Analyst Claims Junk L2s Are Being Phased Out, Ethereum Value Capture Logic Returns

Major equity indexes closed lower on October 7 ET. Long-end yields rose again, and the 30-year yield hit a roughly 24-year high. September Fed minutes showed most participants thought another increase in the federal funds target range before year-end could be appropriate. CME pricing for a 25 bp hike at the October 27–28 meeting has fallen below 20%, far below about 70% in the days after the September decision. Bitcoin traded near $83,300. The October 8 focus is jobless claims and pre-market earnings from Pepsi and Delta.

Major equity indexes closed lower on October 7 ET. Long-end yields rose again, and the 30-year yield hit a roughly 24-year high. September Fed minutes showed most participants thought another increase in the federal funds target range before year-end could be appropriate. CME pricing for a 25 bp hike at the October 27–28 meeting has fallen below 20%, far below about 70% in the days after the September decision. Bitcoin traded near $83,300. The October 8 focus is jobless claims and pre-market earnings from Pepsi and Delta.

Major equity indexes closed higher on October 6 ET. The S&P 500 and Nasdaq both set closing highs as long-end yields eased and oil stabilized, shifting capital from rate worries toward earnings. Constellation Energy led on a long-term power agreement to supply Google, while tokenized-securities platform Securitize jumped early after signing a tech partnership. Bitcoin held near $86,000, LayerZero led majors, and Anvil surged after an institutional purchase of governance tokens. Applied Digital reports after the close on October 7 ET, while markets also track policy-meeting minutes and TOKEN2049 industry headlines.

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