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The German DAX 30 index opened 73.28 points higher, or 0.30%, at 24,755.00 on Monday, June 29th; the UK FTSE 100 index opened 18.52 points lower, or 0.18%, at 10,489.50; and the French CAC 40 index opened 10.60 points lower, or 0.13%, at 8,374.27. The Stoxx 50 index opened 4.50 points higher, or 0.07%, at 6226.05 on Monday, June 29; the Spanish IBEX 35 index opened 53.45 points lower, or 0.28%, at 19371.85 on Monday, June 29; and the Italian FTSE MIB index opened 47.15 points higher, or 0.09%, at 51312.50 on Monday, June 29.As of 3:00 PM Beijing time, spot platinum fell 0.38%, while spot palladium rose 1.62%.Spains harmonized CPI rose 0.6% month-on-month in June, below the expected 0.4% and the previous reading of 0.10%.June 29th - According to the State Administration for Market Regulation, Chinas corporate credit index was 161.53 in May, indicating that the overall credit level of enterprises remained stable. The top five industries in terms of credit index were finance, electricity, heat, gas and water production and supply, residential services, repair and other services, water conservancy, environment and public facilities management, and manufacturing. Among them, the residential services sector saw the largest increase in the index, entering the top five for the first time this year. The culture, sports and entertainment industry also saw a slight increase in its index score, indicating continued strengthening of its credit resilience.Spains preliminary CPI monthly rate for June was 0.6%, below the expected 0.4% and the previous value of 0.10%.

Crypto Assets Shed $800 Billion in Market Value in A Month

Skylar Shaw

May 11, 2022 10:34

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According to statistics site CoinMarketCap, crypto assets have lost about $800 billion in market value in the last month, reaching a low of $1.4 trillion on Tuesday, as the end of free monetary policy dampens desire for risk assets.


Bitcoin, which accounts for roughly 40% of the cryptocurrency market, fell to a 10-month low on Tuesday before rebounding to $31,450, only six days after hitting $40,000. It was down more than 54% from its all-time high of $69,000 on November 10th.


Prices of digital assets have fallen, reflecting a drop in stocks on worries of aggressive interest rate rises throughout the world to combat decades-high inflation. The Nasdaq, which is heavily weighted in technology, was down 28% from its all-time high in November 2021.


According to CoinMarketCap, the total crypto market worth was $2.2 trillion on April 2, down from an all-time high of $2.9 trillion in early November.


"Bitcoin remains closely tied to larger economic circumstances, implying that the road ahead may regrettably be bumpy, at least for the time being," stated blockchain data firm Glassnode in a note.


Investors were also alarmed by signs of weakness in stablecoins, which are normally a safer crypto currency. TerraUSD, the fourth-largest stablecoin in the world, lost a third of its value on Tuesday after losing its dollar peg.


According to a study issued on Monday by digital asset management Coinshares, despite bitcoin's price drop, funds and products related to it saw inflows of $45 million last week as investors took advantage of market weakness.


"An enormous amount of liquidity has inflated some of these cryptocurrencies," said Nordea Asset Management's senior macro analyst, Sebastien Galy. As various central banks tighten their monetary policies, he expects crypto, which is also tied to high-growth equities, will face pressure.

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