The expectation of interest rate cut is finally settled, and the valuation repair market begins

1. The global risk asset market rose across the board, and the market's expectations for a possible slowdown in inflation increased, providing the Federal Reserve with room to cut interest rates, and the market entered a valuation repair/oversold rebound.
2. The U.S. Treasury Department raised its expected borrowing scale for this quarter, and the future issuance of treasury bonds will increase, which may draw market liquidity and raise the risk of treasury bond interest rates.
3. The dovish signals from the FOMC and Powell, Apple and Amazon's 100 billion repurchase + strong financial reports, and Hamas and Israel's peace talks under the mediation of major powers have reassured the market.
4. The U.S. non-farm payrolls report for April grew less than expected, the unemployment rate rose slightly to 3.9%, and the average hourly wage growth was lower than expected, indicating that the tight labor market may be easing.
5. Gaza's efforts to reach a ceasefire agreement and release hostages have made slight progress, the yen fluctuated sharply, and the Bank of Japan may intervene. Apple announced its second-quarter results that exceeded expectations and announced a $110 billion repurchase plan. Tesla closed down 3.7% last week. Coinbase's first-quarter results exceeded expectations, and the Bitcoin computing power in the crypto market remained high.