It can't be hidden anymore! U.S. Treasury and stock markets suffer double blows, data fabrication confirmed, and the RMB surges past 6.8
U.S. heavyweight data is alleged to be fabricated, with the offshore RMB breaking through 6.8 in one go, hitting a two-year high!
The U.S. non-farm payroll data for January was released, showing an increase of 130,000 people, far exceeding expectations, but the previous value was significantly revised down, which the market pointed to as a deliberate lowering of the baseline and data inflation. Coupled with inflation data exceeding expectations, it directly triggered panic in the market: U.S. stocks opened high and then plummeted, with the Nasdaq leading the decline; U.S. Treasury prices continued to fall, and the ten-year yield rose, leading to a collective sell-off of dollar assets.
More astonishingly, Trump's outrageous statement: claiming that the economic data is too good, the Federal Reserve should immediately cut interest rates to save the Treasury nearly a trillion in interest costs, completely ignoring economic logic. He intended to use strong data to create momentum for the issuance of hundreds of billions in U.S. debt, but the result was counterproductive—the market's interest rate cut expectations cooled significantly, the probability of a rate cut in June was halved, and the trend of de-dollarization accelerated completely.
On one side, U.S. dollar credit is frequently questioned, while on the other side, RMB assets are highly sought after. The offshore RMB strongly breaking through 6.8 is a trust vote cast by global capital with real money. U.S. data inflation and conflicting policies are driving global funds to accelerate their shift towards more stable RMB assets.
This transition between the U.S. dollar and RMB has reached a climax; do you think the Federal Reserve will compromise and cut interest rates? Will the RMB continue to strengthen?
#U.S. retail data falls short of expectations