The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
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MACRO - Equities had a powerful session yesterday closing 2% higher on both SPX and NDQ, a bit of a squeeze I guess, because futures are back down 1% again today. Feels like yesterday's equity rally was triggered by a rally in global interest rates after the BoE announced it would purchased long-end gilts (lol), but that rally seems to have been short-lived with interest rates back out higher again and at 421/406/382/377bps across the curve. Worth noting that oil has been strong over the last couple of days climbing back above $80 to $82, but in general the trajectory of it seems to be lower (barring any further geopolitical tensions) and I think we can possibly expect US inflation to be lower again in September, for what would be the third month in a row. I do feel like that's something people are forgetting...a lot of focus is in Europe right now but I actually think the US could be doing OK here.
CRYPTO - Crypto continues to hold up pretty well with BTC just below 20K and ETH just above 1300. In general, crypto feels quite well bid to me here, I'm not sure if that's because of short covering or something but there seems to be some persistent buying for the last coulpe of days or so. As a result, I'm a bit at lost as to what to expect here for crypto over the coming days and the rest of the year...seems to have lost some correlation to macro too (for the better)...I guess we'll have to wait and see.
NFTs - Decent volumes in Tyler Hobbs' (creator of the Fidenza) QQL mint pass which sold out at 14E in primary and is now up to 19.5E in secondary, with just over 2K ETH in volumes in the last 24H. Looks like almost 700E in volumes in a project called HOPE which I've not heard of yet and will need to do some digging into. Elsewhere it seems relatively quiet with some OKish volumes on Yuga. We saw a huge Punk sale yesterday as Seedphrase sold is hoody Ape punk for 3.3K ETH which is the 4th highest punk sale of all time in ETH terms. Kinda feels like there is actually a lot going on now in NFTs with some seriously chunky trades....we're definitely far from dead in blue chips!
GL today!