WTI crude oil closed above $100 per barrel for the first time since 2002.
Stocks and crypto prices each gave up early gains even as Federal Reserve Chairman Jerome Powell eased any concerns about imminent rate hikes. Powell said the Fed is inclined to look past the Iran-related energy shock for now and hold rates steady.
The teetering bond market received some good news on Monday, but it wasn't enough to offset a continued surge in oil prices, which sent U.S. stocks lower and crypto giving up most of its gains., Federal Reserve Chairman Jerome Powell said the U.S. central bank — for the moment — is looking past short-term oil price shocks and focusing on inflation expectations that remain "well anchored." His comments helped soothe a bond market that had begun to seriously price in the chance of an imminent Fed rate hike. The U.S. 10-year Treasury yield fell nine basis points Monday to 4.35%, and the 2-year yield slid eight basis points to 3.83%. Sizably higher early on Monday, U.S. stocks nevertheless gave up those gains, the Nasdaq closing lower by 0.75% and the S&P 500 by 0.4%. BitcoinHurting sentiment in risk assets was a continued rise in the price of oil. WTI crude rose 5.3% on Monday to just shy of $105 per barrel. While WTI has traded above $100 since the Iran war broke out, it hadn't closed above that level since 2022. “We will eventually maybe face the question of what to do here," said Powell. "We’re not really facing it yet because we don’t know what the economic effects will be."As stablecoins evolve into core financial infrastructure, North America leads. This report maps the regulation, market shifts, and players driving adoption.Stablecoins are entering their third phase of evolution - the institutionalization era - becoming increasingly embedded into core financial infrastructure. As institutions prioritize transparency and compliance, regulated issuers like USDC, RLUSD, and PYUSD are steadily gaining share with RLUSD surpassing $1B in market cap within its first year. North America, leading in regulatory frameworks and institutional distribution, is at the center of it all.5 minutes ago
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