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US Labor Market Shows Recession-Level Weakness Outside One Sector

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The US labor market appears increasingly reliant on a single driver. Labor Department data shows that healthcare and social assistance have accounted for nearly all net private-sector job growth since December 2024, while the rest of the economy has shed jobs.

A breakdown of the numbers reveals a sharp divide between one booming sector and widespread weakness across virtually every other industry. 

Healthcare Props Up US Labor Market as Rest of Private Sector Contracts

The Global Markets Investor noted that the US economy has added an average of just 21,000 jobs each month since the beginning of 2025. This represents an annual pace of roughly 0.2%.

The post stated that the job creation has “never been this weak” outside of a formal recession. To put this in perspective, annual employment growth averaged about 2.2% between 1948 and 1979, slowed to 1.5% from 1980 to 2007, and dropped further to roughly 0.8% during both 2008–2019 and 2020–2024.

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At present, job growth is running at a pace nearly four times weaker than during the post-financial crisis period and more than ten times weaker than during the post-war expansion.

Meanwhile, healthcare and social assistance have added approximately 57,000 jobs per month since December 2024. That means the rest of the private sector has been losing an estimated 21,500 jobs per month over the same stretch.

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“Since December 2024, healthcare and social assistance has added ~855,000 jobs, while the rest of the private sector has lost -322,000. That means a single sector is masking a broad-based CONTRACTION across the rest of the world’s largest economy,” Global Markets Investor wrote. “Healthcare and social assistance now represents NEARLY ALL net private-sector job creation since the end of 2024.”

Healthcare Job Growth vs. the Rest of the Private Sector Since December 2024.
Healthcare Job Growth vs. the Rest of the Private Sector Since December 2024. Source: X/Global Markets Investor

The March 2026 jobs report reinforced the pattern. The economy added 178,000 nonfarm payrolls, but healthcare alone accounted for 76,000 of those positions.

“Remove one sector and the labor market is already in a RECESSION,” the post added.

This concentration raises a key concern: without one sector propping up employment, the broader labor market may already resemble recessionary conditions, even as headline figures suggest continued growth.

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MicroStrategy Wrote the Corporate Bitcoin Playbook Once: Can It Do It Again With STRC?

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MicroStrategy raised $1.56 billion through its Stretch (STRC) preferred stock in March 2026, funding roughly half of the month’s Bitcoin (BTC) purchases. Meanwhile, some peers across the Digital Asset Treasury (DAT) sector liquidated holdings.

The divergence highlights a widening gap between Strategy and a growing list of DAT firms forced to sell BTC amid suppressed prices and thinning margins. It also raises a key question for the sector. Could preferred equity instruments be the primary capital-raising tool for BTC-focused companies?

Strategy’s STRC Playbook Funds Billions in BTC as Rivals Sell

Strategy has accumulated nearly 90,000 BTC worth approximately $7.25 billion in 2026. That figure already equals 40% of its total 2025 purchases and represents 10 times the BTC it accumulated during the entire 2022 bear market.

STRC offers a cumulative dividend of 11.5% annually, paid monthly and adjusted to keep the instrument trading near its $100 par value. The yield and low volatility have driven significant demand. 

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Binance Research noted that trading volume in March hit a record $4.35 billion, up 95% from the prior month.

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MicroStrategy’s STRC Stock Issuance To Fund BTC Purchases
MicroStrategy’s STRC Stock Issuance To Fund BTC Purchases. Source: Binance Research

Meanwhile, some firms are heading in the opposite direction. For instance, MARA Holdings sold 15,133 BTC for roughly $1.1 billion to retire convertible debt. Riot Platforms offloaded 3,778 BTC worth $289.5 million in Q1 2026. Core Scientific sold 1,900 BTC in January. 

Genius Group liquidated its entire 84.15 BTC treasury on April 1. Nakamoto Holdings trimmed its reserves by approximately 284 BTC in March for about $20 million.

“While the broader Digital Asset Treasury (DAT) sector faces liquidity constraints amid suppressed BTC price action and shrinking mNAV premiums, Strategy is aggressively distancing itself from peers,” Binance Research wrote.

