News

In the past quarter, the boost to U.S. corporate earnings from a weaker dollar has been "far below normal levels." The buyback yield of U.S. stocks is currently only on par with global peers and lower than that of the UK, which impacts capital flows, corporate earnings, and valuations. Strategists noted that communications with clients indicate "a clear shift of funds toward global markets, and ETF fund flows also confirm this." 45% of recent fund flows have gone to equity markets outside the United States. UBS stated that it has not yet underweighted U.S. stocks, "but the risk of underperformance appears higher than the likelihood of outperformance."

Due to concerns over credit stress, a higher-than-expected U.S. January Producer Price Index (PPI), and escalating tensions between the U.S. and Iran, investor risk aversion has intensified. Bitcoin has fallen below $66,000, erasing most of its mid-week gains. Major cryptocurrencies and related stocks have declined along with the overall market risk-off sentiment, while widening credit spreads and a sharp drop in private equity firms have further heightened concerns over credit stress.

MarketVectorTM Digital Assets 100 Mid-Cap Index remained flat at 2729.18 points, with a cumulative decline of 0.98% during the period. The MarketVector Digital Assets 100 Index fell by 1.79% to 13211.10 points, with a cumulative decline of 3.28% during the period. Currently, Solana is down 5.30%, with a cumulative decline of 3.44% during the period; Dogecoin is down 3.44%, with a cumulative decline of 6.62% during the period; XRP is down 3.35%, with a cumulative decline of 4.86% during the period. Bitcoin is down 2.87%, currently quoted at $65,572, with a cumulative decline of 3.48% during the period, trading in the range of $62,557.30 to $69,986.69; Ethereum is down 4.87%, currently quoted at $1,929.83, with a cumulative decline of 2.03% during the period, trading between $1,801.920 and $2,147.820.