"The market's panic sentiment may gradually spread from this morning if it is not relieved." It was already clear in the morning, but unfortunately, many friends are still asking why it is falling.
The current situation is that the market believes that the 50 basis point rate cut is likely driven by economic problems, so the risk aversion sentiment remains very strong. The yield of US Treasury bonds continued to decline after the US stock market opened, gold maintained its position at a new high, US stocks continued to decline, and cryptocurrencies continued to fall.
Now, we are waiting for either Nick to come out and explain, or we have to tough it out until 2 am on the 19th for the results. If it's a 25 basis point cut, the market will reverse; if it's 50, the panic will continue. Then at 2:30 am, Powell will explain. If the explanation is clear, there will be a rebound; if not, the panic will intensify. Then we wait for the market to digest it on its own.
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