Search results for Robin Brooks
Crypto
Bond markets wobble but bitcoin stays calm as Japan 10-year yield tops 3 percent
Bitcoin traded around $77,000 without a clear direction as long-term government bond yields surged in Japan and the United States. Japan’s 10-year yield reached 3 percent for the first time since 1996 and the 30-year yield topped 4.18 percent. U.S. 10-year yields rose to 4.78 percent. Markets focused on a U.S. Treasury plan to expand bond buybacks, policy constraints in Japan and the United States, and commentary on dollar liquidity.
Crypto
Bitcoin hits August high overnight as focus turns to U.S. CPI and PPI this week
Bitcoin rose to an August high near $65,420 ahead of the weekly close, shifting market attention to U.S. inflation data due this week. July CPI and PPI are scheduled for release on Aug. 12 and 13, after both came in below expectations last month. Analysts pointed to shifting expectations for a Fed rate hold in September. The article also highlights yen intervention, technical resistance near $65,800, mixed on-chain signals and weak spot market activity.
Crypto
Prominent economist says bitcoin is not a safe haven asset, cannot hedge currency debasement
Arguments have resurfaced that bitcoin is difficult to view as a safe haven like gold or as a store of value. As bitcoin has recently underperformed gold and other precious metals, questions have also been raised about its role as a hedge against currency value declines. Brookings Institution senior fellow Robin Brooks said bitcoin was not a safe haven asset, while Bitwise Alpha Strategies head Jeff Park argued that bitcoin’s response should be assessed alongside interest-rate structure and macro changes.