In today’s briefing:
- BTC Bull Run Preempts Other Digital Assets
- CX Daily: China’s Family-Run Businesses Face Succession Issues
- EA: Doves Near Inflation’s Trough
BTC Bull Run Preempts Other Digital Assets
- Bitcoin price has increased 20% over the past week anticipating the imminent approval of a spot Bitcoin ETF.
- Bitcoin has outperformed other digital assets over the past year. Dominance has reached a two-year high.
- BTC-ETH ratio is expected to continue rising after a near-term pullback due to ETF approval and relative safety providing strong tailwinds to BTC.
CX Daily: China’s Family-Run Businesses Face Succession Issues
- Family / Cover Story: China’s family-run businesses face succession issues
- China-U.S. /: China, U.S. ‘working together’ on Biden-Xi meeting at APEC next month
- Personnel /: Communist Party names new economic czar
EA: Doves Near Inflation’s Trough
- EA inflation plummeted by 1.4pp to 2.9% in Oct-23, 0.2pp beyond the consensus and within 0.1pp of our forecast again. But it is close to views prevailing since February.
- The downside news concentrated on energy prices, as we expected, while the core matched forecasts by falling 0.3pp to 4.2%. National surprises broadly skewed lower.
- We still expect a much smaller slowing in November before temporarily jumping into yearend. Recent downside news should encourage the ECB as it resists hiking again.
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