The market continued to be turbulent this week. The core point was after Powell's July FOMC meeting calmed the market's possible slowdown in interest rate hikes, but in late August, the market's optimistic expectations of a “downturn in austerity” were completely shattered. The market's optimistic expectations of a “downturn” were completely shattered, and the market was overregulated. From excessive optimism, interest rate cuts soon arrived, to this hope that they were repelled by recent heavy punches from the voting committee.
It can be said that the Fed's management of public expectations is pure fire. After the FOMC meeting in July, the core point of Nasdaq's 4% surge was that Chairman Powell raised his pigeon: “There is a possibility that interest rate hikes will slow down in the future.” This continuation made the market think that next year will be a successor, and the following year may be a successor. This is the appeal of Powell's speech. It is the charm of Powell's speech. It's all up to you to interpret it yourself.
The result is that after the FOMC meeting in July, the Nasdaq rebounded, but last week Powell turned a blind face at the central bank meeting, or people never said, “These are all what you think I mean,” but “in fact, I'm not saying what you understand.” Powell directly stated that it is far from the point where interest rate hikes can be slowed down. In other words, the current economic data held by the Federal Reserve does not support the Fed's rapid easing of austerity policies, yet the core core of this is inflation.
Therefore, after Powell's speech last week, the US dollar index continued to strengthen, breaking through the 110 mark in one fell swoop, and US bond yields rose all the way up. 2-year US bonds...