Bitcoin extends losses below $89,000 as Fed minutes outline two-sided risks, no preset path for rate cuts https://t.co/OFfJQ232lI ...

Private credit is booming, but it's not without risk. Ares Management's Raj Dhanda says this is the moment when experience matters most. From underwriting discipline to navigating rate cuts and illiquidity risk he joined Bloomberg Open Interest to break down how Ares is positioning for the next phase of the credit cycle, and why he thinks private markets still have plenty of upside. ...

Bitcoin, it briefly dipped below 90K, but it's back around $93,000. It's down about 10% in just one week. It's now negative for the year.Is this the bottom or are we headed lower from here. Joining me now is Cosmo Jang, general partner at Panta Capital. Cosmo, it's great to have you on.>> Hi, Morgan. Thanks for having me. >> Is this crypto winter coming early here.>> Look, we just had a long six-month rally, so some consolidation I think is very reasonable. Crypto tends to have these characteristics of risk ...

Market Trends & Drivers - Precious metals have surged this year, with gold rising about 55% and silver surging about 75% [1] - The rally in precious metals is driven by concerns about the future of the dollar, geopolitical instability, stretched stock market valuations, and expectations for rate cuts by the Fed [2][3] - Silver reached a new all-time high last week and surpassed a decades-old record last month [4] - Silver was trading at a premium in London over New York prices due to an unprecedented drop in inventories [4] - India and China are the largest consumers of silver for industrial use and jewelry [7] Silver's Industrial Applications - Silver has significant industrial uses in electronics, solar panels, and medical devices [5] - Silver is an excellent conductor of electricity and is used in circuit boards, switches, electric vehicles, and batteries [5] - Rising demand and stagnant supply have amplified silver's price rise [6] ETF Performance & Characteristics - iShares Silver Trust (SLV) is the largest silver ETF with 25 billion in assets under management and a 50 basis points expense ratio [8] - abrdn Physical Silver Shares ETF (SIVR) is a cheaper physically backed silver ETF with 37 billion in assets and a 30 basis points expense ratio [9] - Global X Silver Miners ETF (SIL) tracks companies involved in silver mining with 37 billion in assets and a 65 basis points expense ratio [10] - iShares MSCI Global Silver and Metals Miners ETF (SLVP) holds companies involved in silver exploration or metals mining with 585 million in assets and a 39 basis points expense ratio [10] - iShares MSCI Global Silver and Metals Miners ETF (SLVP) is up about 140% year to date, while Global X Silver Miners ETF (SIL) is up about 115% [12]

Canada inflation cooled by less than expected last month, supporting the Bank of Canada's move to the sidelines after back-to-back rate cuts. https://t.co/CFnyGIs4ta ...

Investment Strategy - Royal London seized the opportunity to acquire Gilts during a period of market turmoil [1] - The investment decision was influenced by expectations of future interest rate cuts by the Bank of England (BOE) [1]

It was just the other day when the conventional wisdom was that the Federal Reserve had turned the corner and more rate cuts were effectively a lock. Not anymore: Here’s your Evening Briefing https://t.co/M8yJMSRXe3 ...

Welcome back. Major indices rebounding off those session lows at the open this morning, trying to save off some back-to-back weekly losses. Should we be treating this as a buying opportunity.Joining us this morning, Wilmington Trust chief investment strategist Megan Shu is with us. Help make some sense of this Friday. Megan, what is your sense about where we are and what needs to happen to bring more stability, get that VIX a little bit lower.Um, yeah, Carl, I think actually in the short term, a little bit ...

Group 1: Market Dynamics - The Federal Reserve is perceived to be "flying blind" regarding interest rate decisions, with evidence of a weakening job market but lacking corroborative data to justify rate cuts [1][2] - The market has adjusted expectations for a December rate cut, dropping from a 68% chance to 50%, indicating skepticism about immediate monetary easing [3] - The recent sell-off in the market, with the Dow down 756 points, is attributed to the slower-than-expected path of interest rate reductions [4] Group 2: Investment Opportunities - There is approximately $6 trillion in cash on the sidelines earning less than 4%, which may eventually flow back into the market, particularly in sectors that are currently undervalued, such as healthcare [6] - Financial stocks are viewed as compelling investments, trading at a 15% discount to the S&P, with expectations of improved net interest margins and increased capital market activity due to deregulation [7][8] - Major financial institutions like JP Morgan, Goldman Sachs, Morgan Stanley, and Wells Fargo recently reached record highs, suggesting resilience in the financial sector despite market fluctuations [9]

Core Insights - The experiential economy, which thrived post-pandemic, is showing signs of decline as recent data and earnings reports raise concerns about consumer spending and demand [2][20]. Economic Indicators - The labor market is deteriorating, with an average of less than 30,000 net new jobs per month from June to August, and a recent report indicating an average loss of 11,250 jobs per week in October [3][4]. - Inflation is rising, with the consumer price index increasing from 2.3% in April to 3% in September, leading to uncertainty about future Federal Reserve rate cuts [5][6]. Company Performance - Major players in the experiential economy, such as Chipotle, Cava, and Sweet Green, reported disappointing earnings, with younger customers reducing dining out frequency [8]. - Cruise lines like Royal Caribbean and Norwegian Cruise Line have seen stock declines of 20% and 16% respectively, despite Royal Caribbean raising its full-year earnings forecast [9][10]. - Live Nation's stock dropped over 10% following a miss in earnings, attributed to weaker concert business and profitability from Ticketmaster [11][12]. - Disney's stock fell nearly 8% after reporting a topline miss and a bottom line beat, indicating challenges in its domestic experiences business [15][16]. Market Sentiment - Investor confidence in the experiential economy is waning, with companies no longer receiving the benefit of the doubt despite management's optimistic outlooks [10][11]. - The overall sentiment is increasingly negative, with concerns about the sustainability of the experiential economy amid weaker macro data and disappointing earnings reports [20][21].