At present, the overall trend of the risk market has clearly shown "fatigue". Obviously, the previous trade easing has caused risk assets to rise excessively, and further rise requires more favorable stimulation.
If it is too rigid, it will break easily. If it rises too much, it needs to be consolidated and adjusted, otherwise it will lead to excessive risk in the risk market.
At the same time, it is estimated that in the absence of macroeconomic narratives next week, the potential crisis sentiment brought by the high yields in the bond market will be mentioned again, and the market shock correction is indeed more in line with the main "plot".
It should be noted that the current decline of the US dollar index may be because the US and the global trade agreement contain a little monetary policy. Trump tried to let the trading opponents take the initiative to increase the currency value in exchange for the trade agreement.
Especially when the European currency and the Japanese and Korean currencies appreciate, the US dollar index will passively fall again.
In the future, we can judge whether Trump's trade agreement with Europe will proceed smoothly by paying attention to the fluctuation value of the US dollar.
Tomorrow PPI will be the only bullish narrative this week.
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