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Amidst record-high bond yields, large tech stocks led market indexes higher on the week's open. The US30Y is at its highest levels since 2011, yielding 4.46%, while the US10Y is at its highest levels since 2007, yielding 4.34%. ^SPX 0.52% (+0.15%) and QQQ 0.39% (+0.71%) opened higher before retracing to nearly flat at time of writing, with tech stocks leading the majority of the open's gains. BTC (+0.0%) and ETH (+0.1%) have also...
Despite yield reversal on bonds, equities market continue their retracement. Yields on the US10Y retraced 0.11% to 4.23% after peaking midday yesterday at decade-plus highs. Equities markets followed suit to reflect surging borrowing costs on future earnings, with the ^SPX 0.52% and QQQ 0.39% retracing 0.4% and 0.5%, respectively. Yesterday's bloodbath in crypto markets also continued, with BTC and ETH slipping by 7.4% and 6.1% in the past day. This move down has...
BTC has broken sharply to the downside, exiting its tightly restricted multi-week range. The leading cryptocurrency has dropped as low as $27,700 as of writing, marking consistently lower near-term troughs. The slide began earlier in the week and mirrored the risk-averse sentiment in Equities. Stocks and bonds show little change today, while the total cryptocurrency market has slipped by around 3.3%. The decline coincides with a sharp rise in US...
Traditional equity indices are continuing this week's decline, with the SPY 0.52% and QQQ 0.39% both down over 0.40%. The minutes from the last FOMC meeting are to be released at 2:00 PM EST today, which should shed some light on what the Fed thinks about inflation and the likelihood of another rate hike in September. The market is currently pricing the probability of a September hike at 11.5%. BTC (-0.43%) and...
On Tuesday, major equity indices saw a decline attributed to global economic concerns, particularly centered around China, and cautionary statements from Fitch regarding further potential downgrades in ratings for U.S. banks. Despite these apprehensions, July's U.S. retail sales data defied expectations, registering a 0.7% monthly increase, surpassing economists' expectations of 0.4%. This outcome underscored the enduring strength of the U.S. consumer. Interestingly, the day witnessed relatively stable rates, which could...
Coca-Cola Debuts NFT Collection on Base, MetaMask Integrates Apple Pay's 1-click Feature
Equities markets wavered higher as bond yields edged closer to decade highs ahead of retail sales data tomorrow. US10Y is currently at 4.20% and is nearing its last highest daily close of 4.24% in Oct '22, while the US02Y is at 4.96%, 0.12% away from its last highest daily close in Mar '23. This translates to a yield curve inversion between the 10 and 2-year of -0.76%, after putting in a...
Equity indices are declining today on higher-than-expected PPI data for July. The SPY 0.52% and QQQ 0.39% have fallen 0.24% and 0.88%, respectively, while U.S. Treasury yields have risen across the board. Crypto markets are faring better, with BTC (+0.17%) trading near $29.5k and ETH (+0.12%) hovering around $1,850. Rocket Pool (RPL) has been a strong performer over the last three trading days, rising 11.30% after Coinbase announced a strategic investment in...
Inflation ticked up in July but modest price increases likely deter Fed from raising rates in September. CPI rose 3.2% YoY (vs. 3% in June), while core CPI rose by 4.7% (vs. 4.8% in June). Monthly figures painted a rosier picture, with both core CPI and CPI rising a mild 0.2% in both months. Markets reacted positively on the news at open, with ^SPX 0.52% and QQQ 0.39% both opening higher before retracing...
BTC has retraced 0.8% after briefly trading above $30k. The rally followed comments from Galaxy Digital CEO Mike Novogratz on an earnings call where he hinted at a potential approval of a spot ETF within six months, citing sources at BlackRock and Invesco. ETH is also lower 0.3% reaching $1.85k. Crypto Casino and Exchange Rollbitâs RLB gained 50%, entering and outperforming the top 100 after recent updates to its tokenomics...
Major equity indices are sliding today, impacted by disappointing trade data from China overnight. This decline was further compounded by credit downgrades issued by Moody's for multiple regional banks, such as M&T Bank and Pinnacle Financial. These downgrades were attributed to deposit risks, looming recession concerns, and commercial real estate portfolios faltering. As a ripple effect, the DXY has surged by 50 bps in response to these negative headlines. Long-term...
Traditional markets rebound after posting a loss last week as investors look to Thursday's CPI print for clues as to whether the Fed will continue to raise rates. ^SPX 0.52% and QQQ 0.39% are trading at 0.6% and 0.2% higher than Friday's close, while earnings reports are set to roll in for the worst quarter since 2020. Digital asset markets seem to be breaking correlation from traditional markets, with BTC (-0.9%) breaking down...
