[5 books this morning] Selected news to read before starting work

The exchange rate of yen in the New York foreign exchange market fell to the 80 yen range of 1 dollar = 160 yen against the dollar at one point.Low since 1986It sank intoKanda TreasurerThey said “recent exchange rate movements are one-sided,” and they showed an attitude of not resigning from exchange intervention by “taking necessary measures against movements that have gone too far,” but yen sales were unstoppable even after the statement was made. There is a growing sense of caution against the resumption of yen buying intervention by the currency authorities. The yen fell to 171 yen 76 yen at one point against the euro. It hit a new low since the euro was established in January 1999.

Amazons・The total market value of dot com broke through the 2 trillion dollar (about 320 trillion yen) mark for the first time. The cloud business is re-accelerating in response to the tailwind of the artificial intelligence (AI) boom, and growth trends are improving. In terms of the total market capitalization of major high-tech companies, Alphabet surpassed 2 trillion dollars in April. NVIDIA, Microsoft, and Apple are all over 3 trillion dollars.

The European Central Bank (ECB) is nextReview of monetary policy strategieswill start soon. A person familiar with the situation made it clear. The results could be the foundation for future interest rate trends and crisis response. It is said that the policy committee wants to draw conclusions in the latter half of 2025. Stakeholders said that the current review is probably shorter than the first review in almost 20 years that ended in '21, and the scope is also expected to be limited. However, there is a possibility that discussions on future inflationary factors and lessons learned from recent crises will be included, and it is said that it could have important implications.

Over the past 6 years, Tesla has surpassed the total number of competitors in electric vehicle (EV) sales in the US. But come hereOne person winsI'm about to lose my right to brag about it. The total number of EVs sold in the US in the year up to May was about 618,000 units, while the total number of EVs sold by other manufacturers was about 597,000 units. Conventional automobile manufacturers, which were initially conspicuous for delays, are also steadily narrowing the difference with Tesla, and there is a risk that Tesla will lose its sole position by the time the number of units sold this month is aggregated.

In the hedge fund industry where a fierce battle for human resources unfolds, English Eisler Capital, which manages about 4 billion dollars (about 640 billion yen), has come up with a strategy to take advantage of traders' weaknesses. The condition is that if you quit, you return the bonus. This is it”Clawback” arrangements are not uncommon in hedge funds. However, Eisler's case is the latest example showing that multi-strategy funds are under pressure to devise strategies to acquire and maintain human resources.