Beijing prodding may have reversed much of the week’s equities market pain, though I doubt positive sentiment will return anytime soon. Click here to read a weekly update.
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A “storm” swept through the US government bond market on Friday, sending a key measure of long-term borrowing costs to the highest level since last February.
Treasuries dropped in overnight trading after a large sale of long-dated bond futures in Asia, according to people familiar with the matter. Yields on the benchmark 10-year note, a key marker across global asset markets, jumped to 1.63 per cent, having traded around 1.53 per cent the day before.
Analysts said the scale of the move underscored how jittery the $21tn market had become against the backdrop of a more robust economic rebound. Treasuries are the biggest and deepest market in the world, something that typically insulates it from sharp rises and falls in prices.
Updated Jan 19, 2021 at 4:51 p.m. UTC
Money Reimagined: Bitcoin’s Warning for Central Banks
Another week, another lifetime lived:
The U.S. President impeached,
again. Worldwide COVID-19 deaths close in on 2 million. Bitcoin surges to a record high above $42,000, promptly plunges to almost below $30,000 and then begins a late-week rally above $36,000.
Meanwhile, the crypto community has been grappling with some contentious regulatory proposals that would strengthen U.S. monitoring of global digital currency transactions.
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That’s the topic of this week’s “Money Reimagined” podcast episode. We talk to Christopher Giancarlo, the former chairman of the Commodities Futures Trading Commission, and Marvin Ammori, a famed digital civil rights lawyer who’s now chief legal counsel at Uniswap, about how the crypto industry and