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20:20
On Wednesday (July 1), the Bloomberg Electric Vehicle Price Return Index rose by 0.21% to 3,562.45 points.
In the Asia-Pacific morning session, the index experienced a V-shaped reversal between 08:00–12:00 (UTC+8). At 10:14 (UTC+8), it hit a daily low of 3,517.16 points, and remained mostly in an upward trend for the rest of the period.
20:18
Divergence Among Wall Street Giants Triggers a Frenzy in U.S. Funding Rate Futures Trading
Specifically, there has been a significant surge in both open interest (the total number of outstanding positions held by traders) and trading volume for the July futures contracts (launched by CME) linked to the Secured Overnight Financing Rate (SOFR) and the Effective Federal Funds Rate. The spread between these two types of contracts (known as the "basis") hit a record high trading volume of 112,590 contracts on Monday, with open interest also increasing. The capital flow included a sell-off of 60,000 contracts, while there was clear buying activity on Wednesday. As most of these trades are conducted anonymously, it is difficult for outsiders to identify which specific institutions are involved or the true beneficiaries behind these bets.
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