In-depth market analysis on real-world asset tokenization, DeFi protocols, and the future of decentralized finance.
Inflation growth slowed and unemployment fell in August while Treasury yields stayed elevated amid a global bond selloff, prompting new Treasury buybacks. The S&P 500 and Dow Jones closed at record highs, and gold extended its rally to a 10-week high.
Monthly macro, rates and RWA market analysis.
The Fed held rates in July with no forward guidance, with markets pricing in a potential hike for September. GDP growth came in below expectations for Q2; inflation is easing, while the labour market still holds strong.
The FOMC held rates steady as the economy ran hotter than expected, while oil fell on the U.S.-Iran ceasefire and gold weakened on real yields. Bitcoin dropped below $60K as ETF outflows accelerated.
No FOMC meeting left rates unchanged as persistent inflation lifted Treasury yields and big tech drove equities to record highs. RAAC controls 4.49% of veCRV voting power.
The FOMC held at 3.6% for a third meeting as markets priced out cuts and U.S. equities posted their strongest month since 2020. A multi-billion-dollar hack drove DeFi borrowing rates higher.
The FOMC held at 3.6% for a second meeting as the U.S./Israel-Iran conflict pushed oil, bond yields and mortgage rates higher. RAAC took the largest share of Curve votes, at 4.1% of the total.
With no FOMC meeting, rates held at 3.50%-3.75% while Q4 GDP missed expectations and Fed minutes struck a hawkish tone. Gold and silver rebounded, and pmUSD ranked as the 49th largest stablecoin.
The Fed held rates at 3.50%-3.75% as the labour market stabilised, while a revived 'Sell America' narrative lifted Treasury yields and weakened the dollar. Crypto stayed below prior highs.
The Fed delivered a third consecutive quarter-point cut to 3.50%-3.75%, yet long-term yields stayed elevated. Crypto underperformed while pmUSD launched and Curve-native stablecoins outgrew the rest.
Mid-month pool APYs and return on incentives.