Isn't there a question that has been overlooked? There will be an interest rate hike every 6 months from now on, and there aren't any good news either. It's almost the end of the year, and every year-end is a decline.

Today we continue from yesterday. Yesterday we mentioned that the US stock market might not have too many positive factors going forward, interest rates have been cut, and the Federal Reserve's monthly purchase of 40 billion in reserves is not to stimulate the economy but to stabilize the currency market. However, the Treasury's TGA account funds are indeed flowing into the market. In summary, there are pros and cons.

1. First, don't panic.
Next, let's talk about Japan's interest rate hike activity on the 19th. Many people are panicking, saying that arbitrage funds will withdraw, and a global financial crisis is coming, etc.

Then yesterday I saw a piece of news saying that the Bank of Japan is going to sell 82 trillion yen worth of ETFs, which will continue to be sold for 112 years, equivalent to selling 730 billion yen per year, which translates to 5.2 billion USD, but this is not a short-term concentrated sale.