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Macro Expert Tom Lee | What's Next For Markets?
Bankless
Market Tensions Unraveled by Economic Indicators
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Recent economic reports have sparked uncertainties in the market. A disappointing jobs report indicated only 114,000 new positions added in July, raising fears of an impending recession as unemployment ticked up by 50.5 basis points. Coupled with the Federal Reserve's decision against rate cuts, investor panic ensued. Additionally, the Bank of Japan's hike in overnight rates triggered a shift in carry trades, impacting currency dynamics and overall market stability. The interplay of these factors led to significant market de-leveraging, although the exact causes remain elusive.
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