The most important macro event of this year is just around the corner, the Federal Reserve FOMC meeting (December 9-10). Although the outcome is already known, the real market game is just beginning.
The market currently widely expects a 25bp cut, but in fact, this outcome itself is already difficult to price into the market. How this interest rate meeting determines the trends of risk assets will definitely depend on the degree of internal disagreement and the expectations for next year’s direction.
This internal disagreement may be more intense than expected; the opposition's forced compromise does not equate to a consistent rate cut, at least in my view, there will definitely be a considerable number of votes against the rate cut, which affects market sentiment. Cryptocurrency relies on emotional liquidity, and a disunited rate cut.
