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America had another ‘bad news is good news’ moment yesterday; softer-than-expected ADP and growth data further fueled expectations that the Federal Reserve (Fed) is – maybe – good for a pause.
The S&P500 gained for the 4th consecutive session yesterday, as US 2-year yield settles below the 5% level on expectation that the Fed has no reason to push hard to hike rates; it could just wait and see the impact of its latest (and aggressive) tightening campaign.
In the FX, the softening Fed expectations are weighing on the US dollar, but keep in mind that the seasonality is on...

Yesterday was a typical ‘bad news is good news’ day. Risk sentiment in the US and across the globe was boosted by an unexpected dip in US job openings to below 9 mio jobs in July, the lowest levels since more than two years, and an unexpected fall in consumer confidence in August.
Today, all eyes are on the US ADP report and the latest GDP update. The ADP report is expected to reveal below 200K new private job additions in August, while the US growth is expected to be revised from 2% to 2.4% for the Q2 with core...

The week started in a relatively good mood. The S&P500 posted its first back-to-back gains this month, even though the US 2-year yield advanced to a fresh high since July with the 2 and 5-year treasury auctions hitting the highest yields since before the 2008 crisis. One would think that the Chinese stimulus measures have lifted up the sentiment across global equities, but the CSI 300 closed yesterday just around 1% higher. As such, yesterday was just another day the Chinese stimulus measures didn’t get the attention Chinese officials were hoping for.
Elsewhere, the softer US dollar gave some breathing...

The Federal Reserve (Fed) Chair Jerome Powell’s Jackson Hole speech was predictably cautious regarding inflation and interest rate policy. Short-term yields pushed higher, but major US indices closed the session, and the week higher.
This week will be busy with some important economic data from the US and beyond. Investors will focus on US growth and jobs data, and euro-area’s CPI estimate.
In China, the week started upbeat after the government announced measures to boost appetite for Chinese equities. Beijing halved the stamp duty on stock trades, while Hong Kong said it plans a task force to boost liquidity. The...

BRICS – which includes the world’s major energy-hungry nations like China and India, invited five countries - which happen to be the world’s top oil producers Saudi Araba, Iran, UAE, Egypt and Argentina - to join the bloc. This is an important step towards weakening the petro-dollar, though there are some important geopolitical barriers before BRICS becomes a solidly united union to challenge the Western dominance.
In the markets, those who expected the US dollar to tumble because BRICS are enlarging their alliance with top oil producers were disappointed yesterday. The US dollar extended gains to the strongest levels since...

Nvidia announced STUNNING results when it released its Q2 earnings yesterday after the bell. The company reported $13.5bn sales last quarter and said that it expects $16bn sales for next quarter, up from $12.6bn forecast last quarter. Earnings jumped to $2.70 per share, versus $2.09 expected by analysts, and the most-loved chipmaker of the year approved $25bn in share buybacks. Shares rallied 10% in the afterhours.
Elsewhere, the morose PMI data from Europe and the US pushed yields lower yesterday and kept US crude below the $80pb level, even though the US inventories dived more than 6 mio barrels for...

The market mood turned sour again, and the S&P500 fell after a short relief. S&P’s bank rating downgrades weighed on bank stocks.
Elsewhere, the rising rates and declining purchasing power finally start showing in some retailers’ quarterly announcements. Macy’s for example sank 14% yesterday as Dick’s Sporting Goods slumped more than 24% on ‘elevated inventory shrink – in particular theft. Both companies gave a morose outlook for consumer demand moving forward.
The US 2-year yield pushes higher above the 5% mark, while the 10-year yield struggles near 4.30%, where it sees decent resistance, as Chinese efforts to prop up the...

Is an Ethereum ETF coming before the Bitcoin ETF? Only in the futures version! This week we'll dive into the details and discuss the potential.

00:00 Intro
00:24 Preview
00:34 Bitcoin
04:22 Ethereum
06:02 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote
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The week starts with weak appetite as Chinese banks cut loan rates less than expected; the 1-year LPR was cut by 10bp to a record low versus 15bp cut expected by analysts, while the 5-year LPR was left unchanged despite pressure from Beijing. Chinese banks’ decision to keep the 5-year rate steady is confusing for investors, in the middle of a property crisis. The Hang Seng index sank further into bear market, and the global risk sentiment is less than ideal as healthy economic data from the US, and darker clouds over China cast shadow on both stock and bond...