Former US Depot Bases Angry at Musk: Reasons Explained [3-Minute Brief]

[At a Glance]
① Warning from Five Former US Treasury Secretaries
② Korea Customs Service Releases Export-Import Status for February 1-10
③ KDI Publishes February Economic Trends Issue

MARKET INDEX

○ Powell: "No reason to rush additional interest rate cuts"

○ US remains relatively calm despite steel tariff hike next month

○ CPI on the 12th in focus... Retail sales announced on the 14th

TOP 3 NEWS

■ Warning from 5 former US Treasury Secretaries: "Musk is undermining the Treasury"

○ Rubin, Summers, Geithner, Lew, Yellen contribute to NYT
○ "The core of the rule of law is respecting Congress's budget authority"
○ "Congressional budget impasse ultimately leads to default"

■ Slight increase in exports until the 10th of this month: "February exports expected to be positive with trade surplus"

○ Korea Customs Service reports export-import status from Feb 1 to 10
○ Export value $14.9 billion, up 0.8% YoY
○ Expected to improve towards the end of the month

■ KDI: "External conditions worsen, increasing downside risks to the economy"

○ KDI releases Economic Trends February issue
○ Continues concerns about the economy from last month
○ Export worries compounded by sluggish domestic demand

Graphic News: Regional banks see 47% increase in non-performing loans despite record-high earnings

○ Loan loss provisions are low while loss absorption capacity decreases

○ "Impact of regional economic downturn and real estate project financing (PF)"

○ BNK and JB Financial achieve record earnings, but non-performing loan balances rise 47% YoY

the Chart : 26 trillion KRW evaporated in 3 months... Deposits flee banks as interest rates plunge

○ Deposit withdrawals accelerate amid falling interest rates

○ Investment funds move to stocks, virtual assets, and gold

○ Money movement expected to continue with additional rate cut forecasts

Today's Key Schedule

○ Domestic

KOSDAQ ISTE listing at 11,400 KRW

KOSDAQ MotiveLink subscription, fixed public offering price 6,000 KRW

○ Overseas

00:00 US Federal Reserve (FED) Chair Powell testimony

02:00 Europe European Central Bank (ECB) Schnabel speech

06:30 US Petroleum Association weekly crude oil inventory

21:00 US Organization of the Petroleum Exporting Countries (OPEC) monthly report

22:30 US Consumer Price Index (YoY) (January)

◇ Lunch & Commute Weather

○ Low temperature 0℃(▲5℃) ｜ High temperature: 4℃(▼2℃)
○ Precipitation probability 80% in the morning｜60% in the afternoon
○ Fine dust Moderate in the morning｜Good in the afternoon

OK in 3 minutes, essential time-efficient economic news. Published daily at 8 AM.