🦅 BitEagle Daily Report | September 10
(1) Oil prices return to $100; tonight PPI
The situation in the Middle East has escalated again, and crude oil has surged sharply.
All three major U.S. stock indexes pulled back together; the yield on the U.S. 10-year Treasury rose to 4.841%.
Rising oil prices may push inflation higher again. Market expectations for a September rate hike by the Federal Reserve have already climbed to about 60%.
These days’ inflation data will directly affect expectations. Tonight at 20:30, the U.S. August PPI will be released; tomorrow night at 20:30, CPI will be released.
If tonight’s PPI comes in higher than expected, the crypto market will likely have to drop further.
(2) The LAPTOP launches and instantly crashes—celebrity endorsement doesn’t help
The Meme coin LAPTOP launched by Hunter Biden has gone live on the Base chain.
It has fallen from $300 to now about $0.7—down by hundreds of times.
Projects with early hype and celebrity backing are basically doomed; don’t try to catch the bottom.
(3) The U.S. Treasury buys back $6 billion in Treasuries
The U.S. Treasury announced it will repurchase up to $6 billion of U.S. Treasuries with maturities of 10 to 20 years. The size is 3 times that of the previous long-term Treasury buyback.
The buyback is mainly intended to improve liquidity in the Treasury market and ease pressure from selling long-dated government bonds.
But the market believes the $6 billion effort is still not enough. After the news was released, the yield on the U.S. 10-year Treasury remained elevated at 4.841%.
If Treasury yields continue to rise, both U.S. stocks and the crypto market will likely face continued pressure.
(1) Oil prices return to $100; tonight PPI
The situation in the Middle East has escalated again, and crude oil has surged sharply.
All three major U.S. stock indexes pulled back together; the yield on the U.S. 10-year Treasury rose to 4.841%.
Rising oil prices may push inflation higher again. Market expectations for a September rate hike by the Federal Reserve have already climbed to about 60%.
These days’ inflation data will directly affect expectations. Tonight at 20:30, the U.S. August PPI will be released; tomorrow night at 20:30, CPI will be released.
If tonight’s PPI comes in higher than expected, the crypto market will likely have to drop further.
(2) The LAPTOP launches and instantly crashes—celebrity endorsement doesn’t help
The Meme coin LAPTOP launched by Hunter Biden has gone live on the Base chain.
It has fallen from $300 to now about $0.7—down by hundreds of times.
Projects with early hype and celebrity backing are basically doomed; don’t try to catch the bottom.
(3) The U.S. Treasury buys back $6 billion in Treasuries
The U.S. Treasury announced it will repurchase up to $6 billion of U.S. Treasuries with maturities of 10 to 20 years. The size is 3 times that of the previous long-term Treasury buyback.
The buyback is mainly intended to improve liquidity in the Treasury market and ease pressure from selling long-dated government bonds.
But the market believes the $6 billion effort is still not enough. After the news was released, the yield on the U.S. 10-year Treasury remained elevated at 4.841%.
If Treasury yields continue to rise, both U.S. stocks and the crypto market will likely face continued pressure.