on-chain vault that employs a market-neutral strategy to generate stable returns. Users deposit stablecoins, and the vault earns protocol income through capturing inter-exchange price differences, hedging positions for funding income, and rotating collateral into safe yield assets.

Odaily News In response to Arthur Hayes' doubts about USDT operations, former Citibank encryption research head Joseph stated on the X platform that @CryptoHayes' analysis missed several key points: 1. Disclosure of assets ≠ all corporate assets. USDT adopts a "matching principle" for disclosing reserves, but its undisclosed balance sheet includes equity investment income, mining operations, corporate reserves, and potential Bitcoin holdings, with remaining profits distributed to shareholders in the form of dividends. 2. Extremely high profit margins and equity value. Tether holds $120 billion in U.S. Treasury bonds (annualized 4% yield), with a projected annual net profit of about $10 billion from 2023 (with only 150 employees), making it arguably the world's most efficient money printer; equity valuation may reach $50-100 billion.

Japan's 10-year government bond yield rose to 1.86%, reaching a new high since 2008 and triggering tremors in global markets. As the Bank of Japan hinted that it would consider raising interest rates at the December rate meeting, the long-standing era of low interest rates may come to an end, directly threatening the support for global risk assets and Yen Carry Trade in the crypto market. In the past year, Japan's government bond yields nearly doubled, with the two-year yield reaching 1% for the first time since 2008. Although 1.86% is still considered low globally, it represents a significant structural change for Japan, a country that has long been in a "zero interest rate" environment. The low interest rates had allowed global investors to borrow yen at extremely low costs, flooding into U.S. Treasuries, European bonds, and high-risk assets, including encryption. However, as domestic yields rise, funds may begin to flow back to Japan.

According to ChainCatcher news and Jin10 reports, a rate strategist at Societe Generale stated in a report that the upcoming economic data will continue to show the resilience of the US economy, persistent inflation, and a slight deterioration in the labor market conditions. Nevertheless, they expect the Fed to cut interest rates after the December meeting, with two more rate cuts expected next year, predicting that by the end of 2026, the yield on two-year Treasury bonds will stabilize and decline to 3.2%, and the yield on ten-year Treasury bonds will decline to 3.75%.

PANews December 1st news, Japan's 30-year government bond yield briefly touched 3.395%, setting a new historical high. Japan's 20-year government bond yield rose 5.5 basis points to 2.88%, reaching the highest level since June 1999.

Golden Finance reports that Japan's two-year government bond yield has risen to 1%, the highest level since June 2008. The 20-year yield has risen by 3 basis points to 2.855%, a new high since November 2020. (Jin10)

According to ChainCatcher news, WBTC has officially logged in to JustLend DAO. Users can now deposit or borrow WBTC on the platform, unlocking more efficient asset strategies and diversified yield combinations. This move not only injects liquidity of top global crypto assets into the TRON ecosystem, expands the strategic dimensions of on-chain finance, but also provides community users with richer earning opportunities and more flexible asset portfolio choices.

The crypto assets sentiment analysis platform Santiment predicts that Ethereum may rise nearly 7% in the short term, testing the 3200 USD resistance level, due to the current low stablecoin yield and no signs of market overheating.

American model Bri Tracy recently explored the role that XRP might play in the reverse yen arbitrage trading in Japan, which amounts to a staggering $4.5 trillion. Tracy pointed out that XRP has fast and programmable settlement capabilities that meet the needs of modern financial infrastructure. She emphasized that the bank for international settlements (BIS) recommends effective settlement of assets to be turned over 8 to 10 times daily to ensure liquidity, while the turnover speed of XRP far exceeds this standard. Japan's SBI Remit has already started using XRP for fast cross-border settlements. Reverse arbitrage trading refers to investors borrowing funds in low interest rate countries and investing in high-yield assets to obtain differential returns. Japan has long maintained a low interest rate, even negative interest rate environment, giving rise to a large-scale yen arbitrage trading. According to data from the Japanese Ministry of Finance, the trading scale is approximately 4.2 trillion to 4.5 trillion USD. After the Bank of Japan ended negative interest rates and raised the benchmark rate in March 2024, some arbitrage trades triggered reverse operations, with about 40% of trades closed and the remaining 60% still ongoing.

