Daily Crypto Analysis

Morning‌‌ ‌‌Update—Macro and Crypto Markets—May 13th

May 13, 2021

This morning won’t feel great to holders of risk assets.

Morning‌‌ ‌‌Update—Macro and Crypto Markets—May 12th

May 12, 2021

With commodities prices rising—essentially shortages in raw materials and semiconductors—the idea that production might slow down, that inflation might pick up, and that recovery might not be as smooth as we had hoped for, is weighing on investors' minds. The Dow gapped down almost 1.5%, and the S&P and Nasdaq also fell. Yields, on the other hand, are picking up.

Morning‌‌ ‌‌Update—Macro and Crypto Markets—May 11th

May 11, 2021

From time to time, we mention commodities, but these days, they are the highlight. With rising prices in copper, iron, crude, and lumber, the idea that inflation is coming pervaded the minds of investors. Bonds were sold, pushing the 10-year yield back above 1.6% and, as we’ve seen happen before, tech stocks suffered most. The Nasdaq fell almost 2.5% and the S&P lost over 1%.

Morning‌‌ ‌‌Update—Macro and Crypto Markets—May 10th

May 10, 2021

Despite truly disappointing jobs numbers on Friday, markets ended on an upbeat note. The S&P rose to fresh new highs, above $4,230. The Dow hit records too, at $34,777. Tech stocks are a distance away from all-time highs but up on the session. Interestingly, gold is also marching on and up, now at around $1,835.

Morning‌‌ ‌‌Update—Macro and Crypto Markets—May 6th

May 6, 2021

Today we saw interesting market dynamics. With positive earnings and positive expectations, along with good job numbers, the real economy seems to do better than tech stocks. The Dow rose and remains at record levels while the Nasdaq continues to retreat. While that’s happening, rates are actually going down (with bonds being bought), after Yellen clarified some of yesterday’s comments.

Morning‌‌ ‌‌Update—Macro and Crypto Markets—May 7th

May 6, 2021

Yesterday, an appetite for risk took over investors. Equities were bought ‘en masse’, pushing the Dow to record highs of $34,560 while both the S&P and Nasdaq rose. Bonds on the other hand were sold, with the 10-year yield now at 1.56%. Gold broke through to $1,815, after a 1.6% gain. In the crypto space, while BTC almost seems to be stagnating in the 59-53K range, most coins are up on the session.

Morning‌‌ ‌‌Update—Macro and Crypto Markets—May 5th

May 5, 2021

If you invest in the stock market, then you always look at interest rates: They guide risk appetite in a very real way. After Treasury Secretary Yellen commented that rates might have to rise somewhat to keep the economy from overheating, a general risk-off tilt took over Wall Street. While indexes fell, they eventually closed back at ‘OK’ levels.

Morning‌‌ ‌‌Update—Macro and Crypto Markets—May 4th

May 4, 2021

Markets moved up slightly, but not on positive news—rather on the Fed announcing that economic recovery still looked patchy. This pushed the 10-year yield down, which ultimately is a positive for equities. The S&P and the Dow edged up, while the tech-heavy Nasdaq fell.

Morning‌‌ ‌‌Update—Macro and Crypto Markets—May 3rd

May 3, 2021

Last week finished on a risk-off tilt, with equity indexes falling. Despite positive earnings and positive expectations, covid cases rising, political moves in the US and tensions in Asia dampened investors’ spirit.

Morning‌‌ ‌‌Update—Macro and Crypto Markets—April 30th

April 30, 2021

The S&P reached new highs, closing the session above $4,200. The Nasdaq also rose to record levels but ended up closing a bit down. The Dow is still below all-time high but decidedly up. Investors are feeling bolstered by positive earnings and positive expectations by tech companies and lower unemployment numbers. While that’s happening the USD is edging down and gold is staying flat.

Morning‌‌ ‌‌Update—Macro and Crypto Markets—April 29th

April 29, 2021

The S&P reached new record highs yesterday, but then retracted and ended the session down. The Nasdaq fell straight away. We’re seeing indexes fall alongside the dollar, surprisingly. Maybe that has something to do with Biden’s new welfare and tax plan. It’s worth noting that, despite vaccinations, Covid cases continue to hit new records.

Morning‌‌ ‌‌Update—Macro and Crypto Markets—April 28th

April 28, 2021

With the dollar gaining against its peers, we saw quite a lot of selling taking place during the US session. Bonds fell, with the 10-year rising closer to 1.6%, and equity indexes pulling back slightly, mostly dragged by tech stocks.