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Huatai Securities maintains view on long-term USD depreciation pressure
Summary: According to Jin10, Huatai Securities research report pointed out that it is expected that tariffs in the third quarter will moderately push up core inflation in the United States, with market disagreements on the extent and duration of inflation. The Fed is highly likely to restart the rate cut cycle in September, although inflation is ...
According to Jin10, Huatai Securities research report pointed out that it is expected that tariffs in the third quarter will moderately push up core inflation in the United States, with market disagreements on the extent and duration of inflation. The Fed is highly likely to restart the rate cut cycle in September, although inflation is expected to rise in the third quarter, the constraints on the Fed's rate cuts in 2025 are limited. In the short term, the impact of inflation rebound on US bond yields is limited, but there is still pressure on US bond yields after the implementation of the 'big and beautiful' bill. Huatai Securities maintains the view that the USD faces depreciation pressure in the medium to long term.
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