In just one weekend, the risk appetite of the entire market has undergone a significant change. The US stock index futures opened lower in the morning, as it seems the market is preparing for the next short-term narrative!

It was mentioned before that after a big rise, there are no positive factors, and after a big fall, there are no negative factors.

Essentially, it is still discussing the leading impact of narratives on market prices. Many times, prices do not rise because positive news appears, but because prices have already risen in anticipation of positive news under the influence of information asymmetry.

However, when the good news is actually announced, the price has already completed this round of repricing, which gives people the illusion of "no rise despite good news";

It's still the same saying, the price reflects the current expectations, not the facts.

#GORK 热度飙升