#5月非农数据即将公布 Last year's macroeconomic data was not very important, but this year's is very important. Because market participants are looking forward to a rate cut, they always have to give the Fed a way out. Is it inflation or economic data deterioration? The quality of non-farm payrolls is the core indicator of the Fed's reference to employment conditions.

If non-farm payrolls begin to deteriorate, then a rate cut is just around the corner, which is good news in the short term. But this also means that an economic recession may begin to appear, which may not be a good thing for the market from the perspective of half a year.