FTX Access

NOT INVESTMENT ADVICE!

[FTX Access @FTX_Access]

@FTX_Access provides regular market commentary, which is not informed by and does not represent the views of @FTX_official or @FTX_US. It is not investment advice. Feedback always welcome.

[FTX Access @FTX_Access]

ISM Prices Paid drop much more than expected

[FTX Access @FTX_Access]

Nasdaq breaks Fridays highs. Cash open quickly erased overnight weakness

[Trading Floor Audio @TradeFloorAudio]

👇👀👇
Ex NY Fed Pres Dudley Warns Wishful Thinking Won’t Help Fed Beat Inflation ... BBG

Investors have lately become optimistic that Fed
won’t have to tighten monetary policy much further

This wishful thinking is both unfounded & counterproductive.

https://t.co/dujRbSZIWS

[db @tier10k]

[DB] FC Barcelona Expands Partnership With Socios, Chilliz to Invest $100m in Barca Studios

[Carl Quintanilla @carlquintanilla]

FUNDSTRAT: The @ClevelandFed’s inflation forecast “now shows July CPI tracking to 0.27% .. This is .. 3.24% annualized .. the lowest rate since January 2021 .. a collapse from the 9%-12% annualized rates seen in all of 2022 ..” - @fundstrat

[FTX Access @FTX_Access]

These trend reversals are squeezing large system funds

They've had big performance years but can assume they are turning like oil tankers from shorts in commods, equities, bonds and long USDs

In a quiet summer market this flow is big and doesn't care about fundamentals

[FTX Access @FTX_Access]

These will be important with the loosening in US FCI (over 50bps in July) and the Kashkari comments on Friday

[Alex Krüger @krugermacro]

On the Fed speakers side, watch out for Bullard on TUE (1845 EST) and Mester on THU (1200 EST).

I don't expect anything major there. Expect them to repeat the Fed is not backing down on their fight against inflation, that inflation is priority #1, and the Fed is data dependent.

[FTX Access @FTX_Access]

USD index breaks last weeks low

USDJPY is leading, lower global yields takes pressure off the BOJ

[The Spectator Index @spectatorindex]

BREAKING: Press release by US House Speaker Pelosi lists she will visit Singapore, Malaysia, South Korea and Japan on upcoming trip, without mention of Taiwan.

[FTX Access @FTX_Access]

@FTX_Official @Brett_FTX Live footage

[Dune AnaIytics @DuneAnaIytics]

SPX closes:

April 29: 4131
May 29: 4158
July 29: 4130

Thanks for playing.

[FTX Access @FTX_Access]

Kashkari the first FOMC member to push back on market reaction. It shouldn't be surprising that they don't want financial conditions to ease

https://t.co/dBeLcOPAEU

[FTX Access @FTX_Access]

As we approach merge, starting to see more commentary on the technical execution questions

[Christine D. Kim @christine_dkim]

The more I listen to these dev calls, the more I realize how complex the Merge transition is and with that comes a seemingly never ending list of edge cases for what could go wrong, While those odds are slim, they can compound.

[FTX Access @FTX_Access]

Summers speaks out against Powells neutral rates level

https://t.co/4H1YTdq739

[FTX Access @FTX_Access]

Seems like people are underweight

[Alf @MacroAlf]

For context, this is the biggest two-days rally following a Fed hike since the 1970s.

[FTX Access @FTX_Access]

AMZN beat +10% ...AAPL to come

[Delphi Digital @Delphi_Digital]

Last week, along with @FTX_access, we hosted Crypto Town Hall: The State of Play. 🎮

With insights from @Jihoz_Axie, @gabusch, @abearschmitt, @PlayIsFree, @pierskicks, and @amytongwu you don't want to miss this!

The replay is now available. ⬇️

https://t.co/NeFtCJWjx9

[FTX Access @FTX_Access]

New range highs for Nasdaq

[FTX Access @FTX_Access]

U.S. STOCKS EXTEND FALL, NASDAQ DOWN 1.01 PCT

Markets having a hard timing making their mind up about the impact of bad data

With this level of Fed pricing it's harder for bad to be good. Unless you think Fed do less than 50/25/25

[FTX Access @FTX_Access]

Huge bond rally across the curve today

[FTX Access @FTX_Access]

10y yields testing the neckline of H+S pattern

After a brief drop equity market is resolving higher on GDP miss....impressive at this new level of Fed pricing