20:30一声巨响，世界放弃幻想

Group 1 - The core point of the news is the significant impact of the July PPI data on market expectations regarding interest rate cuts by the Federal Reserve, leading to a shift in sentiment away from aggressive rate cuts [1][2] - The July PPI year-on-year rate increased to 3.3%, up from a previous value of 2.4%, and the month-on-month rate rose to 0.9%, compared to a previous value of 0.00% [1] - The PPI data has created uncertainty for the Federal Reserve's interest rate decisions, with the probability of a 25 basis point cut in September dropping to around 85% from 100% [2] Group 2 - The communication from Federal Reserve officials before and after the PPI data release indicates a strategic effort to maintain policy flexibility and manage market expectations regarding rate cuts [3] - The remarks from San Francisco Fed President Daly and St. Louis Fed President Bullard suggest a cautious approach to potential rate cuts, with concerns about inflation pressures from tariffs [3] - The market reaction to the PPI data included a halt in the upward trend of U.S. stocks, a significant drop in gold prices, a decline in Bitcoin, and a sell-off in U.S. Treasuries, while the dollar index recovered its previous losses [3]