Markets Drop to Start Q4, EigenLayer Token Goes Live
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CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC climbing back above $61,000 and SOL moving above $145, while ETH is lagging, trading around $2,400. Among today's outperformers is SUI, which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...
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 0.24% 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 has gained to $65.3k and ETH to $2,650,...
MARKET UPDATE Equities are gaining following the People’s Bank of China announcing the largest stimulus package since the pandemic. China-related names are surging, with FXI 7.40% and KWEB 6.49% gaining more than 8%. The SPY 0.24% and QQQ 0.36% have gained 0.22% and 0.67%, respectively. Crypto is mixed, with altcoins outperforming the majors. BTC has declined modestly to $63k, and ETH is trading just above $2,600. TIA has been one of the top gainers...
