Global markets are leaning into growth.
Following the upside surprise in U.S. non-farm payrolls — with 130,000 jobs added and unemployment falling to 4.3% — investors are focusing on economic resilience rather than fading hopes of aggressive rate cuts. MSCI’s All-World index is trading near record highs, while South Korea’s Kospi has crossed 5,500 for the first time.
Attention now turns to initial jobless claims and the upcoming CPI print, which could shape expectations for the Federal Reserve’s June decision. CME FedWatch odds for a rate hold have climbed to 40%.
In the UK, GDP expanded just 0.1% in Q4, while industrial production fell unexpectedly. Meanwhile, Nuveen has agreed to acquire asset manager Schroders for $13.5 billion.
In digital assets, crypto markets remain steady despite Blockfills halting withdrawals. BlackRock is deepening its move into tokenized finance, bringing its Treasury-backed BUIDL token to Uniswap through Securitize. Court drama surrounding FTX has resurfaced, and Kraken has replaced its CFO ahead of its public listing.
A busy macro backdrop with institutional crypto developments accelerating beneath the surface.
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