Joseph Adinolfi

This bitcoin rival nearly doubled in value in one week Dash is on a tear as traders try to front-run a major announcementThe price of a single Dash token has doubled in the span of a week as traders attempt to front-run a major exchange’s decision to initiate trading in the digital currency.

Bitcoin is now worth more than an ounce of gold for the first time ever The digital currency continues to trade at all-time highsOne unit of so-called digital gold is now worth more than an ounce of the real thing.

Aussie weakens against greenback as U.S. rate-hike expectations riseThe Australian, New Zealand and Canadian dollars weakened against the dollar on Thursday as commodity prices tumbled and rising interest-rate expectations bolstered the greenback. The Australian dollar tumbled 1.4% to 75.71 cents, its weakest level in a month, its largest one-day drop since Dec. 15, the day after the Federal Reserve raised interest rates at its December meeting. By comparison, it traded at 76.75 cents late Wednesday. The New Zealand dollar fell 1.14% to 70.63 cents, compared with 71.45 cents. The dollar rose 0.5% to C$1.3392, its strongest level in two months, compared with C$1.3329 late Wednesday. In recent days, a bevy of Fed officials have talked up the likelihood that the central bank will raise interest rates at its meeting later this month, sending market-based expectations of a hike to 80%, according to CME Group data. "I think its an overall very dollar positive market right now," said Juan Perez, a currency trader at Tempus Inc. The price of a barrel of oil fell 2.2% to $52.63 in recent trade. The three dollars are commonly referred to as the "commodity dollars" because Canada, Australia and New Zealand are all major commodity exporters.

Two-year Treasury yield highest since 2009 Perceived odds of a March hike continue to climbThe yield on the two-year Treasury note climbed to its highest level since June 2009 on Thursday as the perceived odds of a March interest-rate hike continued to improve.

Treasury yields see largest one-day increase since November 10-year yield tops 2.45%; 30-year yield climbs above 3%Treasury yields on Wednesday notched their largest one-day increase since mid-November after the perceived probability of a March rate hike increased dramatically following hawkish remarks from several Federal Reserve officials.

Ray Dalio plans to step down from management at Bridgewater AssociatesRay Dalio said he is stepping down from day-to-day management at Bridgewater Associates, the world's largest hedge fund, but will stay on as a co-chief investment officer with two other senior employees, according to Dalio said he stepped back into the co-CEO role 10 months ago to help with a management transition, adding that his management role was always meant to be temporary. In his stead, David McCormick will step up to join Eileen Murray as co-CEO. Dalio also announced a slew of other management changes, including that co-CEO Jon Rubenstein would leave Bridgewater after serving as co-CEO with Dalio for the past 10 months because Rubenstein "is not a cultural fit for Bridgewater," Dalio said. Carsten Stendevad, the former CEO of a large Danish pension fund, will join Bridgewater as part of its new senior fellowship program, which will allow outside investing professionals to work at Bridgewater for a year to " to explore what our culture is like and lend their expertise and insights to our organization." Dalio founded Bridgewater in his apartment four decades ago. It now manages $150 billion in assets. His transition out of management will be complete by April 15, Dalio said

U.S. stocks open at all-time highs; Dow surpasses 21,000Stocks opened in record territory on Wednesday after President Donald Trump struck a conciliatory tone during his first address to a joint session of Congress. The S&P 500 index climbed 17 points, or 0.7%, to 2,380. The Dow Jones Industrial Average advanced 195 points, or 0.9%, to 21,003. The Nasdaq Composite Index added 48 points, or 0.8%, to 5,874. Shares of Weight Watchers International Inc. soared after the company said its profit more than doubled in 2016. Shares of Best Buy Co. sank after the consumer-electronics retailer reported fourth-quarter sales that missed expectations. Treasury yields and the U.S. dollar also climbed after Federal Reserve President William Dudley said late Tuesday that the case for raising interest rates has strengthened.

The border-adjusted tax could hurt some of the world’s most vulnerable economies The tax could cause the buck to rise by 25%, straining the ability of some countries to make payments on dollar debtThe border-adjusted tax plan championed by Speaker of the House Paul Ryan could strain some of the world’s most vulnerable economies by driving a massive appreciation in the U.S. dollar and potentially triggering the next emerging-market debt crisis.

These are the best-performing assets from Trump’s first full month in office Bitcoin, emerging-market currencies and U.S. stocks notch strong gainsStocks hog the headlines during President Donald Trump’s first full calendar month in office as the Dow Jones Industrial Average embarked on its longest record-breaking run in three decades.

