Jin Shi Shu Ju·2025-06-27 13:56Market Overview - The US dollar index has been under pressure, hitting a new low since March 2022, primarily due to dovish comments from the Federal Reserve and easing geopolitical tensions in the Middle East [1] - Spot gold prices have continued to decline, hovering around $3265 per ounce, despite increased expectations for rate cuts later this year [1] - Silver has shown relative strength, reaching a high of $36.81 per ounce before retreating [1] - International oil prices have seen significant declines due to reduced tensions in the Middle East, although demand concerns have provided some support [1] Cryptocurrency and Stock Market - The Federal Housing Finance Agency has allowed Fannie Mae and Freddie Mac to include cryptocurrencies in mortgage risk assessments, leading Bitcoin to surpass $108,000, setting a new record [2] - US stock markets have performed strongly, driven by expectations of policy easing and gains in technology stocks, with the S&P 500 briefly surpassing its historical high [2] Investment Bank Insights - Global central banks are considering reallocating funds from the US dollar to gold, euros, and renminbi [5] - Morgan Stanley predicts the Federal Reserve will cut rates seven times by 2026, with rates eventually falling to between 2.5% and 2.75% [5] - Citigroup believes the AI boom will overshadow Middle Eastern risks, raising its year-end target for the S&P 500 to 7000 points [5] - Bank of America reports increased investor interest in Japanese stocks due to high valuations in US equities [5] Economic Indicators - Federal Reserve Chairman Jerome Powell emphasized that no rush to cut rates will occur until economic data becomes clearer, with upcoming data from June to August being crucial [7] - The US economy has shown signs of weakness, with the first quarter GDP revised down to -0.5%, marking the first economic contraction in three years [7] - The core PCE price index for May slightly exceeded expectations at 2.7%, while personal spending saw a decline of 0.1%, the largest drop since the beginning of the year [8] Geopolitical Developments - A ceasefire agreement between Iran and Israel has been reached, although tensions remain high, with Trump expressing dissatisfaction over the situation [11][12] - The Iranian parliament has approved a bill to suspend cooperation with the International Atomic Energy Agency, potentially violating existing agreements [13] Corporate Developments - Guotai Junan International has become the first Chinese brokerage to receive a full license for virtual asset trading in Hong Kong, leading to a significant surge in its stock price [14] - Tesla's sales in Europe have continued to decline for the fifth consecutive month, with a drop of 27.9% in May, despite overall growth in the electric vehicle market [15] - NATO has set a historic defense spending target of 5% of GDP by 2035, raising concerns about the feasibility of such spending given current public debt levels in many European countries [16] Trade Relations - The EU is preparing to impose significant tariffs on US goods if trade negotiations do not reach an agreement by July 9 [17][18] - Disagreements within the EU regarding concessions to the US have emerged, with some countries favoring a temporary agreement while others, like France, demand a comprehensive zero-tariff deal [18][19] Product Launch - Xiaomi has launched its first SUV, the YU7, with a starting price of 253,500 yuan, receiving over 280,000 pre-orders shortly after its announcement [20][21] Company Performance - Nvidia's stock has surged to a new high, reclaiming its position as the world's most valuable company with a market capitalization of approximately $3.8 trillion [22]