Welcome to Markets Desk, here's what's moving the needle this hour.
Goldman Sachs is warning that the housing market, already stuck in a three-year rut with mortgage rates above seven percent and transaction volumes essentially flat, has further room to deteriorate. The bank sees no near-term catalyst for relief, a sobering read for homebuilders and rate-sensitive financials alike.
Shifting to dealmaking, Eli Lilly has inked a collaboration with METiS TechBio worth one point one billion dollars, targeting AI-designed lipid nanoparticle drug delivery to specific tissues. It's a significant bet on next-generation delivery technology and signals Lilly is moving aggressively to stay ahead in the biologics pipeline race.
And in digital assets, BlackRock has filed for a third Bitcoin ETF, this one structured with options to cap both gains and losses, a so-called buffer strategy that broadens their product lineup beyond their existing Bitcoin and Ether funds. Notably, no Solana, no XRP — BlackRock is staying firmly in Bitcoin territory for now.
That's the tape. Markets Desk, signing off the floor.
