Nomura: La reunión de política monetaria de la Reserva Federal en junio podría marcar un punto de inflexión clave en el fin del ciclo de crédito y la prosperidad de la IA

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Golden Finance report, June 22, Nomura Securities believes that the Federal Reserve's June policy meeting may not be an ordinary hold steady meeting; if looking back after 10 years, this could be seen as a key turning point marking the end of the credit cycle and AI boom. Nomura's chief macro strategist Naka Matsuzawa pointed out in the latest report that the market has overestimated the urgency of the Fed raising interest rates immediately within this year, while severely underestimating the depth and persistence of the long-term rate hike path, showing a lack of caution towards true medium- and long-term risks.
The bank expects that the Fed is very likely to hold steady throughout 2026; once Wosh's policy stance gradually becomes clear, coupled with inflation expectations confirmed during the oil price decline, the current market pricing of about 1.5 rate hikes is expected to be quickly corrected. But Matsuzawa also emphasized that the real risk does not lie in whether there will be one or two rate hikes this year, but in how likely these so-called preventive steps are to eventually evolve into a complete and sustained period of substantial tightening.
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