Syz the moment

▶️The unemployment rate fell to 4.1% from 4.2% as the private-sector survey showed 93,000 new jobs created, and labor force participation rate dipped slightly to 62.3%, suggesting fewer people are actively working or looking for work. ▶️Meanwhile, wage growth came in softer than expected, with average hourly earnings rising 3.7% year-over-year. Source: HolgerZ, Bloomberg

Bitcoin ETFs, whose collective U.S. launch in January 2024 was one of the most successful ETF debuts in history, still represent the largest holders of bitcoin by entity with more than 1.4 million coins held today, representing about 6.8% of the fixed supply cap of 21 million. Public companies hold about 855,000 coins, or about 4%. Source. CNBC

With AI, humanoids & more investment going into AI, this will only accelerate. $AMZN's retail margin might surprise investors. Source: Rihard Jarc on X, WSJ

Max Layton, global commodities head at CITI Research, predicts gold will trade at about $2,500 to $2,700 in the second half of next year, down about $900 or so less than where it is today. Layton said CITI had been bullish on gold for the last couple of years as investors flocked to the precious metal. He said people are buying gold to hedge against a downside risks to their household wealth over fears of slowing economic growth and global uncertainty. “The move from $2,600 to $3,300 this year has been all about investors buying bars and coins, particularly bars because they’re hedging against a downside in U.S. and global growth, as well as a downside in equities related to that downside in U.S. and global growth, which has come about because of the combination of still extremely high interest rates in the U.S. by historical standards, and the tariffs.” He however expects a drop in prices due to weakening investment demand, anticipated U.S. interest rate cuts and improved economic prospects. “We’re getting close to this One Big Beautiful Bill Act passing Congress,” said Layton. “We think that is going to mark a shift in sentiment towards U.S. growth and basically a slight reduction, or even a moderate reduction, or even possibly by the end of next year, heading into the mid terms with lower interest rates as well.” Source: BN Bloomberg

Source: Nautilus Research through RBC

▶️ The frenzy came after years of lackluster IPO activity in the city. ▶️The renewed interest is fueled by a confluence of factors, including Beijing’s regulatory tailwinds, lackluster A-share listings and delisting fears in U.S. markets. https://lnkd.in/eK4PnfUQ Source: CNBC

▶️ Corporate treasuries have surpassed ETFs in bitcoin buying for a third consecutive quarter as more companies try to benefit from the MicroStrategy playbook in a more crypto-friendly regulatory environment. ▶️Public companies acquired about 131,000 coins in the second quarter, growing their bitcoin balance 18%, according to data provider Bitcoin Treasuries. ETFs showed an 8% increase or about 111,000 BTC in the same period. ▶️Public company bitcoin holdings increased 4% in April, a tumultuous month after the market was rocked by President Donald Trump’s initial tariffs announcement, versus 2% for ETFs. Nick Marie, head of research at Ecoinometrics, suggested that 10 years from now, there probably won’t be so many companies committed to the bitcoin treasury strategy. Firstly, he said, the more that enter the category, the more diluted the activity at each firm becomes. Plus, bitcoin may be so normalized by then that proxy buyers are no longer constrained by rules and mandates around direct exposure to bitcoin. Source: CNBC

Prepare accordingly. Source: @CarlBMenger