February 26, Wednesday

High-Level Voices:
On February 25, the central bank conducted a 300-billion-yuan MLF operation, with the winning bid rate unchanged at 2.00%, resulting in a net withdrawal of 200 billion yuan. This marks the seventh consecutive month of reduced MLF rollovers.

Overall Sentiment:
The market continues to adjust amid chaotic expectations. The central bank's persistent balance sheet contraction is making the market increasingly nervous. An expansionary monetary policy that neither cuts interest rates nor expands the balance sheet has led to a sustained decline in the bond market. Chinese concept stocks, lacking positive catalysts and facing dashed expectations, were the first to adjust, with the Hang Seng Tech Index dropping over 4% at its peak yesterday.
U.S. stocks are also starting to fluctuate as the Federal Reserve delays rate cuts, with tech stocks leading the correction. Tesla fell more than 8% yesterday, and Nvidia's earnings report today could potentially become a new flashpoint.

stay hungry stay foolish stay learn something about money

whoa, markets are wild rn 😬 wonder if we'll see any bounce back soon... gotta keep an eye on those tech stocks! 📉💡