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[The Opening Ceremony Of "Trump Market" Is Officially Over: See How The Market Prices The "debt Crisis" From The Rise In Term Premium] The Cryptocurrency Market Has Experienced Major Shocks This Week, And The Price Trend Has Shown An M-head Shape, Indicating That With Trump 1 He Officially Took Office On March 20, And The Capital Market Began To Price The Opportunities And Risks After His Election. The Opening Ceremony Of The "Trump Market" That Lasted For Three Months Ended. The Author Believes That The Prices Of High-growth Risk Assets, Including The Crypto Market, Will Continue To Be Under Pressure In The Short Term, As The Term Premium In The U.S. Treasury Market Is Amplified, Mid- And Long-term Interest Rates Are Rising, And The Market Is Pricing In The U.S. Debt Crisis. Macroeconomic Indicators Are Strong And Inflation Expectations Have Not Intensified Significantly, Which Has Little Impact On Current Price Trends. The Long-term Interest Rates Of U.S. Treasury Bonds Continue To Rise, The Term Premium Is Rising Under The Bearish Steep Pattern, And The Market Is Pricing In A U.S. Debt Crisis. High-growth Companies Are Affected By Rising Financing Costs, Valuation Pressure, Changes In Market Preferences, And Restricted Capital Expenditures, While Stable Companies Are Relatively Mildly Affected. The Rise In Far-end Interest Rates On Government Bonds Has A Significant Impact On The Market Value Of Technology Companies Such As Cryptocurrency. The Market Is Worried About The Development Of The U.S. Economy In The Medium And Long Term, Focusing On The U.S. Fiscal Deficit. The Market Is Pricing In The Risk Of A Potential U.S. Debt Crisis After Trump Takes Office, And Attention Needs To Be Paid To The Impact Of Political Information And Stakeholder Views On Debt Risk. The Author Will Continue To Follow Up

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