- Monetary Policy: Fed rate cut expectations build as Treasury operations target 150-175 bps reduction
- Inflation: July CPI slowdown restores confidence; PPI data crucial for tariff impact assessment
- Global Developments: Chinese tariff pause provides market support
- Valuations: Nasdaq bubble concerns intensify as market cap exceeds US GDP
- Central Bank Divergence: BoJ hiking while Fed cutting creates FX volatility
- Risk Assets: Crypto and equities benefit from improved macro backdrop