Hi friend 👋🏼

This week, we’re looking at everything from Omega’s surprising price dip to the Fed’s latest moves. Plus, we’ll explore Portugal’s housing initiative and crypto’s ongoing search for its next big thing.

The Weekly Fun Fact 🤔‍

Used Omega watch prices have fallen, despite the brand's big showing at the 2024 Paris Olympics. The Bloomberg Subdial Watch Index reports that Omega saw a slight dip of nearly 1% in pre-owned prices over the past month. While star athletes like Noah Lyles and Armand Duplantis sported Omega watches during their record-breaking moments, this visibility hasn't quite translated to a boost in the secondhand market. 

Interestingly, other luxury brands including Rolex, Patek Philippe, and Cartier have seen growth in their used prices during the same period, painting a complex picture of the current luxury watch market. 

‍

🔴 Fresh crypto narratives are hard to come by for the next bull cycle🌍 

The crypto industry landed in Singapore for Token2049, but the hunt for the next big trend continues. While talks of decentralized infrastructure and blockchain persist, there's a growing need for fresh ideas. The industry feels the heat to innovate as new challenges appear and the U.S. presidential election approaches. It's clear that crypto's future is closely tied to the broader economic picture. 

As minds meet in Singapore (including our very own co-Founder André Lages), the question remains: will this gathering spark the next breakthrough, or will the industry keep circling familiar territory? Only time will tell if the next big thing in crypto emerges from this bustling Asian hub.

‍

🟡 Portugal Unveils €2bn Housing Package to Combat Crisis 🏘️ 

Portugal has taken a bold step to tackle its housing crisis with a €2 billion plan to construct 33,000 homes by 2030. This ambitious project aims to provide relief for families struggling with soaring rents and property prices. The initiative will fully fund 10,000 homes, while offering public grants to cover 60% of building costs for the remaining units. 

This is truly a much-needed response to the housing crisis in cities like Lisbon, with rents rising by 94% since 2015. The surge in foreign investment and tourism has been a double-edged sword for Portugal, boosting the economy but pushing many locals out of the housing market.

‍

🟢 The Fed’s Regime Change: What It Means for Asset Prices 💸 

This week, Jerome Powell and the Federal Reserve  shifted gears, moving away from financial tightening to a new era of cheaper capital. This shift comes even as the S&P 500 and Dow Jones Industrial have recently touched new peaks, seemingly shrugging off previous rate hikes and the Fed's massive balance sheet reduction. 

The anticipated drop in interest rates (by 50 bps) and boost in liquidity could provide a significant lift to financial assets, including stocks and also Bitcoin. As more money flows into the system, the market landscape may offer fresh prospects for long-term investors. 

Those with capital to deploy might find themselves riding a rising tide, though as always, diversification will be key in these evolving financial news.

‍

🎬 That’s a wrap! From watches to housing to crypto, we’ve covered a lot. Who knows what’s next? Stay tuned, and we’ll catch you next week!