The contrast is stark. DAT firms are burning through BTC reserves to fund operations and manage debt while also battling heavy stock losses. Strategy, through STRC stock, has built an alternative funding channel that allows it to keep buying.

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Preferred Equity Contagion Has Begun

Strategy is no longer alone in this approach. Strive has raised over $250 million through SATA, a similarly structured preferred equity instrument with a 12.75% dividend. 

“If the STRC model proves continuously successful, sector-wide replication is imminent,” Binance Research suggested.

For DAT firms currently forced to sell BTC to cover operating costs and service debt, a preferred equity vehicle could offer an alternative. Rather than liquidating reserves at suppressed prices, companies could issue yield-bearing instruments that attract fixed-income capital and convert it into BTC purchases.

If this model gains broader adoption, it could establish what Binance Research describes as a “new sector-wide structural bid for Bitcoin.”

“However, aggressive issuance of STRC could quickly consume Strategy’s US$2B cash reserve, especially during unfavorable BTC price action. Critically, there is no baked-in structural floor for STRC if market conditions severely deteriorate,” the report added.

Whether this model spreads further may depend on how it performs through a sustained downturn. For now, MicroStrategy is buying while others sell, and the preferred stock playbook is at the center of it.

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Constellation Brands (STZ) Q4 Earnings Preview: Wall Street Braces for Volatility

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STZ Stock Card

Executive Summary

  • Constellation Brands delivers Q4 FY2026 financial results on April 8
  • Consensus forecasts point to earnings per share between $1.71 and $1.74 with revenue around $1.87–$1.9 billion
  • Options market anticipates a ±5.6% price movement following the release — significantly above the 2.89% historical quarterly average
  • Beer segment revenue anticipated to remain steady at $1.71 billion year-over-year; Wine & Spirits revenue expected to decline 57.6%
  • Wall Street consensus leans Moderate Buy with a $169.00 average target price, suggesting approximately 11.77% potential upside

Constellations Brands prepares to unveil its fourth quarter Fiscal 2026 financial performance on April 8, drawing significant attention from the investment community.


STZ Stock Card
Constellation Brands, Inc., STZ

Wall Street forecasts are converging around earnings per share of $1.71 to $1.74, although UBS analyst Peter Grom takes a more conservative stance with a $1.59 projection — noticeably beneath the Street consensus. Revenue expectations range from $1.87 to $1.9 billion, representing an approximate 12–13% decline compared to the corresponding quarter in the previous fiscal year.

The anticipated revenue contraction stems predominantly from the Wine and Spirits division, where analysts project a dramatic 57.6% year-over-year decrease to approximately $194.97 million. This steep decline reflects Constellation’s divestiture of a substantial portion of that business segment, creating a challenging year-over-year comparison. Wine and Spirits operating income is forecast at a mere $2.39 million, a sharp contrast to the $99.70 million generated in the same period last year.

Meanwhile, the beer portfolio — featuring flagship brands Modelo and Pacifico — demonstrates resilience. Beer segment net sales are projected at $1.71 billion, essentially unchanged from the prior year period. Beer operating income expectations stand at $573.63 million, representing a modest decline from the $623.80 million recorded in last year’s fourth quarter.

Derivatives Market Signals Elevated Volatility Expectations

The options market is incorporating a ±5.6% price movement following the earnings announcement — substantially exceeding the stock’s 2.89% average post-earnings fluctuation across the previous four quarters. This elevated implied volatility indicates considerable market uncertainty surrounding the upcoming results.

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Grom from UBS recently elevated his price objective to $176 from $168 while maintaining a Buy recommendation. He cautioned that investor expectations have climbed heading into the release, noting that STZ shares don’t consistently rally even following positive results. His analysis suggests any post-earnings weakness would likely prove temporary.

