Good morning, you're listening to Markets Desk.
The dollar came under pressure Monday as equities surged and crude oil slid sharply lower. The dollar index dropped more than half a percent, with WTI crude falling roughly four percent, cooling inflation expectations and raising fresh speculation that the Fed may have room to ease. That combination pulled safe-haven demand out of the greenback.
Shifting to the labor market, October's jobs report came in well ahead of forecasts, surprising economists who had braced for softness. Three underlying factors drove the beat, pointing to resilience in hiring that complicates the Fed's path forward and keeps the debate over the pace of rate cuts very much alive heading into year-end.
And in a story worth watching closely, asset management giant Amundi has tokenized a share class of a European equity fund on the Ethereum blockchain, with the announcement dated November fifth. The move signals growing institutional appetite for on-chain fund infrastructure, though Amundi has left critical details around investor access, transfers, and redemptions entirely unspecified, which raises real questions about practical utility.
That's the tape. Markets Desk, signing off the floor.
