BlockBeats News, October 5: Tom Lee said in an interview with CNBC:

“I think that before last week’s jobs report came out, the market had been trading on the ‘most hawkish Fed’ scenario—that is, expecting three rate hikes, including a 75% probability of a hike in October. But in the end, the jobs report came in soft. In two weeks, we’ll get the September inflation report.”

In our view, some one-off factors are fading, so I think inflation data will come in softer over the next six months. This will not only allow the Fed to step back from its hawkish stance, but I also think it will bring bond yields back toward more normal levels, as uncertainty around inflation begins to ease.

And I think there are plenty of clues: tech stocks are hitting new highs, and cryptocurrencies are performing so well. They wouldn’t be doing this well under tighter monetary conditions. So I think they’re pricing in looser financial conditions ahead.