#美联储利率政策预期 Looking back at history, the Federal Reserve's interest rate policies have always been a nerve-wracking factor for global financial markets. This time, the Bank of Japan's hint at possible rate hikes has brought new uncertainty to the US markets. Remember back in 2008 after the financial crisis, central banks around the world cut interest rates; who would have thought that Japan would be the first to signal a rate increase?

Currently, the yield on Japan's 10-year government bonds has risen to a near 15-year high, and US Treasury yields have also increased accordingly. This reminds me of the aggressive rate hikes by the Federal Reserve in the 1980s, which also triggered turbulence in global financial markets.

Today, as Japan is the largest foreign holder of US debt, its policy changes will undoubtedly have a profound impact on the US market. Capital flowing back to Japan from US bonds could disrupt the Fed's rate cut plans and subsequently affect the stock and real estate markets.

All of this serves as a reminder that the interconnectedness of global financial markets is tighter than ever before. Investors need to constantly monitor the policy movements of central banks around the world, because a decision by one country can trigger a chain reaction globally.

Looking back at past cycles, we can always find similar patterns. But each situation is different. In the current environment, cautious observation and flexible responses are the wise choices. After all, history always repeats itself in new ways.