Markets

Sep 2nd 2023 - ₹2,141,855.00

Year to Date - 50.62%

Since Jan 1st 2022 - 42.26%

Sep 2nd 2023 - ₹135,558.00

Year to Date - 31.10%

Since Jan 1st 2022 - 54.05%

Market Summary

Macro

• In August, the US saw job growth, with 187,000 new nonfarm payrolls added. More people entered the job market last month, possibly due to concerns about an economic slowdown. Hence, the unemployment rate increased to 3.8% from July's 3.5%, and wage growth slowed down. This suggests that the labor market is easing, and it's unlikely that the Federal Reserve will raise interest rates this month.

• According to a recent Reuters poll of property analysts, the global house price downturn has largely come to an end, and in 2024, most major markets are expected to see prices rise.

Digital Assets

• The U.S. SEC has postponed its decision on spot bitcoin exchange-traded fund (ETF) applications from firms like BlackRock, WisdomTree, and more until October. This delay has caused Bitcoin and major tokens to lose their weekly gains, with Bitcoin dropping below $26,000 and other cryptocurrencies like Solana and Litecoin experiencing declines.

• In other news, a New York court has classified Bitcoin and Ether as "commodities" while dismissing a lawsuit against Uniswap, stating that the issuers of certain tokens were the true defendants, not Uniswap.

• Additionally, large investors and the broader market have been actively buying Bitcoin, with over $1.5 billion of Bitcoin added to these large addresses in the last two weeks.

Interesting Finds

• Discover the Secrets of Ancient Civilizations: Dinosaur Tracks, Aztec Offerings, and Maya Sacrifices - Unearthed in This Week's History News. Read here.

• As we approach the end of the tightening cycle and it is unclear if we get a soft/hard landing, the following would make for a great Sunday read: "Unlocking the Mysteries of 'Soft' vs. 'Hard' Landings: Exploring the Federal Reserve's Monetary History, 1965–2022". Read here.

Regards,

The BrownRice Capital Team

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.