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Stock markets bounced firmly last week. The Dow, Trump's favorite benchmark of presidental success, retraced just over 61.8% and nearly all losses from the previous week, before profit taking set in ahead of the weekend. Barring anything that would spook investors, I think orderly correction has some further to run after some initial consolidation in 10% range, especially if bond yields keep rising.
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Are we on the verge of the Big Diversification?
S&P 500 is down about 10%, which is still well within the realms of a healthy market correction, though sellers do not appear to be done. According to Wall Street's rule of thumb, bull market officially ends when 20% is exceeded on a sustained basis. Bond yields are firm, which suggests investors are moving at least partly into cash.
Now, imagine if only a fraction of the 70T global stock market (nevermind 300T+ in other liquid assets) diversifies into digital assets. Cryptocurrency market capit…
Now, imagine if only a fraction of the 70T global stock market (nevermind 300T+ in other liquid assets) diversifies into digital assets. Cryptocurrency market capit…