全球金融市场周二收盘点评：投资人担忧美股高位风险，美联储开启会议

Market Overview - The US stock market has shown strength, leading to historical highs in Taiwan, South Korea, and Japan, with the MSCI Asia-Pacific index also reaching new peaks amid global expansion trends [1] - Emerging markets and Asian developed countries continue to deliver strong returns, although discussions about the sustainability of this performance are increasing [1] - The market sentiment remains cautiously optimistic, but declining PMI data and weakening earnings expectations are tempering this optimism [1] Stock Market - The US stock market experienced low trading volumes, closing mostly flat, with energy stocks rising and utility stocks declining [1] - European stock markets faced their largest decline in two weeks as traders await the Federal Reserve's decision, with renewed focus on tariff issues related to potential new taxes on auto parts [1] - Emerging markets have risen for the eighth consecutive day, supported by enhanced risk appetite and optimistic business sentiment, with emerging market currencies generally strengthening against the US dollar [1] Bonds - Despite strong retail sales data, interest rates have slightly increased ahead of the Federal Reserve's meeting minutes [2] - The expectation of a 68 basis point rate cut by the Federal Reserve has been reflected in the December meeting, indicating anticipated cuts of 25 basis points in the upcoming meetings [2] - The comments from new Federal Reserve Governor Stephen Miran regarding the central bank's third goal of "moderate long-term rates" have sparked debate and prompted a reevaluation of related models [2] Forex and Commodities - Gold prices have reached a new historical high, with a year-to-date return of 40%, drawing attention to comments about central bank gold holdings surpassing US Treasury holdings [3] - The Japanese yen has strengthened following the announcement by Agriculture Minister Junichiro Koizumi regarding his candidacy for the Liberal Democratic Party leadership, with expectations that he is unlikely to interfere with the Bank of Japan's interest rate hike intentions [3] Oil Prices - Oil prices have surged significantly due to escalating conflicts in the Middle East and increased drone attacks by Ukrainian forces on Russian energy facilities [4]