The global macro picture is shifting. U.S. equities saw a mixed performance as concerns over rising inflation and geopolitical tensions weighed on investor sentiment. The DIA declined by 0.60%, while the SPY edged down 0.13%. The IWM also saw a slight dip, decreasing by 0.20%. The QQQ remained relatively flat with a decrease of 0.01%.
Turkey's central bank held interest rates steady, citing the war's impact on energy prices despite a relatively flat underlying inflation trend in February. This decision reflects a cautious approach amid growing concerns about the potential for increased inflationary pressures stemming from geopolitical instability. Rising oil prices, influenced by the ongoing conflict, are adding to the uncertainty, with Wall Street bracing for potentially prolonged high prices.
In Asia, Metaplanet, a prominent Bitcoin holder, is expanding its BTC strategy by launching a new venture arm with a $25 million commitment to support Bitcoin ecosystem development in Japan. This move signals a growing interest in digital assets and blockchain technology in the region, even as traditional markets grapple with macroeconomic challenges. The February CPI inflation report remained steady, but forecasts suggest March may see higher prices due to the oil shock.
Macro regimes don't change overnight—but when they do, it matters.