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  ·2021-05-20
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  Bitcoin struggles for footing on worries over China, leverage
  TOKYO, May 20 (Reuters) - Bitcoin recovered marginally on Thursday from the previous session's bruta
  Bitcoin struggles for footing on worries over China, leverage
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- SingyiSingyi
  ·2021-05-20
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  Slide in cryptocurrencies, other high-fliers, comes amid looming U.S. inflation worries
  NEW YORK, May 20 (Reuters) - A selloff in cryptocurrencies, high-growth stocks and other high-flying
  Slide in cryptocurrencies, other high-fliers, comes amid looming U.S. inflation worries
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Bitcoin recovered marginally on Thursday from the previous session's bruta","content":"<p>TOKYO, May 20 (Reuters) - Bitcoin recovered marginally on Thursday from the previous session's brutal slide to four-month lows but was weighed down by concerns over tighter regulation in China and unease over massive leveraged positions in the cryptocurrency world.</p><p>Bitcoin, the biggest and most popular cryptocurrency</p><p>, rose 8.75% to touch $40,000, albeit briefly, after plunging 14% on Wednesday to its lowest since late January.</p><p>Smaller rival ether    was up 3% at $2,517, but in extremely volatile trading after its 28% tumble on Wednesday.</p><p>Wednesday's declines in both digital assets were their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were heartily outperforming traditional markets such as stocks and bonds.</p><p>The latest catalyst was a statement by Chinese financial industry groups on Tuesday banning institutions from offering cryptocurrency registration, trading, clearing, and settlement.</p><p>But bitcoin had been under pressure for almost a week after a series of tweets from carmaker Tesla's chief Elon Musk, a major cryptocurrency backer, chiefly his reversal on Tesla&nbsp;accepting bitcoin as payment.</p><p>While Beijing has taken steps before to block access domestically to cryptocurrency exchanges, its latest directive was broader.</p><p>It bans the use of cryptocurrencies in payment and settlement, and prohibits institutions from providing crypto-related products or exchange services between cryptocurrencies and the yuan or foreign currencies.</p><p>Chris Weston, head of research at brokerage Pepperstone in Melbourne, pointed to how $9.13 billion of cryptocurrency positions had been liquidated across exchanges over 24 hours, and $532 billion in total volume transacted.</p><p>\"It's too early to say if the rebound we’ve seen off the lows in crypto has legs, but as we roll into Asian trade, I question if we will get a chance to catch our breath or is there more volatility in store?\" he said.</p><p>The slide forced some investors to close out leveraged positions in cryptocurrency derivatives, which caused prices to fall further and knocked digital assets down into a lower trading range, traders said.</p><p>James Quinn, managing director at Q9 Capital, a Hong Kong-based cryptocurrency private wealth manager, said there wasn't that much evidence of extended leverage in these cryptos and that the selling reflected huge crowded positions in ether.</p><p>Ether was up six-fold until the selloff, stealing a march over bitcoin this year after being widely used in non-fungible tokens on digital art platforms.</p><p>\"To me, this is just as much of a spot led selloff as it is a reflection of people de-leveraging futures and swaps products,\" Quinn said.</p><p>\"Sometimes a market event is looking for a cause. I think this is about positioning. Over the long term, maybe it’s positive because a very crowded trade from a lot of new entrants means there are a lot of new entrants.”</p><p>Bitcoin may fall a little further but is likely to stabilise around $30,000, said Justin d'Anethan, head of exchange sales at Diginex, a Singapore-based digital asset market.</p><p>Digital assets have been on a wild ride this year as a growing number of retail and institutional investors bet that bitcoin and other crypto currencies will gain mainstream acceptance, but large price swings are common. Bitcoin is up 27% so far this year, and intra-day volatility has spiked to near 300% this week.</p><p>Technical factors appeared to have played a part in bitcoin's decline  appeared to accelerate once it fell below its 200-day moving average, a chart position which traders follow.</p><p>Amid the volatility, cryptocurrency trading platforms Coinbase and Binance said they were investigating or experiencing some service issues. Shares in Coinbase COIN.O dropped 5.9% on Wednesday. (Full Story) (Full Story)</p><p>Prominent crypto backers such as MicroStrategy Inc's CEO Michael Saylor, Ark Invest's ARKK.P Chief Executive Cathie Wood and Musk indicated their support for bitcoin as it plunged on Wednesday.