Since August, signs in the US economy have prompted investors to reduce their expectations for next year's policy easing. This has brought US long-term treasury bond yields back to historic highs and increased global stock market volatility.

As of August 30, 2023:

This month, the US market experienced a “double kill on equity and debt.”The yield on 10-year US Treasury bonds, which is the “anchor of global asset pricing,” once returned to the high level before the financial crisis, while the NASDAQ, which is dominated by technology stocks, had the highest decline.

The overall performance of the Hong Kong stock market is weak.However, along with intensive domestic macroeconomic and other regulatory tools, optimism continues to heat up, and Hong Kong stocks have generally begun a rebound pattern in recent days.

Dang Chongyu, chief overseas strategy analyst at Guohai Securities, pointed out that recently, the Chinese government introduced a series of favorable policies, such as lowering the stamp duty on A-shares, controlling the pace of IPO listings, and regulating stock holdings reduction behavior. To a certain extent, these measures confirm that the Hong Kong stock policy base has been formed. However, the policy bottom does not necessarily mean the absolute bottom of the market. The current level of rebound may not be the strongest during the year, and there may be an opportunity for a major rebound or reversal in the fourth quarter of this year.

In terms of commodity markets,The sharp rise in natural gas is making a comeback,Since the beginning of August, the threat of a strike at an Australian LNG plant has made the global gas market uneasy. Market analysts believe that the soaring price of natural gas may also trigger a wave of short positions to be filled by investors who had previously bet on a further decline in natural gas.

Editor/Somer