According to Gate News bot, as per the official announcement on November 28, 2025, the Gate quantitative fund has launched the "Yield Pioneer - BTC" strategy product and opened subscriptions. This product focuses on enhancing BTC ecosystem returns, employing a multi-strategy combination approach to capture market-neutral opportunities and volatility premiums. The total subscription limit for the product is 500 BTC, with individual investment limits ranging from 0.1 to 10 BTC. It has been running for 947 days, and the annualized return over the past year is 2.18%. This quantitative fund product is open to VIP5-14 level users and aims to provide high-net-worth users with Bitcoin asset allocation options. The product adopts a neutral arbitrage strategy, primarily obtaining market returns through quantitative trading methods.

Odaily News 10x Research pointed out that most investors currently still view the market as a "price game," but the underlying structural changes of Web3 are profoundly reshaping asset pricing logic. The report states that the emerging Layer1 ecosystem is for the first time presenting a quantifiable relationship between "user activity and long-term value," while deflationary mechanisms and ongoing ecological incentives are also redefining the yield structure of encryption assets. 10x Research believes that the market may be transitioning from a purely speculative cycle to a stage driven by fundamentals and network growth, proposing two potential yield paths: a 35% rise potential or a 79% rise potential, depending on how investors choose to position themselves. The team stated that this could be "one of the most undervalued structural opportunities in the current cycle."

Odaily News Decentralized Finance platform Xbank announced the official launch of its new DApp. This launch fully connects four core modules: RWA finance, decentralized trading, PayFi payment, and ecological governance, aiming to provide global users with more transparent, efficient, and trustworthy on-chain financial services. Also launched is the Xbank NFT Node Certificate, which serves as a key entry point and value carrier for the ecosystem. This NFT will be used in the future for user level identification, staking yield enhancement, Airdrop rights allocation, and community governance voting scenarios. Xbank stated that the platform will continue to promote the deep integration of real assets and on-chain liquidity, accelerating the construction of an open, secure, and sustainably growing financial ecosystem.

Stani.eth, the founder of Aave, stated that the consultation results from HM Revenue and Customs indicate that deposits made by users on Aave will not be regarded as a disposal for Capital Gains Tax purposes, which is a significant victory for UK DeFi users looking to borrow stablecoins. He emphasized support for this tax treatment and looks forward to it being reflected in the tax law soon.

According to BlockBeats news on November 27, Lista DAO officially launched its RWA product and went live on the BNB Chain. This product integrates real-world assets through Centrifuge and is supported by price feeds from Chainlink. Users can hold on-chain yield assets pegged to US Treasury bonds and AAA-rated corporate bonds by depositing USDT. Currently, it is only open to allowlist users, and the application channel has been opened simultaneously.

Golden Finance reports that InsureDAO developer PAO TECH Labs will assist the Japanese yen stablecoin JPYC in opening a lending market, building an operational treasury (yield strategy), and improving the fixed interest rate market (interest rate swaps, etc.), while providing liquidity support for the aforementioned products.

Golden Finance reports that AI-driven rise may keep the U.S. economy strong, thereby suppressing the Fed's expected interest rate cuts next year. Although the market anticipates that the Fed may cut rates as much as three times, Dustin Reid from McKinsey & Company stated that faster growth brought by AI may require tighter policies, which would lead to higher U.S. Treasury yields. He expects that by mid-2026, the yield on the 10-year U.S. Treasury will rise from the current 4% to 4.4%.

