This week, mixed company results from Big Tech, while risk assets rise.
The Macro Front
Wednesday’s early market performance is a turn from the past three days of the major indexes rising.
Worth noting: conditions for a trough in US equities are not visible yet as the asset class doesn’t fully reflect the latest rise in real yields and odds of a recession, according to analysts at Goldman Sachs. In case of a severe economic downturn, Wall Street expects the S&P 500 Index to drop to 2,888, implying 25% fall from Tuesday’s close.
Company Earnings
Rates took a breather today as the 10-year currently sits at 4.048%, down from 4.226% at the beginning of Tuesday’s trading.
The Crypto Front
Crypto assets are performing particularly well, with Ethereum leading the way. This driven primarily from a rally across risk-sensitive assets creating short squeeze dynamics.
A closer look at ETH
ICYMI
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