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Golden Ten Data reported on May 29 that Federal Reserve's Musalem stated on Thursday that, like several other Fed policymakers last month, he believed the phrase "easing bias" should be removed from the post-meeting statement to create the possibility for rate hikes.

The head of equities and equity derivatives strategy at Citadel Securities stated that as geopolitical sentiment improves, market volatility remains low, and large technology stocks continue to lead gains, investors who have been cautious during most of the prior rebound are being forced to reconsider their positions. In a report to clients on Thursday, Rubner wrote: “The focus of market discussion is increasingly shifting from downside protection to how much cash is still on the sidelines, where the next batch of incremental buyers will come from, and whether systematic capital flows can continue to drive this rally.”

The market capitalization of Tether's USAT stablecoin increased more than sixfold in April to $141 million. The latest reserves report indicates the growth is driven by institutional demand for capital management, settlement, and US dollar liquidity. USAT was launched in January, and its market cap remains far below Circle’s $7.6 billion USDC, PayPal’s $550 million PYUSD, and Ripple’s $170 million RLUSD.