Spain's Composite PMI for September

This week, the financial markets have adjusted, with a divergence in the performance of crypto assets and commodity markets. Inflation data has cooled, but risks have intensified. The Fed's policies, retail data, and trends in the credit market will impact future directions. Investors need to remain cautious and follow opportunities.

This week the market experienced a pullback, with US stocks and Crypto Assets showing weak performance, reflecting the game of interest rate cut expectations and economic slowdown. Liquidity has stabilized, but credit market risks have increased, suggesting investors follow defensive assets and high-quality bonds. Next week's focus is on the FOMC meeting, with the market paying attention to interest rate cut expectations and Powell's attitude.

This week, the market experienced multiple expectation games, with a significant pullback in U.S. stocks. Investors shifted their preference towards defensive assets, and gold reached a historic high. The decline in inflation data has strengthened expectations for interest rate cuts, but market sentiment remains unstable. Next week, attention should be paid to the FOMC meeting, and investors need to cautiously seize opportunities in quality assets.

Macro Weekly Report: Market Adjustment Continues, Credit Risk Needs Attention 1. Macro Review of the Week 1. Market sentiment is cautious, and defensive assets are favored. This week, the three major U.S. stock indices generally retreated, with the Dow Jones Industrial Average falling by 3.1%, the Nasdaq down 2.6%, and the Russell 2000 down 1.8%. The utilities sector rose against the trend by 1.4%, becoming the only industry to gain, reflecting a shift of funds towards defensive assets. The VIX volatility index remained above 20, indicating that the market is in a cautious adjustment phase. 2. The commodity market is diversifying, and risk aversion sentiment is rising. Gold has broken through $3,000 per ounce, setting a new historical high, reflecting an increase in safe-haven demand. Copper prices have risen by 3.9%, indicating that there is still some demand support from the manufacturing sector. Crude oil prices remain stable around $67, but net futures positions have decreased by more than 9.6%, suggesting a weak market expectation for global demand growth. Natural gas prices

This week the market performance adjusted, affected by the Fed's interest rate cut expectations and the economic growth slowdown, the stock market generally fell, while defensive assets rose. Inflation data cooled down, and liquidity remained stable. Next week, pay attention to the FOMC meeting and retail sales data, investment strategy recommends increasing holdings in defensive zones. Market sentiment is cautious, and potential opportunities need to be grasped.