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ISM Manu PMI continues to be in the contraction zone.

New orders pointing to further coming contractions.

Yet a jump in prices from contraction to almost stable has spooked the stocks and bond market.
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Reminder
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Forwarded from Watcher Guru
JUST IN: 🇺🇸 Democratic congresswoman Lois Frankel sold First Republic $FRC stock and bought JPMorgan just before bank sale, CNN reports.

@WatcherGuru
📣 Announcement 📣

Hey everybody! We have created a Substack newsletter to share longer-form Bitcoin articles and analyses. Feel free to sign up. It is free.

📚 Bitguide articles will cover Bitcoin, economics, money and financial markets with a fact-based research approach.

💡Tune in for our upcoming post which is an extensive analysis of innoscriptions and how they have impacted the bitcoin ecosystem (breakdown of trends, blockspace usage, Mempool congestion, fees generated, etc.)

https://bitguide.substack.com

Website | Twitter | Substack
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📣Newsletter #1📣

Bitcoin Innoscriptions

📚How are they impacting the Bitcoin ecosystem? The hype, trends, and the implications for blockspace, fee market & adoption

Co-authored with senior Glassnode researcher @CryptoVizArt

🔥Enjoy & subscribe for more

https://bitguide.substack.com/p/bitcoin-innoscriptions
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Major recessionary reading from the Empire State Manufacturing Survey

Index: -31.8 vs -3.7 expected vs +10.8 April!

Largest drop on record (ex-COVID)!

Index, new orders and shipments all plunged after a fake rise last month.
📣Newsletter #2📣

Ledger Recover Fiasco: What? How bad? What to do?
Lose your privacy and security simultaneously … and … pay for it too

Co-authored by @Ziya_Sadr & @Sinz_Bitguide 

Enjoy & Subscribe for more!

https://bitguide.substack.com/p/ledger-recover-fiasco-what-how-bad?utm_source=tg&sd=pf
Home Prices Posted Biggest Drop Since 2012 in April Year-over-year change in median U.S. home sale price
Housing finally beginning to properly price the hikes
Current market sentiment
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Forwarded from 696 723524
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While in January, German officials were optimistically celebrating “skirting” a recession, their economy was directly heading towards that recession

And there were clear signs for it too, including the negative retail sales prints (eg -5% yoy in Feb 2023)

Never believe officials on the economy
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Debt ceiling pause just passed by the House.

The US debt ceiling has been raised 79 times over the last 63 years.

Over the last 10 years alone, the US has added $15 trillion in federal debt.

Since 2020, US debt is up by $8 trillion.

Debt ceiling “debate” is a farce for the masses. Both sides of the aisle need to spend to get the votes.
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The Eurozone officially enters recession. The zone reported a 0.1% contraction in Q1 2023 after a similar contraction in Q4 2022.
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That feeling when your lawsuit is delivered
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