Macro: Sandcastle economics
Invest wisely in Q3 2024: Discover SaxoStrats' insights on navigating a stable yet fragile global economy.
Access both platforms from your single Saxo account.
Increased liquidity is coming to crypto
Jacob Pouncey
Cryptocurrency analyst, Saxo Bank Group
This week the entire crypto market cap fell 6% to just over $250bn. Similarly, Ethereum fell by 5% after failing to hold above the $500 level on several exchanges. As typical in a cryptocurrency bear market, Bitcoin outperformed the market, falling just 2% for the week. We are still in the downtrend that started at the beginning of the year. The market is looking for signs of a reversal, but the prudent investor must be aware of any false breakouts to the upside.
Bitcoin and Ethereum ETNs and futures to see more liquidity
The largest speed trader of ETFs in Europe, Flow Traders NV, announced this week that it will begin making markets in the Bitcoin and Ethereum ETNs that trade on the Stockholm exchange, NASDAQ OMX. The firm traded EUR 244bn of ETFs globally in the first quarter and said that it will hedge its trades using the futures offered by CME and CBOE. This will add much needed liquidity to the ETNs and futures market. Hopefully, the move will reduce the slight premium at which the notes have often traded. The notes are available to trade on Saxo Bank’s platform.
Swiss stock exchange to use distributed ledger technology
Switzerland’s Stock exchange operated by SIX will be the first exchange to offer trading, settlement and custody service for digital assets. The firm stated that the new digital exchange will allow for the tokenisation of existing securities. This is the first regulated European exchange offering end to end solutions, bringing legitimacy to digital assets and opening the door for more institutions to get involved. The firm will not use the infrastructure for cryptocurrencies initially, due to the lack of regulatory clarity around the emergent asset class.
Latest Market Insights
Quarterly Outlook 2024 Q3
Sandcastle economics
-
-
Bonds: What to do until inflation stabilises
Discover strategies for managing bonds as US and European yields remain rangebound due to uncertain inflation and evolving monetary policies.
-
Equities: Are we blowing bubbles again
Explore key trends and opportunities in European equities and electrification theme as market dynamics echo 2021's rally.
-
FX: Risk-on currencies to surge against havens
Explore the outlook for USD, AUD, NZD, and EM carry trades as risk-on currencies are set to outperform in Q3 2024.
-
Commodities: Energy and grains in focus as metals pause
Energy and grains to shine as metals pause. Discover key trends and market drivers for commodities in Q3 2024.
Disclaimer
The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.
Please read our disclaimers:
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
- Full disclaimer (https://www.home.saxo/en-gb/legal/disclaimer/saxo-disclaimer)