BlockBeats News, on November 26, the yield on the UK two-year government bonds fell by 7.1 basis points, reaching the lowest level since August 2024, at 3.693%. Traders are increasing their bets on the extent of the Bank of England's interest rate cuts, expecting a cumulative cut of 68 basis points by the end of 2026. (Jin10)

PANews, November 26 - Aptos ecosystem's native enhanced yield infrastructure Goblin Finance officially launched its core product GoAPT today, aiming to build a yield infrastructure for Aptos that focuses on real strategy profit sharing. Unlike traditional LSTs that only map the basic staking APR, GoAPT not only retains about 6.5% of the network's basic yield but also incorporates a strategy treasury.

Gate US launched a new Staking feature on November 26, providing users with a more convenient and secure on-chain participation method, and clearly showcasing the rewards mechanism. This move enhances its product matrix, with Compliance operations covering 42 jurisdictions in the United States, and will continue to expand asset support and optimize the yield structure in the future.

Odaily News JPMorgan has submitted a proposal to regulatory authorities for a leveraged structured note product linked to BlackRock's iShares Bitcoin Trust (IBIT) ETF. This product will allow investors to bet on the future price of Bitcoin. According to the prospectus, if the price of the IBIT ETF is equal to or higher than the preset price by December 21, 2026, JPMorgan will redeem the note early, paying at least $160 for each note (priced at $1,000). However, if the price is below the preset price at that time, the note will continue to be held until 2028. In this case (if obtained.

The total lock-up position of Ethena's synthetic stablecoin USDe has recently decreased significantly, but its usage continues to rise, showing the complexity of DeFi yield-bearing stablecoins. The current annual percentage rate of USDe is approximately 5.1%, which has dropped since the beginning of the year, reflecting changes in market conditions and leverage demand.

Gate News Bot news, on November 25, according to CoinMarketCap data, as of the time of writing, PENDLE (Pendle) is currently priced at $2.53, having risen 12.46% in the last 24 hours, reaching a high of $2.54 and a low of $2.04. The 24-hour volume is $55.2 million. The current market capitalization is approximately $417 million, an increase of $46.2 million compared to yesterday. Pendle is the world's largest cryptocurrency yield trading platform. The platform offers functions such as trading, hedging, unlocking, earning, leverage, and fixed income. Pendle includes two main products: Boros margin trading and V2 spot trading. Boros allows users to trade any yield with powerful leverage and unprecedented capital efficiency, even off-chain interest rates. V2 supports spot yield trading and earning fixed income.

Gate News Bot news, on November 25, according to CoinMarketCap data, as of the time of writing, STBL (STBL) is currently priced at 0.06 USD, with a rise of 18.36% in the last 24 hours, peaking at 0.08 USD and falling to a low of 0.05 USD. The current market capitalization is approximately 322,000 USD, an increase of nearly 50,000 USD compared to yesterday. Important news about STBL recently: 1️⃣ **STBL integrates Ondo's USDY, redefining the way stablecoin yield is generated** STBL announces the integration of Ondo's USDY stablecoin, aimed at providing a new yield generation mechanism for STBL holders. This innovative integration is expected to enhance the utility and appeal of STBL, supporting its price rise. 2️⃣ **STBL is moving towards "Stablecoin 2.0", multiple transactions

PANews, November 25 news, the Talus Foundation announced on the X platform that it will launch an LP-based Airdrop mechanism. Talus will airdrop liquidity positions that can generate yield in the form of yUS Token. yUS is a Fungible Token that encapsulates automated liquidity provision strategies for the US-USDC trading pool on the Momentum DEX through the NODO AI vault. The Talus Token Generation Event (TGE) community airdrop participants include Tally NFT holders (snapshot EDT time November 17 at 10:00), participants from the community center (top 500 ranked in seasons 1, 2, and 3, and holding the Talizen Discord role), participants of the Korea Blockchain Week (KBW) event, Talus.

