Market Update
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It's a new day, but the script is pretty much a repeat of the last several weeks, characterized by rising interest rates, particularly at the long end of the curve. The U.S. 10-Year Treasury yield is inching toward 4.8%, while the 30-Year yield is nearing 5%, spurred by higher-than-expected JOLTS figures released this morning. Alongside this, the DXY is gaining, gold prices are declining, and equities are in the red...
NYSE Arca Files for Grayscale Ethereum Trust Conversion, Coinbase Obtains Singapore MPI License
Crypto markets rose over the weekend, with BTC (+0.33%) trading above $28k and ETH (-1.89%) surpassing $1,700, triggering over $92 million in short liquidations over the last 24 hours. After rallying amid Ether ETFs being greenlighted, ETHBTC (-2.73%) is retracing some of its gains as investors may be positioning for Bitcoin ETF news as the next crypto-specific catalyst. Equity markets are mixed, with the SPY declining 0.35% while the QQQ is...
Equity indices are relatively flat in the last trading session of the third quarter, with the QQQ (+0.04%) faring slightly better than the SPY (-0.11%). U.S. Treasury yields are retreating after August PCE data showed softer than expected readings for MoM headline and core PCE. ETH (+1.07%) is leading crypto markets, trading at $1,670, as the first Ether Futures ETFs are set to begin trading early next week, while BTC...
Equities and crypto are finally seeing some relief, with the Nasdaq and S&P bouncing ~1% while BTC has gained 3.4% to trade at $27.1k. Investors continue to look for signs of a soft landing, with a fresh release of 2Q GDP matching consensus estimates of 2.1% annualized growth. Meanwhile, pending home sales fell 7.1% in August, massively overshooting 1% estimates from Bloomberg. The slowdown was widespread, with every region in...
U.S. equities are sliding for the fifth day out of the last six trading sessions. The SPY and QQQ are both down about half a percent after paring early session gains. BTC (+0.07%) is roughly flat despite the SEC delaying Ark Invest and Global Xâs spot Bitcoin ETF applications well in advance of their deadlines. The decision to delay the applications early has likely lowered the chances of seeing an approval...
Recent bearish trends continue to persist this afternoon. The SPX has sunk to its lowest level in months in part due to underwhelming home sales and consumer confidence data. Despite this data, rates continue to rise, with the U.S. 30-year yield eyeing the 4.7% mark after an early morning bout of short covering. All market sectors are currently in negative territory, and in the commodities market, oil prices are rebounding...
U.S. equities and crypto markets are falling today as investors digest the idea of a higher-for-longer interest-rate future. Following yesterdayâs FOMC meeting, expectations for the 2024 and 2025 federal funds rate sharply increased (see below). The SPX and NDQ are both down over 1% at the time of writing, while BTC (-1.63%) and ETH (-1.98%) are showing larger declines. ETHBTC has fallen below 0.06, its lowest level since July 2022....
Equity markets are flat today in anticipation of the Fedâs interest rate decision and revised dot plot announcement this afternoon. BTC is down 0.5% today, continuing to range between $26.9k and $27.4k for the last week. ETH is underperforming, down 1.5% in USD, and reaching 14 month lows against BTC. The ETHBTC pair has broken the 0.06 level, trading at 0.59 at writing. This follows notable on-chain transfers from whales...
Major equity indices are trending lower today, while interest rates are on the rise, with the US 10-Year seemingly poised to hit a new YTD high. The DXY started the day strong but has since plateaued, currently sitting flat. In the commodities market, gold, which BTC has directionally tracked quite well this year, is also up. In the crypto market, Bitcoin experienced a morning rally, surging back up to nearly...
