The market recently resembles a tangled little hedgehog —
On one hand, people are guessing where the Federal Reserve's "shadow chairman" will steer policy, fearing a loss of independence;
On the other hand, they are hoping for interest rate cuts and monetary easing, with the options market betting on three cuts this year;
As a result, U.S. Treasury bonds are being issued more frequently than deliveries, crazily draining market liquidity, and dousing expectations for rate cuts with cold water.
Buying cryptocurrencies makes one fear becoming the "bag holder" due to liquidity withdrawal, while not buying creates anxiety about missing out on interest rate cut benefits; investing in stocks brings hopes for easing but fears of cash shortages, leaving one feeling quite helpless…
All that’s left is to wait for the Federal Reserve's statements and monitor the progress of U.S. Treasury bonds; everyone is walking on a tightrope here 😮💨#下一任美联储主席人选 #比特币流动性危机