Traditional Markets
Chinese growth figures surprised to the upside this morning but were still fairly disappointing. The GDP figure for the first quarter of 2019 came out at 6.4% growth, matching exactly the figure for the 4th quarter of 2018, the lowest numbers in a decade. The silver lining: analysts were expecting 6.3%.
In any case, the People's Bank of China has already been anticipating the slowdown and has been hitting the stimulus measures hard in anticipation. So the overall effect of the numbers is still pretty muted.
The Chinese index has dropped a bit today but Japan and European indices seem to be holding their own.
Earning's Season
BlackRock managed to deliver in their report yesterday, shining a bright light on the financial sector. Today we'll be looking for confirmation from Morgan Stanley, which reports before the opening bell. Netflix, on the other hand, did not do so great but their share price doesn't seem too affected in after-hours trading.
Crypto Snooze
Other than the current space cat drama on social media, which we mentioned yesterday, and of course the tokenization trend mentioned above, there doesn't seem to be a whole lot driving the crypto markets today.
Volumes have cooled down somewhat as well. Messari's real 10 shows a bit less than $0.5 billion traded on bitcoin in the last 24 hours. Bitcoin's price is holding above $5,000 and well above its 200 day moving average.
Though we do seem to be in some sort of slumber, there's really no telling how long this will last. It could take months to see another breakout, or it could happen between now and the time you read this message.
As always, please keep sending me your excellent questions, well thought out comments, and top-notch feedback. Have a wonderful day ahead!
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