Ten31 Timestamp 817,329
Markets decisively reversed course from mid-October woes this week, as the latest CPI reading ignited a short squeeze that sent stock indices back near YTD highs.
Markets decisively reversed course from mid-October woes this week, as the latest CPI reading ignited a short squeeze that sent stock indices back near YTD highs.
The capstone for the week came late Friday, when ratings agency Moody’s downgraded its outlook for US sovereign debt to negative.
We fully expect the excesses and fragilities of late-stage fiat to compound further over the coming decade.
Meanwhile, bitcoin put up another strong showing, gaining another ~15% after last week’s +10% move (which also coincided with a broad selloff in traditional markets).
After some temporary relief, yields on sovereign debt spiked again this week, with the 10-year US Treasury rising nearly 40bps W/W to break 5% for the first time since 2007 before retracing slightly on Friday afternoon.
Markets decisively reversed course from mid-October woes this week, as the latest CPI reading ignited a short squeeze that sent stock indices back near YTD highs.
The capstone for the week came late Friday, when ratings agency Moody’s downgraded its outlook for US sovereign debt to negative.
We fully expect the excesses and fragilities of late-stage fiat to compound further over the coming decade.
Meanwhile, bitcoin put up another strong showing, gaining another ~15% after last week’s +10% move (which also coincided with a broad selloff in traditional markets).
After some temporary relief, yields on sovereign debt spiked again this week, with the 10-year US Treasury rising nearly 40bps W/W to break 5% for the first time since 2007 before retracing slightly on Friday afternoon.