And "all's right with the world.”
Macro: A Fed put somewhat “in the money”
A string of central banks met in the past eight days, with most taking their cue from the US Fed, which kicked off its rate-cutting cycle. The European Central Bank and the Bank of England are marking pauses as wage growth is taking more time to slow in the two regions. However, given the lackluster growth in the Eurozone, more rate cuts should be priced by markets very soon in our view. In Emerging Asia, Indonesia and China eased their respective policy rates.
The US Fed started with a bang and a 50bps rate cut, sending BTC/USD up 5% on the day after the meeting. Fed Chair Powell was apparently in the dovish driver's seat ensuring that the Fed was not...