As always, all eyes were on monetary policy biases and inflation updates, but there were plenty of fresh headlines affecting risk sentiment and volatility, generally leading to choppiness among the major asset classes. There was a steady stream of headlines hitting a wide range of narratives, including Middle East military action and Chinese property stocks drawing in the risk off crowd early on, as well as crypto specific news, including confusion over the apparent SEC bitcoin ETF that came much earlier than expected. At the end of the week, the spotlight turned to U.S. inflation updates, which only brought on more choppiness as the consumer update conflicted with the change in producer prices.
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