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MM.Finance is a decentralized exchange build on Cronos, then the protocol expand to Polygon and Arbitrum, and develop lending market, Launchpad and other functions.
Analyst: Market has ample "dry powder," but entry may require rate cuts as trigger; S&P 500 and money market fund assets rise in tandem
: Eric Balchunas, Senior ETF Analyst at Bloomberg, stated that the S&P 500 is currently at historical highs, while money market fund (MMF) assets have also hit record levels. This contrast of "both stocks and cash at highs" is stark, but for bulls, it means there is still plenty of "dry powder" that has yet to enter the market. A significant return of funds to the stock market may only occur when interest rates fall below 3%, as in the current 4% yield environment, investors prefer holding stable net asset value money market funds with no drawdown risk over bond ETFs.Balchunas believes that the substantial drawdown in the bond market in 2022 (e.g., AGG fell by about 13%) eroded investor confidence in traditional bonds, leading money market funds to partially replace traditional bond allocations. Additionally, macroeconomic uncertainties in the U.S. (including factors related to Trump's policies) have further exacerbated capital's wait-and-see sentiment.
Bloomberg Analysts: S&P 500 and MMF Rise in Sync, Market "Bullets" Ample but Entry May Require Rate Cut Trigger
Bloomberg Senior ETF Analyst Eric Balchunas posted on platform X stating that the S&P 500 Index is currently at historical highs, while Money Market Fund (MMF) assets have also hit record highs. This structure of "both stock market and cash at highs" forms a sharp contrast, but for bulls, it means there is still a large amount of "dry powder" yet to enter the market.
Related news
Japan's Ministry of Finance Establishes "On-chain Response Research Committee" to Advance Exploration of Instant Government Bond Settlement
According to Reuters, Japan's Ministry of Finance announced on September 30 the establishment of the "On-Chain Research Group," focusing on the feasibility of real-time settlement for government bond transactions, with its inaugural meeting scheduled for October 8. The group will systematically outline the advantages and disadvantages of blockchain-based instant settlement relative to current T+1 settlement conventions. Members will include professors from academic institutions such as the University of Tokyo and Waseda University, alongside private sector strategists, and will involve the Bank of Japan and the Financial Services Agency to participate in exchanging views. A senior official at the Ministry of Finance noted that existing U.S. MMF products backed by government bonds and traded on blockchain will serve as important reference cases. The research group plans to consolidate its findings on the topic by the end of the year.
Analyst: Market has ample "dry powder," but entry may require rate cuts as trigger; S&P 500 and money market fund assets rise in tandem
: Eric Balchunas, Senior ETF Analyst at Bloomberg, stated that the S&P 500 is currently at historical highs, while money market fund (MMF) assets have also hit record levels. This contrast of "both stocks and cash at highs" is stark, but for bulls, it means there is still plenty of "dry powder" that has yet to enter the market. A significant return of funds to the stock market may only occur when interest rates fall below 3%, as in the current 4% yield environment, investors prefer holding stable net asset value money market funds with no drawdown risk over bond ETFs.Balchunas believes that the substantial drawdown in the bond market in 2022 (e.g., AGG fell by about 13%) eroded investor confidence in traditional bonds, leading money market funds to partially replace traditional bond allocations. Additionally, macroeconomic uncertainties in the U.S. (including factors related to Trump's policies) have further exacerbated capital's wait-and-see sentiment.
Bloomberg Analysts: S&P 500 and MMF Rise in Sync, Market "Bullets" Ample but Entry May Require Rate Cut Trigger
Bloomberg Senior ETF Analyst Eric Balchunas posted on platform X stating that the S&P 500 Index is currently at historical highs, while Money Market Fund (MMF) assets have also hit record highs. This structure of "both stock market and cash at highs" forms a sharp contrast, but for bulls, it means there is still a large amount of "dry powder" yet to enter the market.