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MARKETS DAILY: Crypto Update | Digital Assets Are 'More Sensitive' to Interest Rate Hikes: Expert
May 20, 2024
NewEdge Wealth senior portfolio manager Ben Emons discusses the trend in metals market driven by AI and the correlation between digital assets and macroeconomic conditions. Insights on portfolio allocation strategies and the possibility of a rate hike in the U.S.
13:37
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Quick takeaways
- AI development is driving demand for copper in the metals market, influencing price surges.
- There is a correlation between metals rallying, easing financial conditions, and positive impacts on the crypto market.
Deep dives
Impact of US sanctions on metals market and connection to semiconductors
The podcast discusses the impact of US sanctions on the metals market, specifically highlighting the surge in copper prices. The speaker mentions that AI development is contributing to the demand for copper as a crucial input for semiconductors in computer chips. This global macro story is driving the market, with copper outperforming traditional leaders like the S&P index.
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