The Eurozone officially enters recession. The zone reported a 0.1% contraction in Q1 2023 after a similar contraction in Q4 2022.

That feeling when your lawsuit is delivered

The shape of the Treasury yield curve and how the fixed income market evolved over time:

Today = Extreme Pessimism
6 months ago = Fear
1 year ago = Optimism

ARK - A New Bitcoin L2 Protocol

We are going to have a Twitter Spaces with
@4moonsettler and @Sinz_Bitguide to discuss ARK – the newly proposed Bitcoin L2 protocol that addresses lightning’s inbound liquidity constraints & complements it.

Time: Today, 4pm Eastern Time, 8pm GMT (in about half an hour)

Spaces link:
https://twitter.com/Bitguide_io/status/1667623023183011840?s=20

If you missed our 3.5-hour talk about ARK, the recording is available below. A technical deep dive with great questions from the audience.

https://twitter.com/Bitguide_io/status/1668067482412646401

Deflationary Process Continues

May CPI MoM only at 0.1 & YoY at 4.0%, below expectations of 4.1%.

Core CPI comes at 5.3%

Inflation peaked in June 2022

Since then goods prices have steadily declined

Services ex. shelter more or less steady

While shelter has been up since. Shelter itself is a lagging indicator and should reflect economic slowdown towards the end of the year.

The world’s biggest asset manager prepping a Bitcoin ETF

FROM THE NEWS TODAY:

JUST IN: #Binance is being investigated in 🇫🇷 France for 'aggravated' money laundering, accused of illegal services and poor checks according to reports.

The news of BlackRock's Bitcoin ETF has given a significant boost to Grayscale's ETFs. Over the past few days, GBTC has outperformed Bitcoin, narrowing its discount to NAV and currently trading near YTD highs

Germany in a really bad shape

Germans reported another drop in producer prices.

Already in technical recession, and deflationary pressures continue to build up. CPI and the labor market is to follow soon.

Just in - Invesco reactivated its Bitcoin ETF bid

The whole Bitcoin ETF space now anticipates that BlackRock app will be approved and are planning accordingly. Also GBTC Premium has jumped mightily as investors get hyped up again about ETF conversion.

The yield curve has been screaming murder for over a year now.

The more the stock market ignore the bond market, the louder the bonds scream.

Scope of yield-curve inversion has reached unprecedented levels.

Over the last 2 weeks:

1. Binance and Coinbase sued by SEC

2. USD deposits suspended at Binance after lawsuit

3. Fed stops raising interest rates for first time in 1.5 years

4. France accuses Binance of money laundering

5. Blackrock files for Bitcoin ETF

6. Citadel, Fidelity and Charles Schwab launch new #crypto exchange

7. WisdomTree and Invesco file to launch Bitcoin ETF

8. #Bitcoin hits 2 month high of $30,000

Just after the SEC announced lawsuits against Coinbase and Binance, 10+ large US firms entered the space.

(by The Kobeissi Letter)

📣 Newsletter #3 📣

Monetary Policy, Systemic Inequality, and the Sly Round-About Way to Fix it

How Centralized Monetary Policy Produces Systemic Inequality, Examples from the Housing Market, and How to Opt Out

Today’s monetary policy hinges on a simple pendulum-like model: if the economy is too slow, stimulate it. If it is red hot, cool it down. Easy, right? except, no one knows how to reliably measure the economy, what “red hot” or “too slow” mean, or how much stimulus or tightening is enough. Even if the authorities miraculously manage to keep this economic pendulum in the optimal state of rapid growth without inflation, we demonstrate the upside of the stimulus and the downside of tightening go to different groups creating systemic inequality...

Full Article on our Substack 🔗
https://bitguide.substack.com/p/monetary-policy-systemic-inequality

On Simply Bitcoin 🔗
Twitter Summary🔗

If you liked this content, follow us on Substack and Twitter.

Conference Board's Leading Economic Indicator goes even farther into recession territory.

IMF: crypto bans not effective

🤣 bro you finally got the memo?