Evercore ISI analyst Robert Ottenstein takes a more optimistic view on the forthcoming numbers. His EPS model of $1.73 exceeds consensus estimates, and he anticipates beer sales will surpass Street projections. Ottenstein cited encouraging distributor commentary and strengthening beer volume trends as catalysts supporting his bullish outlook.

Premium Beer Portfolio Drives Narrative

Modelo continues ranking among the top-performing beer brands across the U.S. marketplace, with that momentum serving as the primary driver behind STZ’s positive year-to-date performance.

Ottenstein recognized potential margin headwinds from cost pressures but characterized the overall demand environment as solid. Grom reinforced this perspective, highlighting favorable category momentum and consistent market share expansion.

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STZ maintains a Moderate Buy rating consensus across Wall Street — with nine Buy recommendations, five Hold ratings, and one Sell rating issued over the trailing three months. The consensus price target registers at $169.00.

During the past month, STZ delivered a +2.7% return, outperforming the S&P 500 composite’s -4.2% decline. The equity currently maintains a Zacks Rank #3 (Hold).

The Q4 financial results announcement is scheduled for April 8.

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Iran War Bets Put Crypto Prediction Markets on the Macro Map

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Iran, Donald Trump, ARK, Trading, Institutions, Polymarket, Kalshi, Prediction Markets

Prediction markets rapidly repriced the odds of US escalation in the Iran conflict, offering a real-time signal of geopolitical risk for traders.

Odds on platforms such as Polymarket and Kalshi shifted in real time as President Donald Trump paired new threats with signals of possible negotiations on Sunday, while Bitcoin (BTC) rose more than 3.5% on Monday.

Crypto prediction markets are no longer a sideshow during periods of geopolitical tension, with professional desks increasingly using them to gauge macro risk, according to Sygnum Bank chief investment officer Fabian Dori.  

“Prediction markets price discrete, named outcomes with real capital behind them,” Dori told Cointelegraph. “For crypto in particular, where so much price action is driven by specific binary events, regulatory decisions, geopolitical developments [and] protocol upgrades, that is a categorically different signal.”

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Related: Brandt says Bitcoin yet to bottom, Polymarket sees hope: Trade Secrets

Throughout the Iran conflict escalation, prediction market odds on de-escalation shifted before mainstream financial media coverage caught up and “had direct correlation” with Bitcoin price, Dori added.

Prediction markets enter macro playbooks

On some professional desks, prediction markets are now used as a real-time event monitor during fast-moving geopolitical situations, alongside funding rates, options surfaces and flows, Dori said.

ARK Invest integrating Kalshi’s prediction market data into its investment process shows how event odds are migrating into mainstream institutional workflows.

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Iran, Donald Trump, ARK, Trading, Institutions, Polymarket, Kalshi, Prediction Markets
Prediction markets on Iran. Source: Kalshi

In a regulated environment, prediction markets function as a context layer, informing how teams frame risk scenarios rather than serving as direct buy-or-sell signals. 

Related: Prediction markets are testing legal limits in strict Asian markets

“The goal is to decide what to do before the event happens,” he said, arguing that markets that continuously update a capital-weighted probability of war, sanctions or ceasefire are a natural fit for that discipline.

Institutional money and growing scrutiny

The flows are now large enough that institutional investors can no longer dismiss the signal as retail noise. In March, the number of prediction market transactions reached about 191 million, up 2,838% year-on-year, with monthly notional volume rising to roughly $23.9 billion. 

At the same time, traditional exchange operators are moving in. Intercontinental Exchange, the parent of the New York Stock Exchange, completed a new $600 million investment in Polymarket on March 27, deepening its conviction in prediction markets.

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“This is no longer a niche product,” Dori said, adding that the real question for professional investors is no longer whether to watch Iran-linked markets at all, but “how to integrate them in a way that adds genuine analytical value rather than simply adding a new source of noise.”

The boom is also drawing tougher questions about fairness and integrity. Six Polymarket traders netted around $1 million betting on the timing of US strikes on Iran in late February, sparking insider trading concerns.

The platform also pulled a market on a missing US pilot on Saturday after backlash over over related wagers.

Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation — Santiment founder

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