The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
**MACRO** - Decent day for stocks yesterday staging another small recovery while futures are practically unchanged this morning. Interest rates continue to be rangebound and understandably haven't sparked a large move in either direction given the FOMC commences today. It will conclude tomorrow which is when we get the press conference and we'll see if there are any bombshells that come our way (I still think no). On Friday we get payrolls for which the consensus at the moment seems like it's 180k. Remember last month came in at a staggering 336k well ahead of expectations which sparked an equity market and interest rate sell-off for the next few weeks, so it does seem clear to us now that lower numbers are certainly better. Also worth noting the recent oil weakness as it has regressed back to $82.
**CRYPTO** - Once again imo we've seen pretty sturdy price action; we're off the highs of yesterday but BTC has done well to hold in at 34.2K and ETH at about 1800. There were some rumours on Twitter today that the SEC is set to "greenlight" ETF applications on 2nd November, but they appear to be from dubious sources without any substance behind them so I would def take that with a pinch of salt. However, tomorrow ill indeed be November which means there's less than 3 months until the final ARK deadline and 2 months until the end of the year. It does make you feel that the announcement could truly be any day now. Elsewhere in alts SOL continues to massively outperform the market climbing to new YTD highs of $36. Something that rocked people yesterday was a Unibot exploit which resulted in many people losing their funds, it looks like the size of the exploint is as big as $560k but I think it's more than that as there appears to be a few different exploiter addresses. Unfortunately I got caught up in it too and it's a reminder to be careful about some of the systems you use. Unibot have said they will refund the monies and most of the coins that dumped (a lot of memecoins) have rebounded so I wonder if it causes a very weird stimulus like effect into shitcoins once refunds are issued.
**NFTs** - Incredibly it's yet another day of green for NFTs with BAYC once again leading the volumes climbing above 30 ETH and starting to narrow the gap on Punks at 47ETH. Most things look like they've edged up 2-5% and there's certainly a feeling of "are NFTs back?". Jack Butcher and Snowfro's "Snowpepen" drop rose to a floor price of 5.33ETH overnight with one buyer capturing about 13% of the supply. Elsewhere in the art world we saw Alpha Centauri Kid disappear from Twitter, something we've seen happen before and it'll be interesting to see what he has planned there.
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GL today!