The bond market has been in a sell-off as traders await the upcoming US non-farm payrolls (NFP) data. The 30-year treasury yield has jumped to 4.90% and the 10-year to 4.80%, leading to a retreat in American equities. Cryptocurrencies have held up well during this time, with the total market cap of all coins remaining at $1.09 trillion. Bitcoin has held steady above $27,000 while tokens like Toncoin, Trust Wallet, and Aave have jumped by more than 5%. The US NFP data will have a major impact on all other assets like commodities, stocks, and cryptocurrencies. Rising bond yields point to a potential recession, which explains why key commodities like crude oil and soybeans have plunged in the past few weeks. Shiba Memu, a meme coin that seeks to dethrone Shiba Inu and Dogecoin, is also thriving. Investors have poured over $3.65 million in its ongoing token sale. Shiba Memu is different from Pepe and Shiba Inu since the developers aim to incorporate utility in its ecosystem. It is important to be cautious when investing in tokens, as there are risks involved. It is recommended to only invest funds that you can lose comfortably.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 🇯🇵 🇬🇧 |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | None |
| Companies | Aave, Trust Wallet, Shiba Memu, US non-farm payrolls (NFP), ThorChain |
| Currencies | Toncoin, Aave, Stacks, Cardano, Ethereum, Trust Wallet, Shibalana, Bitcoin, THORChain |
| Securities | None |
