Data-Driven Analysis of Cryptocurrency Markets, Kaiko

Kaiko

Data-Driven Analysis of Cryptocurrency Markets

Kaiko is the leading cryptocurrency market data provider for institutional investors and enterprises. We empower market participants with accurate, transparent, and actionable financial data to be leveraged for a range of market activities. Kaiko’s mission is to be the foundation of the new digital finance economy by serving as a single source for market information. Our mission is premised on the idea that high-quality data drives market efficiency and greater transparency throughout the industry. For each of our enterprise clients, we build custom data plans designed for a range of use cases.

Crypto

<ul><li>In 2020 and 2021, investors opted for TIPS over conventional bonds, yet over the past year, they have moved the other way.</li><li>The TIPS ETF has fallen from $40bn of assets to $20bn, while the long bond ETF has doubled from $15bn to $30bn.</li><li>The loud and clear message from this shift is that investors are woefully unprepared for an inflation shock.</li></ul>

In 2020 and 2021, investors opted for TIPS over conventional bonds, yet over the past year, they have moved the other way.The TIPS ETF has fallen from $40bn of assets to $20bn, while the long bond ETF has doubled from $15bn to $30bn.The loud and clear message from this shift is that investors are woefully unprepared for an inflation shock.

When Bond Yields Exceed 4%, UK Governments Fall

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Nasdaq-100 Stock Index / Technical Analysis

<ul>
<li>In last week's Compass (Feb. 22) we discussed our belief that a pullback has begun, and signs continue to point to more downside ahead on the broad market indexes</li>
<li>There has been four failed attempts to reclaim $190 on the Russell 2000 (IWM) and $297 on the Nasdaq 100 (QQQ) over the last five trading days.</li>
<li>These remain important lines in the sand moving forward. Attractive stocks: TPX, LZB, SNBR, ETD, HOFT, FLXS, KEX, SBLK, CMRE, DAC, EGLE, GNK, ASC, GSL, DSX, SB, NM, EURN, more</li>
</ul>


In last week's Compass (Feb. 22) we discussed our belief that a pullback has begun, and signs continue to point to more downside ahead on the broad market indexes
There has been four failed attempts to reclaim $190 on the Russell 2000 (IWM) and $297 on the Nasdaq 100 (QQQ) over the last five trading days.
These remain important lines in the sand moving forward. Attractive stocks: TPX, LZB, SNBR, ETD, HOFT, FLXS, KEX, SBLK, CMRE, DAC, EGLE, GNK, ASC, GSL, DSX, SB, NM, EURN, more


Signs Point to More Downside Ahead; Breadth Deteriorating; Buys in Home Furnishings and Shippers

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>Core PCE increased 6.9%MoM (annualized) in Jan'23, and hence was up 4.71%YoY, moving further away from the FOMC's 2%YoY target (rather than edging towards it as had been expected). </li>
<li>M2 growth averaging 18.2%YoY in Mar'20-Feb'22 (vs a pre-Covid average of 6.8%YoY in the previous 60 years) is the cause. FedFunds must rise to 5.5% by May'23 to compensate.</li>
<li>Severely inverted yield curve indicates that a recession (from Q2CY23 onward) will also help generate slack, taming inflation. Any delay in recession's onset will entail even more rate hikes. </li>
</ul>


Core PCE increased 6.9%MoM (annualized) in Jan'23, and hence was up 4.71%YoY, moving further away from the FOMC's 2%YoY target (rather than edging towards it as had been expected). 
M2 growth averaging 18.2%YoY in Mar'20-Feb'22 (vs a pre-Covid average of 6.8%YoY in the previous 60 years) is the cause. FedFunds must rise to 5.5% by May'23 to compensate.
Severely inverted yield curve indicates that a recession (from Q2CY23 onward) will also help generate slack, taming inflation. Any delay in recession's onset will entail even more rate hikes. 


US: Inflation Shock Implies More Rate Hikes Needed Even as Recession Looms

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>The WTR Sustainable Index underperformed the broader market, falling 4.9% W/W versus the S&amp;P 500 Index (down 2.7%), the Russell 2000 Index (down 2.9%), and the Nasdaq Composite Index (down 3.3%).</li><li>Advanced Transportation Solutions (70.2% of the index) drove the underperformance, falling 6.0% , while Energy Technology (8.3% of index) was down 5.4% and Industrial Climate and Ag Technology was down 1.9%.</li><li>Top 10 Performers: NNOMF, LMRMF, VMC.V, APPH, FIX, AROC, LOOP, KTOS, CUBXF, TPIC</li></ul>

The WTR Sustainable Index underperformed the broader market, falling 4.9% W/W versus the S&amp;P 500 Index (down 2.7%), the Russell 2000 Index (down 2.9%), and the Nasdaq Composite Index (down 3.3%).Advanced Transportation Solutions (70.2% of the index) drove the underperformance, falling 6.0% , while Energy Technology (8.3% of index) was down 5.4% and Industrial Climate and Ag Technology was down 1.9%.Top 10 Performers: NNOMF, LMRMF, VMC.V, APPH, FIX, AROC, LOOP, KTOS, CUBXF, TPIC

Weekly Sustainable Investing Surveyor: Week Ended February 24, 2023

Senior Equity Derivatives Trader

Simon Harris

Event-Driven

<ul>
<li>European markets have begun to outperform their US peers over last few months</li>
<li>The differences in market sentiment have driven both the implied and realised vol spread wider </li>
<li>Trade a relative vol spread that should hold up in multiple market scenarios</li>
</ul>


European markets have begun to outperform their US peers over last few months
The differences in market sentiment have driven both the implied and realised vol spread wider 
Trade a relative vol spread that should hold up in multiple market scenarios


EQD | SPX Vs SX5E: Trade a Relative Value Vol Spread

United States

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

S&P 500 INDEX (SPX INDEX)

When Bond Yields Exceed 4%, UK Governments Fall

In 2020 and 2021, investors opted for TIPS over conventional bonds, yet over the past year, they have moved the other way.

Kaiko

Signs Point to More Downside Ahead; Breadth Deteriorating; Buys in Home Furnishings and Shippers

Signs continue to point to more downside ahead on the broad market indexes with 4 failed attempts to reclaim $190 on $IWM and $297 on $QQQ over the...