WM (@WasteManagement) reminds you this Earth Day to toss your clean cans and bottles into the recycling bin at the @RocketArena and at home. Do your part to Recycle Right®! #LetEmKnow# LEARN MORE:

USDf Mints While Peers Burn (#205#) $USDF drew $32.04M of net mints at maximum pressure intensity while wM and FRXUSD burned at -100. The Bank Run Gauge recovered to -14.5 from -41.0; a return to -20 puts flow stress ahead of USDC's $766M weekly drain. See the map.

Check out the fresh visual identity our Design Studio created for the unification of four prominent museums in the Netherlands which relaunched under a single brand: Wereldmuseum @WM_Amsterdam 🌎

Xiaomi's new world model can generate a seven-camera driving sequence lasting ~ 45s. It's called Xiaomi Auto World Model 2.0, a unified streaming causal world model for Physical AI. Generating long driving videos comes with a problem: scenes can start to drift over time. Xiaomi tackles this with WorldRec 2.0. It first reconstructs static and dynamic 3D Gaussians from footage captured by multiple cameras across different time steps. Then uses this 3D scene to guide future video generation, helping keep road geometry and visual details consistent over time. The results go beyond video generation. E2E-WM-RL vs. ST-JEPA-E2E in 1,000 closed-loop simulation scenarios: • Collision rate: 1.2% → 0.4%. • Scenario completion rate: 95.2% → 96.3%.

MORGAN STANLEY $MS Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $20.34B (Est. $19.95B) 🟢; +12% YoY 🔹 EPS: $3.03 (Est. $2.91) 🟢; +8% YoY 🔹 Net Income: $4.91B; -12% YoY 🔹 Equity Trading: $5.80B (Est. $4.9B) 🟢 🔹 Fixed Income Trading: $2.01B (Est. $2.16B) 🔴 🔹 Investment Banking: $2.16B (Est. $2.16B) 🟡 Segment Net Revenue: 🔹 Inst. Securities: $10.03B (Est. $9.21B) 🟢 🔹 Wealth Management: $9.07B (Est. $9.01B) 🟢 🔹 Investment Mgmt: $1.46B (Est. $1.47B) 🔴 Wealth Management: 🔹 Net New Assets: $232.4B 🔹 Fee-Based Flows: $80.5B 🔹 Pre-Tax Margin: 30.4% 🔹 WM Asset Mgmt: $5.54B (Est. $5.40B) 🟢 🔹 WM Net Interest: $2.23B (Est. $2.30B) 🔴 Institutional Securities: 🔹 Advisory: $887M (Est. $798M) 🟢 🔹 Equity Underwriting: $525M (Est. $663.8M) 🔴 🔹 FI Underwriting: $747M (Est. $669.8M) 🟢 Investment Management: 🔹 AUM: $2.05T 🔹 Long-Term Net Flows: $15.8B Financials: 🔹 ROTCE: 22.6% 🔹 Pre-Tax Profit: $6.48B (Est. $6.18B) 🟢 🔹 Return on Equity: 17.8% (Est. 17%) 🟢 🔹 Efficiency Ratio: 67% 🔹 Std. CET1 Ratio: 14.9% 🔹 Provision for Credit Losses: $148M 🔹 Book Value/Share: $68.59 (Est. $68.86) 🔴 Capital Return: 🔹 Share Repurchases: $1.5B 🔹 Quarterly Dividend: $1.15 Key Updates: 🔸 Wealth Management reported record net revenues of $9.1 billion on robust asset management fees and higher net interest income, generating a pre-tax margin of 30.4%. 🔸 Across Wealth and Investment Management, total client assets grew to $10.5 trillion, demonstrating the scale of our platform and the strength of our franchise. 🔸 The quarter included charge-offs of $105 million related to certain corporate and commercial real estate loans which had been largely provisioned for in prior quarters. Comments: 🔸 “Wealth Management reported record revenues and added $232 billion in net new assets and $80 billion in fee-based flows.”