Last week, the Federal Reserve's hawkish rate cut led to noticeable declines across U.S. equity sectors, with the S&P 500 index falling 2%, closing at 5930.85 points. In the bond market, the 10-year U.S. Treasury yield climbed back to approximately 4.53%, reflecting a narrower rate-cut trajector...

上週受聯準會鷹派降息影響，美國各板塊股票皆明顯回落，標普500指數收跌2%於5930.85點。債市方面，美國10年期公債殖利率隨聯準會降息路徑收窄重返至4.53%左右，而美元指數也隨著公債殖利率的回升即將突破108大關。 上周...

The Federal Reserve announced a 25 basis point rate cut during its monetary policy meeting on December 18, bringing the target range to 4.25%-4.50%. Additionally, the Fed narrowed its projected rate cuts for 2025 to just 50 basis points. While these outcomes aligned with market expectations, the ...

美國聯準會（Fed）於 12月18日的貨幣政策會議中宣布降息 25個基點至4.25%-4.50%，並將2025年的降息路徑縮窄至50個基點。儘管這些結果符合市場預期，但聯準會從中性立場轉向偏鷹派的態度，導致美股三大指數以及美國公債重挫，�...

The Fed Continues to Reduce its Balance Sheet Since June 2022, the Fed has been reducing its balance sheet to limit liquidity in financial markets in response to elevated inflation. Initially, the Fed reduced its monthly reinvestments by $60 billion in U.S. Treasuries and $35 billion in mortgage...