Week of Potential Catalysts, Lido Hit By Fake SEC Rumors
Equities opened higher this Monday morning on the back of easing bond yields. The ^SPX -0.06% and NDQ are trading 0.6% and 1.0% higher, respectively. However, the U.S. 02Y has turned higher since this morning, now pushing back towards 4.9%. The DXY has moved lower, assisted by increased hawkish rhetoric from the ECB. The crypto market rallied slightly in concert with equities but is stalling in the face of rate strength. The majors are marginally higher compared to 24 hours prior, with ETH and BTC both trading 0.3% higher. Among the top performers is GMX (+4.8%), which performed exceptionally well throughout the deeper parts of the bear market due to the actual usage of its decentralized perps application. Among the weekend underperformers was LDO, which, as we will touch upon below, was the victim of an unfortunate market narrative, decreasing over 10% on Saturday afternoon.