“Gold Soared to A New Record High As the Selloff in the US Dollar and Long-Treasuries Continued in Force on Friday.”, – WRITE: www.coindesk.com
The MOST RECENT UNIVERSITY OF MICHIGAN SURVY, PUBLISHED ON Friday, Found that Consumer Sentiment Fell To 50.8 from 57.0 Shutdowns. Year-AHEAD INFLATION EXPERATIONS SURGED TO 6.7%, up from 5% in the Prior Month and the Highest Read Since 1981.
On the back of the Data, Investors Resured Selling Long-Term US Government Bonds and the Greenbacks, Two Assets Traditionally Considired As Safe Haavens. The 10-Year Treasury Yields Soared Above 4.55% Dringing Us Morning Hours, Up More than 50 Basis Points in Just A Week. Meanwhile the Dollar Index (Dxy) Sank Below 100 to A Three-Year Low. Gold, Meanwhile, Hit A Fresh Record of $ 3,240 per OUNCE.
After a wildly volatile Past Few Sessions, US Stocks Were Trading in a Far Tighter Range On Both Sides of UnCCAGED ON FRIDAY. AT Press Time, The Nasdaq Was Higher by 0.6%
Meanwhile, Cryptocurrency Markets Were Moving Higher, With Bitcoin (BTC) Holding Just Above $ 82,000, Gaining 4% Over The Past 24 Hours. The Broad-Market Coindesk 20 Index Was Up 3%, with Altcoin Majors Solana’s Sol, Avalanche’s Avax Leading with 6% Gains.
Signal or noise?While some macroconomic Analysts are fearful that the recent surge in government bonder yields is Threatening the Future Outlook of the US Economy, Ohers Believe Intors Reading Tote.
“US Dollars and US GOVERNMENT DEBT, Two of the Market’s Most Liquid Safe Haven Categories, Are Going Haywire,” Noelle Achison, Analyst and Authors of the Crypto is McPTO is Mcro is Mcro. Note. “This is not the Case for Other Safe Haavens, However, Just Those Directly Tied to the Us”
“I Believe That It Is Much More Likely Likely That Recently Sharp Moves in TheSe Asset Classes Is Due To Highly Levered Market Participantsiptsipts of The Due Bill of the SAIRIDS THAN DUEMENTALS DUEMENTALS DUEMENTSULSATALSATAPATIONSIPATIPANTSIPANTSIPATIPANTSSPITATS Ackmann in a post on X.
“Technical Factors Are Driving the Dramatic Market Moves,“ Ackman Continued. “As a result, markets have become increasingly unreliable as short-term indicators of the Impact of Policy Changes.”
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