</p><p>While some retail traders saw missed opportunities in the slide, others saw the rout as a chance to pick up digital assets on the cheap.</p><p>\"Bitcoin broke down technically,\" said Michael Oliveri, an independent New York-based equity trader who was formerly a partner at First New York Securities.</p><p>\"It was an easy short setup actually. I’m annoyed I didn’t short it. I wouldn’t chase it now.\"</p><p>Milko Markov, an independent London-based trader, said he had been buying ether.</p><p>\"Those with a bit more experience in the crypto market know two cardinal rules: don't leverage and dollar cost average,\" he said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin struggles for footing on worries over China, leverage</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin struggles for footing on worries over China, leverage\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-05-20 13:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>TOKYO, May 20 (Reuters) - Bitcoin recovered marginally on Thursday from the previous session's brutal slide to four-month lows but was weighed down by concerns over tighter regulation in China and unease over massive leveraged positions in the cryptocurrency world.</p><p>Bitcoin, the biggest and most popular cryptocurrency</p><p>, rose 8.75% to touch $40,000, albeit briefly, after plunging 14% on Wednesday to its lowest since late January.</p><p>Smaller rival ether    was up 3% at $2,517, but in extremely volatile trading after its 28% tumble on Wednesday.</p><p>Wednesday's declines in both digital assets were their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were heartily outperforming traditional markets such as stocks and bonds.</p><p>The latest catalyst was a statement by Chinese financial industry groups on Tuesday banning institutions from offering cryptocurrency registration, trading, clearing, and settlement.</p><p>But bitcoin had been under pressure for almost a week after a series of tweets from carmaker Tesla's chief Elon Musk, a major cryptocurrency backer, chiefly his reversal on Tesla&nbsp;accepting bitcoin as payment.</p><p>While Beijing has taken steps before to block access domestically to cryptocurrency exchanges, its latest directive was broader.</p><p>It bans the use of cryptocurrencies in payment and settlement, and prohibits institutions from providing crypto-related products or exchange services between cryptocurrencies and the yuan or foreign currencies.</p><p>Chris Weston, head of research at brokerage Pepperstone in Melbourne, pointed to how $9.13 billion of cryptocurrency positions had been liquidated across exchanges over 24 hours, and $532 billion in total volume transacted.</p><p>\"It's too early to say if the rebound we’ve seen off the lows in crypto has legs, but as we roll into Asian trade, I question if we will get a chance to catch our breath or is there more volatility in store?\" he said.</p><p>The slide forced some investors to close out leveraged positions in cryptocurrency derivatives, which caused prices to fall further and knocked digital assets down into a lower trading range, traders said.</p><p>James Quinn, managing director at Q9 Capital, a Hong Kong-based cryptocurrency private wealth manager, said there wasn't that much evidence of extended leverage in these cryptos and that the selling reflected huge crowded positions in ether.</p><p>Ether was up six-fold until the selloff, stealing a march over bitcoin this year after being widely used in non-fungible tokens on digital art platforms.</p><p>\"To me, this is just as much of a spot led selloff as it is a reflection of people de-leveraging futures and swaps products,\" Quinn said.</p><p>\"Sometimes a market event is looking for a cause. I think this is about positioning. Over the long term, maybe it’s positive because a very crowded trade from a lot of new entrants means there are a lot of new entrants.”</p><p>Bitcoin may fall a little further but is likely to stabilise around $30,000, said Justin d'Anethan, head of exchange sales at Diginex, a Singapore-based digital asset market.</p><p>Digital assets have been on a wild ride this year as a growing number of retail and institutional investors bet that bitcoin and other crypto currencies will gain mainstream acceptance, but large price swings are common. Bitcoin is up 27% so far this year, and intra-day volatility has spiked to near 300% this week.</p><p>Technical factors appeared to have played a part in bitcoin's decline  appeared to accelerate once it fell below its 200-day moving average, a chart position which traders follow.