June core CPI comes in below expectations; market odds of a September rate cut rise to 68%

Impact percentages are model estimates, not observed price changes, probabilities or guaranteed returns.

Transmission logic: Crypto is the most liquidity-sensitive risk asset, with the most upside torque as rate-cut expectations build.

1. #1ETHEthereumWatchlist

   7%

   Same liquidity sensitivity as BTC with higher beta

2. #2BTCBitcoinWatchlist

   6%

   A cash-flow-free asset priced almost entirely by liquidity

3. #3COINCoinbaseWatchlist

   5%

   Doubly geared to trading volumes and coin prices

4. #4WULFTeraWulfWatchlist

   4%

   Mining revenue tracks coin prices; financing costs track rates

Impact percentages are model estimates, not observed price changes, probabilities or guaranteed returns.

Transmission logic: As discount rates fall, the longest-duration growth stocks have the most valuation upside.

1. #1TSLATeslaWatchlist

   3%

   High beta plus back-loaded cash flows make it the most rate-sensitive

2. #2NVDANVIDIAWatchlist

   2%

   Growth-stock valuations lift across the board

3. #3AAPLAppleWatchlist

   1.5%

   Defensive profile, so relatively less upside torque

Impact percentages are model estimates, not observed price changes, probabilities or guaranteed returns.

Transmission logic: Lower funding costs plus asset repricing directly benefit rate-sensitive sectors.

1. #1PLDPrologisWatchlist

   3%

   Logistics real-estate valuations are highly rate-sensitive

2. #2AMTAmerican TowerWatchlist

   3%

   A highly levered REIT; interest expense falls directly