By summer end, Mr. Market could be back to taking souls. But a few more weeks, one top Wall Street strategist argues, conditions are in place for July’s rally to be extended, “We had expected ‘face-ripping’ rallies followed by ‘soul-crushing’ sell-offs,” Wells Fargo Head of Equity Strategy Chris Harvey wrote in a recent note to clients. “Those sell-offs may be delayed until late summer. With the 10-year U.S. Treasury now an unexpected 2.81% (we hear of massive short covering), and 1- year… Source link
Read More »Behind crypto’s ugly weekend, ‘cascading’ selloffs and dashed hopes for Bitcoin $100K
“Hodl” no more? The grim weekend cryptocurrency drubbing that dragged Bitcoin (BTC) under $50,000 and ravaged other digital coins has decisively tempered the bullishness of investors — some of whom were predicting a run at $100,000 just weeks ago. Fueled by uncertainty over the Federal Reserve inching toward tighter monetary policy in the face of surging inflation, and global fears over the new Omicron variant of COVID-19, the dramatic crash was super-charged by liquidations in the crypto… Source link
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