20240711 night memo
BACKGROUND:
The biggest “surprise” in the June Consumer Price Index report was the rapid deceleration of housing cost inflation, falling from 0.40% to 0.17%. As a result, the market raised expectations for interest rate cuts, and there is a high possibility that the Federal Reserve (Fed) will cut interest rates in September.
Phenomenon: The dollar-yen exchange rate fell by about 4 ️ s* yen; US long-term and short-term government bonds rose, the US NASDAQ index plummeted by about 2%, and the Nikkei index plummeted by about 2% the next day. Do you know what the series of events are
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