BofA, Citi, Goldman Sachs among 21 institutions planning stablecoin launch
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Goldman Sachs, BofA Among 21 Banks Planning Joint Dollar Stablecoin Launch
The bank-led consortium wants a U.S. dollar token live by the first half of 2027, with a euro version queued up next.
Goldman Sachs raises target prices for Bank of America and Citigroup.
According to Odaily Odaily, Goldman Sachs raised its price target for Bank of America from $65 to $71 and its price target for Citigroup from $149 to $162.
SpaceX IPO quiet period ends, Wall Street institutions scramble to upgrade ratings
According to Odaily Odaily, with the end of the 25-day quiet period following SpaceX's (SPCX) June IPO, Wall Street analysts have begun releasing formal research reports, with several major brokerages giving it a positive rating, indicating that institutional investors remain optimistic about the company's long-term growth potential. As underwriters for the IPO, Goldman Sachs and Morgan Stanley both gave SpaceX a buy-equivalent rating. Goldman Sachs analyst Eric Sheridan set a target price of $205, while Morgan Stanley analyst Adam Jonas gave a target price of $300. In addition, Bank of America, Citigroup, Deutsche Bank, JPMorgan Chase, UBS, and other institutions also initiated coverage, giving buy or equivalent ratings. Raymond James Financial gave the most optimistic forecast, with analyst Brian Gesuale initiating coverage of SpaceX with a "Strong Buy" rating and a target price as high as $800, believing that SpaceX will become "one of the most representative industrial infrastructure companies of the 21st century." Analysts believe that the market's optimism about SpaceX is mainly based on its strategic layout in areas such as rocket launches, Starlink satellite internet, and government contracts. At the same time, the company's communications business can provide a continuous source of revenue and support future expansion of launch scale. As of March 31, 2026, SpaceX held 18,712 bitcoins. Wall Street believes that the concentrated coverage following the IPO quiet period provided a window for institutional investors to systematically assess SpaceX's valuation for the first time, and the fact that almost all major institutions simultaneously gave positive ratings is rare for large IPOs. (CoinDesk)
Goldman Sachs has significantly lowered its yen forecast, predicting it could fall to 165 within a year.
According to Odaily Odaily, Goldman Sachs predicts that the yen will fall to 165 against the US dollar within a year due to the interest rate differential between the US and Japan, a further downward revision from its previous forecast of 155, making it one of the most bearish institutions on the yen. Strategist Fishman points out that the pressure on the yen to depreciate stems from Japan's fiscal pressure, high US Treasury yields, and the Bank of Japan's slow interest rate hikes, despite the yen being severely undervalued. Positioning supports further yen weakness. Data shows that hedge funds' bearish bets on the yen hit a new high since 2017 last month, with the market believing there is a 72% probability that the USD/JPY exchange rate will rise to 165 by June next year. Goldman Sachs also favors carry trades using the yen as a funding currency, i.e., borrowing yen to invest in high-yield assets. The bank predicts the USD/JPY exchange rate will be 162 in three months and 163 in six months (previously 160 and 158 respectively), and believes that official intervention will have a short-lived effect, and the root causes of the yen's weakness remain. (Jinshi)
Goldman Sachs released a report on China's AI computing power, predicting that domestically produced chips will account for over 50% of the market share by 2026.
According to a Goldman Sachs report, "China AI Computing Power," published by P Equity Research, China is accelerating the construction of its nationwide computing network. Related infrastructure projects are expected to attract 7 trillion yuan in investment by 2026, with data center investment reaching approximately 2 trillion yuan over the next five years. Currently, capital and technology are shifting massively to computing hubs in western China, while data centers in first-tier cities are transforming to focus on ultra-low latency computing, edge nodes, and AI inference. Although gigawatt (GW) clusters containing more than 100,000 chips are still scarce in China, in typical GW-level computing parks, workloads already consist primarily of inference (accounting for over half), along with training and full-stack R&D. The report predicts that by 2026, the market share of domestically produced AI accelerator chips is expected to exceed 50%. Huawei and Alibaba's Pingtouge lead the domestic camp with 20% and 7% market share respectively, but Nvidia currently maintains its overall market dominance with a 55% share. In terms of cost and performance, domestically produced chips have 40% to 50% lower capital expenditure per unit of IT power consumption compared to imported chips. However, due to the performance gap, their capital expenditure per unit of computing power is 2 to 4 times that of imported chips, and the computing power generated per unit of power consumption is only 10% to 30% of that of imported chips. In addition, the daily token output of Huawei's 910B/910C servers is about one-sixth to one-third of that of NVIDIA's H800, resulting in API profit margins based on this hardware lagging significantly behind those of competitors using NVIDIA hardware.
Fluid launches Fluid Lite USD, a stablecoin Vault product with fixed yields.
According to Foresight News , Fluid has launched Fluid Lite USD, a stablecoin fixed-yield Vault product, claiming a minimum annual yield of 6%, with historical data typically showing yields between 8% and 10%. Fluid Lite USD is already listed on Ethereum and supports cross-chain yield strategies, covering Arbitrum, Plasma, and Ethereum. Users can deposit USDC, and the Vault will generate yields through sUSDe, syrupUSDC, syrupUSDT, and sUSDai.