Gate News Bot news, on November 25, according to CoinMarketCap's market data, RESOLV is currently priced at $0.15, with a rise of 24.75% in the last 24 hours, peaking at $0.24 and dropping to a low of $0.12. The current market capitalization is approximately $49.3 million, an increase of nearly $9.799 million compared to yesterday. Resolv is a financial layer designed for stable yields, offering transparent dollar products supported by diversified crypto income sources. Its main product, USR, is a crypto-native dollar tool aimed at providing stable returns with no directional market risk. Resolv's modular architecture allows for the allocation of funds to different markets, achieving stable and risk-controlled returns. Additionally, Resolv offers RLP leveraged yield products and curated investment vaults for different risk appetites.

The Cayman Islands court has prohibited Maple Finance from launching the yield-generating Bitcoin product syrupBTC, due to accusations from the Core Foundation of breaching an exclusive contract. Although Maple denies the allegations and claims that syrupBTC was developed independently, this case demonstrates that DeFi products need to comply with real-world legal contracts.

Odaily News The CME Group announced today that its highly liquid U.S. Treasury futures and options products reached a record high of 35,120,066 open interest (OI) on November 20. Meanwhile, the trading volume of CME's interest rate futures and options products reached 44,839,732 contracts on November 21, marking the second highest single-day trading volume in history. Agha Mirza, head of global rates and OTC products at CME, stated: "Against the backdrop of economic rise and uncertainty in the Fed's rate cut pace, market participants are turning to our markets for unmatched trading efficiency and liquidity across the yield curve." (Jin10)

According to BlockBeats news on November 24, Ondo Finance announced an investment of $25 million in Figure's yield-generating stablecoin YLDS to enhance the income sources of its flagship tokenization fund OUSG and improve diversification. OUSG currently has a TVL of over $780 million, with underlying allocations in BlackRock, Fidelity, Franklin Templeton, WisdomTree, and FundBridge.

Odaily News Brazilian listed company OranjeBTC announced that it has increased its holdings of 7.3 BTC at an average price of about 95,000 USD, bringing the total holdings to 3,720.3 BTC, with a year-to-date Bitcoin yield of 2.2%.

Odaily News According to official news, Gate will officially launch the Gate Perp DEX BTC & ETH dual coin yield challenge from 19:00 on November 24 to 19:00 on December 8 (UTC+8), with a total prize pool of 30,000 USDT. Users can participate in the event through three major zones: Perps exclusive rewards for newcomers, BTC & ETH yield challenge, and invitation fighting rewards. During the event, new users who complete BTC/USDT or ETH/USDT perpetual trading and meet the volume requirements for the first time on Gate Perp DEX can win 5 USDT. Entering the yield leaderboard, the highest reward is 3,000 USDT. Inviting friends to participate can also earn up to an additional 120 USDT.

BlockBeats news, on November 24, according to official news, the original staking service provider Kiln announced the launch of the institutional yield infrastructure Railnet. The announcement stated that Railnet is an open yield layer that standardizes the flow of capital between different yield sources. It does not participate in deposit competition but connects asset management companies, protocols, and platforms through unified channels. The protocol is collaborating with Ethena, Sentora, Chainlink, and others. In September, the staking service provider Kiln announced that after SwissBorg suffered a hacker attack resulting in a loss of approximately 41 million USD SOL, it will orderly exit all Ethereum validation nodes on September 10, 2025, which is expected to be completed in 10 to 42 days, with an additional 9 days required for withdrawal, as a preventive measure.

ChainCatcher news, the new generation BTC-Fi protocol Batoshi Foundation announces its governance token BVT will officially launch on Gate Alpha today. Batoshi Foundation is centered around the concept of "MicroStrategy On-Chain", constructing a native on-chain BTC Treasury by issuing beraBTC (1 BTC = 1 beraBTC). All BTC reserves are verifiable in real-time and can be redeemed 1:1 instantly. The protocol utilizes the "Raise → HODL → Appreciate" flywheel mechanism to unify fundraising, BTC accumulation, and on-chain yield within a single model, aiming to accumulate 10,000 BTC reserves over three years. governance token

Ethena Labs has partnered with Nunchi, which will create Perptual Futures based on the yield market, allowing users to participate in trading such as RWA Intrerest Rate. Part of the revenue will support the Ethena ecosystem, and there may be a Token Airdrop. At the same time, users can trade with USDe to receive transaction fee rebates and funding rate discounts. Users who stake nHYPE can also receive 20 times the Ethena rewards.

