No Data
Powell's first day of Congressional hearings: there is also a possibility of an early interest rate cut, and it cannot be ruled out that tariffs have a lower-than-expected impact on inflation.
When asked about the possibility of an interest rate cut in July, Powell said, "Many paths are possible," and it may be seen that inflation is not as strong as expected. A decline in inflation and a weak labor market could mean an earlier interest rate cut. Powell stated that tariffs' impact on inflation will be visible in the data for June and July, and at least some tariffs will be borne by consumers, which has not fully restored price stability. The reason the Federal Reserve has not cut interest rates so far is that professional forecasters expect inflation to rise this year, and tariffs bring uncertainty; the economic outlook is "very uncertain." The real estate market is indeed affected by interest rate policies, but in the long term, it does not affect the supply and demand of the market, as interest rates are at a moderately restrictive level.
Institutions: Chinese innovative drugs are booming, but how far are they from the international leading level?
Tianfeng believes that the gap between China and the world in terms of the time for the first innovative drug to be listed for the same target has reduced from over 10 years to within 1-5 years; in terms of clinical quantities, Chinese innovative drugs now account for over 30% globally, and popular targets exceed 60%; regarding BD transactions with upfront payments of over 50 million dollars, the share of Chinese molecular projects has surpassed 25%.
Bank of America outlines two extreme scenarios, predicting that the risk of a crash will concentrate in the summer!
Bank of America warns of two extreme paths: the Federal Reserve may either remain inactive for the entire year or implement an emergency rate cut of 75 basis points in September, clearly stating that the "dot plot" is impractical in an uncertain environment.
The old bond king issued a warning: the 10-year U.S. Treasury yield is unlikely to break below the 4.25% bottom, and the AI-driven "mini bull market" for U.S. stocks continues.
A legendary figure in the Bonds market warns that due to the growing fiscal deficit and the weakening dollar driving up inflation, the yield on 10-year U.S. Treasuries will find it difficult to fall below 4.25%.
"Old King of Bonds" Gross: The US stock market will welcome a "small bull market," while US bonds will face a "small bear market."
Gross stated that even if the U.S. Treasury market or economic growth shows weakness, the strong momentum driven by the era of artificial intelligence may still allow U.S. stocks to continue to rise slowly.
Whether to lower interest rates or not, the Federal Reserve is in an uproar! The "third-in-command" supports the "wait-and-see" faction: tariffs are expected to push up inflation.
In recent days, Federal Reserve officials have intensively expressed their views on interest rate prospects, making the huge differences within the central bank public.
