Global Stocks Near Records as BlackRock Enters DeFi

12 Feb 2026 · 5 min · 3 chapters

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In short

Podcast Episode Notes: Global Stocks Near Records as BlackRock Enters DeFi

Podcast Title

Real Vision: Finance & Investing

Episode Overview

In this episode, the discussion centers around the resilience of global markets following positive labor statistics in the U.S., the implications for interest rates, and significant developments in the digital asset space, particularly BlackRock's new ventures into decentralized finance (DeFi).

Key Highlights

  • Positive U.S. Job Numbers:
  • The U.S. added 130,000 jobs, significantly exceeding expectations.
  • Unemployment rate decreased to 4.3%.
  • Investors are focusing on economic resilience rather than on the potential for aggressive rate cuts by the Federal Reserve.
  • Market Reactions:
  • MSCI’s All-World index is trading near record highs, indicating strong global market performance.
  • South Korea’s Kospi index has surpassed the 5,500 mark for the first time.
  • Federal Reserve Expectations:
  • With current market conditions, the CME FedWatch tool shows a 40% probability of the Fed holding rates steady in June.
  • Upcoming economic indicators to watch include initial jobless claims and the Consumer Price Index (CPI).
  • UK Economic Update:
  • The UK GDP growth was just 0.1% in Q4, with industrial production unexpectedly declining.
  • Nuveen is set to acquire asset manager Schroders for approximately $13.5 billion, which may impact market dynamics.

Digital Asset Developments

  • Crypto Market Stability:
  • Despite Blockfills halting withdrawals, crypto markets remain stable, showing slight gains in European trading.
  • BlackRock’s Entrance into DeFi:
  • BlackRock is introducing its Treasury-backed BUIDL token to Uniswap, marking a significant step into the DeFi space, although only approved institutional investors will have access to trade this token.
  • Ongoing Legal Issues:
  • Court cases involving FTX and Sam Bankman-Fried are resurfacing, with recent developments suggesting potential new trials.
  • Kraken has replaced its Chief Financial Officer in advance of its public listing.

Miscellaneous Updates

  • A mention of a new MIT report expected to generate significant interest among Real Vision Alpha members.
  • Discussions regarding the latest Journeyman episode featuring Raoul Pal and insights into current market views.

Conclusion

This episode provides a comprehensive overview of the current state of global markets, highlights key economic indicators to watch, and discusses pivotal movements in the digital finance space, particularly by major players like BlackRock.

---

Additional Resources

  • Real Vision Merch Store: [Shop Here](https://shop.realvision.com)
  • Connect with Raoul Pal on Social Media:
  • [Twitter](https://twitter.com/RaoulGMI)
  • [Instagram](https://www.instagram.com/raoulgmi/)
  • [LinkedIn](https://www.linkedin.com/in/raoul-pal-real-vision/)

Disclaimer

The views expressed do not represent Raoul Pal’s personal opinions. For more insights from Raoul, check his official content.

Written by AI. May contain mistakes. Listen to the episode to check what was said.

Chapters

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Market Reactions to US Job Numbers

0:45 to 1:41

Discussion on how global investors are responding to strong US job numbers.

“For now, let me get you up to speed on what's driving the markets today.”

Global Economic Updates

1:41 to 2:25

Overview of economic indicators and performance in the UK and South Korea.

“The dollar has fallen, particularly against the yen, which continues to strengthen against the odds following last weekend's election results.”

US-China Trade Talks and Crypto News

2:25 to 3:21

Updates on US-China trade talks and developments in the cryptocurrency space.

“rival Nuveen is acquiring it for$13.5 billion.”
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Transcript

Automatic transcript. May contain errors.

0:05Good to see you my friends. I'm Palvatar, Raoul's AI avatar. The latest MIT report from Julian Bittle lands on Real Vision for Alpha members today, and I bet it will be the most clicked content on the website today. We also have the latest Journeyman for free, where the real Raoul sat down with Evgeny Gokberg. Watch that for an insight into Raoul's current views on the markets, because, as always, what I say here isn't necessarily the same. We also have a conversation for pro between Santiago Velez and Yuval Ruz, who is behind Canton Network, one of the best performing cryptocurrencies over the past couple of months, and one that has entered the top 20 by market cap.

0:50So lots of bangers for our community. For now, let me get you up to speed on what's driving the markets today. Investors around the world have reacted positively to the strong US job numbers, focusing on the health of the US economy over diminished bets for further Fed rate cuts. MSCI's All World Index was trading higher for a fifth straight day, hovering around all-time highs. South Korea's COSPI has crossed 5 ,500 points for the first time. While more traders than not still expect a cut in June, odds on CME's FedWatch tool for a hold have increased to 40%. As a reminder, the US economy added 130 ,000 jobs in January, nearly twice the forecast, and unemployment surprisingly fell to 4.3%.

1:40Attention now turns to initial jobless claims today and the Consumer Price Index tomorrow. The dollar has fallen, particularly against the yen, which continues to strengthen against the odds following last weekend's election results. Gold has also dipped. In the UK, GDP expanded by a meagre 0.1 % in the final three months of the year, as expected. This means the economy grew by 0.9 % in 2025, with the strongest growth coming at the beginning of that year. Industrial production unexpectedly fell by 0.9 % in December, indicating ongoing weakness. Staying in the UK, shares of 222-year-old asset manager Schroder's have surged.

2:24Its US rival Nuveen is acquiring it for$13.5 billion. On the trade front, the South China Morning Post reports that talks between the US and China about President Donald Trump's visit to Beijing in April are ongoing. The newspaper says their trade truce may be extended for up to a year. Crypto has remained steady in the wake of a hot US jobs report, notching some gains in European trading. This is despite Blockfills, the Chicago-based market maker and trading platform for institutions, halting withdrawals. In better news, asset management behemoth BlackRock is further leaning into the digital asset space.

3:04It announced on Wednesday that its Treasury-backed token Bwydel will become available on Uniswap through a partnership with Securitize, marking BlackRock's entrance into DeFi. However, only approved institutional investors will be able to trade it. In other news, there might be more court drama involving Sam Bankman-Fried and FTX after his mother filed for a new trial, and Coindesk reports Kraken has fired its CFO ahead of its upcoming public listing. Okay team, one more update ahead of us tomorrow. I'll see you then.

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From the publisher

Global markets are leaning into growth.

Following the upside surprise in U.S. non-farm payrolls — with 130,000 jobs added and unemployment falling to 4.3% — investors are focusing on economic resilience rather than fading hopes of aggressive rate cuts. MSCI’s All-World index is trading near record highs, while South Korea’s Kospi has crossed 5,500 for the first time.

Attention now turns to initial jobless claims and the upcoming CPI print, which could shape expectations for the Federal Reserve’s June decision. CME FedWatch odds for a rate hold have climbed to 40%.

In the UK, GDP expanded just 0.1% in Q4, while industrial production fell unexpectedly. Meanwhile, Nuveen has agreed to acquire asset manager Schroders for $13.5 billion.

In digital assets, crypto markets remain steady despite Blockfills halting withdrawals. BlackRock is deepening its move into tokenized finance, bringing its Treasury-backed BUIDL token to Uniswap through Securitize. Court drama surrounding FTX has resurfaced, and Kraken has replaced its CFO ahead of its public listing.

A busy macro backdrop with institutional crypto developments accelerating beneath the surface.

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Disclaimer: These views are generated by AI and do not represent Raoul Pal’s personal opinions. For Raoul’s latest insights, check out his official videos, reports, and tweets.

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