【Japan's Interest Rate Hike: The 'Pump' of Global Liquidity Officially Starts】
Many people focus solely on the interest rate numbers, overlooking the deeper logic behind them. Japan's interest rate hike is not just a shift in monetary policy, but the end of the global 'cheap money era.' Three core logical points:
1️⃣ Reverse of carry trade: The yen has long been a global low-cost 'ATM.' Once interest rates rise, borrowing costs increase, and trillions in funds will flow back from high-yield assets to Japan.
2⃣ Forced liquidation pressure: An interest rate hike equates to a 'forced liquidation' of global risk assets. Overvalued tech stocks will be the first to feel the impact, followed by volatility transmitting to emerging markets.
3⃣ Liquidity withdrawal: This is not an instant collapse, but a continuous 'bleeding.' Cash value becomes prominent, and defensive assets (high dividends, stable bonds) will become a safe haven.
Impact path on the market:
Cryptocurrency ➔ US stocks ➔ Hong Kong stocks (most sensitive) ➔ A-shares (relatively insensitive).
Crypto strategies: Fund withdrawal, returning to Japan. Shrinking trading volume is the norm, and styles will skew heavily towards defense.