FAST FIVE: Bulls Give Thanks As Big-Tech, Bonds, Bitcoin, & Bullion Bounce

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Putting it all together, Fed rate trajectory expectations shifted dovishly with the terminal rate falling and subsequent rate-cut expectations rising.

Source: Bloomberg Notably Bitcoin has rallied back above $16,600, erasing the losses from the FTX Hacker dumps.

Source: Bloomberg Gold gained on the day, despite a spike lower on the 'good' durable goods print, back to unchanged on the week.

Source: Bloomberg Oil prices were the odd ones out as they fell after reports of discussions around the Russian oil price cap farce.

But, we note that skew is starting to rise, suggesting a bid for downside protection Source: Bloomberg It seems that upside FOMO-crash hedges are being unwound (downward pressure on VIX) as investors rotate to downside fears.

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