Wednesday, Apr 27th 2022
“The problems are solved, not by giving new information, but by arranging what we have known since long.” —Ludwig Wittgenstein
The below content and projections are the opinion of the authors. Any conclusions or takeaways are their own. This should not be considered as investment advice. Investing involves the risk of loss and returns are not guaranteed.
1) Fidelity to allow 401(k) participants to put money in Bitcoin as crypto adoption continues across financial industry
Titan’s Takeaway: More people getting more access to more crypto investments is a straightforward positive for believers in the growth of the crypto economy. And unlike, say, browser integrations or new NFT marketplaces, opening crypto to American retirement savers really does tap into a deep and reliable source of investment demand.
2) Manchin floats tax hikes to fight inflation as political consequences of rising prices begin to take shape
Titan’s Takeaway: Manchin’s comments stood out to us as a reminder that while the economic impacts of inflation have been top of mind for investors, there will no doubt be a political price to pay as well. But with Democrats holding slim margins in Congress ahead of mid-term elections, we’d be cautious regarding any optimism that major legislation will find its way to the President’s desk in the coming months.
3) New home sales drop amid surging rates and record prices as inflation continues to stress economy
Titan’s Takeaway: Low inventory combined with soaring demand created a red-hot housing market over the last two years, and the Fed hopes higher interest rates will help cool this market down. With signs of stress already appearing in the market after just one rate hike, we wonder how long the Fed will remain committed to higher rates as economic difficulties for consumers add up.
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