📉 Woshe announced his appointment yesterday, and the probability of a June rate hike jumped directly from 70% to over 90%—

This is in sharp contrast to the multiple rate-cut expectations earlier in the year. The market is clearly pessimistic, and here comes another wave of declines!
It’s already meaningless to try to judge whether Woshe is hawkish or dovish now—so let’s look back at “Mr. Powell”:
In 2020, Powell, with zero interest rates and unlimited QE, was dubbed by the market as “the most dovish in history”;
In 2022, Powell, with aggressive rate hikes and the line that “families and businesses have to endure pain,” was also dubbed by the market as “Volcker 2.0.”
The same person—over three years—has cut from the “dove king” to the “hawk king,” and all of it is dynamic development.
From Trump’s selection logic, he definitely wouldn’t pick a hardline hawk,
So I have no idea about the current market direction—I’m planning to lie low and just get through this month!