Securities Industry and Financial Markets Association

Also, after we've recorded last week's This Week in A- One of the commissioners from the SEC, Hester Peirce, who's been in role for, I believe, nine years, or certainly since the first Trump administration, she's leaving.

She's stepping down and gave a speech before SIFMA's Digital Assets Conference, and it was interesting on a number of levels, particularly because of our focus on AML-related topics, but I think you should take a look at the, the speech.

She's been a very strong supporter of crypto.

That was pretty clear from her time in role here.

And as long as that's the case, you're gonna be specialist.

Like, I was, um, I was at this, uh, event, like, you know, this is called SIFMA event, industry event yesterday, and then I, I've been looking at like all those like high-profile names of the, uh, you know, legal or compliance or trading or...

They all have so- such different life and profiles, and I was just looking LinkedIn for every one of them.

[laughs] And they, they all have so, so many different backgrounds, and somehow they ended up to be there.

And as always, we

have SIFMA to thank for that.

In the week ahead, the treasury market will have the fundamentals of the employment report as well as core PCE from August from which to derive trading direction.

Of all of the events in the week ahead, we are most heavily weighting the September unemployment rate.

Nine trade groups also backed the proposal in a joint statement.

Among the signatories were the Alternative Investment Management Association, the Investment Advisor Association, the Investment Company Institute, the Managed Funds Association, and SIFMA.

Senator Elizabeth Warren did oppose the proposal, warning it would let officials reward campaign donors with lucrative contracts.

Comments are due regarding the proposed rescission 60 days after publication in the Federal Register.

You know, there's been substantial opposition from small public companies and really people throughout the emerging community.

And there's also been sophisticated market participants who are actually supporting the rule, including Citadel and SIFMA and others like the Securities Traders Association, I think.

And I also think Better Markets submitted a proposal in favor of the rule.

And I'm not going to tell you why any one particular group is right or wrong or any one organization is better.

You know, our market in crypto, about $3 trillion market cap or something.

I was just looking at some SIFMA stats.

Equity market, I think, is around $160 trillion.

Fixed income market is $160 trillion.

Now, history doesn't always repeat itself, but maybe it'll rhyme.

And, and Heidi, you know, looking at, uh, at, at what to watch for, uh, from a market data perspective, maybe tell us what, about what you covered in the latest edition of the SIFMA Insights, uh, Market Metrics and Trends report.

Sure.

Um, this month we actually looked at corporate issuance.

Mona and Heidi, I wanna thank you all, uh, very much for being with us today and for your thoughtful insights and discussion.

And I wanna thank all of our listeners for joining us.

Uh, to learn more about SIFMA and our work to promote effective and resilient markets, please visit sifma.org, and we'll look forward to seeing everyone, uh, in October for our next Market, uh, Snapshot.

Thank you.