Commodities appear “deeply oversold” relative to equities (from The Daily Shot on June 7)…
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Porter & Co.
“Smart money” positioning in the futures markets suggests copper prices could be nearing a low (from McClellan Financial Publications on June 8)…
“Doctor Copper” has long been held in high repute as an economic expert, and this week’s chart looks under the surface of what copper prices themselves are doing to see an interesting additional insight. The comparison in this chart involves the Institute for Supply Management’s index known as PMI, which used to stand for Purchasing
Bank of America’s latest survey of global fund managers suggests virtually no one is bullish on commodities today (from the Financial Times on June 13)…
Fund managers have cut commodities allocations to their lowest levels for three years in a shift that illustrates declining confidence in the outlook for Chinese demand for raw materials and fears that the global economy will enter recession. Bank of America’s monthly global fund manager survey showed that a net 3 percent of managers held
Bitcoin continues to gradually “decouple” from the stock market again (from ecoinometrics via Twitter on June 5)…
A majority of U.S. crypto exchange Coinbase’s revenue could be at risk as a result of the Security and Exchange Commission’s (SEC) crypto crackdown (from NotChaseColeman via Twitter on June 5)…
Why the SEC is targeting crypto exchanges now (from The Guardian on June 6)…
On Monday, after months of discussions, threats and warnings, the US Securities and Exchange Commission (SEC) took aim at the most powerful force in the world of cryptocurrencies. The US financial watchdog accused the crypto exchange Binance and its founder Changpeng Zhao of operating a “web of deception,” charging him and his exchange with 13
U.S. lawmakers urge the Internal Revenue Service and Treasury Department to release new crypto tax rules (from Coindesk on June 7)…
The U.S. Treasury Department and Internal Revenue Service (IRS) should promptly release planned crypto tax rules so the industry can be brought into full compliance, Reps. Brad Sherman (D-Calif) and Stephen Lynch (D-Mass) said in a Monday letter. “For many years, the cryptocurrency industry has been a major source of tax evasion and a significant
Professional currency trader Brent Donnelly notes Bitcoin has a clear advantage versus other digital assets as U.S. regulators begin to crack down on crypto exchanges (from Spectra Markets am/FX on June 12)…
It is essentially unanimous inside and outside the world of crypto that bitcoin [(BTC)] is not a security. This is a big competitive advantage for BTC. As the [original] digital gold, BTC also has essentially no competition for its primary use case. Every other cryptocurrency, including [Ethereum (ETH)], has competition. And every other cryptocurrency, including