BlockBeats news, on August 18, CITIC Securities research report stated that after the U.S. July CPI was released on August 12, the style switch in the U.S. stock market reminded the market of the 'rate cut trade' that occurred after the U.S. June CPI was released on July 11, 2024. However, on August 14, the U.S. July PPI exceeded expectations, pouring cold water on the already initiated 'rate cut trade', causing the market to become entangled. We believe that if Powell adopts a dovish stance at the Jackson Hole Global Central Bank Annual Meeting next Friday, officially announcing a rate cut in September, the main line of the 'rate cut trade' in the U.S. stock market may be clarified again. At that time, the rally in the Russell 2000, S&P 500 Real Estate, and Nasdaq Biotechnology, which are sensitive to interest rates, may reoccur during the 'rate cut trade' in July 2024. (Jinshi)

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