The Fed announced a 50 basis point rate cut last night and plans two more cuts this year and four more in 2025, QCP Capital said in its latest market analysis. With Powell vague about the size and pace of subsequent rate cuts, everyone will be watching the upcoming jobs data for signs.
US 2-year/10-year Treasury spreads, an indicator of recession, have been inverted since July 2022, but have recently increased to + 8 basis points, reflecting optimism and a shift towards risk-averse assets. The S & P 500 tried to reach new highs, but closed lower after the FOMC meeting.
In options, implied volatility plummeted after the FOMC meeting, with BTC down 19 vols and ETH down 18 vols. After the FOMC, BTC rebounded from $59,000 to $62,000, while ETH was around $2,400.
It believes that volatility is expected to surge as Election Day approaches, just after the next FOMC meeting.
QCP: After the FOMC meeting, the implied volatility of BTC and ETH plummeted, and it is expected to surge again as Election Day approaches
2024-09-19 10:46:49
QCP capital markets analysis indicated fed last night announceddesk3cryptocurrencydesktopCrypto News
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