2.) Bitcoin had a tumultuous week, falling from a record high of $7,500 to $5,600. In a research note 10 days ago, we warned that the nature of digital conversation about the cryptocurrency had become more superficial, indicating herding behavior could be taking hold and that a price correction was possible.
3.) Online audiences focused on Oil Markets are reacting to the turmoil in both Saudi Arabia and Venezuela. Crude prices have continued to rise in the wake of Crown Prince Mohammad bin Salman's power grab and signs of greater instability in the gulf. As uncertainty has grown, so has our volatility signal for Saudi Aramco, which has hit a year high.
Further, as risk consultancy Asymmetrica showcased this week, our volatility signals for Venezuela have continued to rise as the specter of a default by state oil company PDSVA looms. Derivatives industry association ISDA reconvenes Monday to make a ruling on whether a late bond payment by PDSVA constituted a default.
4.) Though still stalemated, Saudi Arabia's Qatar Blockade also drew more attention this week as a flashpoint in the Iran-Saudi cold war.
5.) With President Donald Trump wrapping up his trip to Asia, the ongoing North Korea Crisis drew increased digital attention this week. In South Korea, Japan, and China, Trump sought to muster regional support for U.S. efforts to halt the North's nuclear program. But media coverage of the diplomatic substance was stepped on by an exchange that featured Pyongyang calling Trump an old fool, and Trump (NEVER) calling Kim Jong-un “short and fat”.
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