Markets may be underestimating the divergence happening beneath the surface. The macro thesis:
• Consumer sentiment is near record lows despite stocks hitting new highs
• The top 10% of Americans now drive ~50% of all consumer spending
• Asset owners continue benefiting from inflation and rising markets
• Bottom-tier consumers are being squeezed by higher costs and stagnant purchasing power
• Historically, extremely low sentiment has been a strong contrarian bullish signal for equities
The economy may be splitting into two realities:
one driven by assets and capital appreciation, the other pressured by inflation and declining affordability.
Source: @APompliano
Yesterday at @valorcapgroup's Onchain Finance event, the conversation focused on a key piece of onchain finance: standardization.
@gaborgurbacs joined representatives from @Kaleido_io, @OpenZeppelin, @Mysten_Labs, and @lfdecentralized, exploring how shared standards can support institutional adoption.
The conversation continues today with more panels and perspectives from across the ecosystem.
OpenAssets is in São Paulo for Onchain Finance 2026, hosted by @valorcapgroup, on connecting traditional finance and the onchain economy.
@gaborgurbacs is joining as a speaker, with the team on the ground, alongside leading banks including @itau, Safra, BTG Pactual and others shaping onchain finance.
This is exactly the conversation institutional tokenization has to move forward.
🏠 U.S. Housing Market Is Finally Cooling
• Median home prices surged from $329K to $443K between 2020 and 2022
• Pandemic-era demand, low supply, and investor buying fueled the boom
• Higher mortgage rates and rising inventory are now shifting leverage back to buyers
• In Q1 2026, home prices fell in 39 of the 129 largest U.S. cities
• More homes on the market are forcing sellers to cut prices in many regions
After years of relentless price growth, the housing market is showing signs of normalization as affordability pressures reduce buyer competition.
Source: @STLFedResearch
In a new MFWire column, @gaborgurbacs draws the parallel to ETFs: the firms that engaged early defined how distribution worked.
Tokenization is at that same point now. RWA assets under management are still under $1 trillion, the standards are being written, and the firms participating early get a seat at the table shaping what comes next.
Read the full piece ↓
https://t.co/ZS7QvMRQCN
Markets may be underestimating the divergence happening beneath the surface. The macro thesis:
• Consumer sentiment is near record lows despite stocks hitting new highs
• The top 10% of Americans now drive ~50% of all consumer spending
• Asset owners continue benefiting from inflation and rising markets
• Bottom-tier consumers are being squeezed by higher costs and stagnant purchasing power
• Historically, extremely low sentiment has been a strong contrarian bullish signal for equities
The economy may be splitting into two realities:
one driven by assets and capital appreciation, the other pressured by inflation and declining affordability.
Source: @APompliano
Implementation is exactly where standards, compliance, and settlement infrastructure prove their value.
And where institutional tokenization becomes real.