Welcome to Markets Desk, your midday read on what's moving money and markets.
Bitcoin took a sharp hit overnight, with crypto longs losing four hundred four million dollars in just four hours as the price briefly slipped below eighty thousand dollars. Spot bitcoin ETFs saw seven hundred seventy three million dollars in outflows across Thursday and Friday, reversing three straight days of net inflows and rattling sentiment across the digital asset space.
Turning to sovereign credit, France narrowly avoided a Moody's downgrade but the ratings agency kept a negative outlook on the country's Aa three rating, painting a stark picture of fiscal drift and political gridlock. With debt levels stubbornly high and no durable governing coalition in sight, the eurozone's second-largest economy remains a slow-moving pressure point for European bond markets.
And on the energy infrastructure front, Canada is moving to build domestic power transmission lines connecting its own provinces after a century of routing electricity southward into the American grid. The strategic shift, driven in part by trade tensions, raises real questions about grid reliability for northern US states that have long depended on that cross-border supply.
That's the tape. Markets Desk, signing off the floor.
