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Focus This Week Is On Macro

Published 06/03/2023, 14:25
Updated 06/03/2023, 16:14
Focus This Week Is On Macro
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Benzinga - Good Morning Everyone!

Over half of US mortgages were originated in 2020 or later, including refinances.

Think anyone with a 3% mortgage locked in is going to sell anytime soon?

Prices as of 4 pm EST, 3/3/23; % YTD

MARKET UPDATE This week

  • Tuesday: Jerome Powell speaks at 10 a.m. - Senate panel

  • Wednesday: Jerome Powell speaks at 10 a.m. - House Committee

  • Friday: Nonfarm payrolls, unemployment at 8:30 a.m.

Market has priced in another 90 basis points in hikes

  • That would take the Upper Bound from 4.75% to 5.65%

Crude 78.50 -1.2%

  • China’s National People’s Congress forecast only 5% GDP growth

  • CERA starts today (Cambridge Energy Research Associates), expect a lot of headlines

Earnings None

CRYPTO UPDATE DeFi crypto funding

  • DeFi attracted 41x more capital in 2022 than in 2020

  • DeFi firms raised more than 3x raised in 2021

  • Notable recent raises: Few and Far, Conflux, Avalon Corp, Term Finance, Insrt Finance, Impossible Cloud

SEC & Binance

  • Official says Binance.US is operating unregistered securities exchange

  • Think sale of VGX tokens by Voyager Digital also breaks laws

  • Binance.US plans to buy Voyager (part of latter’s restructuring plan)

Crypto Fear & Greed

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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