K 🌍

[K 🌍 @TheCMCToday]

@IncomeSharks Apparently!

[Holger Zschaepitz @Schuldensuehner]

Don't fight the Mag 7: The ratio of the Mag 7 vs the S&P 493 (S&P 500 ex Mag 7) has just hit another ATH.

[*Walter Bloomberg @DeItaone]

DRUCKENMILLER SAYS LONG TERM IS BULLISH ON AI

[*Walter Bloomberg @DeItaone]

FERRARI HALTED AFTER FALLING AS MUCH AS 5%

[*Walter Bloomberg @DeItaone]

❖ EISMAN: CRYPTO IS '75%' CORRELATED TO NASDAQ

[Holger Zschaepitz @Schuldensuehner]

It's the liquidity, stupid! Liquidity is the biggest driver of risk assets, particularly growth assets, crypto and tech. #Bitcoin trades more or less in lockstep w/US net liquidity.

[Chris Burniske @cburniske]

Have a tip for you anon — this time, it’s not different.

[Raoul Pal @RaoulGMI]

This is the 4th 20% correction in BTC in 12 months...pretty ordinary stuff.

[Holger Zschaepitz @Schuldensuehner]

OUCH! #Bitcoin tumbles <60k, faces worst month since FTX debacle. US Bitcoin ETFs have seen outflows of $182mln in April, 1st monthly outflows.

[*Walter Bloomberg @DeItaone]

❖ SEC SUED OVER ETHEREUM, CRYPTO FIRM ASKS COURT TO STATE TOKEN IS NOT A SECURITY

“The SEC’s unlawful seizure of authority over ETH would spell disaster for the Ethereum network, and for Consensys. Every holder of ETH, including Consensys, would fear violating the securities laws if he or she were to transfer ETH on the network,” the complaint states
https://t.co/l6WBV39qAn

[*Walter Bloomberg @DeItaone]

⚠️ YELLEN: WE WOULD BE PREPARED TO USE AUTHORITY TO SANCTION CHINESE BANKS IF NECESSARY

[Mohamed A. El-Erian @elerianm]

Per below, the whole US yield curve shifted up in reaction to the data (see prior post), including the 2-year which traded above 5% as markets pushed to December the expectation of the first rate cut by the #FederalReserve.
(Amazing to think that, just four months ago, #markets were looking for seven cuts starting last month. I don’t remember such a dramatic repricing of rate cuts in such a short period of time.)
#economy #bonds #econtwitter

[*Walter Bloomberg @DeItaone]

⚠️ FED SWAPS NO LONGER FULLY PRICE IN RATE CUT BEFORE DECEMBER

[The Spectator Index @spectatorindex]

BREAKING: US Senate has approved bill banning TikTok if owner ByteDance refuses to sell it

[FinancialJuice @financialjuice]

FITCH RATINGS: GLOBAL INTEREST RATE MOVES BECOMING MORE DIVERGENT.

[FinancialJuice @financialjuice]

THE ISRAELI ARMY RAISES ITS ALERT LEVEL AND CLOSES THE STREETS AND ROADS ADJACENT TO THE BORDER WITH LEBANON - AL JAZEERA CITING A REPORTER.

[FinancialJuice @financialjuice]

JPMORGAN CEO DIMON: EVEN IF WE GO INTO RECESSION, THE US CONSUMER IS IN GOOD SHAPE.

[Holger Zschaepitz @Schuldensuehner]

Good Morning from #Germany, which is against taking on more common EU debt. German Finance Minister Christian Lindner said that EU member states should take responsibility for their own finances. Lindner is trying to shut down discussion of another joint borrowing initiative as EU members look to finance the energy transition, the shift to a digital economy, and a revamp of their militaries to confront Russia’s threat to their eastern borders. Spanish EconMin Cuerpo said such a move (joint debt issuance) was a “no-brainer.” Spain's govt debt has more than quadrupled since the financial crisis. https://t.co/USUVArYVya