Here’s Why — TradingView News
An unprecedented surge in the Philadelphia Federal Reserve’s May Manufacturing Business Outlook Survey has jolted global risk markets and given crypto asset traders their clearest macro catalyst of the year. The Future New Orders diffusion index leapt by forty-plus points, a move that Julien Bittel, head of macro research at Global Macro Investor (GMI), called “literally” historic.
Crypto Bulls Can Rejoice
Bittel’s commentary on X framed the print with statistical precision: “Philly Fed data for May dropped yesterday – and the Future New Orders index just made history. Literally. … Expectations for new orders posted the largest monthly spike ever recorded – going all the way back to the index’s inception in…
