The last few days were packed with macroeconomic, geopolitical and crypto news! Last week, the Dow Jones Industrial Average, S&P 500 Index, and Nasdaq Composite climbed to record highs, with the Dow crossing the 40,000 threshold for the first time, as inflation and interest rate worries appeared to dissipate after new CPI data showed slower than expected inflation in the US. Moreover, Bloomberg reported that stock markets are on a record-hitting spree worldwide, with 14 of the 20 biggest markets at or near record highs, from NY to London to Tokyo. With fewer obstacles in sight, this rally looks all set to keep rolling. On the geopolitical front, the International Criminal Court has requested arrest warrants for Israeli Prime Minister Benjamin Netanyahu, Hamas leader Yahya Sinwar, and others on war crimes charges stemming from Hamas’s Oct. 7 attack and Israel’s response in Gaza. Europe had its first major assassination attempt on a political leader in more than 20 years, as Slovakia's Prime Minister Robert Fico remains in a serious but stable condition a few days after an assassination attempt that sent shock waves across the continent. Iranian President Ebrahim Raisi and Iran’s foreign minister were found dead at the site of a helicopter crash in a remote northwestern region of the country. Raisi’s death will “set off a fierce scramble for power” in the Islamic Republic, The Atlantic writes. On the crypto front, ETH is up by 22% since Monday, trading above $3700, fueled by reports from Bloomberg ETF analysts that the ETH ETFs could be approved on May 23rd, increasing their odds from 25% to 75%. The approval of an ETH ETF is seen as an increasingly political issue, especially after the move to overturn the SEC's SAB 121 ruling about crypto custody passed the House and Senate. The news sent Open Interest for Ether futures on CEXs to new highs, hitting $14 bn. In addition, it was reported that Fidelity has amended its S-1 filing with the SEC, indicating that it will not stake ether in its proposed spot ETF [...] 👉 Link to this week's crypto newsletter, covering all this and more: https://lnkd.in/ehbivBuY SUN ZU Lab
