GoTycheU.S. bond yields are little changed early Thursday after yesterday's surge higher sent risk markets sharply lower.
Bond King Jeff Gundlach breaks down the bond market's issue
“The dilemma,” wrote Jeff Gundlach, founder of fixed-income management giant Doubleline Capital.
“If the Fed hikes it will worsen the interest expense problem (since so much borrowing is at the short end). If the Fed cuts it will worsen the inflation problem.”
Bitcoin and stocks remain under pressure following yesterday's big bond selloff
Bitcoin (BTC) is trading at $83,500 two hours prior to the U.S. market open, down 2.55% over the past 24 hours. Ether (ETH) and solana (SOL) are down closer to 3%, and XRP (XRP) is lower by 7.5%.
U.S. stock index futures are pointing to a second day of declines, the Nasdaq down 0.9% and the S&P 500 off 0.5%.
The bond market is steady early Thursday following yesterday’s plunge that saw the U.S. 10-year Treasury yield surge nearly 20 basis points to its highest level in more than 19 years.
Thursday will bring Initial Jobless Claims, which are expected to continue showing extreme strength in the U.S. employment market. There will also be New Home Sales for August as well as a couple of Fed speakers.
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The Definitive Stablecoin Landscape Series: Asia Pacific
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
EU financial watchdogs warn quantum computing poses imminent threat to blockchain encryption
A week of AI coding cut a quantum-safe bitcoin transaction estimate from $320 to $66
XRP Ledger retries upgrade that lets banks split payment and compliance duties