中信证券： 市场或将更多聚焦AI公司发债、加密货币走势等问题

Core Viewpoint - The New York Fed President Williams hinted at a potential interest rate cut in December, with the market now pricing in a 70% probability of a rate cut by the Federal Reserve in that month [1] Group 1: Federal Reserve Actions - The Federal Reserve will enter a quiet period starting November 29, during which Chairman Powell has no scheduled public appearances or media engagements, making Williams' comments potentially the last influential remarks from Fed officials before the meeting [1] - The expectation is for a "close call" rate cut in December, likely by 25 basis points [1] Group 2: Market Reactions - The reversal of rate cut expectations, combined with the advancement of the "28-point" plan and news regarding the Trump administration's consideration of exporting H200 chips to China, suggests that macroeconomic factors will no longer be a source of pressure for the market in the short term [1] - The market is expected to shift its focus towards issues such as AI companies issuing bonds and the trends in cryptocurrency [1]