"MSX Research Institute·US Stock RWA Daily Observation" is a flagship daily report produced by the leading RWA trading platform MSX. Leveraging our strong macro research capabilities, we capture the core pulse of global traditional US stocks, liquidity changes, and the RWA tokenized market to help you strategically position quality assets.
Today's Observation:
Newly appointed Federal Reserve Chair Waller attended congressional hearings for two consecutive days. Despite a surprising sharp drop in the June CPI earlier that morning, he firmly adopted a hawkish stance, emphasizing "zero tolerance" for inflation, downplaying single-month data, and abandoning forward guidance. With oil prices returning above 80 dollars, the market quickly retracted its previously elevated expectations for interest rate cuts.
Data in One Minute:
• June CPI year-on-year dropped to 3.5% (previously 4.2%), core at 2.6%, both below expectations but still above the 2% target
• Waller's five key topics: inflation, hawkish monetary policy, neutrality on independence and reform, only dovish on AI
• 7/28–29 FOMC: Market bets on "holding steady," with rate hike focus shifting to September (about 60% probability)
• Implied probability of "zero rate cuts" by 2026 is about 80%
MSX View:
We believe that a slightly weak CPI combined with a hawkish new chair leads to the outcome of "cooling does not equal rate cuts." Waller prefers to see inflation truly return to target rather than shifting due to a couple of good months of data, further reinforcing the "higher for longer" tone. For US stocks, this may short-term suppress high-valuation growth stocks, but if earnings are strong enough, they can still withstand it. The real watershed moment will be the core PCE on 7/30 and the subsequent major corporation earnings reports: the "second episode" of policy must be written by the data.
About MSX
MSX is a leading RWA trading platform dedicated to providing secure, efficient, and transparent access to global financial markets. As one of the earliest on-chain US stock trading platforms in the world, MSX has always been at the forefront of the industry, leading market transformation with continuous innovation.
The platform deeply integrates blockchain technology with a compliance framework, fully offering spot and derivative trading of nearly 400 tokenized stocks and Pre-IPO assets, perfectly bridging the gap between traditional finance and the digital asset industry.
Centered around the core mission of "allowing quality assets to flow freely," MSX has currently built a diversified digital financial service system covering spot and perpetual contracts in US stocks, cryptocurrency trading, Pre-IPO, and the MSX Research Institute, aiming to provide global investors with high-performance access to quality asset participation at all times.
Official Website: https://msx.com/
Now available in global App Store / Google Play.
Risk Warning: Macroeconomic and US stock market fluctuations are intense. The contents of this article are for academic and research reference of the MSX Research Institute only and do not constitute any investment advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
