Matthew Pallai, chief investment officer at Nomura Capital Management, said in a note that the Federal Reserve has become more dovish amid a worsening job market, but remains highly sensitive to inflation fluctuations. He is concerned about how persistent price pressures from tariffs and immigration policies can complicate the disinflationary trend. If inflation unexpectedly rises, overvaluation of equities and corporate credit could exacerbate volatility. (Golden Ten)
野村资本管理首席投资长Matthew Pallai在一份报告中表示,美联储在就业市场恶化的情况下变得更加温和,但对通胀波动仍高度敏感。他关注关税和移民政策带来的持续价格压力如何使反通胀趋势复杂化。如果通胀意外上升,股票和企业信贷估值过高可能会加剧波动性。(金十)