The key pain point area for Bitcoin prices is between $84,000 and $73,000, which determines the bottom of this cycle, mainly influenced by the cost basis of large institutional investors. The market is undergoing a comprehensive reset, and sellers are being forced to yield.

PANews November 21 news, Maple Finance responded to the recent public accusations from the CORE Foundation regarding its BTC yield program and syrupBTC product. Maple firmly denies CORE's accusations, stating that they distort the facts. Maple claims that the BTC yield program operates as an independent entity, with assets isolated from the overall business. Due to the fall in the value of CORE tokens, risk control measures have been initiated, with plans to orderly sell CORE tokens to protect the principal of lenders. Although there are hedging mechanisms in place to protect lenders, the inability to sell tokens as planned is affected by the legal actions initiated by CORE. At the same time, it emphasizes that syrupBTC is independently developed and has not used CORE's confidential information. In terms of law, Maple is actively filing a lawsuit to enforce the hedging agreement signed by CORE, and points out that CORE's allegations have not been confirmed, and the judgments cited by it originate from a

Gate News bot message, according to the Gate platform announcement on November 21, 2023. Gate has launched the USDT staking Spark protocol product. This product allows users to stake USDT through the Spark Protocol, currently offering an annualized yield of 4.4%, with a minimum staking threshold of 1 USDT. Spark Protocol is a decentralized lending market launched by MakerDAO. This protocol integrates direct lending functions within MakerDAO, providing staking yields to users based on Sky. Staking users can receive daily earnings distributed in USDT and can apply for redemption at any time.

ChainCatcher news, according to Jin10 reports, Jussi Hiljanen, chief strategist of the research department at Nordea Bank in Sweden, stated in a report that he still expects the yield on the 10-year U.S. Treasury bond to fall to 3.9% in the first quarter of 2026. He pointed out that to achieve this goal, the market must re-establish confidence in the Fed's rate-cutting path. Although recent hawkish remarks from Fed officials have increased uncertainty in the short term, he emphasized that a shift to a more accommodative policy stance, a reduction in interest rate expectations, and lower yields remain his benchmark scenario in the next three to four months.

According to Foresight News, the decentralized options platform Derive has been launched on HyperEVM. HYPE holders can now use their tokens as collateral to trade options and options contracts on Derive. When users generate profits on the Derive platform, the TVL remains in Hyperliquid. As a result, HYPE becomes a yield-bearing collateral.

PANews reported on November 21 that Mu Digital has completed a $1.5 million Pre-Seed round of financing, with investors including UOB Venture Management, Signum Capital, CMS Holdings, Cointelegraph Accelerator, and Echo. Mu Digital focuses on bringing real assets from the $20 trillion credit market in Asia on-chain and plans to launch the Monad Mainnet on November 24. The products include Asia, which features a return of 6-7%.

PANews reported on November 20 that Plume, a modular Layer 2 blockchain centered around Real World Assets (RWA), announced on Wednesday that tokenization giant Securitize will expand its coverage in the global real world asset space by launching institutional-grade assets through Plume's Nest staking protocol. The asset launch plan will begin with related assets from Hamilton Lane and continue until 2026, aiming for a target capital scale of $100 million. As part of the deal, Bitcoin financial platform Solv plans to invest up to $10 million in Plume's RWA treasury, broadening Bitcoin-based yield products through regulated RWA exposure.

According to ChainCatcher news, Jin10 reported that Infrastructure Capital analyst Jay Hatfield stated that the Fed is not expected to cut interest rates in December unless employment data is very weak. He noted that the team still expects the Fed to remain on hold in December and is confident about the gradual decline in inflation. He anticipates four rate cuts next year after the new Fed chair takes office, with the ten-year Treasury yield expected to remain around 4%, which is Favourable Information for the stock market.