Bi-Weekly Market Review for Employee Shareholders - Edition #11
For the period 1st-15th November
Dear FOMOdrive community members,
Welcome to Edition #11 of our Bi-weekly Market Review 
covering the major market news from 1st- 15th November 
.
Major Market News
Crypto
- BlackRock announced that it was not intending to launch an XRP ETF after a fake regulatory filing began circulating on social media, sending XRP prices up 10% (Coindesk 14 November)
- Michael Saylor’s massive bitcoin bet crosses $1B in unrealised profit (Coindesk 13 November)
- BlackRock files for spot ethereum ETF to further crypto push (Reuters 16 November)
- Robinhood plans to start EU crypto trading and UK brokerage operations in the coming weeks (Coindesk 8 November)
- Former FTX CEO Sam Bankman-Fried Found Guilty On All Criminal Fraud Charges (Investing.com, 3 November)
- 86% of Tether’s (USDT) reserves were held in cash and cash equivalents in Q3, according to Tether (Bloomberg, 1 November)
Equities
- Markets price an end to interest rates hikes across the world (Bloomberg 10 November)
- US stocks rose again for their longest winning streak since November 2021 (Forbes 7 November)
- WeWork once valued at $47B file for bankruptcy (CNBC 6 November)
- US stocks jumped for their best day since June as investors bet that the Fed was done raising rates for 2023 (Reuters 2 November)
Bonds and Interest Rates
- Goldman Sachs, Morgan Stanley diverge on Fed rate-cut forecasts (Bloomberg 13 November)
- Yields jump, stocks fall as Powell suggests higher rates possible (Reuters 10 November)
- Credit card balances spiked in the third quarter to $1.08T record (CNBC 8 November)
Commodities and FX
- Gold advances as yields, dollar slip after US inflation data (Reuters, 14 November)
- Oil prices fall on worries of waning demand in US and China (NASDAQ 13 November)
- US crude oil prices fall below $78 a barrel to their lowest since July (CNBC 8 November)
Quote of the Day:
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future."— Carlos Slim Helu
Until next time. Stay informed!
The FOMOdrive Team
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