Stablecoins, banks and innovation
Plus: stagflation, what on earth is PMI, bro culture, and more
“Do you wish me a good morning, or mean that it is a good morning whether I want it or not; or that you feel good this morning; or that it is a morning to be good on?” ― J.R.R. Tolkien ||
Hello everyone! I don’t know about you, but I am so happy it’s Friday, this week has felt long. I hope you have good things planned for the weekend, you deserve them.
Yesterday I was a guest on Steven Ehrlich’s Bits & Bips: The Interview show, you can see the playback here (they got my title wrong, I haven’t been Head of Market Insights at Genesis Trading for a long time).
Production note: It’s Memorial Day in the US on Monday, and since most of you will be taking the day off, so will this newsletter. ☀ I’ll share the usual Monday features on Tuesday.
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IN THIS NEWSLETTER
Stablecoins, banks and innovation
Macro: stagflationary pressure gets stronger
Term of the day: PMI
Crypto is Macro Now offers ~daily commentary and updates on the overlap between the crypto and macro landscapes. Plus links and more.
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WHAT I’M WATCHING:
Stablecoins, banks and innovation
This morning I finally got around to tackling a recent paper by the US Federal Reserve on how banks respond to innovation (h/t to Jess Hoversen for flagging!).
Unsurprisingly, there’s a pattern. There’s also a lesson for both bankers and innovators.
