Akshay’s discussion of rates, growth, and earnings offers a broader perspective for understanding the markets available through XT TradFi.

For eligible users, XT TradFi offers USDT-settled futures across forex, precious metals, stocks and indices, and commodities. Looking across those markets calls for an understanding of the forces that connect them. In XT’s English-language AMA, Akshay, XT Global Business Development Director, explored those connections through Japanese funding conditions, U.S. growth, and the outlook for corporate earnings.

Interest rates influence financing, growth helps reveal the strength of demand, and earnings show whether companies are turning investment into profits. Which signal deserves the most attention also depends on the time horizon.

Earnings set the test for the months ahead

When an audience question turned to the coming months, Akshay put company earnings first, especially the durability of AI-related profits.

“If I had to pick one thing that will matter most for stock and risk assets over the next few months, it’s company earnings, especially whether the big AI profit boom can keep going.”

Akshay, XT Global Business Development Director

He argued that strong earnings could help stocks withstand somewhat higher rates. If AI spending slowed, however, the pressure from those rates would become more important. His focus was on whether profits could continue to support the market as financing conditions remained demanding.

For readers following stock and index markets through XT TradFi, that is a useful analytical question: how does the earnings outlook interact with the cost of capital? It connects a company’s results to the wider economic environment rather than treating each earnings release in isolation.

Growth matters before the earnings picture is settled

Earlier in the session, when asked which force mattered most at that point, Akshay had chosen growth. He described two possible explanations for an apparent gap between economic growth and hiring. AI and automation might be improving productivity, or temporary factors might be making growth look stronger than the underlying economy.

He wanted to look beyond headline GDP to consumer spending and business investment. A pickup in hiring, he said, would help resolve that uncertainty and could shift his attention toward earnings.

His emphasis differed across the two questions. Growth was the immediate issue he wanted to understand; company earnings were his priority when looking several months ahead. Both informed how he interpreted the prospects for risk assets.

Financing can connect markets across borders

Akshay also widened the discussion beyond the Federal Reserve by focusing on Japan. He described the yen carry trade as borrowing in a low-interest-rate currency and investing in assets with the aim of earning higher returns, including U.S. stocks and potentially crypto.

He explained that rising Japanese rates and a strengthening yen could pressure borrowers to repay loans and sell assets. A move originating in currency and financing markets could therefore affect positions elsewhere. Following that connection helps explain why a stock or crypto market can respond to news from another economy.

He offered a related example in Bitcoin ETFs. Some purchases, he said, could be paired with short futures positions to capture the spot-futures spread. He would examine both the persistence of inflows and the futures premium before reading those flows as fresh bullish conviction. The example reinforced his wider point about understanding the financing and incentives behind a position.

Together, these observations give XT TradFi readers a practical framework for following a broader range of markets: examine the funding conditions, test the quality of growth, and consider whether earnings support the outlook. The relevant signal may change with the question and the time horizon.

Based on Akshay’s contributions to XT’s English-language AMA, “Rates, Growth, and Earnings: What’s Driving Risk Assets?” on October 29, 2026. XT TradFi product information is separately sourced from its official page. The discussion reflects market commentary and personal views at the time, not financial advice. Session replay.

About XT Exchange

Founded in 2018, XT Exchange is a global digital asset trading platform serving more than 12 million registered users across over 200 countries and regions. Its services span spot, margin and futures trading, TradFi market exposure, a real-world asset marketplace, and everyday payments through XT Pay.

Guided by Xplore Crypto Trade with Trust, XT Exchange enters its ninth year with Build the NeXT, reflecting its focus on trust, broader market access, and practical uses for digital assets.

Join the XT Exchange Community: X (Twitter) | Telegram | Facebook | Instagram | LinkedIn | Medium | YouTube

Disclaimer: XT Exchange reserves the right, at its sole discretion, to modify, amend, or cancel this announcement at any time for any reason without prior notice.