The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
MACRO - Well, it's the day of reckoning. At 8.30AM EST we get the inflation number for the month of September. As a reminder the consensus expectation is 8.1%, (last month the actual number was 8.3%), so if we hit, it would be the third month in a row we see lower inflation, albeit by a small amount. With oil prices down 17% on average for the month of September vs August, I do feel like we should see a bigger reduction, and if we don't it's pretty bad because it means there is a big core inflation problem. Equities ended the day kind of unch to smalls lower yday, and are smalls in the green this morning. While rates remain relatively stable. I guess let's see what happens in a few hours...
CRYPTO - not really sure what's going on this morning but seeing some big red candles across the board. BTC finally dropped below 19K while ETH hovers around 1250. More painfully, altcoins are also getting decimated today, seeing 10-15% moves across my screen. It's a bit of an alarming move but at the same time we've been commentating on how crypto has held up very well vs macro and its lack of volatility....well...we got the volatility today lol. Not really sure what's causing but I suppose some pre-selling or shorting ahead of today's number.
NFTs - Reasonable volumes continue with the Yuga trio posting almost 1K ETH of volumes between BAYC, MAYC and Otherdeed. Prices in that complex seem relatively unchanged as the SEC news starts to blow over. My main concern there is if it results in any delay for staking which definitely would be a big negative IMO. Elsewhere activity is relatively low although it's worth mentioning that God Hates NFTees has seen a big 35% move higher to a floor of 0.77ETH. Quite funny seeing these random projects come back from the dead, I often wonder where it comes from!
We'll be airing Degenz TV Episode 6 today on Twitter, you can also check out the uploads of YT and Spotify too!
GL today
-OSF
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