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"New Bond King" Gundlach: Equity allocation is about 30%, and only in the equal-weighted S&P 500.October 29th - According to CMEs "FedWatch": The probability of the Federal Reserve maintaining interest rates at 3.75%-4.00% at its December meeting is 16.9% (14.2% before the decision), the probability of a 25 basis point rate hike is 82.6% (79.7% before the decision), and the probability of a 50 basis point rate hike is 0.5% (6.1% before the decision). The probability of the Fed maintaining interest rates unchanged until January next year is 10.3% (8.3% before the decision), the probability of a cumulative 25 basis point rate hike is 57.0% (52.6% before the decision), the probability of a cumulative 50 basis point rate hike is 32.5% (36.5% before the decision), and the probability of a cumulative 75 basis point rate hike is 0.2% (2.5% before the decision).On October 29th, Federal Reserve Chairman Warsh reiterated at a press conference that he does not approve of the Fed using what is commonly known as "forward guidance" to signal the future path of interest rates and monetary policy to the market. He stated, "Unless there is an emergency or crisis, I do not endorse forward guidance." He added, "I must add this condition because during the darkest period of the 2008 financial crisis, this forward guidance actually played a significant role, partly drawing on the research and insights of a scholar who had just won the Nobel Prize. But in normal, ordinary times, especially with the current strong economic fundamentals, I do not endorse this approach and do not support the use of forward guidance."On October 29th, Federal Reserve Chairman Warsh announced his intention to attend a hearing hosted by the Feds Productivity and Employment Working Group on November 16th in the San Francisco Bay Area to hear perspectives from various sectors on technology, productivity, and their impact on monetary policy. At a press conference, he stated that the meeting will explore the short-, medium-, and long-term economic impacts of AI-driven productivity gains. Warsh said, "Will this lead to a productivity miracle, or will the process be slow? I very much want to further refine my understanding of this issue." He added, "Will this make it more difficult or easier to achieve price stability in the coming years? What will this mean for employment, not only in the medium and long term but also in the short term? Therefore, we will primarily discuss these issues publicly on November 16th."On October 29, Fitch Ratings Chief Economist Brian Kulton said that data released in the coming weeks will likely provide all the signals the Federal Reserve needs to raise interest rates in December: “Strong growth in unit profits, high energy prices, and the broadening of the inflation spectrum over the past year all point to upside risks to the U.S. inflation outlook—although recent core CPI inflation data has been fairly stable.”

U.S Government Agencies Warn of More North Korean Cyber Attacks

Skylar Shaw

Apr 20, 2022 09:47

  • The US government issued a warning this week about new North Korean cyberattacks aimed against cryptocurrency.

  • The discovery comes after the Lazarus Group, a North Korean cybercriminal gang, was implicated in the Ronin breach.

  • Following a prosperous 2021, North Korea and Russia are increasing their cyberattacks.


The fact that the Lazarus Group was behind this year's Ronin assault has sent up warning bells. The Lazarus Group, a North Korean cybercriminal group linked to the state government, was behind the Axie Infinity breach in April.


The Ronin Hack, which took place in April, was the biggest ever, with hackers making off with $625 million, comprising 173.6 thousand ETH and 25.5 million USDC.

U.S Government Sounds the Alarm Bells of More Cyber Attacks

More North Korean cyberattacks are a danger, according to US government agencies this week.


The FBI and the US Treasury Department issued a joint notice with the Cybersecurity and Infrastructure Security Agency (CISA) on Monday.


"North Korean actors have been observed targeting a variety of organizations in the blockchain technology and cryptocurrency industry, including cryptocurrency exchanges, decentralized finance (DeFi) protocols, play-to-earn cryptocurrency video games, cryptocurrency trading companies, venture capital funds investing in cryptocurrency, and individual holders of large amounts of cryptocurrency or valuable non-fungible tokens (NFTs)," according to the Monday alert.

The alert continued, "


"The behavior detailed in this alert include social engineering of victims using a number of communication channels in order to persuade them to download trojanized cryptocurrency programs for Windows or macOS."


In response to an increase in cybercriminal behavior, the FBI established a new Virtual Assets Unit in March.


Since then, the squad has been active, assisting in the investigation of North Korea's Lazarus Group's involvement in the Ronin hack.


The Ronin breach, which occurred in April, was only one of several carried out by North Korean hackers.

North Korean Cybercriminal Activity Funds Missiles and More

North Korea used stolen cryptocurrency to finance its ICBM development in February.


According to data from Chainalysis, North Korea accumulated more than $400 million in digital assets last year via cybercriminal activities. Investment businesses and centralized exchanges were the primary targets of cybercriminals.


The Lazarus Group and other North Korean hackers will have an incentive to ratchet up assaults for larger hauls before vulnerable platforms implement tougher security safeguards as a result of the Ronin breach in April.


On Sunday, Russian hackers launched an unsuccessful distributed denial of service (DDoS) attempt on Currency.com. In the digital asset market, Russian cybercriminals are also among the most aggressive.

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