The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
MACRO - Somewhat of a weaker day yesterday in macro, particularly in nDQ which closed about 1% lower but this does come after a pretty strong rebound of late. Interest rates yields continue to come down, particularly in the front-end as the curve starts to become a little less inverted. We're at 450/394/379/389 on 2/5/10/30y and I would expect continued volatility there are the market starts to speculate into the next FOMC meeting. Not really much more to add here, we're sort of at that awkward point in the month where we need to see a bit more data before having a clearer understanding of which way we're heading.
CRYPTO - Between the hackers dumping crypto and continued concerns surrounding DCG and Genesis, crypto has continued its slow and painful bleed lower which sees BTC now at 15.7K and ETH marginally above 1K, while altcoins are generally about 5-10% lower as they also continue their descent. We spoke last week about how Genesis/DCG (still unclear to me at what level) was trying to raise $1bn but so far it sounds like they've had a tough time. Allegedly now the number needed to raise is $500m but I'm not sure if that's a good thing or a bad thing, and tbh it looks like Genesis is probably headed for bankruptcy, with the main hole actually coming from the money lent to 3AC. I think/hope I can speak for a lot of people when I say I kinda just want this saga to be over, but the reality is I think it will go on for a very long time although there will be a certain point once after everyone has filed, it will be fully priced in and crypto starts to get desensitised to it.
NFTs - There continues to be very strong Yuga volumes although the floor priced continues to edge ever so slightly lower, after another >900E traded int he last 24H. Mcbess's Cel Mates ranks 2nd in the volume charts posting about 600E and moving about 25% higher after the original mint price. Elsewhere, we saw a large Fidenza sale to the tune of 295E, which once again shows the resilience of the art market and the concept of grails. Not much more to add beyond that in NFT world!
GL today
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