Horrible US housing data and anecdotally awful manufacturing signals from Texas were the only macro of note as the world awaits an avalanche of FedSpeak and the latest core PCE print later in the week.
Rate-cut expectations continue to slide (June is now a 50-50 for the start and 2024 now pricing in only 3 cuts)...
The big overnight move was in Bitcoin which soared up above USD$54,500 today, the highest since early Dec 2021...
Source: Coinglass
As inflows keeping on flowing into the number one crypto.
Meanwhile, Mag7 stocks continued to limp lower after NVDA's exuberance last week...
Finally, NVDA was only able to add a de minimum 0.6% today, losing momentum three times intraday and completing an inside day (lower high and higher low)...
Source: Bloomberg
It does make you wonder, eh?
Source: Bloomberg
Relax! At least we have Bitcoin...
AI Generated
Happy Tuesday!
Sign up for the Andika Bulletin
Find freedom. Create wealth. Build a better life with the Andika Bulletin and Confidential Daily.
No spam. Unsubscribe anytime.
This information contains unsolicited general information only, without regard to any individual’s investment objectives, financial situation or needs. It is not specific advice for any particular investor or trader. Investment in the stock market involves risk.
This information may not take into account your investment objectives or financial situation, and you should obtain advice based on your own individual circumstances before making an investment decision.
This information is made available to you by ANDIKA Pty Ltd ABN 41 117 403 326, a licensed securities and derivatives dealer (AFSL # 297069).
Andy is the founder of ANDIKA Pty Ltd, a licensed securities & derivatives dealer. He's the author of fiction and non-fiction books and has been a University lecturer on risk and investment.
