What Changed in Crypto Markets While You Were Sleeping — April 26

NANO is having a tough time recovering ground after a huge push to $13.45 on April 18.

Ethereum gas fees had dropped to weekly lows, with fast transactions costing just 54 gwei.

Subscribe for freeThe big picture: Axios’ Joann Muller highlights that the electric carmaker achieved record production and deliveries, despite supply chain challenges that have roiled the industry.Watch this space: CEO Elon Musk said Tesla was able to weather the chip shortages and supply chain issues in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”Musk also reaffirmed that overall delivery growth is expected to exceed 50% this year, even though the company reported zero production of its Model S and X with some deliveries from existing inventory.Musk also said Model S deliveries will start in May and the Model X in Q3.Like this article? Get more from Axios and subscribe to Axios Markets for free.

What Happened: Google Trends data shows that Google searches for Bitcoin in Turkey skyrocketed after Turkey’s central bank on April 16 said it would ban the use of cryptocurrencies and crypto assets for purchases beginning April 30.

Despite the ongoing bounce, there are no clear bullish reversal signs for bitcoin.

Inovio assured us that the government has no insight on the ongoing Phase 2/3 trial, which is randomized and blinded.” “Recent data from INO-4800 against COVID-19 variants adds to our belief that INO’s vaccine is safe and effective; which it should demonstrate in the Phase 2 update of the trial, planned shortly.

Members of the World Trade Organization are due to discuss a proposal by India and South Africa to waive certain provisions of the WTO’s Agreement on Trade-Related Aspects of Intellectual Property Rights on April 30, but the United States and a few other big countries have blocked such a move.

The company, which has development programs for conditions including hepatitis B, prostate cancer and non-small cell lung cancer, has raised $216 million to date from Gilead Sciences, Sequoia Capital China and Oxford Sciences Innovation among others.

and Wells Fargo all managed to limit or avoid damage, Morgan Stanley was criticized by some investors and analysts for revealing a $911 million loss only during its earnings this month.UBS fell as much as 4% in Zurich trading, leading European bank stocks lower, as investors digested the Archegos impact, which the bank had considered not material enough to disclose earlier.The “Archegos losses have taken the shine of these results,” JPMorgan analysts Kian Abouhossein and Amit Ranjan wrote in a note.The turmoil at cross-town rival Credit Suisse had afforded Hamers a period of relative calm, even as the bank fights a $4.5 billion penalty in France and the new CEO himself saw his short tenure complicated by a Dutch probe into his role in a money-laundering case at his former employer ING Groep NV.UBS booked a $774 million hit from Archegos in the first quarter, driving down revenue from equities trading by 20%.

London time.The Stoxx Europe 600 Index decreased 0.1%.The MSCI Asia Pacific Index fell 0.3%.The MSCI Emerging Market Index increased 0.1%.CurrenciesThe Bloomberg Dollar Spot Index gained 0.1%.The euro was little changed at $1.2084.The British pound advanced 0.1% to $1.3911.The onshore yuan was little changed at 6.484 per dollar.The Japanese yen weakened 0.1% to 108.24 per dollar.BondsThe yield on 10-year Treasuries advanced one basis point to 1.58%.The yield on two-year Treasuries gained less than one basis point to 0.17%.Germany’s 10-year yield decreased less than one basis point to -0.26%.Britain’s 10-year yield advanced one basis point to 0.763%.Japan’s 10-year yield climbed less than one basis point to 0.085%.CommoditiesWest Texas Intermediate crude gained 0.9% to $62.45 a barrel.Brent crude increased 0.7% to $66.11 a barrel.Gold strengthened 0.2% to $1,784.68 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

When the Federal Open Market Committee begins its two-day meeting on Tuesday, it ought to consider whether its policies aimed to bolster housing may be having negative side effects.

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