Inflationary Calm, PR Crypto by Ray Dalio

26 במאי 2021

From the point of view of macroeconomic statistics, the main news of yesterday was the data on GDP in Germany for the first quarter. The data released were even slightly worse than analysts' forecasts. But in general, nothing unexpected - Europe is in recession.

But this did not in the least confuse the buyers of risky assets. Some correction in the commodity markets, coupled with comments from the world's leading central banks, from Christine Lagrade to Fed officials, reassured the markets on inflation. The current consensus among central banks is as follows: it is too early to tighten monetary policy, and the incoming inflationary signals are a temporary anomaly, and in general it is necessary to save the economy, and then deal with inflation.

Stock markets reacted to this with growth, but the cryptocurrency market was rather dull. Even despite the more than aggressive comments from the head of Bridgewater Associates billionaire Ray Dalio, who said that it is better to invest in Bitcoin than in bonds. Quite frankly, an unexpected statement. Hearing something like that from all sorts of hypo-eaters like Mask and Cuban is one thing, but Ray Dalio seemed to be another. But in fact, no, the same thing. The funny thing is that he said this at the moment when bitcoin was quoted at 57K. In the light of the current 35-40K, there is a feeling that Dalio has had a severe form of COVID-19 and his thinking abilities have dramatically subsided.

Oil, meanwhile, is rising amid fears that the US-Iran deal will fail. In our opinion, this is a good opportunity for more expensive sales, since fears today may be replaced by a deal “tomorrow”.