top of page

Putin's Price Hike (?)

Updated: Sep 29, 2022

GB Market Commentary 12/07/2022

by William Morris


Bitcoin finished the day in the green yesterday but has dropped around 2% today - as markets hasten losses following the much higher than anticipated CPI reading yesterday. The FTSE 100 is currently trading 1% down on the day, along with the NASQAD and S&P almost 1% down on futures markets.


Yesterday the US reported the worst inflation in 41 years, soaring to 9.1%, 30bps above consensus. The market is now predicting a 30% chance of a 100bps increase in interest rates in the US at the next FOMC meeting on July 27th. This is spooking fear across global financial markets due to a rapidly appreciating USD, coupled with major liquidity contraction and debt burdens rising rapidly. The US dollar has already achieved parity with the Euro – which is even leading some to question the ability of many southern European countries to meet their debt obligations. The Federal Reserve looks intent on keeping the pressure on, to attempt to turn around runaway inflation. While this is the case it would appear likely that there will be greater pain experienced across financial markets – adding greater strength still to the USD. For countries paying debt obligations denominated in dollars, things could get very painful over the coming months, particularly while inflation remains rampant. A global debt crisis seems increasingly plausible, arguably is even looming.


Celsius Network has filed for Chapter 11 Bankruptcy protection. In the United States this allows a business to continue operations while having no capacity to pay debts. Before halting withdrawals Celsius had accumulated more than $20bn in assets, giving depositors interest rates as high as 18%.


コメント


GB_CC_May_Digital Asset Trading_Whiteout
  • LinkedIn
  • Twitter
  • Facebook
  • Instagram
  • YouTube
  • telegram logo

GlobalBlock EU ApS is a company incorporated and registered in accordance with the applicable laws of the Kingdom of Denmark as virtual asset service provider, with registration number (CVR-number) 45126382. GlobalBlock EU ApS is wholly owned by GlobalBlock Holdings., a company registered in England and Wales with registration number 15929099 . GlobalBlock EU ApS is not a licensed financial services provider and is not supervised as such by the Danish Financial Supervisory Authority. GlobalBlock EU ApS is supervised with respect to anti money laundering by the Danish Financial Supervisory Authority within the scope of the Danish Act on Prevention of Money Laundering and Terrorist Financing and other legislation stemming thereof.

.
GlobalBlock Europe, UAB is a company incorporated and registered in accordance with the applicable laws of the Republic of Lithuania as a virtual currency depository wallet operator and virtual currency exchange operator, with registration number 306045642. GlobalBlock Europe, UAB is wholly owned by GlobalBlock Holdings Ltd., a company registered in England and Wales with registration number 15929099,  GlobalBlock Europe, UAB is not a licensed financial services provider and is not supervised by the Bank of Lithuania. GlobalBlock Europe, UAB is supervised by the Financial Crime Investigation Service under the Ministry of Interior of the Republic of Lithuania within the scope of the Law on Prevention of Money Laundering and Terrorist Financing of the Republic of Lithuania and other legislation stemming thereof.
 
Investors should be aware that cryptocurrencies are volatile investment instruments that carry a high degree of risk to the capital investment. The information in this website is not intended and should not be construed as an offer, solicitation or recommendation to buy or sell any specific investments or participate in any specific investment (or other) strategy. The products and services outlined on this website may not be suitable for all types of investors. The value of an investment can go down as well as up, and you may not get back the amount you originally invested. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary. It is your responsibility to ascertain whether you are permitted to use the services of GlobalBlock Europe, UAB based on the legal requirements in your country of residence. The information in this website is for information purposes only and is subject to change. No part of this website can be reproduced without written permission.


 Client fiat is held with GlobalBlock in accounts with BCB Limited,and does not meet the definition of Electronic Money (e-money). Client fiat and cryptocurrency are not “safeguarded” nor covered by any compensation scheme. Clients could potentially lose their cryptocurrency or fiat if something were to happen to GlobalBlock or, BCB.

Cryptoasset Notice

Cryptoasset services are provided by GlobalBlock Europe, UAB (“GlobalBlock”).   Cryptoassets are not regulated in any jurisdiction and the value of your assets can increase or decrease. You should note that your cryptoasset profits may be subject to Capital Gains Tax.

The service you obtain through the website or the app in the UK, contains cryptoasrvices not regulated by the Financial Conduct Authority. Please be aware that:

  • You will have no recourse to the Financial Ombudsman Service in the event of a complaint relating to cryptoasset services.

  • Your cryptoasset account is not protected by the Financial Services Compensation Scheme.

  • Cryptoassets may experience frequent price volatility resulting in a high degree of risk.

bottom of page