“This is the new normal,” wrote Adam Simecka, founder of bitcoin wallet Manna. “Hope you have some bitcoin .”
Simecka said he experienced a “live price change” when buying AA batteries on Amazon, with the price increasing between the time he added the item to his cart and the time he checked out.
“When you add an item to your cart, the price shown isn't locked in,” wrote Amazon in response. “The price can go up or down between when you add it to your cart and when you actually buy it.”
One wonders if this ever results in prices going down?
The price of Brent Crude fell to as low $98.44 early Friday, bottoming at about the exact moment French President Macron said the G7 had agreed to release as much as 100 million barrels of diesel fuel and oil from reserves.
It’s been a straight up since, with Brent higher about $4 per barrel to $102.35.
WTI crude oil suffered a similar reversal, that price now at $91.36 after having tumbled to $88.
While crypto prices remain in the green on Friday, there’s been a sizable reversal in the past 90 minutes.
After jumping above $87,000 following the weak U.S. jobs numbers (which suggested monetary policy might be far easier than previously thought), bitcoin has quickly shed about $2,000, now trading at $85,300, up 1.7% over the past 24 hours.
The U.S. 10-year Treasury yield fell as low as 5.15% on weak data, but bond sellers quickly stepped in, sending it back to 5.26%, now up 4 basis points on the day.
The 2-year yield has climbed to 4.81% after sliding back to 4.71%.
It could be profit-taking, or it could be fears that the U.S. CPI report (due Oct. 14) could still spook the Fed into hiking rates despite the employment slowdown.
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