BTC ETF Fakeout, Ripple Buyback
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Rates are broadly lower again on Tuesday, with the US 10Y nearing 4.4%, down from 4.7% just under a week ago. Risk assets are on the rise, with both the $SPX and $QQQ showing gains today. Crypto performance is mixed so far, with BTC -0.58% retesting the $63k level after US market open, following a rally to just over $64k in the early morning hours. Meanwhile, ETH -0.90% is still hovering just...
U.S. equities are extending Fridayâs rally, with the $SPY and $QQQ both gaining about 0.65%. This weekâs macroeconomic data includes consumer credit tomorrow, wholesale inventories on Wednesday, and consumer sentiment on Friday. There are Fed speakers set for every day this week and itâll be interesting to monitor if they take a dovish or hawkish tone after Powellâs dovish speech last week. Crypto markets gained over the weekend, with BTC -0.58% ...
We are finally starting to see some relief in interest rates and the DXY 0.00% following yesterday's FOMC meeting and the Treasury's quarterly refunding announcement. BTC -0.58% has rebounded from yesterday's low of $56.5k and is now trading just above $59k, while ETH -0.90% is attempting to break through $3k resistance. SOL -2.36% has outperformed, gaining 10% compared to BTC yesterday and is now trading just below $140. The market is showing decent breadth...
Risk markets were selling off before today's FOMC meeting where it was unanimously voted to keep interest rates steady. The Fed announced it would be reducing the speed of its balance sheet taper from $60 billion per month to $25 billion per month, a larger than expected reduction. Following the announcements and Chair Powellâs comments, yields turned sharply lower with the US10Y falling 9 basis points while equity indices rose....
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