Group 1 - The core point of the article is that the recent ADP employment report indicating a loss of 32,000 jobs in November has led to market speculation that interest rate cuts are likely, despite the negative employment data [1][2][4] - The market reaction shows a decline in the dollar and an increase in asset prices, reflecting a belief that interest rate cuts are secure [3][4] - There is a prevailing uncertainty in the market regarding whether the economy is experiencing a soft landing or is at risk of deteriorating significantly [1][4][6] Group 2 - The market's current optimism is based on the expectation that the economy will gradually weaken rather than face sudden downturns [4][5] - The upcoming non-farm payroll data, set to be released on December 16, is critical; a significant decline could shift market sentiment from euphoria to panic [4][5] - The recent decline in gold prices signals a hesitation among investors regarding the economic turning point [6]
全球狂欢，黄金却突然沉默
Jin Rong Jie·2025-12-04 00:47