Group 1 - The Federal Reserve announced a 0.25% interest rate cut, marking the second reduction this year, bringing the federal funds rate target range to 3.75% to 4% [1] - The Fed's decision reflects its independence from political pressures, focusing on economic conditions rather than political factors [1] - The ongoing government shutdown is limiting the Fed's access to economic data, leading to uncertainty regarding future rate cuts [1] Group 2 - The Fed's quantitative tightening is set to end on December 1, 2025, with reinvestment of mortgage-backed securities (MBS) shifting to government bonds, disappointing market expectations for an earlier implementation [2] - Concerns about layoffs and hiring challenges are heightened due to the government shutdown and recent corporate earnings reports, indicating a volatile labor market [2] - The lack of clear economic data and the Fed's uncertainty about future rate cuts suggest that short-term interest rates will remain high, which could negatively impact small-cap companies that typically hold a higher proportion of floating-rate debt [2] Group 3 - The upcoming US-China trade negotiations are expected to influence market sentiment, with discussions on key issues such as chip export controls, rare earth supply, tariff structures, and the TikTok deal [1] - Progress in these negotiations could boost the US stock market and the overall Chinese market, particularly the technology sector [1]
安本投资：美联储未承诺12月降息 市场关注焦点转向中美贸易谈判
Zhi Tong Cai Jing·2025-10-30 03:09