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Market Commentary

Is This the Inflection Point?

The biggest news by far this week was the Fed’s decision to hike 75bps. This is lower than the potential knee jerk reaction to CPI we described in last week’s note, but markets still weren’t that happy about it.

September 26, 2022
2
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Market Commentary

How Big of a Deal Is 8.3%?

all eyes were on the CPI and CPI delivered. Markets everywhere were sold: stocks, bonds, gold, crypto, and even FX. Rate markets showed a nearly 50% probability of a 100 bps hike during the next FOMC meeting next week.

September 19, 2022
2
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Cryptocurrency

The Future Starts Now | The Ethereum Merge Demystified | Part 3

Over the last few weeks we’ve been talking about the Ethereum Merge, and its implications are going to be big, with huge opportunities for investors, builders, and everyone else in the web3 space.

September 12, 2022
4
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Market Commentary

Is China Finally Slowing Down?

The significant divergence between major economies continues. There is a lot of action this week, but mainly from Europe and China.

September 12, 2022
3
m
Cryptocurrency

Shift Happens… | The Ethereum Merge Demystified | Part 2

A major shift in central bank monetary policy is coming. It’s called the Ethereum Merge, and its implications are going to be big, with huge opportunities for investors, builders, and everyone else in the web3 space.

September 9, 2022
2
m
Cryptocurrency

It’s Coming! | The Ethereum Merge Demystified | Part 1

In the next few weeks, the Ethereum blockchain will undergo a change as significant as a major shift in central bank monetary policy. It’s called the Ethereum Merge.

September 7, 2022
6
m
Cryptocurrency

10 Stats That Explain the State of Digital Currencies and Assets Today

In this article, we compiled 10 telling statistics on the recent history of digital assets and analyzed what they mean.

September 6, 2022
8
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Market Commentary

Is This the Great Decoupling?

There was talk about a decade ago that China would decouple from the major western economies and continue to grow as the US and Europe struggled with the debt overhang from the great financial crisis.

September 6, 2022
3
m
Market Commentary

The Merge Is Coming

The theme this week is that of reversals. The Jackson Hole speech by Powell is a masterclass of setting proper expectations. The tough rhetoric against inflation is a necessary component of combating inflation, which is largely driven by consumer expectations in the first place. The hope is that such language would be just as effective at staunching the flames of inflation as hiking rates. But maybe it has gone too far? What have we learned this week?

August 29, 2022
2
m
Market Commentary

Germany’s PPI Is WHAT?

The biggest shift this week is the great decoupling. Europe, the U.S., and China are all going their separate ways regarding monetary policy, marking this time as a historic first in recent history.

August 22, 2022
3
m
Market Commentary

ETH 2K?

The theme for this week was exceeding (inflation) expectations. The market response to softer inflation data was fast and furious causing a massive rebound in risk assets and crypto in particular. The star of the show was $ETH going from $1700 to $2000 on a week over week basis.

August 15, 2022
3
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Economics

How Banks Work and Why They Don’t

Most people in the developed world have a bank account and have interacted with a bank before. But nearly everyone, when thinking about a bank, imagines a giant vault full of money.

August 11, 2022
5
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