Coinbase Institutional 🛡️(@CoinbaseInsto):Soft print, hard regime → While nonfarm payrolls came in well below expectations, the escalation of hostilities in the Mideast has put inflation firmly back in focus. → Markets are now pricing a higher-for-longer regime, tightening financial conditions for long-duration risk assets and increasing the odds of a rate hike by year end. → Despite the bad news, BTC fell only ~2%, which we think may be emblematic of a bottoming process. Market-implied probabilities for the July and December FOMC meetings

2026.07.13 16:25

Soft print, hard regime → While nonfarm payrolls came in well below expectations, the escalation of hostilities in the Mideast has put inflation firmly back in focus. → Markets are now pricing a higher-for-longer regime, tightening financial conditions for long-duration risk assets and increasing the odds of a rate hike by year end. → Despite the bad news, BTC fell only ~2%, which we think may be emblematic of a bottoming process. Market-implied probabilities for the July and December FOMC meetings