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[Quick Facts]

1. Two Fed hawks give dovish remarks.

2. U.S. home price index hits a record high after rising for 8 months.

3. Famous investor Charlie Munger dies at 99.

4. Binance US: Zhao (CZ) resigns as Chairman of the Board of Directors.

5. BOJ's paper loss on bond holdings grows to a 20-year high of $71bn.

[News Details]

Two Fed hawks give dovish remarks

Fed governor Waller, one of the Fed's most hawkish officials, seemed to be paving the way for rate cuts at an event at the American Enterprise Institute (AEI) on Tuesday. He said that he was "increasingly confident" that the Fed's current interest rates would prove sufficient to drive inflation down to the 2% target and that if inflation continues to fall, a rate cut would possibly come a few months later. Fed Governor Bowman, who has been hawkish, said she supports further rate hikes if needed, but she added some conditions compared to previous remarks, saying she supports taking action if inflation progress stalls or cannot fall to target in time. The two big hawks who promoted substantial interest rate hikes to curb inflation last year have hinted that they are now happy to see interest rates remain unchanged, which reinforces expectations that the Fed's current interest rate hike cycle has come to an end.

In addition, the "big dove" Chicago Fed President Goolsbee also said that interest rates staying high for too long is a matter of concern.

U.S. home price index hits a record high after rising for 8 months

U.S. home prices continue to climb to an all-time high. A national gauge of home prices rose 0.7% in September from August, according to seasonally adjusted data from S&P CoreLogic Case-Shiller. It was the eighth straight month of gains for the index. Mortgage rates above 7% have chilled the housing market, keeping both would-be buyers and sellers on the sidelines.

Famous investor Charlie Munger dies at 99

Berkshire Hathaway a few minutes ago was advised by members of Charlie Munger's family that he peacefully died at 99 this morning at a California hospital, Berkshire Hathaway posted a statement on the website of its subsidiary Business Wire on Tuesday, November 28, local time. Charlie Munger was a legendary investor who teamed up with Warren Buffett over the past 46 years to create one of the finest investment records of all time -- the book value of Berkshire's stock created an investment myth with a compounded annualized return of 20.3%, and the price per share rose from $19 to $84,487. Warren Buffett eulogized his old partner saying, "Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation."

Binance US: Zhao (CZ) resigns as Chairman of the Board of Directors

Cryptocurrency exchange Binance US announced on Nov. 28 that it is not implicated in the settlement announced last week as it operates separately from Binance, and it holds no outstanding enforcement matters with U.S. regulatory bodies such as the U.S. Department of Justice, Financial Crimes Enforcement Network, Office of Foreign Assets Control, or the Commodity Futures Trading Commission. The firm maintains full operations. Binance founder Changpeng Zhao has decided to resign as chairman of the Board of Directors of Binance US and transfer his voting rights through a proxy arrangement.

BOJ's paper loss on bond holdings grows to a 20-year high of $71bn

The Bank of Japan's (BOJ) semi-annual financial report released on Tuesday showed that its bond holdings have suffered the highest floating losses on record in the last six months, demonstrating the challenges faced by the BOJ governor Kazuo Ueda as he moves toward policy normalization. At the end of September, the paper loss on those assets was 10.5 trillion yen ($70.7 billion), the biggest since fiscal 2004. That's over six times higher than the 157 billion yen loss in the previous fiscal year.

[Focus of the Day]

UTC+8 17:00 Switzerland ZEW Investor Confidence Index (Nov)

UTC+8 18:00 Eurozone Industrial Climate Index & Economic Confidence Index (Nov)

UTC+8 21:00 Germany CPI Prelim MoM (Nov)

UTC+8 23:05 BOE Gov Bailey Speaks

UTC+8 23:30 U.S. EIA Weekly Crude Stocks

UTC+8 02:45 Next Day: FOMC Member Mester Speaks

UTC+8 03:00 Next Day: Fed's Beige Book