</p><p>Amid the volatility, cryptocurrency trading platforms Coinbase and Binance said they were investigating or experiencing some service issues. Shares in Coinbase COIN.O dropped 5.9% on Wednesday. (Full Story) (Full Story)</p><p>Prominent crypto backers such as MicroStrategy Inc's CEO Michael Saylor, Ark Invest's ARKK.P Chief Executive Cathie Wood and Musk indicated their support for bitcoin as it plunged on Wednesday.</p><p>While some retail traders saw missed opportunities in the slide, others saw the rout as a chance to pick up digital assets on the cheap.</p><p>\"Bitcoin broke down technically,\" said Michael Oliveri, an independent New York-based equity trader who was formerly a partner at First New York Securities.</p><p>\"It was an easy short setup actually. I’m annoyed I didn’t short it. I wouldn’t chase it now.\"</p><p>Milko Markov, an independent London-based trader, said he had been buying ether.</p><p>\"Those with a bit more experience in the crypto market know two cardinal rules: don't leverage and dollar cost average,\" he said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136947448","content_text":"TOKYO, May 20 (Reuters) - Bitcoin recovered marginally on Thursday from the previous session's brutal slide to four-month lows but was weighed down by concerns over tighter regulation in China and unease over massive leveraged positions in the cryptocurrency world.Bitcoin, the biggest and most popular cryptocurrency, rose 8.75% to touch $40,000, albeit briefly, after plunging 14% on Wednesday to its lowest since late January.Smaller rival ether    was up 3% at $2,517, but in extremely volatile trading after its 28% tumble on Wednesday.Wednesday's declines in both digital assets were their biggest daily percentage moves in more than a year as investors rushed to exit trades that until recently were heartily outperforming traditional markets such as stocks and bonds.The latest catalyst was a statement by Chinese financial industry groups on Tuesday banning institutions from offering cryptocurrency registration, trading, clearing, and settlement.But bitcoin had been under pressure for almost a week after a series of tweets from carmaker Tesla's chief Elon Musk, a major cryptocurrency backer, chiefly his reversal on Tesla accepting bitcoin as payment.While Beijing has taken steps before to block access domestically to cryptocurrency exchanges, its latest directive was broader.It bans the use of cryptocurrencies in payment and settlement, and prohibits institutions from providing crypto-related products or exchange services between cryptocurrencies and the yuan or foreign currencies.Chris Weston, head of research at brokerage Pepperstone in Melbourne, pointed to how $9.13 billion of cryptocurrency positions had been liquidated across exchanges over 24 hours, and $532 billion in total volume transacted.\"It's too early to say if the rebound we’ve seen off the lows in crypto has legs, but as we roll into Asian trade, I question if we will get a chance to catch our breath or is there more volatility in store?\" he said.The slide forced some investors to close out leveraged positions in cryptocurrency derivatives, which caused prices to fall further and knocked digital assets down into a lower trading range, traders said.James Quinn, managing director at Q9 Capital, a Hong Kong-based cryptocurrency private wealth manager, said there wasn't that much evidence of extended leverage in these cryptos and that the selling reflected huge crowded positions in ether.Ether was up six-fold until the selloff, stealing a march over bitcoin this year after being widely used in non-fungible tokens on digital art platforms.\"To me, this is just as much of a spot led selloff as it is a reflection of people de-leveraging futures and swaps products,\" Quinn said.\"Sometimes a market event is looking for a cause. I think this is about positioning. Over the long term, maybe it’s positive because a very crowded trade from a lot of new entrants means there are a lot of new entrants.”Bitcoin may fall a little further but is likely to stabilise around $30,000, said Justin d'Anethan, head of exchange sales at Diginex, a Singapore-based digital asset market.Digital assets have been on a wild ride this year as a growing number of retail and institutional investors bet that bitcoin and other crypto currencies will gain mainstream acceptance, but large price swings are common. Bitcoin is up 27% so far this year, and intra-day volatility has spiked to near 300% this week.Technical factors appeared to have played a part in bitcoin's decline  appeared to accelerate once it fell below its 200-day moving average, a chart position which traders follow.Amid the volatility, cryptocurrency trading platforms Coinbase and Binance said they were investigating or experiencing some service issues. Shares in Coinbase COIN.O dropped 5.9% on Wednesday. (Full Story) (Full Story)Prominent crypto backers such as MicroStrategy Inc's CEO Michael Saylor, Ark Invest's ARKK.P Chief Executive Cathie Wood and Musk indicated their support for bitcoin as it plunged on Wednesday.While some retail traders saw missed opportunities in the slide, others saw the rout as a chance to pick up digital assets on the cheap.