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Risk takers are not out dancing on the Wall Street this week before the Federal Reserve (Fed) President Powell’s semiannual congressional testimony scheduled for today and tomorrow. Equities are down, oil is down, sovereign bonds are up.
A strong housing market and tight jobs market will encourage Fed to hike more, and encourage other central banks to do more, as well. But not everyone is as lucky as Powell, because in Britain, the skyrocketing mortgage rates are turning into a serious headache that no one can solve for now. The 2-year gilt yield slid below 5% yesterday, as a result...

Asian stocks were moody, European indices traded lower, and US futures were under pressure on Monday. The rest of the week will likely prove to be challenging both in the US and elsewhere, as central bankers continue pressing economies like lemons, while signs of pain are just before their eyes, as average mortgage rates in the US are at the highest levels since the subprime crisis whereas mortgage rates in the UK are again above 6%. The last time we saw these levels was back during Liz Truss mini-budget crisis.
The UK 2-year yield spiked above 5% and has more...

The week kicks off on positive geopolitical vibes as the weekend talks between the US and China went well, and more senior level talks, including Xi Jinping are expected in the next few hours.
The S&P500 and Nasdaq both fell on Friday, but the S&P500 ended last week having gained 2.6%. It was the 5th straight week of gains for the S&P500, while Nasdaq closed the week 3.3% higher than where it had started. Both indices are now at the highest levels since last spring, and both are in overbought territory. Volatility continues fading, while any investors questions whether this...

It was mostly a good day for the global markets, except for Europe, which saw the European Central Bank (ECB) expectedly raise interest rates by 25bp, but unexpectedly raised inflation forecast, as well.
At the wake of the ECB meeting, the implied probability of a July hike jumped from 50% to 80%, sending the EURUSD rallying.
The US dollar sank below its 50-DMA, impacted by softening retail sales, rising jobless claims, slowing industrial production and perhaps by a broadly stronger euro following the ECB’s higher inflation forecasts, as well.
Elsewhere, rally in EURJPY gained momentum above the 150 mark, as...

The Federal Reserve (Fed) refrained from raising interest rates at this week’s monetary policy meeting.
Yet the median forecast on the Fed’s dot plot suggested that there could be two more rate hikes before the end of this year.
The US 2-year yield continues pushing higher, while enthusiasm at the long end of the yield curve is lesser, as higher rates increase recession odds. The S&P500 hit a fresh high since last year but closed almost flat. The US dollar rebounded off its 100-DMA, and the EURUSD rallied above its own 100-DMA and holds ground above the 1.08 mark this...

While the SEC case against crypto in the US continues on, we are discussing why Bitcoin and Ethereum might be safe and what Polygon is planning for the next step in terms of protocol

00:00 Intro
00:24 Preview
00:36 Crypto-News
03:02 Bitcoin
04:55 Ethereum
08:15 Polygon
10:13 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote

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US inflation data gave investors a good reason to cheer up yesterday. The headline number fell more than expected to 4%, and core inflation met analysts’ expectations at 5.3%.
The expectation of a no rate hike at today’s decision jumped past 90%, while the expectation of a no rate hike in July meeting rose from below 30% to above 35%. The S&P500 extended its advance to 4375, while Nasdaq 100 rallied past the 14900 level. Small companies followed suit, with Russell 2000 jumping to the highest levels since the mini banking crisis.
The Fed’s decision for today is considered as...

The S&P500 surpassed last summer peak level and recovered to the highest levels since April 2022 on hope that… we could see a sufficiently soft inflation data from the US, which could chase the hawkish Federal Reserve (Fed) clouds away and clear the sky for a Fed pause.
The US inflation data is due today, as the Fed begins its two-day policy meeting. Expectations are rather soft – which make them harder to beat.
While equity traders seem optimistic about the end of the Fed tightening, bond traders are more skeptical. The US 2-year yield remains on a positive trajectory....

Sentiment is cautiously bullish into the next US CPI figure, due tomorrow, and the next FOMC decision due Wednesday.
Investors are flocking into call options because no one wants to miss a further rally in stock markets, but no one is sure that the rally will continue given the fact that the Fed has hiked rates at a record speed since last year, leading to the failure of a couple of US regional banks on the way.
Across the Atlantic Ocean, the European Central Bank (ECB) is expected to hike its interest rates by 25bp when it meets on Thursday,...

The faster than expected jump in US initial jobless claims threw some cold water on the heated hawkish Federal Reserve (Fed) pricing yesterday.
The S&P500 flirted with the 4300 mark, again, and the index is up by more than 20% since the last October dip, meaning that the S&P500 stocks stepped into the bull market regardless of the tightening Fed, rising yields, and the inverted yield curve.
The US dollar fell yesterday, as the jump in US initial jobless claims scaled the hawkish Fed expectations slightly back after two shock rate hikes from the Reserve Bank of Australia (RBA) and...