Crypto Index Tracker: Crypto Bounces on Generic Risk Bid
- By Bilal Hafeez and Dalvir Mandara
- 3 min read
The US CPI undershoot gave risk assets another boost on expectations that the worst may be over for inflation. We disagree on the basis that core inflation continues to climb and that the MoM stability was almost exclusively down to energy price moves. The market, however, is pricing the situation more like a sign that Fed hawkishness may be fading. The consequent generic risk asset bid fed into crypto markets, with all the indices we track up on the week (Charts 1 and 2).
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