QuantCapAfter a spike higher overnight, interest rates are dipping ahead of tomorrow's key U.S. employment report.
Jobless claims continue to show no stress in labor market
Initial jobless claims edged lower to 197,000 last week, according to a just-released government report. That’s down from 198,000 previously and just below market forecasts for 200,000.
The four-week average dipped to 200,000 from 202,500.
Twenty-four hours from now, markets will get the government’s Nonfarm Payrolls Report for September, with economists expecting 90,000 jobs to have been added and the unemployment rate to hold at 4.1%.
Bitcoin treading water as fourth quarter gets underway
Bitcoin BTC$83,894.85 rose 42.7% in the third quarter, its best quarterly performance since jumping 68.7% in the first quarter of 2024. Ether ETH$2,704.34 rose 70.8%, its best result since soaring 160.7% in the first quarter of 2021.
Both cryptos are about flat on the first day of the fourth quarter, with bitcoin just under $84,000 and ether just above $2,700.
Interest rates have become the big macro story, with the U.S. 10-year Treasury yield touching yet another 24-year high overnight at 5.362%. It’s since pulled back to 5.282% as bearish traders likely hedge bets ahead of tomorrow’s U.S. Nonfarm Payrolls Report for September.
Economist forecasts are for the U.S. to have added 90,000 jobs last month and the unemployment rate to hold at 4.1%.
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The Definitive Stablecoin Landscape Series: Asia Pacific
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
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