【UNforex本周总结】美联储降息并购券入场 市场进入“流动性+估值”博弈阶段

Group 1 - The Federal Reserve lowered the federal funds rate by 25 basis points to a range of 3.50%–3.75% and restarted the Reserve Management Purchase (RMP) program, purchasing approximately $40 billion monthly, which is expected to reshape the short-term interest rate and liquidity landscape [1] - Mixed signals from employment and inflation data indicate a potential re-evaluation of policy paths, with weak employment data and persistent high inflation metrics like core PCE [1][2] - The gold market remains strong, testing and stabilizing above $4,250, supported by ongoing geopolitical uncertainties and central banks increasing gold reserves [2] Group 2 - The technology sector is experiencing earnings realization and stock performance divergence, leading to pressure on the Nasdaq, while the Dow and S&P 500 are supported by non-tech sectors reaching new highs [2][3] - The focus on the Federal Reserve's bond purchasing pace suggests that if RMP continues to be executed frequently, the short-term supply-demand dynamics will change long-term, making interest rate strategies a priority [2] - The market is entering a phase of liquidity and valuation interplay, with trading needing to focus on events and prioritize risk management [4]