In this episode, Nik recaps one of the most eventful few days for financial markets this decade. With the soft landing narrative quickly giving way to a recession after last week's employment data, global markets went into a full tailspin, with US Treasuries dramatically bull steepening, stocks crashing, and bitcoin dipping below $50,000. He analyzes recent economic releases, discusses the volatility event and unwind of the Japanese yen carry trade, and carefully breaks down the price action from Tuesday's sharp, albeit partial, recovery.
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Nik Bhatia's Twitter: https://twitter.com/timevalueofbtc
Research Associate Joe Consorti's Twitter: https://twitter.com/JoeConsorti
Creative Director Matthew Ball's Twitter: https://twitter.com/matthewrball
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The Bitcoin Layer and its guests do not provide investment advice.
Chapters:
00:00:00 - A Shocking Week in Financial Markets
00:05:11 - The Pain of Rate Cuts and Economic Disruptions
00:10:02 - Economic Backdrop: Headlines and Unemployment Claims
00:15:05 - Implications of a Bad Recession and Rate Cuts
00:20:24 - The Impact of Treasury Repo Investments
00:25:15 - Bitcoin Price Analysis
00:30:05 - The Response of the Investment Universe
00:34:57 - Yields Breaking Down
00:39:45 - The Unwinding of the Carry Trade
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