\"Bitcoin broke down technically,\" said Michael Oliveri, an independent New York-based equity trader who was formerly a partner at First New York Securities.\"It was an easy short setup actually. I’m annoyed I didn’t short it. I wouldn’t chase it now.\"Milko Markov, an independent London-based trader, said he had been buying ether.\"Those with a bit more experience in the crypto market know two cardinal rules: don't leverage and dollar cost average,\" he said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":276,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197752528,"gmtCreate":1621488647564,"gmtModify":1704358457389,"author":{"id":"3584580216054484","authorId":"3584580216054484","name":"Singyi","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584580216054484","authorIdStr":"3584580216054484"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/197752528","repostId":"2136947196","repostType":4,"repost":{"id":"2136947196","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1621486860,"share":"https://ttm.financial/m/news/2136947196?lang=&edition=fundamental","pubTime":"2021-05-20 13:01","market":"us","language":"en","title":"Slide in cryptocurrencies, other high-fliers, comes amid looming U.S. inflation worries","url":"https://stock-news.laohu8.com/highlight/detail?id=2136947196","media":"Reuters","summary":"NEW YORK, May 20 (Reuters) - A selloff in cryptocurrencies, high-growth stocks and other high-flying","content":"<p>NEW YORK, May 20 (Reuters) - A selloff in cryptocurrencies, high-growth stocks and other high-flying assets may be signalling a more cautious outlook among market participants after a stretch of rampant exuberance, investors and analysts said.</p><p>Few believe the bull run that broader U.S. stock markets have experienced over the past year is set for a reversal. Still, concerns are growing that a looming rise in inflation combined with a potential peak in U.S. economic growth could force investors to cut down on risk in their portfolios, hurting many of the assets that shot higher earlier this year.</p><p>\"Higher-risk assets, whether in the form ... of cryptocurrencies or the more speculative growth stocks, are seeing their multiples taken down markedly as investors begin to reassess what impact the potential for inflation will have,\" said David Mazza, managing director at Direxion.</p><p>Wednesday's selloff zeroed in on many of the assets that rallied the most over the last year. Bitcoin dropped to its lowest levels since January  , while Cathie Wood's <a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a> - the top-performing U.S. equity fund in 2020 - slid another 2.5% to leave it down 15.3% since the start of the month. Bitcoin is up 34% for the year to date while ARK is down 17.2%.</p><p>Energy stocks in the S&amp;P 500    fell 2.5%, dampening their rally of more than 30% since January, while the FANG Index - a measure of large technology names that led the market higher last year - rose 0.7%. It remains up just 3.5% since the start of the year. The S&amp;P 500 is up 84% from its March 2020 lows and has risen 9.9% this year.</p><p>Minutes from the Federal Reserve's latest meeting, released on Wednesday afternoon, showed that a \"number\" of Fed officials appeared ready to consider changes to monetary policy based on a continued strong economic recovery - a potential negative for risk assets that have thrived from unprecedented stimulus. That meeting, however, took place before the release of April's anemic job data.</p><p>\"They were thinking about thinking about tapering (quantitative easing) asset purchases if the economy continues on this rapid recovery and they get closer to meeting the dual mandates,\" said Kathy Bostjancic, chief U.S. financial economist at Oxford Economics. \"Our view is they probably pre-announce tapering at Jackson Hole in August and they actually start to taper back the asset purchases at the beginning of next year.\"</p><p>Fed officials have pledged to keep their ultra-loose, crisis-fighting policies in place, betting that the unexpected surge in consumer prices last month stems from temporary forces that will ease on their own.</p><p>\"We think there's still more room to run but that doesn't mean that there wasn't froth in certain parts of the market,\" said Brian Jacobsen, a senior investment strategist for the Multi-Asset Solutions team at Wells Fargo Asset Management. \"This bull market came out of the gate really quickly and you are bound to get some muscle cramps along the way.\"</p><p>Concerns over inflation - or at least how investors will react to signs of rising consumer prices - have proliferated in recent weeks.