BlockBeats news, on July 24, the market is currently facing triple pressures at the macro level: Brent crude oil futures touched $100 tonight, the U.S. 10-year Treasury yield broke through 4.7%, and the U.S. Dollar Index rose again above 101. Rising oil prices have increased inflation expectations; higher Treasury yields have depressed stock valuations; and a stronger dollar has tightened global liquidity.
Meanwhile, market pricing for a potential rate hike by the Fed at next week’s meeting has risen again. According to CME’s “FedWatch” data, the probability of a 25-basis-point rate hike in July is 37.9%, while the probability of holding rates steady is 62.1%, with no possibility of a rate cut.
The Federal Reserve will announce its interest rate decision at 02:00 Beijing time on Thursday, July 30 next week.