The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm from the Eurostar
MACRO - After what’s felt like a weak few days equities bounced off the lows yesterday to close unchanged. Futures are looking green this morning which sees SPX up 0.5% and NDQ up 0.8% respectively. Interest rates seem to have chilled out a bit but we still see 10Y close to YTD highs of 392bps. Yesterday we got more insight into the Fed’s decision making and it appears pretty much all of the committee were in favour of slowing the pace of hikes, while still acknowledging inflation is a legit risk and we’re not completely out of the woods. Imo those minutes were probably “not as bad” as the market was expecting, and altho I think there isn’t really anything new there, imo that’s why we bounced a little.
CRYPTO - After seeing some decent weakness yesterday (majors down 5-6% and alts down 10-15%) we are seeing a decent recovery in line with macro which puts BTC at 24.4K and ETH at 1670. Alts look like they’re up 5-10% with $BLUR impressively climbing back above the $1 level once again. Yesterday we saw the next phase of the sewers which seems to have perhaps had a tiny impact on $APE but that’s worth keeping an eye on into the summoning with a word of caution before the supply unlock.
NFTs - New day same shit really. Volumes continue to remain elevated across the board. I can’t see marketplace volumes coz I’m on my phone and I have EDGE which is really fucking annoying and I’ve been desperately trying to load the Degenz website but it’s starting to drain my phone battery and that makes me feel anxious so I’m going to have to write this part from briefly glancing at the page this morning where I seem to recall stuff being down about 5% or so but on continued elevated volumes due to $BLUR farming. In particular I believe the Opepen edition took a big hit dropping by about 25% or so. The festivities for NFT Paris start today and while I don’t expect anything specific there’s always usually some random alpha that comes from these events. If you’re in Paris def stop by the main event on Saturday I’ll be around there, and of course hope to see many of you as possible at our Rekt event on Fri night!
GL today