Dollar, Treasury yields jump as Dudley sees stronger case for raising rates The dollar and Treasury yields rose on Tuesday after New York Fed President William Dudley said during an interview with CNN that the case for raising interest rates has become more compelling. the yield on the two-year Treasury note , typically the most sensitive to shifts in rate-hike expectations, rose as much as six basis points to 1.260% following Dudley's comments. The yield on the 10-year note saw a more modest increase, rising 2.4 basis points to 2.389%. The dollar strengthened to 112.73 yen, compared with 112.31 yen earlier in the session. The euro , meanwhile, dropped to $1.0578, compared with $1.0594. Stock futures remained relatively steady, with futures for the S&P 500 were relatively steady at 2,362.25.

Treasury yields notch first monthly drop since July Decline comes on worries that Trump’s promised fiscal plans will be delayedTreasury yields on Tuesday notched their first monthly decline since July as investors bet that the sweeping economic policies that President Donald Trump campaigned on would likely have only a limited impact in 2017.

Treasury yields rise as Fed’s Kaplan says next hike to come ‘in the near future’ Investors see rising odds of interest-rate increase in March Treasury yields rose on Monday after comments from Dallas Federal Reserve President Robert Kaplan helped send the odds of a March rate-hike rocketing higher, market strategists said.

Odds of March Fed interest-rate hike spike above 50% Odds increase after Dallas Fed president spokeOdds of a March interest-rate hike rose above 50% Monday after Dallas Fed President Rob Kaplan spoke to reporters.

Stock investors are seeking protection from Marine Le Pen European equity-futures markets show investors are bracing for a spike in volatility around the French election After being burned twice by election polls in the past year, investors in European equities are approaching the coming French election with a healthy skepticism.

Stocks tick lower at open; Dow on track to end record runU.S. stocks opened marginally lower on Monday, with the Dow Jones Industrial Average set to take a breather after recording an impressive string of record gains. The blue-chip index slid 25 points, or 0.1%, to 20,800. The S&P 500 index declined two points, or 0.1%, to 2,365. The Nasdaq Composite Index shed 11 points, or 0.2%, to 5,833. Shares of Sotheby's rose after the auction house posted earnings and profits that beat estimates. Shares of La Jolla Pharmaceutical Co. soared after the company announced positive results from a phase 3 drug trial. The Dow posted its 11th straight record close on Friday

How to make sense of the conflicting signals stocks and bonds are sending investors Treasury yields are falling, but the VIX has remained steady Bonds and stock markets are sending conflicting signals about the health of the U.S. economy.

Treasury yields notch largest weekly drop since December Uncertainty surrounding fiscal, monetary policy outlooks entices investors back into U.S. debtTreasury yields touch their lowest levels in more than five weeks on Friday, cementing their largest weekly decline since December, as President Donald Trump offered no new details about his plans for implementing the sweeping economic policies he has promised.

Dollar softens, but finishes week marginally higher Continued reaction to Mnuchin’s cautious view on tax-driven economic boost this yearThe dollar eases against the Japanese yen and a handful of other rivals on Friday, but a widely watched gauge of its value against a basket of currencies still manages to eke out a marginal weekly gain.

Here’s why bitcoin just hit an all-time high Price gains have been driving in part by hopes that an ETF might soon be approved Bitcoin is trading at an all-time high for the first time in more than three years.

Bitcoin is nearing its all-time highBitcoin came within $3 of its all-time high on Thursday as expectations mounted that the Securities and Exchange Commission could soon authorize the creation of the first bitcoin exchange-traded fund.

Treasury yields decline as Mnuchin defends strong dollar 2-year bund yield recovers from record low, but likely not for longTreasury yields declined on Thursday after Treasury Secretary Steven Mnuchin said the longstanding strong-dollar policy was beneficial in the long term, and that his department was looking into the possibility of issuing more long-term debt.

Dollar weakens as doubts grow about timing of fiscal stimulus, rate hikes Euro strengthens as political risks seen receding The dollar weakens Thursday as traders focus on doubts about the timing of rate hikes following minutes from the Federal Reserve and the implementation of fiscal policy proposed by President Donald Trump.

Mexico peso rallies on comments from Trump administration officials The Mexican peso strengthened against the dollar on Thursday after several top Trump administration officials stressed the importance of maintaining positive relations with the U.S.'s southern neighbor. The peso strengthened early in the day, part of a broad-based rally in emerging-market currencies, after U.S. Treasury Secretary Steven Mnuchin offered what some market strategists characterized as a lackluster defense of the U.S.'s strong dollar policy. The dollar was down 1.4% at 19.65 pesos in recent trade, compared with 19.94 pesos late Wednesday in New York. He also emphasized that relations between the two countries remain positive. The currency added to its gains later in the day after U.S. Secretary of State Rex Tillerson said his trip to Mexico was "forward-looking," and that officials from the two countries were focused on their common interests. He also said that Mexican Secretary of Foreign Affairs Luis Videgaray also said the meeting was "a good step" toward cooperation. The currency is presently trading at levels not seen since Nov. 9, the day after the U.S. election. It rallied sharply earlier in the week after Mexico's central bank introduced a new hedging facility. "[President Donald Trump] said a lot of inflammatory stuff during the campaign but in reality their relationship is going to have to be one of mutual cooperation and strong ties," said Win Thin, global head of emerging-market currency strategy at Brown Brothers Harriman.

