The US shed 23,000 jobs in July, with June’s gains slashed from 57,000 to 20,000. Markets are buying stocks and bonds, but crypto’s reaction is muted.
The Fed will likely pause rate hikes in September. CME FedWatch puts the probability below 50%, down from 55%.
The market is pricing in a dovish Fed, but ignoring why. Weak jobs and falling hourly earnings (up 0.1% vs 0.3% expected) signal a slowing economy. That's a recession signal, not a bull signal. Gold and silver are up 3% and 6% respectively. Real money is moving to safety.
Would you hold a recession asset like Bitcoin at $65,094?
$BTC
The Fed will likely pause rate hikes in September. CME FedWatch puts the probability below 50%, down from 55%.
The market is pricing in a dovish Fed, but ignoring why. Weak jobs and falling hourly earnings (up 0.1% vs 0.3% expected) signal a slowing economy. That's a recession signal, not a bull signal. Gold and silver are up 3% and 6% respectively. Real money is moving to safety.
Would you hold a recession asset like Bitcoin at $65,094?
$BTC