净买入54亿！昨天，创纪录的美股散户拯救了市场

Core Viewpoint - Despite Moody's downgrade of the US credit rating triggering market sell-offs, US stocks and bonds rebounded strongly, primarily driven by record buying from retail investors [1][3]. Group 1: Retail Investor Activity - Retail investors net bought $4.1 billion by 12:30 PM ET, marking the largest net buying in history for that time period, exceeding 11 standard deviations [3]. - Retail trading volume accounted for approximately 36% of total trading volume, also a historical high, with total net buying reaching an astonishing $5.4 billion by market close [3]. Group 2: Market Reactions and Historical Context - Analysts noted that Moody's downgrade was seen as "academic," with the interest rate market already factoring in the unsustainable nature of the US fiscal deficit [3]. - Historical data suggests that after previous downgrades of US government debt, the stock market underperformed compared to bonds in the following months [6]. - In 2011, during the debt ceiling negotiations, the stock market began to decline and underperformed against bonds after the S&P downgrade [6]. Group 3: Economic Implications and Market Sentiment - There is a paradox where significant spending cuts, even if wasteful, could lead to an economic recession, as highlighted by JPMorgan's analysis [9]. - The market's resilience is likened to an acquired immunity, suggesting that past extreme conditions have altered investor perceptions of risk [9]. - JPMorgan's trading desk maintained a bullish outlook, indicating that any weakness in economic indicators should be viewed as a buying opportunity [10].