Good Morning Everyone!
Buckle up, one of our key indicators is flashing red.
Prices as of 4 pm EST, 9/9/22; % YTD
MARKET UPDATE
Markets are up ahead of the CPI number tomorrow and positive Ukraine momentum
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Expectations are for headline inflation to fall from 8.5% Y/Y to at least 8%
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First week of Conference Season and no major pre-announcements. More conferences this week.
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China is closed for a holiday
Crude 88 +1%
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Crude up on weaker U.S. dollar and doubts about a potential Iran nuclear deal
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Manchin legislation to speed up permitting of traditional fossil-fuel projects faces objections
Railroads
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Two Unions representing 57,000 engineers and conductors negotiating this week
Earnings: None
CRYPTO UPDATE
Friday = Bitcoin’s (CRYPTO: BTC) largest daily gain in 6 months
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Volume ~2x the 20-day average
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Outperforming Ethereum (CRYPTO: ETH) and broader crypto markets over last 5 days
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Recent selloff overdone?
SEC plans new “Office of Crypto Assets”
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under the Division of Corporation Finance’s Disclosure Review Program (DRP)
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streamline SEC reviews of documents submitted by crypto firms
Bitcoin Fear & Greed Index
