Central banks have delivered 32 interest-rate cuts globally this year as a worsening U.S.-China trade war drags down global economic growth. Swap markets suggest we’re not even at the halfway mark for cuts yet.
Traders are expecting much more. Over the next 12 months, interest-rate swap markets have priced in around 58 more rate cuts, assuming central banks maintain their current trajectories in easing. Those cuts could total another 16% in global reductions.
And when it comes to the US, the Equity and Bond markets have already priced in further rate cuts. The Fed’s target rate range is between 2% and 2.25% after a cut of 25 basis points in July. If Fed Powell doesn’t continue to cut rates, many on Wall Street (and Trump) are saying the Feds will cause the next recession. A big part of this thesis is when the Feds raised rates four times in 2018 with the last one causing that massive sell-off in December (Merry Christmas).
The US Feds are in a tough spot because the US economy is actually still growing…just at a slower pace. The economy expanded by 2% in the second quarter and consumer confidence is still near all-time highs. Based on the historical correlation between the stock market and consumer confidence once the index hits 100, consumer confidence may be about to dip, which could hit the retail space hard and evidently the stock market.
But what’s going on around the world can’t be ignored, the global economy is slowing down. And probably more important, the invert yield curve can’t be ignored either because it’s only predicted the last 5 or 6 recessions.
And so, from a fundamental standpoint, based on the continued rate cuts around the world, I expect the 10 yr bond to continue to move higher over time. However, from a technical standpoint, price is currently in a monthly supply zone. The chart suggests price will pull back, before moving higher.
On the daily chart, price should at least stall at these levels, if not react and move higher.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
According to a recent report by the UN’s Intergovernmental Panel on Climate Change (IPCC), global meat consumption must be reduced to curb global warming and alleviate strains on stretched land and water resources.
As human use directly affects more than 70% of the global ice-free land surface, plant-based foods and sustainable animal-sourced foods could free up several million square kilometres of land by 2050 and cut harmful emissions.
Last year’s report called for rapid changes across society to keep the temperature rise to 1.5 degrees Celsius, while this year’s report states that “[t]he window for making these changes is closing fast. If there is further delay in reducing emissions, we will miss the opportunity to successfully manage the climate change transition in the land sector.”
Analysis and Comments
According to the report, agriculture, forestry and other land use activities accounted for 23% of total net man-made GHG emissions during 2007-2016 (excluding pre- and post-production activity in the food system).
While the IPCC stops short from actually telling people to go meat-free, it does advocate the benefits of a more plant-based alternative diet, which may be seen as a positive for players in this space (although this is not exactly news).
The Guardian published a highly critical response to the IPCC’s land and climate report (saying that it “irresponsibly understates the true carbon cost of our meat and dairy habits”), which includes a number of very interesting figures – well worth a read!
Lithuanian blockchain startup DappRadar, a platform for discovering and analyzing blockchain-based decentralized applications (DApps), announced it raised $2.33 million in seed funding. $2.33 million to expand services
On Sept. 5, DappRadar announced the closing of a $2.33 million seeding round, which was led by Naspers, a South African-based global internet and media group. Blockchain.com Ventures, a venture capital fund and subsidiary of Blockchain.com, and Angel Invest Berlin were also among the participants.
Ethereum’s testnet activation of the Istanbul hard fork has been pushed back to early October, according to the community manager of the Ethereum Foundation, Hudson Jameson.
According to CoinDesk on Sept. 6, Jameson said on a developers’ call that the testnet launch of the hard fork is now scheduled to take place in the beginning of October.
“For anyone listening in who doesn’t know how this works, we pick a block number that we estimate to be around the 2nd of October. […] However, that might be one or two days behind or forward from that date based on how fast blocks are produced between now and then.”
Chairman of the United States Federal Reserve Jerome Powell said that the United States Federal Reserve is monitoring digital currencies carefully, but not working on its own at the moment. Speaking at a forum in Zurich, Switzerland, on Sept. 6, Powell addressed the issue of cryptocurrencies, arguing that central banks would likely will not release their own digital currency in the near future.
Powell added that cryptocurrencies raise a range of concerns including cyber security issues: “If you think about one currency that was for the United States, it would really need to be cyber secure because it’s one thing to be able to counterfeit paper currency, it’s another thing to hack into a cyber currency and create, with a computer, however much of it you want.”
“Xensor will be listed in IDAX exchange on September 6th, 2019”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
Till now and also due to the BTC correction, the UP that we had yesterday is becoming a simple PUMP and DUMP. We almost lost all the UP of yesterday so yeah, just consider it as a false signal. I traced for you the low on the STEEM around 0.155$. It is really possible that we go touch it quiet soon. Let’s see if we will have a bounce on that level.
In Elliott Wave terms, Dragon Coins began a wave one advance on August 19. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on August 30, and the red wave two (blue sub-waves a-b-c) correction ended on September 5. If this wave count is correct, Dragon Coins should be heading next towards the August 30 peak in the red wave three.