markets
One Bank Sees Bitcoin At $200,000, While Ether Hits $14,000 As It Becomes JPMorgan's Favorite Crypto
"A blockchain platform like Ethereum could potentially become a large market for vendors of trusted information, like Amazon is for consumer goods today"
...scraps YCC, ends ETF, J-REIT buying...
It sets up Tuesday for a head-spinning session... and there is still the Federal Reserve to come!
...higher oil >> higher inflation >> higher bond yields >> Fed higher for longer-er >> lower stock prices (at some point...)
...oil’s risk to inflation expectations, rates and the 'CRE wounded' super-regional banks is accelerating.
‘We must consider this danger due to the numerous reports of gangs committing jailbreaks in Haiti and releasing thousands of dangerous criminals.’
Exxon CEO Darren Woods isn't mincing words or actions as the broader market has finally started to turn its back on the 'ESG' fallacy.
...tactical risk/reward isn’t overly alluring...
Macron’s speech reads like a greatest hits of Realpolitik. Europe must do ”whatever it takes”. “If Russia wins this war, Europe’s credibility will be reduced to zero.” “If Ukraine were to fall, our security is threatened. And so, the time has come to resist.”
“This is not just a this-year problem. This has been a multiyear issue. It is going to take several years to really catch back up again.”
The CRE implosion is picking up steam...
"While they are all unrelated, I want you to know that these incidents have our attention and have sharpened our focus."
"China is one of the most important wildcards to track to understand the global economy, markets, geopolitics"
The key data on the economic calendar week are the Philly Fed and existing home sales reports on Thursday; but the main event will be the March FOMC meeting is on Wednesday, and the BOJ decision tonight.
...it’s not just a US phenomenon: globally there are signs that the disinflation trend is ending.
"The recent market repricing has put policy expectations essentially at Fed estimates. The decision will likely provide another signal that easing of economic conditions is coming, pushing equity markets higher."
"Greatness comes from character and character isn’t formed out of smart people – it’s formed out of people who suffered”