Why stock, bond investors shouldn’t ‘just buy everything’ The Dow has climbed over 13% since Trump’s election winLately, when traders have glanced at their Bloomberg terminals, they’ve been greeted by a sea of green.

Dow notches longest run of record closes in three decadesU.S. stocks finished mostly lower on Wednesday, but that didn't stop the Dow Jones Industrial Average from posting its ninth straight record close -- its longest such streak since Jan. 20, 1987. The blue-chip gauge gained 32.60 points, or 0.2%, to 20,775.60, led by DuPont Inc. , Nike Inc. and 3M Company . Meanwhile, the S&P 500 index shed 2.58 points, or 0.1%, to 2,362.80, as a drop in crude-oil prices weighed on energy shares. The Nasdaq Composite Index slipped 5.32 points, or 0.1%, to 5,860.63. Stocks pared earlier gains after minutes from the Federal Reserve's latest policy meeting highlighted the uncertainty surrounding President Donald Trump's fiscal policies. Tesla Inc. , Square Inc. and Fitbit Inc. will report earnings after the close.

Treasury yields decline after Fed minutes Fed’s Powell says risks facing U.S. economy are more balancedTreasury yields declined on Wednesday after minutes from the Federal Reserve’s latest policy meeting showed that officials were concerned about the uncertainty surrounding the timing and scope of President Donald Trump’s fiscal policies.

Treasury yields decline after Fed minutes Treasury yields turned lower on Wednesday after minutes from the Federal Reserve's most-recent meeting revealed that some officials were waiting for more clarity about President Donald Trump's fiscal policies. Though many policy makers said they believed that the next hike could come "fairly soon" provided economic data continue to improve, the overall tone of the minutes was somewhat less hawkish than investors had anticipated, market strategists said. Fed officials also voiced concerns about the dollar's recent appreciation. The yield on the 10-year Treasury note shed 1.4 basis point to 2.414%, while the yield on the two-year note rose marginally to 1.228%. The yield on the 30-year Treasury bond fell 1.2 basis point to 3.024%. Yields had moved higher earlier in the session following hawkish comments from Fed Gov. Jerome Powell and an auction of $34 billion in new five-year notes that was somewhat softer than expected, analysts said.

U.S. stocks open lower, threaten to halt record ascentU.S. stocks opened marginally lower on Wednesday as the three main benchmarks struggled to continue their run of records amid a pullback in oil prices. The S&P 500 index slipped three points, or 0.1%, to 2,362.34. The Dow Jones Industrial Average shed 27 points, or 0.1%, to 20,712. The Nasdaq Composite Index retreated 10 points, or 0.2%, to 5,856. U.S.-traded crude-oil futures slipped 1.5% to $53.54 a barrel in recent trade, weighing on energy stocks. Shares of Toll Brothers Inc. jumped after the company posted a fall in profit and revenue. First Solar Inc. shares fell, even though the company posted adjusted earnings and sales that beat expectations. Shares of TJX Cos. rose after the off-price retailer's fourth-quarter earnings and sales beat expectations. Investors are now looking ahead to the release of minutes from the Federal Reserve's most recent policy meeting, which they will scrutinize for clues about the central bank's plans for raising interest rates and unwinding its balance sheet.

Fed's Williams touts potential benefits of blockchain technologySan Francisco Federal Reserve President John Williams said Tuesday that blockchain technology could lower costs while making record keeping easier and more efficient. Williams, who was speaking at Boise State University, also said that people increasingly understand that bitcoin won't replace government-issued currencies like the U.S. dollar. Back in December, the Fed published a paper examining how blockchain technology could be applied in the financial industry. Fed Chairwoman Janet Yellen has previously said that blockchain technology could have a significant impact on the payments system.

Treasury yields turn lower on geopolitical worries Spread between German and French 10-year bonds Treasury yields finished marginally higher Tuesday, but erased much of their early gains, after a new poll showed far-right candidate Marine Le Pen’s lead’s widening in the coming French presidential election.

