The second quarter closed on Tuesday. Here’s the cross-asset scoreboard, because the story it tells is more coherent than any single market’s narrative. The numbers Stocks: the S&P 500 ended June at 7,499, up about 1% for a choppy quarter that featured a record high in May (7,599), a June correction to 7,238, and a […]
162.6. That’s where USD/JPY closed on Wednesday, and I had to double-check the screen because the last time we were here, the conversation was all about intervention. The pair has rallied almost without pause since mid-June, climbing from 159.6 to its highest level of 2026. The engine is the same one that’s driven every big […]
June was bitcoin’s worst month since the last bear market, and July opened with a final flush. The token touched $57,748 on Wednesday — the lowest price since March — before stabilizing near $60,000. From the May peak of $82,792, bitcoin has now fallen 30%, a full-scale drawdown that has erased the spring euphoria and, […]