High Volatility

WE CALLED IT!

• Crude flat price rallied as much as $3 from last week before giving back all its gains
• Gasoline cracks have outperformed diesel cracks across all regions 
• Long US Gasoline Vs Short European Gasoil performed exceptionally well, as called last week, with US gasoline crack higher by $1.5 and Gasoil cracks lower by $0.8
• The crypto market has been range bound. Profit-taking has been the best strategy this past week
• 0N1 force has pulled back from 2.2 to 1.3. We encouraged taking profits above 2 ETH on them in the newsletter two weeks ago
• $CRV moved from 90 cents to break a $1

TRADITIONAL MARKET

MACRO MARKETS

FOMC

Chair Powell had his hearing in front of the Senate Banking Committee on Tuesday. Markets saw more cuts as several senators questioned them on various topics. 

Payrolls

The US non-farm payrolls will be the focus for the global markets. After the shock to the upside with 500k+ jobs in January we will be getting the February employment data this Friday. 

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HOUSING MARKET

The narrative surrounding the housing market is that demand and prices are falling dramatically. We have recently seen pending, and new home sales increase over the last two months. Despite home sales and pending home sales being relatively low compared to the previous year, January 2023 was the first time we saw an increase in both metrics since July 2022. What is causing this sudden increase in housing? We can look to two areas to figure this out, but most notably, mortgage rates are the key driving factor to the housing market's demand. 

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OIL / COMMODITIES

Crude Fundamentals look a bit more balanced as themes such as Russian Supply and Chinese demand are becoming more uncertain. Very important week to see the effect of the Fed on Oil as well as what happens with US Crude stocks, where we might see a reverse from the consecutive builds. 

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CRYPTO/WEB3

NEWS

• Australia Introduces CBDC Pilot and Study for eAUD
• Leading Corporations Collaborate to Establish Japanese Metaverse Economic Zone
• Maximizing Profits at All Costs Will 'Destroy' Web3: Animoca Brands Chairman
• Emmy Award-Winning Baobab Studios Enters the NFT Market with Momoguro Collection
• Valhalla Unveils Its New Marketplace for NFT Collectors
• NFT Sales Skyrocket to $2 Billion in February - Record Highs Since Terra Market Drop

 7 week volume – Top 5

1. MAYC
2. BAYC
3. Azuki
4. BAKC
5. Moonbirds

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LEISURE 

WELLNESS WIZDOM 

This week we look at the importance of nutrition to promote mental health. Nutrition is 90% of the battle, read on to see which vitamins and minerals are required in order to maintain optimal results.  

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WIZARD’S WEEKLY MUSING

Current Portfolio Allocation

CRYPTO: 16%

NFTs: 17%

STOCKS: 10%

PRIVATE EQUITY: 18%

STABLECOINS: 39%

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LATER THIS WEEK

Wednesday

• Euro area GDP, US MBA mortgage applications
• JOLTS job openings
• ADP employment change
• Commentary from Jerome Powell on the semiannual Monetary Policy Report to the House Financial Services Committee 

Thursday 

• US initial jobless claims, China CPI, and PPI

Friday

• February US nonfarm payrolls report
• US unemployment data
• The Bank of Japan’s rate policy rate decision

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Don’t forget to submit your questions to our Twitter page @WeeklyWizdom