One Step Closer to Shanghai, Encouraging Data on Ransomware
On Monday, US equities rose as investors considered the potential for a slowdown in interest rate hikes from the Federal Reserve and prepared for a busy week of earnings reports. The ^SPX -2.36% (+1.2%) and NDQ (+2.0%) saw gains, with semiconductor stocks and shares of companies like Tesla and Apple seeing increases due to hopes that a reopening in China would boost their performance. Despite equities enjoying another day in the green, yields have risen, with the US 2Y yield moving back above 4.2%. Naturally, the DXY also strengthened slightly, and the rally in crypto has been more subdued than the one in legacy markets, with BTC (+1.3%) and ETH (+0.2%) relatively flat over the past 24 hours. Meanwhile, liquid staking service providers are among today’s top gainers, with LDO (+11.1%) and RPL (+5.2%) continuing to outperform ETH (+0.02%). The most recent move may be due to the successful Ethereum shadow fork completed in the early Monday morning hours, discussed further below.
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