Finance

Warsh\'s second U.S. FOMC as oil back above $100 revives rate-hike expectations

Markets are factoring in the possibility that Federal Reserve Chair Kevin Warsh could raise the policy rate at this week’s meeting. Oil prices have climbed above $100 a barrel as fighting between Iran and the United States resumes, reviving concerns about energy-driven inflation. Rate-hike odds priced in by futures markets have risen sharply, while bond selling has pushed long-term yields higher in the United States and Europe. Strong U.S. jobs data and inflation still above the Fed’s target are also weighing on expectations.

Crypto

Bitcoin spot ETF trading slows sharply, Ethereum sees stronger net inflows

Weekly turnover in bitcoin spot exchange-traded funds over five trading sessions fell to its lowest level since October 2024, while ethereum spot ETFs drew larger net inflows. Bitcoin spot ETFs posted $33.8 million of weekly net inflows, but late-week outflows erased most midweek gains. Ethereum spot ETFs recorded $103.9 million of net inflows and have outpaced bitcoin in inflows for two consecutive weeks, despite much smaller total assets.