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Glonghui March 31st｜Wells Fargo lowered the target price of Carnival Cruise Lines from $40 to $37, maintaining an "Overweight" rating.

PANews reported on March 31 that, according to Cointelegraph, the Dubai Virtual Assets Regulatory Authority has issued an official regulatory framework for crypto exchange-traded derivatives, allowing retail clients to participate in trading after passing a suitability assessment. The new regulations cover requirements for client suitability, leverage and margin controls, asset segregation, disclosure standards, and regulatory intervention powers. The leverage cap for retail investors is set at 5x, and exchanges must restrict access to products that are not suitable for specific client groups. VARA stated that regulators have the authority to intervene during periods of market stress or trading disorder, including suspending products, requiring position closures, increasing margin requirements, and, in urgent situations, demanding immediate action without prior notice.

```htmlJinse Finance reported that on March 31, as Middle East conflicts triggered a surge in oil prices and fueled inflation concerns, the global interest rate market has recently undergone a dramatic "hawkish repricing"—shifting from betting on multiple Federal Reserve rate cuts at the beginning of the year to pricing in a rate hike by year-end. Goldman Sachs is questioning one of the most significant market repricings this year, stating that investors overestimate the likelihood of the Federal Reserve raising rates in response to the current surge in oil prices. Goldman Sachs strategist Dominic Wilson outlined the bank's view in a research report: the market is overreacting to the oil shock, betting that the Federal Reserve will introduce tightening measures, but historical experience suggests this scenario is unlikely to occur. The historical reference from 1990 is central to Goldman Sachs’ judgment. That year, when faced with an oil supply shock, bond yields soared and investors bet the Federal Reserve would tighten policy. However, the Federal Reserve did the opposite, opting to cut rates as the economic situation deteriorated. Goldman Sachs’ core logic is that inflation driven by oil prices is a supply-side shock, not demand-side overheating. Historically, the Federal Reserve typically ignores supply-side inflationary pressures and does not tighten monetary policy on these grounds. This tendency becomes even more pronounced when economic growth is already slowing. (East News Agency)```