#美联储重启降息步伐 Is the underlying logic of global asset allocation really being restructured?$LUNC $LUNA

In recent months, several seemingly unrelated events have been happening simultaneously: central banks around the world continue to sell off US Treasuries, JPMorgan has moved its gold trading team to Asia, Japan has ended negative interest rates and started raising rates, while the Fed’s rate cut expectations are fluctuating back and forth.

Each of these alone isn’t particularly new, but happening together makes it worth pondering. Leveraged funds are starting to pull back due to rising yen interest rates, putting pressure first on high-volatility assets. The signs of pricing power shifting to Asia are becoming increasingly obvious, and the reduction in US Treasuries directly reflects a declining appeal of traditional safe-haven assets.

In the short term, the market will likely keep tossing and turning, but the turning point of a major cycle is often hidden in this kind of chaos.

Where do you think the next wave of liquidity will flow? Share your thoughts in the comments.