Category: EN
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Range Break?
Was This It? Has BTC Woken Up from Its Long Slumber? Risk-on sentiment continued in an otherwise muted week, with US equities, treasuries yields, USD FX, gold and BTC prices all grinding to interim or YTD highs. US data was robust with retail sales (+0.6% MoM in real terms, +0.7% MoM in control group) coming…
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Record #45
The SPX Hit its 45thRecord High in 2024… That’s 45 Out of ~198 Trading Days YTD with a New High US markets saw relatively firmer data last week with both CPI and PPI coming in on the stronger side. Markets were initially confused by the data impact, but ultimately decided that the ‘core’ inflation trend…
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October 11 Market Commentary
CPI data & the bullish signs from institutions on crypto Macro markets had a quiet week heading into CPI, where we just printed a stronger beat on the core (0.31% MoM vs 0.25% expected) driven by strong shelter inflation and OER. Market reaction was choppy with treasuries continuing its bear-flattening move, while a jump in…
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SOFA.org Launches SOFA Points as Part of User Reward Program
In the ever-evolving landscape of decentralized finance (DeFi), engagement and community participation are vital for sustained growth and innovation. At SOFA, we understand the importance of rewarding our community members for their active involvement, which is why we are excited to introduce SOFA Points. This innovative rewards system is designed to incentivize users and enhance…
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Uptober? More Like Jobs-tober.
It seems like everyone is getting a job this month… A significantly stronger than forecast NFP raised significant questions on the Fed’s wisdom to cut 50bp last month, as the US economy added 254k new jobs (vs 150k expected), with the unemployment rate falling back down to 4.05% and average hourly earnings staying robust. NFP…
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Exploring $RCH Use Cases: Unlocking Potential Within the SOFA Ecosystem
In the rapidly evolving world of decentralized finance (DeFi), the utility of tokens can significantly influence their value and adoption. $RCH, the native utility token of SOFA, has been designed with multiple use cases that enhance its functionality within the SOFA ecosystem. This article delves into the various ways $RCH can be utilized, highlighting its…
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SOFA October 2024 Update
Dear friends & supporters, What a change a month brings! After a rough start in August, things are looking a lot more solid as we finish up September with macro assets on the rise and global central banks looking to ignite a new easing cycle. The team at SOFA just returned from the Token 2049…
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Labour Week
A soft US core PCE (and weak European CPIs) ended the risk-friendly week with a treasury bull curve steepening move, and equities (US + China) both hovering at cycle highs. On a 3m/3m basis, core inflation has settled back to around the 2% annualized level across both CPI and PCE, settling back down towards the…
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September 27 Market Commentary – bitcoin ETF flows
26th September’s bitcoin ETF flows It’s all the green light for global risk markets as US equities hit new ATHs for the 3rd time this week, helped by a rapid-fire of furious stimulus to resuscitate the long-struggling Chinese economy. This has led renowned macro observers to turn explicitly bullish on all risk assets in the…
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September 27 Market Commentary – PBoC
PBoC’s ‘Whatever It Takes’ Moment? The recent China stimulus was a long-awaited ‘bazooka’ that the struggling market had long waited for. Against a backdrop of stagnating economic growth and real estate overhang, Chinese policymakers opted for an aggressive move which is specifically targeting stock prices, and trying to reverse years of negative foreign investor sentiment…