Odaily星球日报讯 TwentyFour Asset Management 投资组合经理 Felipe Villarroel 表示，由于美联储主席鲍威尔今日在备受期待的杰克逊霍尔演讲中可能“语气平静”，美国国债收益率可能小幅上升。美国劳动力市场降温引发了对激进降息的押注，鲍威尔可能会反驳这一点。 Villarroel 表示：“市场预计今年将降息 100 个基点，考虑到目前的数据，这似乎有点过头了。”他预计 9 月降息幅度为 50 个基点，而不是 25 个基点。“经济和劳动力市场正在减速，但仍处于良好状态。”（金十）

Odaily星球日报讯 TwentyFour Asset Management 投资组合经理 Felipe Villarroel 表示，由于美联储主席鲍威尔今日在备受期待的杰克逊霍尔演讲中可能“语气平静”，美国国债收益率可能小幅上升。美国劳动力市场降温引发了对激进降息的押注，鲍威尔可能会反驳这一点。Villarroel 表示：“市场预计今年将降息 100 个基点，考虑到目前的数据，这似乎有点过头了。”他预计 9 月降息幅度为 50 个基点，而不是 25 个基点。“经济和劳动力市场正在减速，但仍处于良好状态。”（金十）

鲍威尔有望平息市场，支撑美债收益率

Odaily Planet Daily Report: Felipe Villarroel, portfolio manager at TwentyFour Asset Management, stated that due to the possibility of Federal Reserve Chairman Powell speaking in a "calm tone" in his highly anticipated Jackson Hole speech today, US Treasury yields may rise slightly. The cooling of the US labor market has led to bets on aggressive rate cuts, and Powell may refute this. Villarroel said: "The market expects a 100 basis point rate cut this year, but considering the current data, this seems a bit excessive." He expects a 50 basis point rate cut in September, rather than 25 basis points. "The economy and the labor market are slowing down, but they are still in good shape."

Odaily Odaily News: Felipe Villarroel, portfolio manager at TwentyFour Asset Management, said that U.S. Treasury yields may rise slightly as Federal Reserve Chairman Powell may &quot;speak a calm tone&quot; in his much-anticipated Jackson Hole speech today. The cooling of the U.S. labor market has triggered bets on aggressive rate cuts, which Powell may refute. &quot;The market expects a 100 basis point rate cut this year, which seems a bit excessive given the current data,&quot; Villarroel said. He expects a 50 basis point rate cut in September instead of a 25 basis point cut. &quot;The economy and the labor market are slowing, but they are still in good shape.&quot; (Jinshi)

Powell is expected to calm the market and support US Treasury yields

Odaily reported that the Singapore-based cryptocurrency investment firm QCP Capital stated that the downward revision of the US non-farm payroll numbers overnight highlighted the weakness in the labor market, raising concerns about the Federal Reserve potentially delaying rate cuts, which triggered a sell-off. However, the minutes of the July Federal Open Market Committee (FOMC) meeting showed that some policymakers were willing to cut rates, signaling a more dovish stance aimed at balancing inflation and employment goals, which helped alleviate these concerns. This dovish tone boosted risk assets, pushing the Bitcoin price above $61,800, with strong buying pressure on Coinbase lasting until 4 am Singapore time. The aggressive buy orders on Coinbase (indicating domestic US demand) are a positive sign for the short-term trend. Now, the market's focus is on Federal Reserve Chair Powell's speech in Jackson Hole tomorrow, hoping to get more signals about rate cuts. Given the market's widespread expectations of rate cuts, unexpected economic data could have a significant impact on the market.

QCP Capital: The dovish tone in the Fed minutes boosted risk assets, and Powell's speech on Friday will be the next focus

The Odaily Planet Daily reported that the euro has risen to its highest level in a year, and ahead of the Jackson Hole annual meeting, traders' bullish sentiment on the euro has reached its highest level since the end of 2020. The euro briefly rose to 1.1143 on Wednesday, the highest level since July 2023. The market expects that Federal Reserve Chairman Powell will support their bets on rate cuts on Friday, and the Fed is expected to cut rates faster than the European Central Bank in the coming months.

Traders bet Fed will cut rates faster than ECB

Odaily reported that Fed's Harker stated that the end of balance sheet reduction depends on the market, and the end of the easing cycle may keep the federal funds rate at around 3% level. (Jinshi)