Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Oil prices are on the mend this year, but the United States Oil Fund (NYSE: USO) would need to more than triple to sniff its 2014 highs. USO, which tracks front-month West Texas Intermediate futures, would need to nearly quadruple to come within striking distance of its 2012 highs.
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Heading into 2016, there was some concern from bond market observers about the impact of lower oil prices on municipal bonds. However, exchange traded funds holding municipal bonds have rebuffed those concerns. In fact, investors have been revisiting municipal bond ETFs, such as the Market Vectors High-Yield Municipal Index ETF (NYSE: HYD) and the iShares National AMT-Free Muni Bond ETF (NYSE: MUB) in significant fashion.
Underscoring the notion that investors are not overly concerned about oil's impact on the muni market and focusing more on the Federal Reserve's reluctance to raise interest rates, two of the six ETFs that hit 52-week highs yesterday were muni ETFs, including HYD. Of the other four ETFs in the 52-week high club, one was an ETF of ETFs that features a hefty weight to a muni bond fund.
“The municipal bond market has been buffeted by pension shortfalls, Puerto Rico, Chicago, Detroit and other news worthy events. Oil, however, is not yet one of the major forces impacting the municipal bond market. In February 2016 oil dependent states and their municipal bonds were showing signs of weakening as the price of oil continued its plummet,” said S&P Dow Jones Indices Global Head of Fixed Income J.R. Rieger
ow, nearly three months later those bonds with the exception of North Dakota have shown resilience and have performed similarly to the overall municipal bond market,” adds Rieger.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.