ETH ETFs Get the Greenlight, Flows Remain Net Bullish
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MARKET UPDATE August PCE data came in slightly below expectations, with Core MoM PCE reading 0.1% vs. 0.2% expected, reaffirming that inflation is receding steadily. Debates over the size of the Fed’s next rate cut have already begun, with odds for 50bps increasing slightly after the PCE data, rising to 52.1% compared to 49.3% yesterday. Stocks are relatively flat to end the week, with the SPY 0.43% gaining 0.14% and the...
MARKET UPDATE The PBoC has announced a fresh package of economic stimulus, weighing a $142 billion injection into top domestic banks and pledging to stabilize the housing and stock markets. Domestically, durable goods data came in better than expected, and GDP met expectations, providing more confidence in the stability of the U.S. economy. Crypto is responding positively to both developments, as BTC -0.45% has gained to $65.3k and ETH 2.68% to $2,650,...
CRYPTO MARKET UPDATE THIS MORNING'S BIG MARKET MOVER WAS A SIGNIFICANT MISS IN THE JOBS REPORT, WITH NFP COMING IN AT 114K, WELL BELOW MARKET EXPECTATIONS OF 175K, AND THE UNEMPLOYMENT RATE RISING TO 4.3%. This triggered concerns among investors, with some invoking the "Sahm Rule." As a result, yields have naturally fallen, with the 10-year Treasury yield approaching 3.8%. The DXY also took a sharp hit, now hovering just...
CRYPTO MARKET UPDATE RISK ASSETS ARE BROADLY LOWER TODAY, WITH THE SPY 0.43% AND QQQ 0.27% PARING SOME OF THE RAPID GAINS SEEN YESTERDAY FOLLOWING THE FOMC MEETING IN WHICH RATES WERE HELD STEADY, BUT DOVISH COMMENTS SPARKED OPTIMISM, LEADING TO MARKETS PRICING IN THREE RATE CUTS BY YEAR-END. The US10Y has dropped below 4% for the first time since February. Crypto is showing steeper losses, with BTC -0.45% sharply lower to $62.7k...
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