The market has likely moved past the narrative that a pro-crypto President is beneficial for the industry, with macro correlations now driving the market.
Anthony Scaramucci, famous for being fired by the Trump White House after 11 days, rewrote part of his book after Bitcoin investor Michael Saylor called him from a yacht
Saylor, executive chairman of Bitcoin treasury company Strategy, reminds him of it every time they meet, Scaramucci said.
Sumitomo Mitsui Markets Head Sees BOJ Rate at 30-Year High
(Bloomberg) -- The veteran head of markets at one of Japan’s largest banks sees the potential for the central bank to raise benchmark interest rates to a three-decade high of 2% if economic trends persist. Most Read from BloombergNYC Congestion Pricing Toll Gains Support Among City ResidentsTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionWhere New York City's Zoning Reform Will Add HousingOpen Philanthropy Launches $120 Million Fund To Sup
Poland to Keep Interest Rates Steady as Economy Rebounds
(Bloomberg) -- Improving economic prospects and persistent inflation are likely to prompt Poland’s central bank to keep the country’s interest rates unchanged for yet another month. Most Read from BloombergNYC Congestion Pricing Toll Gains Support Among City ResidentsTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionWhere New York City's Zoning Reform Will Add HousingOpen Philanthropy Launches $120 Million Fund To Support YIMBY ReformsThe Mo
China’s Retail Investors Pile Into New Funds as Stocks Rally
(Bloomberg) -- The excitement over China’s technology development that pushed the nation’s stocks to outshine their global peers has attracted a substantial inflow of money from retail investors at home.Most Read from BloombergNYC Congestion Pricing Toll Gains Support Among City ResidentsTrump DEI Purge Hits Affordable Housing GroupsElectric Construction Equipment Promises a Quiet RevolutionWhere New York City's Zoning Reform Will Add HousingOpen Philanthropy Launches $120 Million Fund To Suppor
Betting markets see rising odds Elon Musk leaves the White House this year as Tesla stock struggles
On Polymarket, the probability that Musk will leave the administration by the end of the year spiked as high as 48% on Monday, the day Tesla shares plummeted.
Another wild day on Wall Street: Stocks whipsaw on Trump's latest tariff threats
The pain continued for investors on Tuesday, with the Dow falling as much as 700 points after Trump threatened fresh tariffs on Canadian metal imports.
Euro buoyed by Ukraine ceasefire proposal, tariffs squeeze stocks
The euro was riding near five-month highs on Wednesday on Ukraine's readiness to accept a month-long ceasefire, while stocks whipsawed on back-and-forth U.S. tariff plans as levies on steel and aluminium imports kicked in. European equity futures jumped 1.1% and FTSE futures rose 0.5% on news the U.S. would restore military aid and intelligence sharing to Ukraine after Kyiv agreed to accept a U.S. ceasefire proposal. Russian Foreign Minister Sergei Lavrov said in an interview published on Wednesday, speaking in the context of a possible Ukraine peace deal, that Moscow will avoid compromises that would jeopardise people's lives, Russian agencies reported.
Dollar strengthens against peers as markets digest inflation data, trade tensions
The U.S. dollar strengthened against major currencies including the yen and the Swiss franc on Wednesday as data showed a slowdown in inflation although global trade tensions suggest that concerns about consumer prices and the economy will continue to weigh on markets. That report comes on the back of a trade brinkmanship between the U.S. and its trading partners, marked by President Donald Trump's unpredictable announcements on tariffs. In the latest episode, the European Union announced on Wednesday that it will impose counter tariffs on 26 billion euros ($28.39 billion) worth of U.S. goods from April, in response to blanket U.S. tariffs on steel and aluminium that came into force earlier in the day.
Oil up 2% on tighter U.S. supplies but tariff concerns loom
NEW YORK (Reuters) -Oil prices rose 2% on Wednesday, as U.S. government data showed tighter oil and fuel inventories than expected, though investors kept an eye on mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth. Brent futures rose $1.33, or 1.9%, to $70.89 a barrel at 10:55 a.m. EDT (1455 GMT), while U.S. West Texas Intermediate crude futures gained $1.45, or 2.2%, to $67.70 a barrel. "This evidences stronger demand and could see oil prices rise as a result."