The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
MACRO - Another strong day for stocks which ended +0.5% and +1% on SPX and NDQ respectively. Futures are once again another small bit higher today to the tune of about 0.3-0.4%. Continued, sustained macro strength. Interest rates also continue their rally, with 10Y now falling to 3.66%. This takes us back to levels not seen since the beginning of October and a pretty big move from recent highs of almost 4.3%. The whole curve is now at 443/385/366/371bps on 2/5/10/30y respectively. Once again, not really much more to add here, I think it's encouraging to see some stability but the big few days of data don't kick off until next Friday, 2nd December when we get payrolls.
CRYPTO - We saw a bit of strength yesterday when ETH briefly popped above 1.2K but other than that there's not much to write home about with BTC hovering just below 16.5k. Alt coins generally seem a touch lower, giving back some gains from yesterday. I don't think there's really much to add here with yesterday being a quiet session due to thanksgiving and I'd imagine a lot of people continue into holiday mode from today and thru the weekend too.
NFTs - Indeed, NFT volumes are also relatively quiet with BAKC posting the highest volumes, of 356E taking to a floor of 5.28E with a 23% move. A noteworthy mover is is SuperRare's RarePass which rose by 40% yesterday to a floor of 38E, following 140E of volume yesterday. This comes after a Space held yesterday with some interesting commentary from Gazers artist, Matt Kane, who is one of the featured artists doing a drop of 250. Also worth noting there was an Invisible Friends 3D drop yesterday which has performed relatively well, 239E of volume and a FP increase of 36%+.
All in all a relatively quiet post holiday Friday - hope everyone had a great thanksgiving and looking forward to seeing lots of people next week in Miami! Have a good weekend.
-OSF