纳斯达克大跌可能不只是加息预期所致
Nasdaq’s selloff may have been driven by something more concerning than just rate hike expectations
The author believes that yesterday's sharp decline in Nasdaq may not only be driven by expectations of interest rate hikes, but also an early signal that the market is beginning to be more worried about future economic prospects. After the U.S. core CPI exceeded expectations, far-end interest rate expectations turned dovish, U.S. bond yields fell, copper prices also fell sharply, and credit spreads have issued warnings for several weeks. Technically, the Nasdaq fell below the main upward trend line, and we will focus on key levels such as 28,742 and 26,971 as well as catalysts such as Flash PMI, FOMC meeting and US-Iran negotiations.
This news suggests that the market pricing logic may shift from simply responding to inflation to accounting for slowing growth in advance. The simultaneous decline in yields and weakening copper prices is worthy of attention. For gold, if far-end interest rates fall and risk aversion resonates, it will amplify the game between its interest rate and risk aversion properties; for the foreign exchange market, it is necessary to observe the relative changes in the US dollar between growth concerns and interest rate spread expectations. The subsequent Flash PMI, FOMC meeting and US-Iran negotiations are key windows to verify this logic.
原文把CPI后收益率下行与铜价下跌放在一起看，提示市场正从抗通胀转向担忧增长，并给出纳斯达克关键技术位。
来源：ForexLive · investinglive.com