【Powell will give a speech this Friday evening, some traders have lowered interest rate cut expectations】According to Golden Finance, Federal Reserve Chairman Powell will deliver a key speech at this annual gathering in Wyoming this Friday evening, Beijing time. At the same time, the latest inflation data, which exceeded expectations, has prompted some traders to lower their interest rate cut expectations while still maintaining the judgment of a rate cut next month. Ian Lyngen, head of U.S. interest rate strategy at BMO Capital Markets, stated in a research report that as the market prepares for Powell's speech in Jackson Hole, the biggest risk facing U.S. Treasury bonds is that the Federal Reserve Chairman may dampen the market's widely held expectation of a rate cut in September. Currently, about 325,000 option positions (costing about $10 million) could profit up to $100 million if the Federal Reserve cuts rates by 50 basis points at the September policy meeting. In addition, current market pricing shows that the probability of a 25 basis point rate cut at the September 16-17 meeting is about 80%. (Golden Ten)