Looking at 青遥的主页, the screen is filled with two words: Strength!

At 20:30 Beijing time tonight, three sets of critical data will hit the market like underwater bombs: U.S. initial unemployment claims hit a new low for the year, Q2 GDP soared to 3.3% above expectations, while Canada's current account deficit set a new historical record. According to conventional logic, this 'triple whammy' should trigger a chain reaction of declines in gold, silver, crude oil, and U.S. stocks, but the reality is – HJ only dipped slightly by 0.5%, and S&P 500 futures even reversed to gain 0.2%. Beneath the seemingly calm surface, dark currents are surging wildly.
Why is the market unusually silent? Three major truths emerge.

Expectations overdraft effect: Over the past month, shifting from Powell's dovish stance to disappointing non-farm data, the market has long since torn apart the 'hard landing' script, instead betting on a 'soft landing' or even 'no landing.' Today's data is merely a footnote to this grand play, as institutional funds have already positioned themselves in advance.