Two-year Treasury auction sees strong demandTwo-year Treasury notes auctioned by the Treasury Department on Tuesday received strong demand, largely thanks to a surge in buying from foreign investors. The yield on notes sold at the auction was half a basis point lower than their comparable 1 p.m. level, according to Treasury data, meaning that investors paid a premium for the bonds. Indirect bidders, a group that's seen as a proxy for foreign demand, received 49.8% of the new notes, a much larger allocation than the 38.9% average from the six most recent auctions, traders said. But despite a drop in Treasury yields ahead of the auction, demand remained surprisingly robust, said Aaron Kohli, a fixed-income strategist at BMO Capital Markets. The auction's bid-to-cover ratio, a measure of demand, was 2.82, compared with an average of 2.64 from the six most recent auctions. The yield on the two-year note rose 1.7 basis point to 1.203% in recent trade.

Marine Le Pen's lead widens in latest electoral pollFar-right presidential candidate Marine Le Pen's lead over her two main challengers in France's upcoming presidential election was seen widening, according to an electoral poll published Tuesday morning, New York Time. The poll, conducted by communications firm Elabe for French TV station BFMTV and magazine L'Express, showed Le Pen's lead in the first round of voting increasing between one-and-a-half and two percentage points since a previous poll published on Feb. 8. In addition, conservative candidate Francois Fillon overtook Emmanuel Macron, who is believed to have a better chance of beating Le Pen in the second round. A victory by Le Pen, which could portend a French exit from the European Union, is typically seen as negative for risky assets like stocks, and positive for safety plays like gold, the Japanese yen and Treasurys.

Bitcoin prices touch fresh 3-year high Traders are trying to front-run SEC’s decision on the pending bitcoin ETFThe price of a single bitcoin leapt to its highest level in more than three years on Tuesday as traders bought up coins in anticipation of the Securities and Exchange Commission’s ruling on a proposed bitcoin exchange-traded fund.

Central banks are bracing for Trump-related uncertainty Central banks may leave monetary policy looser for longer, says Steven Barrow Like the old saying goes: ‘When America sneezes, the world catches a cold.’

Stock market resumes record run to cap week, with late-session push Dow extends record-setting streak for seventh session All three major stock indexes close at records on Friday with the Dow Jones Industrial Average eking out gains to extend its record-setting streak to a seventh session.

PBOC steps up efforts to increase financial stabilityThe People's Bank of China said Friday that it would crack down on financial crimes like money laundering, tax evasion and terrorist financing. Over the past month, the central bank has stepped up monitoring of several prominent bitcoin exchanges to try and prevent Chinese citizens from using digital currencies to circumvent the country's stringent capital controls. that it sees asset bubbles forming in certain markets and that it will increasingly monitor the country's financial markets for abnormal moves. Chinese stocks finished lower on Friday, with the Shanghai Composite Index down 0.9% at 3,202 and the Shenzen A Share index fell 0.7% to 24,033.74. The dollar strengthened 0.2% to 6.87 yuan.

Treasury yields snap 5-day streak of gains Yields move lower, mirroring selloff in U.S. stocksTreasury yields edge lower on Thursday after rising for five straight days as attractive valuations lure investors back into U.S. debt, market strategists said.

There’s no good explanation for the Russian ruble’s rise Capital Economics scratches its collective head over the currency’s divergence from oil pricesThe Russian ruble is the best-performing emerging-market currency of 2017 and nobody has a convincing explanation as to why, according to a research note by Capital Economics published on Thursday.

Bitcoin price rises as third Chinese exchange halts withdrawalsThe bitcoin price rose on Thursday after Chinese digital-currency exchange BTCC said it would temporarily halt withdrawals while it upgrades its anti-money laundering systems, becoming the third major exchange to do so. Last week, OKCoin and Huobi, which, along with BTCC, comprise China's "big three" bitcoin exchanges, made similar announcements, saying the necessary upgrades should take a month, if not less. One bitcoin cost $1,019 in recent trade, according to Coin Market Cap. In the past, the bitcoin price has fallen following reports of Chinese regulators stepping up pressure on the exchanges. Instead, the price reaction on Thursday suggests that investors are less worried about interference from Chinese authorities, who have sought to tighten oversight over the country's exchanges in recent months. "The market is kind of numb," said Chris Burniske, blockchain analyst and products lead at ARK Invest. "It's priced in this information and it's not concerned." Earlier in the week, a former governor of the People's Bank of China, the country's central bank, said on local television that bitcoin will continue to exist in China.

U.S. stocks open slightly higher after notching best record-setting run in a quarter-centuryU.S. stocks opened modestly higher on Thursday following their best record-setting run in a quarter-century. The S&P 500 index was flat at 2,350. The Dow Jones Industrial Average gained 10 points, or 0.1%, to 20,621. The Nasdaq Composite Index advanced four points, or 0.1%, to 5,823. The three benchmarks on Wednesday notched their longest streak of simultaneous record closes since January 1992. Cisco Systems Inc. shares rose after the company posted better-than-expected results late Wednesday. CBS Corp. shares slipped despite serving up forecast-topping earnings. Kraft Heinz Co. shares also fell despite the company posting strong earnings.