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Serenity Blasts US Banks: Incorrect Predictions Trigger Retail Panic, Similar to a "Contrarian Indicator"

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ME News message: On June 23 (UTC+8), Serenity posted on the X platform criticizing certain market views from American banks, saying their behavior is similar to a “malicious version of Bernstein/Jim Cramer,” which may mislead retail investors. It is reported that Bank of America said the Korea Composite Index (KOSPI) and Korean ETFs (EWY) are in an “extreme bubble” state, and likened them to the silver crash in March, leading some retail investors to sell their positions. However, afterward, the Korean stock index continued to rise, nearly doubling and hitting a record high. Serenity added that Bank of America has also recently put forward the view that “there will be three rate cuts in 2026,” which shows a clear discrepancy with how the derivatives market is pricing this outlook. At present, the market estimates the probability of this scenario to be close to 0%, and such predictions could trigger panic among retail investors, while also contradicting the stance of the Trump administration’s prior push for rate cuts. As a large American bank, issuing such “garbage forecasts” and spreading them to retail investors is a harmful act. (Source: ODAILY)
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