RECESSION WATCH, Economic Update, & SOFR Trouble
The Bitcoin Layer
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Labor Market Dynamics and Economic Indicators Impacting Bitcoin
This chapter explores labor market trends in the face of economic uncertainty, focusing on the quits rate as a key indicator. It also examines the impact of Federal Reserve policies on the economy, including potential influences on Bitcoin and critical economic metrics like manufacturing and inflation.
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In this episode, Nik recaps the day in economic data and financial markets, including a look at JOLTS and the slowing labor market, weak ISM manufacturing data and prices, and the repo market. In the most important financial development of the day, elevated SOFR volumes and repo rates confirm there is some scarcity in the money markets. We believe this type of calendar activity may signal an end to QT very soon. Catch up on Treasury yields and money markets with this timely global macro update.
The Bitcoin Layer is a bitcoin and global macroeconomic research firm.
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