BIG: SEC Chair Paul Atkins unveils “Project Crypto”, a commission-wide push to modernize securities rules and move U.S. financial markets on-chain.
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Something does not add up here:
The difference between the share of Americans saying that jobs are plentiful and those saying they are hard to get declined to 11.3%, the lowest in 8 years outside of 2020.
US consumers' pessimism about the labor market has been steadily rising over the last 3 years.
In previous business cycles, this measure has been a leading indicator of rising unemployment.
It now suggests that the unemployment rate could exceed 6% in the coming months.
Meanwhile, job market headlines continue to highlight robust job creation.
Why is there such a sharp disconnect between the data and reality?
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The difference between the share of Americans saying that jobs are plentiful and those saying they are hard to get declined to 11.3%, the lowest in 8 years outside of 2020.
US consumers' pessimism about the labor market has been steadily rising over the last 3 years.
In previous business cycles, this measure has been a leading indicator of rising unemployment.
It now suggests that the unemployment rate could exceed 6% in the coming months.
Meanwhile, job market headlines continue to highlight robust job creation.
Why is there such a sharp disconnect between the data and reality?
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#BREAKING: Watch as a newly released propagation animation reveals how the tsunami, triggered by a powerful 8.8-magnitude earthquake, surged across the entire Pacific Ocean prompting tsunami warnings in multiple regions
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JUST IN: Trump orders pharmaceutical companies to lower prices within 60 days or "every tool" will be used against them.
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Idk who that is on the right but even with make up and filters, that's a HELL NO from me dawg
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JUST IN: White House says Trump supports banning Congress from trading stocks.
"Banning members of Congress from trading stocks is a thing because of Nancy Pelosi…She makes $174k a year yet she has a net worth of approximately $413 million."
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"Banning members of Congress from trading stocks is a thing because of Nancy Pelosi…She makes $174k a year yet she has a net worth of approximately $413 million."
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The stablecoin boom:
Stablecoins now hold $149 billion in US Treasuries and making them the 18th-largest external holder.
These holdings have risen by ~$58 billion, or +64%, since Q1 2023.
Over the same time period, the market cap of stablecoins has doubled to a record ~$240 billion.
If the USD-based stablecoin market continues to rise, it will significantly increase demand for US Treasury bills, according to Apollo.
In other words, stablecoins may become a significant buyer of US government debt.
Crypto may be the answer for lower yields.
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Stablecoins now hold $149 billion in US Treasuries and making them the 18th-largest external holder.
These holdings have risen by ~$58 billion, or +64%, since Q1 2023.
Over the same time period, the market cap of stablecoins has doubled to a record ~$240 billion.
If the USD-based stablecoin market continues to rise, it will significantly increase demand for US Treasury bills, according to Apollo.
In other words, stablecoins may become a significant buyer of US government debt.
Crypto may be the answer for lower yields.
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