The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
MACRO - A quiet start for equities this morning which have edged a touch higher, to the tune of about 0.2% on both SPX and NDQ. Interest rates remain strong with the curve still close to yesterday's lows at 391/336/339/374bps across 2/5/10/30y. As far as data goes we have stuff like US retail sales, housing starts and initial jobless claims but these generally tend to be lower vol events unless the number swings majorly. With that in mind I'm not really sure what we're waiting for macro-wise for the rest of the month and we may well enter that lull period again.
CRYPTO - The weakness persisted but we did see BTC and ETH bounce off their respective lows. They're now currently sitting at 26.5K and 1773 respectively while alts are certainly in the lurches. We're about 15% off the highs now on ETH and that is certainly a considerable pullback. I still don't have a great sense for where we're going; many are suggesting the levels at present form a strong support but from here I think we just have to hope that whatever the reason was for the technical sell pressure, that most of it has passed.
NFTs - Another day of low volumes, dropping to 24.8m, while NFT prices have generally lost further crowd apart from the Yuga complex which seems to have staged a modest comeback. The "Evo 1 reveal" for Yuga is slated to be in May according to their website, and that is potentially a catalyst for things to start picking up again or focus to return to NFTs. Other than that, it's been another day of quiet action and at this point I think most people are ready for the weekend.
GL!
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