Summary
- They stated that US dollar weakness could have a positive effect on the stock market and cryptocurrency market.
- Despite the decline in the S&P 500 and Nasdaq, and Bitcoin's weakness, they reported that a positive impact on risk assets is expected.
- They added that the decline in US Treasury yields will have a favorable impact on the risk asset market.
Opinions have emerged that the weakness of the US dollar (USD) could have a positive effect on the US stock market and cryptocurrency market.
On the 10th (local time), QCP Capital stated in a report, "Yesterday, the S&P 500 and Nasdaq fell 2.7% and 3.8% respectively, and the 'Magnificent 7' set a record for the largest single-day decline ($830 billion). Bitcoin (BTC) also fell below $80,000," but added, "Despite the pessimistic market sentiment, the positive impact of dollar weakness on risk assets is expected."
QCP added, "The 10-year US Treasury yield has fallen by about 60bp," and "Along with dollar weakness, this has a favorable impact on the risk asset market."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
