📈 Stocks / Finance

Contrarian shorts target hyped assets amid market anomalies

Wccftech

Martin Shkreli suggests shorting Bitcoin, MicroStrategy, and quantum computing stocks amid a peculiar market. With the Dow declining for nine consecutive days, mirroring 1978, and S&P 500 breadth eroding, his contrarian stance highlights skepticism toward overhyped assets.

Diverging cash trends in US and Europe

Reuters

Global cash allocations have hit a low, with European asset managers driving the decline amid aggressive ECB and SNB rate cuts. Meanwhile, US money market funds have reached a record $6.77 trillion, highlighting investor confidence in US markets despite rising equity exposure and reduced Fed rate cuts.

Existing home sales hit 19-month high

Business Wire

Existing home sales rose 0.7% in November to an annualized 4.27M, up 4.5% YoY, the highest since March 2023. Median sale prices rose 5.4% YoY to $430,107, driven by constrained supply. Rising demand followed reduced election uncertainty, despite 30-year mortgage rates averaging 6.81%.

🪙 Crypto

Bitcoin options signal increased fear amid hawkish Fed policy

CoinDesk

Bitcoin’s seven-day put options skew hit a three-month high as traders hedge against continued price declines following the Fed’s hawkish tone. Rate cuts for 2024 were revised to two from four, weakening bullish sentiment and driving BTC below $99,000 before a modest recovery.

🌎 Global Economy

Trump's economic policy stirs global market reactions

Yahoo Finance

The global economy braces for uncertainty as Trump’s administration looms. The Fed projects higher growth and inflation, while dialing back rate cut expectations, citing policy uncertainty. Canada sees political upheaval over tariff concerns, and crypto markets dip amid regulatory doubts.

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