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Fred Cole

An editor at FOMOdrive

  • Jun 30, 2023
  • 5 min read

Bi-Weekly Market Review - Edition #2

Blue financial market price chart

For the period 16th June - 30th June

Dear FOMOdrive community members,

Welcome to ​Edition #2​ of our ​Bi-weekly Market Review​ covering market news from ​16th - 30th June​


​BlackRock​, the world's largest asset manager, has filed for a ​Bitcoin ETF​, which could legitimise the Bitcoin market if approved by the SEC. As Europe gets ready for a potential ​digital Euro​, the BlackRock Investment Institute anticipates that ​AI-focused companies​ will significantly contribute to returns in developed markets. Meanwhile, S\&P Global has lowered ​China's GDP growth forecast​ for 2023 to 5.2%, while Fed’s Chair Powell hinted at a probable two more hikes to the Fed funds target rate.

Key events that could influence the ​markets today​ include the release of ​Euro-area inflation data​ and US personal income and spending data, alongside the ​PCE​ deflator data, the Federal Reserve's favoured inflation gauge.


BlackRock files for bitcoin ETF in push into crypto, source: Reuters

Fed Chair Powell Sees “Stablecoins as Money”, source: yahoo!finance

Europe Gets Ready for Potential Digital Euro, source: The Wall Street Journal

Binance.US Market Share Drops to 1.5% in Wake of SEC Crackdown, source: Bloomberg

Binance, SEC strike deal to keep US customer assets in country, source: Reuters

US Supreme Court rules in favor of Coinbase in arbitration dispute, source: Reuters


Nikkei clinches fresh three-decade high as BOJ stands pat, source: Reuters

Investors pour into equities to 'chase the bull', says Bank of America, source: Reuters

BlackRock says AI 'mega-force' to buck tough macro trend, source: Reuters

​Bonds and Interest Rates​

Dollar strengthens as Powell hints at more rate hikes, source: Reuters

S&P cuts China GDP forecast as calls for stimulus intensify, source: Reuters

​Learning Corner​

​Quote of the Day:​

“ The most dangerous thing is to buy something at the peak of its popularity. At that point, all favorable facts and opinions are already factored into its price and no new buyers are left to emerge.”- Howard Marks

​Educational Spotlight:​

In our continued quest for learning, we would like to share this resource with you: Stablecoins explained: An FAQ on these digital assets. This article provides a succinct overview of what ​stablecoins​ are.

We hope you found this edition of the Bi-weekly Market Review informative and useful. As always, we welcome your feedback.

Until next time. Stay informed!

The FOMOdrive Team

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