A record number of U.S. renters spent more than 30% of their income on rent in 2021 and mortgage rates fall to lowest level since mid-September. Freddie Mac says 3 million more people now qualify for a home loan.

Hi, MarketWatchers. Don’t miss these top stories. Death and deceit in Malibu: How yogi couple befriended and stole millions from vulnerable rich doctor Anton David and Anna Moore are accused of pretending to be caretakers for Dr. Mark Sawusch while really having an eye on his $60 million fortune. Read More ‘We are not visible, … Read more

‘Crypto is not dead’: Industry insiders react to report that states 72% of institutional traders have no plans to trade crypto in 2023

JPMorgan Chase & Co. on Wednesday published a survey stating 72% of institutional traders, out of the 835 surveyed, “have no plans to trade crypto” in 2023. But some industry experts say that this doesn’t mean crypto is dead. The survey was conducted between Jan. 3 and Jan. 23, and included responses from 60 global … Read more

These crypto-related stocks rallied up to 200% this year. Here’s why 

Welcome back to Distributed Ledger. This is Frances Yue, crypto reporter at MarketWatch. Crypto miners have had a remarkable start of this year, as bitcoin BTCUSD rose to around $24,000 from below $17,000 in early January. Meanwhile, Dogecoin DOGEUSD rallied, as Elon Musk is reportedly pushing forward Twitter’s payments system and considering adding crypto in … Read more

Why NFTs saw $941 million in trading volume in January – the highest since June 2022

Non-fungible tokens registered $941 million in trading volume in January 2023, up 38% from December, and the highest on record since June 2022, according to a Feb. 2 report by DappRadar, which tracks and analyzes the activity of NFT marketplaces. Non-fungible tokens, which provide proof of ownership of a digital asset like online artwork, surged … Read more

Cash is no longer trash, says Dalio, who calls it more attractive than stocks and bonds

“‘Cash used to be trashy. Cash is pretty attractive now. It’s attractive in relation to bonds. It’s actually attractive in relation to stocks.’” Bridgewater Associates founder Ray Dalio no longer thinks “cash is trash.” In fact, just the opposite. Over the past year, cash has become “pretty attractive” relative to both stocks and bonds, the … Read more

The groundhog saw its shadow. Historically, that is bad news for stocks.

There was breaking news Thursday morning from Punxsutawney, Pa., where the groundhog called Punxsutawney Phil was reported to have seen his own shadow. That means, six more weeks of winter, according to folklore. And not just folklore. As MarketWatch has previously reported, a research paper found a correlation between the groundhog’s predictions — or, rather, … Read more

Crypto is a ‘gambling contract’ not a currency and should be banned, says Charlie Munger

““A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity.”” — Charlie Munger, Vice Chair of Berkshire Hathaway That was Charlie … Read more

‘Decidedly less hawkish’: 4 takeaways from Powell’s press conference as Fed hikes rates again

The Federal Reserve on Wednesday approved a quarter-percentage-point hike in interest rates to a range of 4.5%-4.75%. That was the smallest rate hike in a year, and one that had been telegraphed by many Fed officials. In addition, the Fed’s statement left in language that it saw “ongoing increases in the target range” — which … Read more

Bitcoin jumps 3% after Powell says ‘disinflation’ underway

Bitcoin jumped 3% after the Federal Reserve on Wednesday raised its key interest rate by a quarter of a percentage point, but signaled that only “a couple more” rate increases may be needed before the central bank takes a pause on its fight against inflation. The largest cryptocurrency BTCUSD, +0.29% rose to as high as … Read more

U.S. Treasury to auction $96 billion of notes, bonds next week in refunding, unchanged from last quarter

The refunding: As part of its regular quarter refunding, Treasury announced Wednesday it would sell $96 billion in notes and bonds next week. The size is unchanged from the last refunding in November. The department said it would issue $40 billion in 3-year Treasury notes TMUBMUSD03Y, 3.863% on Feb. 7, $35 billion of 10-year Treasury … Read more