David Ang

Equities | Web3 | Macroeconomy. And memes in between.
Not financial advice, DYOR.

[David Ang @danggaku]

Bitcoin $BTC finally broke the $100k level. Just like that.

Congrats to all the hodlers :)

[David Ang @danggaku]

I don't like going into earning season on high expectations and all-time high market.

There's a good chance CapEx will stay elevated due to AI-related investments. Not sure how the market will react to this.

The blockbuster earning week is here.

[David Ang @danggaku]

As expected, the Federal Reserve officially cut the interest rate by 0.5%. 🙌

[Watcher.Guru @WatcherGuru]

BREAKING: 🇺🇸 Federal Reserve cuts interest rates by 50bps for the first time in 4 years.

[David Ang @danggaku]

Very excited about the rate cut later today.

Spent the past year adjusting my positions in anticipation of this pivot.

High interest rates had allowed me to add positions into REITs after eyeing them for years. 🙏

#FOMC

[David Ang @danggaku]

What? Did the market just force Bank of Japan to capitulate? 😅

BoJ can never raise rates in a meaningful way without upsetting the market.

The huge carry trade and leverage will, unfortunately, need to unwind..

[zerohedge @zerohedge]

Time of capitulation: 10:36AM

*BOJ'S UCHIDA: WON'T RAISE RATE WHEN MARKET IS UNSTABLE

[David Ang @danggaku]

Bank of Japan raised rate.
JPY strengthen, carry trade unwinding.

Also, Iran may be planning an attack on Israel soon.

Asian stock market crashing.
US futures in deep red.
Crypto crashing.

All stars lining up.

The time to buy is when there's blood in the streets. 😉

[David Ang @danggaku]

At this rate, any insolvency will become solvent.

Stablecoin is such a great business model, especially in this high interest rate environment.

[Tether @tether]

Tether Releases Q2 2024 Attestation: Reports Record-Breaking $5.2 Billion Profit In First Half Of 2024, Highest Treasury Bill Ownership Ever and Largest Ever Group Consolidated Equity At Almost $12 Billion

https://t.co/G4pt0xp2bh

[David Ang @danggaku]

Spot ETH ETF will launch today in the United States.

This is another landmark milestone to the crypto industry. 🙌

So, will other digital assets follow suit after the spot BTC and ETH ETFs?

[David Ang @danggaku]

92.7% probability of rate cut this September. 😇

[David Ang @danggaku]

The cool US CPI reading caused a rotation from tech stocks to the more rate-sensitive stocks such as REITs.

But how come Singapore REITs have already rallied hard earlier today, several hours prior to the CPI release?

Did they know? 🤔

[David Ang @danggaku]

Coincidentally, the presidential election is coming up later this year, just the right timing for the inflation to moderate 😌

[David Ang @danggaku]

US CPI came in lower than expected at 3.0% YoY (vs. 3.1% expected). Or -0.1% MoM 🎉

Core CPI at 3.3% YoY (vs. 3.4% expected)

Seems inflation is heading in the right direction.

So, what would Powell do?

[David Ang @danggaku]

It's a gift. Dip is for buying 😌

[David Ang @danggaku]

SEC's spot $ETH ETF approval implicitly means $ETH is not considered a security, right?

So, other similar PoS tokens are also not considered a security, right?

[David Ang @danggaku]

US SEC approved exchange applications to list spot $ETH ETFs 🥲

The individual $ETH ETF issuer approval is yet to be done, but likely coming in the weeks/months ahead.

We prematurely expected institutional adoption last cycle. This time, it seems to be happening. Exciting time.

[db @tier10k]

CONFIRMED: SEC APPROVES LISTING OF SPOT ETH ETF'S

Source: DB | Coins: ETH

[David Ang @danggaku]

From $META earning call: capex will continue to increase next year as they invest aggressively for their AI initiatives.

Just like from $TSLA earning call, again, the AI demand hype seems to be real, as companies plan to scale up their AI capex.

In a gold rush, sell shovels.

[David Ang @danggaku]

Visa $V just reported earning, and it is good.

We like to observe Visa earning result to see the overall consumer spending sentiment.

So far, consumers continue to spend like in a normal economy.

Almost forgot that we are still waiting for the recession, right?

[App Economy Insights @EconomyApp]

$V Visa Q2 FY24 (ending in March):

��� Revenue +10% Y/Y to $8.8B ($0.2B beat).
• Operating margin 61% (-6pp Y/Y).
• Non-GAAP EPS $2.51 ($0.08 beat).

Fx neutral:
• Payment volume +8% Y/Y.
• Cross-border volume +16% Y/Y.
• Processed transactions +11% Y/Y.

[David Ang @danggaku]

From the $TSLA earning call, Elon said that they want to >2x their AI training capacity by the end of this year.

The AI hype demand is real. Companies with AI focus still continue to increase their capacity.

In a gold rush, it's good for the companies selling the shovels.

[David Ang @danggaku]

Roller coaster ride this week starting today after the closing bell with $TSLA.

We also have $META $MSFT $GOOG reporting earnings later this week. Expectation is high with the recent AI hype.

Fasten your seatbelt, lads. Expect volatility.

[David Ang @danggaku]

Halving dips? Sign me up.

Steady lads.