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Genius Moves in Payments
On 17 June, the US Senate passed the GENIUS Act, setting a national framework for stablecoins. Visa and Mastercard shares fell about 5% that day. Just two weeks later, on 30 June, US banks announced dividend hikes and share buybacks after clearing the Fed's stress test. Bank stocks rose - and since then, JPMorgan has been powering to record high after record high.
Speaker's Profile Paul De Vierno is the strategist of UOB Kay Hian's Wealth Management team. He has 40 years' investment experience in the capital markets and commodities. Paul held positions in the UK, Geneva, Singapore and the US for the world's largest commodities trading firm. Prior to joining UOB Kay Hian, Paul had managed the Asian office for a US$7 billion private equity fund. Jonathan Koh is a Director, Research with UOB Kay Hian. He currently covers Banks and Real Estate Investment Trusts (REITs) for the Singapore market. He previously covered Healthcare, Technology and Telecommunications sectors. Jonathan has 30 years of experience in equity research and fund management. He is also a qualified Computer Engineer and a Chartered Financial Analyst.
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