"Rate Cut Trade" vs. "Trump Trade": Which Directions are Consensus?

Huatai Securities believes that when both "Trump trades" and "rate cut trades" are strong, "weak resonance" benefits large-cap US tech stocks, Japanese stocks, and steel assets. If "strong resonance" occurs, assets like Bitcoin and gold may be favored, and the US Treasury yield curve could steepen.

On Tuesday, the dual boost from "rate cut trades" and "Trump trades" sent gold prices to a record high.