Relationship between the price of Bitcoin and its cost of production.
Archives of “January 5, 2021” day
rssOn average, analysts expect the S&P 500 to end 2021 above 4,000 points.
Excitement for convertible bonds is back.
Only 5 ETFs manage 27% of the capital allocated to this type of asset.
For the oil traders – the OPEC+ meeting resumes again from 1430GMT
The Monday meeting dragged on until it was clear there would be no conclusion, so it is to continue Tuesday.
Adam had the heads up earlier:
- OPEC to extend meeting until tomorrow – will start at 15:30 Vienna time.
The long story short is the two big players:
- Saudi Arabia argued against more output citing demand drop from new lockdowns
- Russia led calls for higher production, citing recovering demand
US Treasury to allow US banks to use blockchain settlement
The US Office of the Comptroller of the Currency (OCC) is the federal banking regulator and an independent bureau within the United States Department of the Treasury.
Issued an interpretative note on January 4:
- Federally regulated banks can use stablecoins to conduct payments, other activities
- could participate in blockchain networks – can participate as nodes on a blockchain and store or validate payments
The note from the OCC is here, link for more detail.,
BTC update, rallying since this news hit a couple of hours ago:
PBOC sets the USD/ CNY reference rate for today at 6.4760 (vs. Monday at 6.5408)
People’s Bank of China set the onshore yuan mid-rate for the trading session ahead.
No let-up from the central bank in China in confirming the strength of the yuan. Huge move stronger, six and a half big figures! (648 points)
Reuters estimate from their survey was 6.4978, Bloomberg 6.4761
PBOC inject 10bn yuan through 7-day RRs in open market operations
- 140bn mature today
- thus a net drain of 130bn
Japanese media with reports the government is considering a complete ban on all foreign arrivals
A suspension of arrivals from offshore, all arrivals (ie Japanese citizens included in the ban) is under consideration
Info from Asahi, via Bloomberg
Yesterday we got news Japan is considering declaring a state of emergency in Tokyo and 3 surrounding prefectures.
US President (elect) Biden says a win for Democrats in Georgia will end the block on $2,000 check
Biden campaigning for Democrat Seante contenders Ossoff and Warnock:
“Their election will put an end to the block in Washington on the $2,000 stimulus check.”
(as a ps., Goldman Sachs is projecting an additional $600bn of stimulus in the event of a win for both of these candidates.)
Most countries today have failed, all but ensuring that COVID-19 will remain with us over 2021
Here’s a piece from Market Watch that is a sobering take on the wishes for a Happy New Year on emergence from the pandemic.
Its from William Haseltine, a past professor at Harvard Medical School and Harvard School of Public Health and founder of its Division of Biochemical Pharmacology and Division of Human Retrovirology.
Obviously, his expertise is not in the same league as a failed NY property developer but successful reality TV star, but its worth checking out.
- Despite its virulence, many simply assume that the pandemic will end sometime in 2021. But such hopes are misplaced. Controlling an epidemic involves four fundamental components: leadership, governance, social solidarity, and a medical tool kit. Most countries today have failed on the first three, all but ensuring that COVID-19 will remain with us over the next year.
