The information in this message does not represent any financial or investment advice. They're just random thoughts in my head. |
gm
MACRO - So equities gave back some gains yesterday, with the SPX closing 0.75% lower but more noticeably NDQ closing more than 2% lower. Rates have started to edge higher once again but the curve seems relatively stable for a few days now in this range at 444/424/406/418bps on 2/5/10/30y. Oil has been steady climbing the last fewdays and is now back at $88. Don't really have a tonne more to add here, sort of feels like the next few days will be rangebound/redundant until the FOMC starts on 1st Nov and we hear from the Fed on 2nd.
CRYPTO - It seems we've held onto most of the recent gains with BTC still at 20.6K and ETH at 1550. I think at one stage we were close to breaching 21K and 1600 but didn't quite have the legs to move beyond those points. I think and imagine a lot of the short base has probably been cleared out in the last couple of days so it does make positioning a lot "cleaner" here going into next week (would have been better if there was a still a big short base into positive news IMO) but we'll have to live with it and wait and see what happens I suppose. My gut says we still have some legs to move higher.
NFTs - Volumes in the last 24H certainly quiet here, with 9gag's Potatoz taking the top spot with 188E of volume and a 24% increase in floor to 1.55E. Interestingly prices overall across the market seem to be stable which is good to see...ETH up and NFTs not that much lower. The lack of volume I do think is concerning though, but it's been accompanied by a general decrease in listings over the last 24H which once again is encouraging. All in all, not a lot to write home about today, which is fine, because we certainly have a big few days coming up next week onwards! GL today
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