Pressure
on US tech stocks was a significant theme in US trading yesterday, dragging
cryptocurrencies down. The Crypto market capitalisation adjusted 1.1% overnight
to $2.05 trillion.

 

Bitcoin
is losing 2% overnight, down to $42.8K, and ether is losing about 1.5% to
$3.3K. Other top coins are d

The pair threatened to break its 200-day moving average (blue line) in trading yesterday, only to settle just above it into the close after equities slumped – resulting in a less friendly mood for risk trades.
Oil also fell as a result and that saw the loonie reverse gains from 1.2453 to back abo

German GDP grew by 2.7% in 2021
Inflation upwards trend to weaken noticeably from January
Q4 growth to be subdued due to production difficulties, COVID-19 restrictions

It’s funny to se how they are that confident on the inflation outlook when they view that supply bottlenecks are goin

The firm now sees the Fed hiking rates by 25 bps each quarter through to Q3 2023, starting from March this year. Adding that they expect the Fed to start reducing its balance sheet as an additional means of removing monetary accommodation in Q3 2023. On the rate hikes, two certainly was rather conse

Inflation won’t be as transitory as forecast some months agoOmicron variant a factor of uncertainty but won’t derail recoveryInflation risk moderately to the upsideBut inflation to be below target for 2023, 2024Inflation will depend on evolution of energy costsOil price has recoveredHe’s trying to a

At the
annual meeting of the Communist Party of China last year, there were a few key
points. I interpreted the content as seeking „stability“. Why do I
say seeking stability?  What’s the point?

 

The first
point of the two major points mentioned at the annual meeting is that the
demand is decl

The latest trial could see the introduction of central bank digital currency move a step closer in Switzerland. The SNB says that they integrated the digital currencies into payment systems and used them in simulated transactions involving UBS, Credit Suisse, Goldman Sachs, and Citigroup.The test sh

The value of
the cryptocurrency market rose almost 3% over the past 24 hours to 2.07
trillion. Exceeding the psychologically important circular mark pulled demand
for coins outside the top 10.

 

Separately,
bitcoin enjoyed demand from the pull into risky assets in traditional financial
markets a

Prior -5.6%Market index 580.6 vs 572.8 priorPurchase index 283.4 vs 277.3 priorRefinancing index 2,349.8 vs 2,351.3 prior30-year mortgage rate 3.52% vs 3.33% priorDespite a 19 bps jump in the long-term rate to 3.52% – the highest since March 2020 – mortgage applications were higher in the past week

Yes, it has been that long and pandemic aside, we would not be here awaiting a 7% print in US CPI later today.So, how did markets look like back then?

10-year Treasury yields were at 14%
S&P 500 index was at 110
Gold was at $350
USD/JPY was at 250

In the context of today’s leve