@spotgamma Completely irrelevant. They froze sanctioned stablecoin addresses with the help of Tether, which happens all the time. Stablecoins are centralized.
@Citrini7 How is that your takeaway? First, there are many, more accurate indicators to gauge positioning as you're well aware. Second, they weren't 'upset', to the contrary they saw it compelling enough to warrant a response
The Dollar yesterday fell back to its recent lows against EM, even though core PCE inflation came in hot and the SCOTUS decision should have lifted it. Regime change for USD is upon us. Things that ordinarily lift the Dollar no longer do so. This is big.
https://t.co/uBFVE9G5tn
RATE CUT ODDS RISE: Two cuts are now baked in fully to Fed funds futures for this year, in the wake of Kevin Warsh being tapped to lead the Fed. The yield curve, the spread between the 2-year and 10-year, has steepened by another 3 basis points heading into the nomination.
Just wanted to highlight this again:
In my opinion, it is a misperception to assess Warsh as a hawk compared to his competitors, Rick Rieder and Chris Waller. Warsh is very close to the Trump family, and I think the reason he is getting the nod is that Trump wants someone he is sufficiently close to so that he can actually “control the narrative.” Warsh may end up being more dovish than the other candidates accordingly; he has proven to be willing to show flexibility around his own views, to say the least.
@jvb_xyz They say it is public, it’s not. They say it’s permissionless, nope. They say there was no premine while the Insti’s got block rewards for 18months before listing.
@jvb_xyz Which means there is no demand for the coin. This in addition to not having governance rights and not being able to stake. Worst type of scam I’ve seen in tradfi.
Rieder would be positive for all assets, but dollar negative. More importantly, he sees that rates have a limited impact on the economy, can actually be stimulative, and acknowledges the links with fiscal. He is a good pick for a fiscal dominant regime.
https://t.co/qHdtYBO98H