The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
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MACRO - A benign day yesterday saw equities close pretty much unchanged, while interest rates continued to edge a touch lower with 10Y getting back down to 393bps - a decent bit of interest rate vol in the past few days. Futures are a tiny amount higher this morning and I think it's encouraging to see that Friday's rally has held and even pushed on a bit for the most part. Of course, we all wait with baited breath for Friday's payrolls number which now looks like consensus is 200k (a bit more "expected" compared to the negative number I was seeing yesterday). It's gonna be interesting to see how it plays out, things are definitely a bit on edge there.
CRYPTO - BTC at 22.4K and ETH at 1565 which so far have held relatively steady. Altcoins look a bit grim and have dropped another 5-7% across the board. A notable down mover has been $BLUR which is now all the way back to 67c, pretty much where it was on the first day it dropped and more than 50% off the highs. It's interesting from this point on to see if it can get a second wind or not, because I do think it will define how much people really want to farm $BLUR and whether that ends up being a profitable endeavour or not the second time round (indeed, the circulating supply of $BLUR also increases after the second drop).
NFTs - We saw $75m of marketplace volumes once again yesterday with Blur's market share actually now dropping to 59%. It seems to me like this is rather correlated with the $BLUR token price and how that performs should be somewhat of a bellwether for the NFT market for now given how much correlation there is there on many levels. In terms of price action, it looks like things are mostly another 3-5% lower but there are some chunky down moves in Owls, MG Land and Momogurio which are all down 35-45% yikes. It really is a game of new meta + hot potato on a lot of this shit and you have to be about your wits.
GL today!