Bloomberg Increases BTC ETF Odds, Curve Debt Remains a Risk
Aug 2, 2023
Market Update A proposed increase in long-term treasury issuance coupled with Fitch's downgrade of U.S. government debt has caused upward pressure on long-term rates today, with the U.S. 30-year rate moving to 4.2%, the highest since November of last year. Major equity indices have experienced a concurrent pullback alongside a 15% spike in the VIX. Meanwhile, the DXY has surged to 102.6, reaching its highest level in nearly a month. Among the majors, $BTC has retraced some gains from its run to $30k yesterday evening, dropping to $29.3k, while $ETH remains range-bound, currently trading aroun