</p><p>Fund managers in a survey from BoFA Global Research released on Tuesday named inflation as the top risk to markets, while BlackRock Inc   , the world’s largest asset manager, said a market overreaction to an inflation overshoot is a risk accompanying its recommendation of an overweight equity position.</p><p>“The recent sell-off in tech shares, despite strong first-quarter earnings, illustrates the potential for hitting air pockets as the economic restart unfolds,” the firm said earlier this week. “This may create opportunities in a sector benefiting from structural trends.”</p><p>Mazza, of Direxion, expects that inflation worries will be short-lived, leaving some of the growth names that have sold off in May more attractive over the next 12 months.</p><p>The Russell 1000 Value index, for instance, is up 15% for the year to date, while the Russell 1000 Growth index&nbsp;is up 2.6%.</p><p>\"It's very difficult to see a situation where value continues to outperform growth by the same extent through 2022,\" he said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSlide in cryptocurrencies, other high-fliers, comes amid looming U.S. inflation worries\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-05-20 13:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, May 20 (Reuters) - A selloff in cryptocurrencies, high-growth stocks and other high-flying assets may be signalling a more cautious outlook among market participants after a stretch of rampant exuberance, investors and analysts said.</p><p>Few believe the bull run that broader U.S. stock markets have experienced over the past year is set for a reversal. Still, concerns are growing that a looming rise in inflation combined with a potential peak in U.S. economic growth could force investors to cut down on risk in their portfolios, hurting many of the assets that shot higher earlier this year.</p><p>\"Higher-risk assets, whether in the form ... of cryptocurrencies or the more speculative growth stocks, are seeing their multiples taken down markedly as investors begin to reassess what impact the potential for inflation will have,\" said David Mazza, managing director at Direxion.</p><p>Wednesday's selloff zeroed in on many of the assets that rallied the most over the last year. Bitcoin dropped to its lowest levels since January  , while Cathie Wood's <a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a> - the top-performing U.S. equity fund in 2020 - slid another 2.5% to leave it down 15.3% since the start of the month. Bitcoin is up 34% for the year to date while ARK is down 17.2%.</p><p>Energy stocks in the S&amp;P 500    fell 2.5%, dampening their rally of more than 30% since January, while the FANG Index - a measure of large technology names that led the market higher last year - rose 0.7%. It remains up just 3.5% since the start of the year. The S&amp;P 500 is up 84% from its March 2020 lows and has risen 9.9% this year.</p><p>Minutes from the Federal Reserve's latest meeting, released on Wednesday afternoon, showed that a \"number\" of Fed officials appeared ready to consider changes to monetary policy based on a continued strong economic recovery - a potential negative for risk assets that have thrived from unprecedented stimulus. That meeting, however, took place before the release of April's anemic job data.</p><p>\"They were thinking about thinking about tapering (quantitative easing) asset purchases if the economy continues on this rapid recovery and they get closer to meeting the dual mandates,\" said Kathy Bostjancic, chief U.S. financial economist at Oxford Economics. \"Our view is they probably pre-announce tapering at Jackson Hole in August and they actually start to taper back the asset purchases at the beginning of next year.\"</p><p>Fed officials have pledged to keep their ultra-loose, crisis-fighting policies in place, betting that the unexpected surge in consumer prices last month stems from temporary forces that will ease on their own.</p><p>\"We think there's still more room to run but that doesn't mean that there wasn't froth in certain parts of the market,\" said Brian Jacobsen, a senior investment strategist for the Multi-Asset Solutions team at Wells Fargo Asset Management. \"This bull market came out of the gate really quickly and you are bound to get some muscle cramps along the way.\"</p><p>Concerns over inflation - or at least how investors will react to signs of rising consumer prices - have proliferated in recent weeks.</p><p>Fund managers in a survey from BoFA Global Research released on Tuesday named inflation as the top risk to markets, while BlackRock Inc   , the world’s largest asset manager, said a market overreaction to an inflation overshoot is a risk accompanying its recommendation of an overweight equity position.