Syz the moment

The latest European Commission survey on Eurozone selling price expectations shows a significant decline, suggesting that inflation should continue to decrease in the coming months, alleviating pressure on the ECB to tighten its monetary policy. After a possible one or two final tightening moves by the ECB in June and/or July, is it worth considering a higher allocation to European rates, particularly core bonds? Source : Bloomberg.

Data indicates Binance users have overall withdrawn almost $1.5 billion from the crypto exchange over the past day, as the firm grapples with a fresh Securities and Exchange Commission lawsuit over alleged securities violations. The SEC claimed the exchange and its CEO Changpeng Zhao lured US customers to their unregulated platform and mixed investors’ funds with their own.

The iTraxx Main index, which monitors the 5-year credit default swaps (CDS) of IG corporate bonds, achieved a significant breakthrough by crossing the 80 bps threshold for the first time since the banking stress experienced in March. This development indicates a positive shift in market sentiment and improved confidence in the IG corporate sector. This achievement in the credit market raises an important question: Is the market too complacent with the current situation, or does it suggest that a soft landing has become the baseline scenario? Source: Bloomberg

Do Kwon will be released from Montenegro detention after his bail request of approximately $427,900 (€400,000) was accepted.nThis comes after the court verified his property to be "worth millions." Another reason why bail was considered is that, due to the nature of the case, the duration of the procedure is uncertain. Source Decrypt

Market sentiment initially turned negative as the first-round results showed an unexpected rise in Erdogan's prospects for securing another presidential term. However, in a remarkable turnaround, Turkey's 5-year CDS has already returned to pre-election levels just days after Erdogan's re-election. The appointment of Mehmet Simsek as Minister of Treasury and Finance signals a positive shift towards a more conventional economic approach, bolstering market confidence post-election. Could this indicate a forthcoming adoption of a more conventional monetary policy strategy by the Turkish Central Bank? Source : Bloomberg

The number of staked Ether in May reached a new all-time high of 2.96 million ETH, approximately 2.46% of the total supply. The significant surge comes within a month of the Shapella, allowing validators to withdraw their staked ETH after two years. Many then believed the heavy unstaking of ETH could be a bearish event for the Ethereum network. However, an estimated less than 1% of all staked ETH was sold after Shapella. source: Cointelegraph

Under new rules from the Central Bank of the United Arab Emirates (CBUAE), licensed financial institutions (LFIs) would be required to verify the identities of all customers. The update will come into effect “within a month” by the end of June. According to the guidance, LFIs should submit a request to the central bank for non-objection to open accounts for each virtual asset providers (VASP) on a case-by-case basis. Any collaboration with VASPs without a national license is prohibited. Source Cointelegraph

McDonald’s is approaching 282 support level. That was March’s breakout level. Keep an eye on it ! Source : Bloomberg