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The US dollar gained, and the euro fell yesterday, after data from the Eurozone countries showed a faster-than-expected easing in inflation, while the job openings data from the US hinted, yet again, at further resilience in the US jobs market.
As a result of softer European inflation and stronger US job openings data, the EURUSD fell as low as 1.0635 yesterday, and the yield spread between the German and US 10-year bonds fell to the lowest levels since the end of February. Softer euro weighs on European stocks.
On the political front, the US House cleared the debt limit bill...

The US 2-year yield fell sharply, while the S&P500 ended flat after hitting a fresh high since last summer on optimism that the US will finally agree to raise the debt ceiling.
The House will vote today to decide whether the debt limit bill gets approved at time to get a Senate approval by next Monday deadline.
But the problem is that at least 20 conservative Republicans of the House rejected Kevin McCarthy’s compromise on debt ceiling, saying that spending cuts are not enough.
Any misstep at today’s House vote could send the US yields higher and stocks lower.
So...

The holiday shortened trading week starts tense but on an optimistic note as US President Joe Biden and House Speaker Kevin McCarthy finally reached an agreement to raise the debt ceiling. The deal must get approval in a congressional vote on Wednesday.
Presently, it feels like investors are confident that the US debt ceiling will be raised. The kneejerk reaction to a debt ceiling deal will be positive but gains could remain short-lived.
The latest economic data suggested last Friday that US inflation didn’t ease as much as analysts expected in April
The data boosted odds that the Fed would...

Nvidia’s impressive Q1 results and the $11bn revenue forecast for the second quarter blew investors’ minds away.
Major US stock indices gained yesterday. The S&P500 added 0.88%, while Nasdaq 100 jumped almost 2.50%, thanks to a 24% rally in Nvidia which rocketed to a fresh-all-time high of almost $395 a share. Nvidia’s PE spiked near 220. Is this a bubble?
While the technology stocks were euphoric yesterday, the rest of the sectors were much less appetizing. US debt ceiling talks continued, there was again some optimism on the headlines, but no deal has been reached and the clock is ticking...

US stocks and bonds fell on Wednesday as the US politicians still didn’t seal a deal to raise the debt ceiling and the Federal Reserve (Fed) minutes showed dissatisfaction with the speed at which inflation slows.
And now Fitch threatens to cut the US’ AAA rating as the political theatre has real-life implications for the economy, and for investors. JPM now sees the US default risk at 25% - whatever default means for them.
US T-bills maturing on June 6th are now yielding above 6.5% while those maturing by the end of the month are yielding just around 3%.
The...

Litecon is looking a lot like Bitcoin before the halving...could this be the potential run up before the bullrun?

00:00 Intro
00:21 Preview
00:33 Bitcoin
03:44 Ethereum
06:20 Litecoin
09:47 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote

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Debt ceiling talks in the US led to some progress, but no deal was reached yesterday.
And even though there is a strong belief that the US politicians are not foolish to trigger a self-induced economic crisis and that they will reach a deal just before time, appetite in risk assets looks weakened. The US 2-year yield spiked to 4.40%, while gold struggled to gather positive momentum, as the US dollar is where investors seek refuge – as absurd as it sounds.
But crude oil performed well on Tuesday despite the US det ceiling shenanigans, as the Saudi Prince Abdulaziz...

Yesterday was just another day with the same topics. The US debt ceiling talks continued; US President Joe Biden expressed optimism about reaching a deal. US Treasury Secretary Janet Yellen said that the Treasury will soon be running out of money and won’t be able to service its debt.
The US 2-year yield pushed higher to above 4.30%, the S&P500 was little changed near levels last seen last summer, while Nasdaq 100 advanced to levels above last summer peaks, and is now trading at the highest levels since April 2021.
Interestingly however, gold doesn’t see much demand despite the looming...

The European stocks were up and the S&P500 hit a fresh high since summer, until Garret Graves, who was negotiating for the Republicans abruptly walked out, calling the White House ‘unreasonable’ and declaring that the discussions are on a pause.
Equities sold off and yields rose.
Happily, US President Joe Biden and House Speaker Kevin McCarthy had a ‘productive’ call Sunday and agreed to resume talks today, to avoid what could be a very damaging US default.
The market mood is sweeter this Monday on news that the US politicians will at least resume talks after Friday’s crisis. They will...

Most European markets were closed yesterday due to bank holiday, but debt ceiling discussions in the US continued at their full speed, and led to some further optimism about a potential deal that could be reached by next week.
While an agreement on debt ceiling is highly likely, what concessions will be made on spending is more important moving forward.
Elsewhere, US retail giants announced earnings to help investors get a better sense on where the US consumer spending winds are blowing. The latest GDP data had revealed a surprisingly resilient consumer spending – which makes up around two thirds...