</p><p>“The recent sell-off in tech shares, despite strong first-quarter earnings, illustrates the potential for hitting air pockets as the economic restart unfolds,” the firm said earlier this week. “This may create opportunities in a sector benefiting from structural trends.”</p><p>Mazza, of Direxion, expects that inflation worries will be short-lived, leaving some of the growth names that have sold off in May more attractive over the next 12 months.</p><p>The Russell 1000 Value index, for instance, is up 15% for the year to date, while the Russell 1000 Growth index&nbsp;is up 2.6%.</p><p>\"It's very difficult to see a situation where value continues to outperform growth by the same extent through 2022,\" he said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136947196","content_text":"NEW YORK, May 20 (Reuters) - A selloff in cryptocurrencies, high-growth stocks and other high-flying assets may be signalling a more cautious outlook among market participants after a stretch of rampant exuberance, investors and analysts said.Few believe the bull run that broader U.S. stock markets have experienced over the past year is set for a reversal. Still, concerns are growing that a looming rise in inflation combined with a potential peak in U.S. economic growth could force investors to cut down on risk in their portfolios, hurting many of the assets that shot higher earlier this year.\"Higher-risk assets, whether in the form ... of cryptocurrencies or the more speculative growth stocks, are seeing their multiples taken down markedly as investors begin to reassess what impact the potential for inflation will have,\" said David Mazza, managing director at Direxion.Wednesday's selloff zeroed in on many of the assets that rallied the most over the last year. Bitcoin dropped to its lowest levels since January  , while Cathie Wood's ARK Innovation ETF - the top-performing U.S. equity fund in 2020 - slid another 2.5% to leave it down 15.3% since the start of the month. Bitcoin is up 34% for the year to date while ARK is down 17.2%.Energy stocks in the S&P 500    fell 2.5%, dampening their rally of more than 30% since January, while the FANG Index - a measure of large technology names that led the market higher last year - rose 0.7%. It remains up just 3.5% since the start of the year. The S&P 500 is up 84% from its March 2020 lows and has risen 9.9% this year.Minutes from the Federal Reserve's latest meeting, released on Wednesday afternoon, showed that a \"number\" of Fed officials appeared ready to consider changes to monetary policy based on a continued strong economic recovery - a potential negative for risk assets that have thrived from unprecedented stimulus. That meeting, however, took place before the release of April's anemic job data.\"They were thinking about thinking about tapering (quantitative easing) asset purchases if the economy continues on this rapid recovery and they get closer to meeting the dual mandates,\" said Kathy Bostjancic, chief U.S. financial economist at Oxford Economics. \"Our view is they probably pre-announce tapering at Jackson Hole in August and they actually start to taper back the asset purchases at the beginning of next year.\"Fed officials have pledged to keep their ultra-loose, crisis-fighting policies in place, betting that the unexpected surge in consumer prices last month stems from temporary forces that will ease on their own.\"We think there's still more room to run but that doesn't mean that there wasn't froth in certain parts of the market,\" said Brian Jacobsen, a senior investment strategist for the Multi-Asset Solutions team at Wells Fargo Asset Management. \"This bull market came out of the gate really quickly and you are bound to get some muscle cramps along the way.\"Concerns over inflation - or at least how investors will react to signs of rising consumer prices - have proliferated in recent weeks.Fund managers in a survey from BoFA Global Research released on Tuesday named inflation as the top risk to markets, while BlackRock Inc   , the world’s largest asset manager, said a market overreaction to an inflation overshoot is a risk accompanying its recommendation of an overweight equity position.“The recent sell-off in tech shares, despite strong first-quarter earnings, illustrates the potential for hitting air pockets as the economic restart unfolds,” the firm said earlier this week. “This may create opportunities in a sector benefiting from structural trends.”Mazza, of Direxion, expects that inflation worries will be short-lived, leaving some of the growth names that have sold off in May more attractive over the next 12 months.The Russell 1000 Value index, for instance, is up 15% for the year to date, while the Russell 1000 Growth index is up 2.6%.\"It's very difficult to see a situation where value continues to outperform growth by the same extent through 2022,\" he said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":true}