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Markets Stay In Limbo
Today’s action looked more like a Triple Witch Friday than anything you would expect to see on a Monday. A peak of the news mentioned a Fed rate cut and positive news from Intel, but I was suprised with the level of trading in the S&P and Nasdaq.Last week I had talked about the symmetry in […]
When Policy Goals Conflict
Matt Yglesias has an excellent post discussing the way that US energy policies often work at cross-purposes. The administration many wish to reduce energy exports from adversaries like Russia, Iran and Venezuela, but not so much as to hurt the global economy. The administration may also wish to limit new domestic energy production to address global warming, […]
Republicans urge SEC to drop SAB 121 crypto accounting rule
Key Takeaways Bipartisan congressional members request SEC to withdraw SAB 121. SAB 121 requires custodians to treat digital assets as liabilities, increasing costs. Share this article Republican lawmakers from both chambers of Congress have sent a letter to the Securities and Exchange Commission (SEC) urging the agency to rescind its special accounting rule for cryptocurrency […]
Key Events This Week: Core PCE, GDP, Durables And Fed Speakers Gallore
After a fast and furious week which saw not just key economic data but also central banks galore, fedspeak will dominate the week until we reach the core PCE number on Friday with Bostic (voter – dovish) opening up proceedings today, followed by Goolsbee (non-voter – dovish) who may give indications that he is looking […]
We’re Dealing With Muted Monday Malevolence
Image Source: Pexels The S&P 500 is like a plane in a holding pattern, trading mildly higher. Nothing to write home about… nothing to get excited about… right?Well, traders are digesting the 50-basis-point rate cut we got last week – and weighing the 50/50 proposition that the Fed may cut another 50 basis points at their […]
Fed Rate Cut Spurs $1.6 Billion Bitcoin Buying Spree Among Whales, Can BTC Reach $70,000?
↵Image Source: Unsplash The Fed rate cuts have boosted the confidence of Bitcoin investors, with whales buying up to 1.6 billion BTC since the macro decision. With such a bullish outlook, there is the possibility that the flagship crypto can soon reach $70,000. Fed Rate Cuts Prompt Buying Spree Among Bitcoin Whales The Fed rate cuts have prompted […]
Gold Is Enjoying A Banner Year Despite Softer Inflation
Image Source: Pixabay Everyone’s favorite precious metal is red hot this year, rising nearly 27% through Friday’s close (Sep. 23). Gold’s rally beats the strong runup in US stocks as well as rallies in the major asset classes, based on a set of ETFs.An ounce of gold closed at yet another record high on Friday, topping $2,646 […]
Sifting Through The Latest Fed Musings
Image Source: Pixabay Global markets inched higher on Monday as investors sifted through the latest musings from Federal Reserve policymakers. At the same time, the euro took a tumble against the dollar after the eurozone’s business activity data fell flat. It’s a fresh look at the global economy’s health—and not everyone’s feeling great.In the U.S., services […]
Dow Scores 3rd-Straight Record Close
The Dow notched a third-straight record close on Monday as investors worked through September’s manufacturing and services PMI readings, with the former hitting 15-month lows. The S&P 500 also settled at a fresh all-time high, and the Nasdaq scored a healthy gain of its own amid prolonged interest rate cut optimism. Elsewhere, the Cboe Volatility Index […]
The Early Cutting Cycle – What The U.S. 10yr Should Do
The Fed has started its rate-cutting process, so what does that mean for longer dated rates? So far the reaction is up for market rates. That’s not unusual. It likely persists for a bit. But history also shows that the 10yr yield ultimately hits a level lower than seen at the first cut. A material […]
