There is an impressive turn unfolding in US equities and crypto.
The S&P 500 is now up 22 points to a session high in a 0.4% gain. The index had fallen to nearly flat before rebounding strongly in the past hour. Similarly, bitcoin is now up 0.8% to $94,400 after falling as low as $91,400.
There hasn’t been a real catalyst for the move but perhaps the market is taking a second look at the new home sales data and sensing a better chance of a Fed rate cut. US yields have come down as well.
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