SignalPlus Macro Analysis: BTC ETF Continual Outflows, Market Pinning Hopes on May FOMC Meeting and CPI Data

1. Core PCE data largely met analysts' elevated expectations, bringing hawkish pressure to the FOMC meeting.
2. U.S. bond yields fell by around 3 basis points, with the Nasdaq index rising 2% due to the yield trend and tech stock earnings.
3. The yen exchange rate surpassed 159, nearing a 25-year high of 160, as the market focuses on the Bank of Japan's dovish stance.
4. U.S. corporate earnings were robust, with a 3.3% upward revision in first-quarter 2024 earnings, prompting some companies to resume dividend payouts.
5. The cryptocurrency market did not show significant buying interest, with mainstream FOMO sentiment slowing down and maintaining a cautious outlook on price trends.