Ann: Quarterly Activities Report and Appendix 5B, page-276

While we are waiting for further news, at least the macro situation is improving rapidly;

"For the next 90 days, US tariffs on Chinese goods will come down to 30% (from 145%), while China tariffs will come down to 10% (from 125%)"

US markets were up heavily last night. S&P500 was up 3.2%. While that alone probably won't drive MNB's sp up meaningfully, the rapidly improving tariff situation will allow the sp to move much harder and faster on positive funding news than what it could have done if markets were stuck in a bear market.