ASML back on major support level
ASML Holding (ASML NA) is retesting major support zone 568-580. Keep an eye. Source : Bloomberg
Bitcoin rebounding ?
Bitcoin (XBTUSD) is showing fist signs of a rebound on major support zone 24'650-25'250. Keep an eye the next few days. Source : Bloomberg
Long Nuclear short Windmills?
Source: Steno Research & Macrobond
SNB Policy rate at 2.00% by end-Q3 2023 - Survey
The following table shows economists’ forecasts for Switzerland’s benchmark central bank rate as surveyed by Bloomberg News from Sept. 1st to Sept. 7th. All figures are as of the end of the quarter.
Current SNB Policy Rate: 1.75%
Sourcce: Bloomberg
FTSE Mib Index rebounding on major support level
FTSE MIB Index rebounded yesterday on it's June-July breakout level. This is a major level as it was tested at least 6 times since 2021 before the breakout. There is also a support represented by December uptrend at 27'500. Keep an eye. Source : Bloomberg
Hedge Fund YTD returns by strategy as of August 2023
Source: www.aurum.com
SoftBank's $ARM IPO is coming up
The chip designer aims to raise ~$5B, targeting a valuation of $50B-$55B. It's the largest US IPO since $RIVN in 2021. Note that SoftBank’s $50bn flotation of Arm is more than five times oversubscribed, according to bankers pitching investors on the biggest initial public offering in nearly two years, as the UK-based chip designer forecast accelerating revenue growth boosted by the artificial intelligence boom. Despite investor concerns about a drop in profits in Arm’s most recent quarter amid a smartphone industry slowdown and the company’s exposure to multiple risks in China, advisers working on the Nasdaq listing said there was “little price sensitivity among investors”, many of whom would be forced to buy because of Arm’s inclusion in indices. Here's a snapshot of its FY 2023 income satement by App Economy Insights
$3.4bn of altcoins could be starting to see some selling pressure
In an April filing, FTX said it held $3.4bn in crypto assets. In last week’s filing, FTX indicated its willingness to sell $200m of crypto assets per week as the company wants to return fiat instead of crypto to its users. This means FTX will continue to sell assets until the end of 2023. FTX holds and will potentially start selling: SOL $685m FTT $529m BTC $268m ETH $90m APT $67m DODGE $42m MATIC $39m BIT $35m TON $31m XRP $29m Source: Markus Thielen
