1. Spot Bitcoin ETF Approved for Listing: On January 10, 2024, after a decade of confrontation, the U.S. Securities and Exchange Commission (SEC) approved the first exchange-traded fund (ETF) that directly invests in Bitcoin, marking a milestone event for the digital asset industry and broadening investment channels for Bitcoin on Wall Street and beyond.
2. Sora Emerges: On February 16, 2024, OpenAI released a demo video of its AI-generated video model Sora, which generated a 1-minute long multi-shot video, breaking the existing coherence limitations of around 10 seconds in previous text-to-video models, and demonstrating capabilities such as finer image quality and consistency during multi-angle, multi-shot transitions.
3. BOJ Rate Hike Triggers Arbitrage Trading Collapse: On March 19, 2024, the Bank of Japan raised its policy rate from -0.1% to a range of 0 to 0.1%, officially ending the eight-year negative interest rate era that began in 2016, and decided to terminate its yield curve control policy. This was the first rate hike by the BOJ since February 2007, a gap of 17 years. As a result, the yen fell instead of rising, breaching the closely watched 150 level.
4. Saudi-China ETF Connectivity: On June 14, 2024, the first batch of ETFs investing in the Saudi Arabian market—Huatai-PB South China's Saudi Arabia ETF (QDII) and South China Fund's Saudi Arabia ETF (QDII)—was officially approved, signifying the first step for public offering products in China to directly invest in the Saudi market.
5. Federal Reserve Enters Rate Cut Cycle: On September 19, 2024, the Federal Reserve cut the federal funds rate by 50 basis points, marking its first rate cut in four years and signaling the start of a new round of monetary easing in the U.S. This was followed by additional rate cuts of 25 basis points in November and December, totaling a cumulative easing of 100 basis points this year. According to the latest dot plot from Fed officials, a further rate cut of 50 basis points is expected next year, halving previous expectations.
6. China's Financial Policy "Combination Punch": On September 24, 2024, the State Council Information Office held a press conference regarding financial support for high-quality economic development, with leaders from the central bank, the Financial Regulatory Administration, and the Securities Regulatory Commission in attendance. It announced a "package" of supportive financial policies, including reserve requirement cuts, interest rate reductions, adjustments to existing mortgage rates, and a unified mortgage down payment ratio. This policy package exceeded market expectations, drawing widespread attention and initiating a notable upward trend in the A-share market.
7. BRICS Summit Held After Expansion: From October 22 to 24, 2024, the sixteenth meeting of BRICS leaders was held in Kazan, Russia, marking the first summit of the expanded BRICS group with 10 member countries. New members include Saudi Arabia, Egypt, the UAE, Iran, and Ethiopia, whose inclusion significantly enhances the global influence of BRICS. The GDP of the expanded BRICS now accounts for about 30% of the world, with its population representing half of the global total and trade volume accounting for one-fifth of global trade, along with a significant share of global resources.
8. Gold Sees Explosive Market Movement: In October 2024, spot gold reached a historic high of $2790.02 per ounce, with an annual gain exceeding 35%, potentially marking the best yearly performance since 2010. According to the World Gold Council, gold prices have hit new highs over 30 times this year. As of the third quarter, global gold demand surpassed $100 billion for the first time, primarily due to geopolitical tensions, major central banks' monetary policy easing, and strong purchasing power from various countries' central banks.
9. Trump Makes a Comeback: On November 6, 2024, former President Donald Trump announced his victory as the Republican presidential candidate, becoming the first U.S. president since 1892 to serve non-consecutive terms. Trump garnered a total of 312 electoral votes (Democratic candidate Harris received only 226 votes), sweeping seven so-called "battleground states."
10. U.S. National Debt Exceeds $36 Trillion: The latest data released by the U.S. Treasury shows that as of November 2024, the total U.S. national debt has surpassed $36 trillion for the first time, setting a new historical record. Since surpassing $33 trillion in September 2023, the growth rate of U.S. national debt has accelerated sharply, crossing the $34 trillion and $35 trillion thresholds earlier in 2024, and rising to over $36 trillion by the end of November. Compared to just $907 billion 40 years ago, the size of U.S. national debt has increased over 38 times.