Thesis. While the market watches tokens, the largest financial data upgrade in history is concluding: after the end of the MT/MX coexistence period (November 22, 2025 — 97% of cross-border payments now in ISO 20022), 2027 mandates structured/hybrid addresses on SWIFT CBPR+ (SEPA on the 15th), with 65% of messages still non-compliant and 44% of…
Gold was indeed a high-Sharpe asset during certain windows from 2025 to early 2026, and long-term bonds did under perform. However, as of September 7, 2026, gold does not "beat tech stocks" over 12 months. NVDA and the S&P have higher TTM returns than those shown in the table.
The illustrative recalibration (TTM window,…
Digital finance is shifting gears. For ten years, the value of a digital asset rested on a promise of appreciation. Since 2024, a new paradigm has taken hold: the value of a tokenized asset is read in its cash flows, rent, interest, coupons—generated by the underlying asset and automatically distributed by smart contracts. RWAs are…
Oil prices surged sharply after the US announced new strikes on southern Iran. Brent crude exceeded $92 per barrel, while WTI approached $90. Yields on 30-year Japanese government bonds (JGBs) surpassed 4.18%, and Nvidia exited the corporate bond market. How does this affect gold? Several explosions were reported near Bandar Abbas, Qeshm, and the Strait…
The Financial Times reports a marked shift among wealthy investors toward direct ownership of physical gold and secure, individually allocated storage. In 2026, purchases by this group have surged to record levels, signaling a retreat from electronic exposure in favor of tangible assets.
Industry observers highlight capacity constraints across premier vault facilities. London dealer Sharps…
According to Société Générale, the time has come to view gold optimistically again, as they observe a gradual recovery after months of correction. In a recent market assessment, analysts stated the precious metal looks attractive again, despite trimming their gold positions in the first half of the year. Gold recently rebounded to around $2,450 after…
bitcoin is currently in a drawdown phase of about −35% from an October 2025 all-time high near $125k. The spot price is around $81k.
The August rebound of +25% was driven by Treasury buybacks, a short squeeze, and ETF creations, not a halving cycle.
On-chain indicators show a market that is neither aggressively distributing nor…
Les trois banques russes Gazprombank, Alef Bank et Interprombank (Алеф-Банк, АКБ «ИНТЕРПРОМБАНК» и Газпромбанк) n’ont pas "volé" le milliard moldave, mais elles ont facilité techniquement le mécanisme de fraude en fournissant des dépôts overnight (dépôts à vue d’un jour, sans intérêt) aux trois banques moldaves impliquées (Banca de Economii, Unibank, Banca Socială), ce qui a…
Blockchains, consolidation toward regulated infrastructure. The event of 2026 is not a new L1 but the migration of value toward layers serving regulated assets: on-chain registered transfer agents (Securitize, first registered digital agent on the NYSE tokenized securities platform¹⁴), neutral token standards (ERC-7943⁸), banking rails (BNY Mellon custodizing stablecoin reserves and tokenized treasuries¹⁴), and central…
The defining shift in digital assets this decade is not a price level. It is a change in structure: from instruments whose value rests on uncertain future appreciation to instruments whose value is delivered through continuous, automated cash flows, rent, interest, coupons, distributed by code. The RWA market has quietly completed this migration in 2026,…
Analyse de marché
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