In late July last year it also seemed that it is about Japan. But it never is. It is always about US. Japan is just first to open market because of timezone đ. You say but it is carry trade. But who do you think are those investors carrying it, and which government allows to leverage it so much? It is always US which exploit high risk opportunities to the max and hope to fix things later by creating new money.
We may be entering few month long accumulation period. Iâm not so confident in quick rebound and new ATHs right now. But it is not impossible.
Economic metrics are not great. And 25bp rate cut wonât make much of a difference, neither appointing a new FED chair.
However there likely will be pump before holidays so banks can take profit in the end of year and traditionally one more in January. But how genuine and strong they will be - it is not clear..
