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BitGo announces a $50 million share buyback, as BitGo’s stock price has dropped 65% from its IPO price.

Mitsubishi UFJ Financial Group's Head of US Macro Strategy, George Goncalves, stated that as new Federal Reserve Chair Kevin Walsh hosts his first monetary policy meeting, the drop in oil prices will create favorable conditions for a rise in the fixed income market. “We are about to enter a summer for the bond market,” Goncalves said Wednesday on Bloomberg TV’s Surveillance. “Overall, there is not really an inflation problem right now.” Goncalves noted that as crude oil prices have fallen over the past week, investors are reassessing the global interest rate outlook. The market expects that the US and Iran are about to sign an agreement, and the reopening of the Strait of Hormuz will bring an end to the previous supply crisis. He said that even with approximately 1 billion barrels of crude oil unable to enter the market due to the closure of the Strait of Hormuz, oil prices have still “managed to remain within a controllable range.”

Shanghai fuel oil futures have just broken through the 3,200 yuan/tonne mark, now quoted at 3,206 yuan/tonne, up 0.25% on the day; China's INE crude oil futures main contract has just broken through the 520.0 yuan/barrel mark, now quoted at 520.1 yuan/barrel, up 2.26% on the day; U.S. RBOB gasoline futures main contract has just broken through $2.8900/gallon, now quoted at $2.8906/gallon, up 2.75% on the day; U.S. RBOB gasoline futures main contract has just broken through $2.8800/gallon, now quoted at $2.8854/gallon, up 2.57% on the day; Nymex U.S. crude oil futures main contract has just broken through $79.00/barrel, now quoted at $79.09/barrel, up 5.08% on the day.