每天晚上，坐在椅子上坐累了，就觉得真的过了一天。美丽属于自信的人，冷静属于有准备的人，奇迹属于坚持不懈的人，成功属于坚韧不拔的人。Every night, when I am tired of sitting in a chair, I feel that I have really had a day. Beauty belongs to confident people, calmness belongs to prepared people, miracles belong to persistent people, and success belongs to persevering people.
What If
While 2Y Treasury yields are back at 5%, Jay Powell cited 'there has been a lack of further progress this year on inflation,' indicating that the current level of the rate will be higher for longer as needed. This time, the Fed and ECB may not remain at the same pace, and if the Fed holds the rate until Y25, will there be new breaks for the economy?
Instead, I really like the discussion from a completely new perspective. Not to mention new breaks, let’s just look at the break that may have been caused - name one if there’s any. Economy, Labor Market, Corporate Earnings, Financial Markets, US Dollar, etc. So, to turn around, what if the rate hike actually sparks an economic boom? It’s off the textbook bcoz fundamentally we have a massive and growing budget deficit that strongly supports the resilient economy, enabling easier-than-ever financial conditions thus boosting markets.
We’ve mentioned the commercial property crisis and the aftermath of unsustainable debt growth. Almost certainly, there will be real risks if there are no rate cuts through the year and then have all delivered starting from 2025. At some point in 2H, we should still expect one or two cuts, as the Fed remains data-dependent.
While 2Y Treasury yields are back at 5%, Jay Powell cited 'there has been a lack of further progress this year on inflation,' indicating that the current level of the rate will be higher for longer as needed. This time, the Fed and ECB may not remain at the same pace, and if the Fed holds the rate until Y25, will there be new breaks for the economy?
Instead, I really like the discussion from a completely new perspective. Not to mention new breaks, let’s just look at the break that may have been caused - name one if there’s any. Economy, Labor Market, Corporate Earnings, Financial Markets, US Dollar, etc. So, to turn around, what if the rate hike actually sparks an economic boom? It’s off the textbook bcoz fundamentally we have a massive and growing budget deficit that strongly supports the resilient economy, enabling easier-than-ever financial conditions thus boosting markets.
We’ve mentioned the commercial property crisis and the aftermath of unsustainable debt growth. Almost certainly, there will be real risks if there are no rate cuts through the year and then have all delivered starting from 2025. At some point in 2H, we should still expect one or two cuts, as the Fed remains data-dependent.
徐州狮子山楚王墓出土玉器（西汉）
徐州博物馆藏。
1.出廓龙形玉佩
Dragon-shaped Jade Pendant
2-3.S形玉龙佩
Jade Pendant in the Shape of a Dragon
4-5.龙凤纹玉珩Jade Heng (arc-shaped pendant)with Dragon and Phoenix Design
6.玉冲牙
Jade Chongya (A component of combined pendants)
7.双龙纹玉佩
Jade Pendant with Double Dragon Design
8.镂雕玉饰
Hollow-carving Jade Accessory
9.蝉形玉佩
Cicada-shaped Jade Pendant
10.双联玉舞人
Double Jade Dancing Figures
11.谷纹白玉珩
White-jade Heng with Grain Design
12.蒲纹玉珩
Jado Hong with Mat Dosign
13.谷纹白玉珩
White-jade Heng with Grain Design
14.蒲纹白玉珩
White-jade Heng with Mat Design
15.双龙珩形玉佩
Heng-shaped Jade Pendant with Double Dragon Design
16.玉瑗
Jade Yuan
17.凤鸟形玉饰件
Phoenix-shaped Jade Accessory
18.玉饰件
Jade Ornament
狮子山楚王陵位于江苏省徐州市云龙区兵马俑路，是西汉早期分封在彭城的某位楚王的陵墓。经徐州考古专家考证，其墓主为第二代楚王刘郢客或第三代楚王刘戊。
#古玉##徐州博物馆##狮子山楚王墓#
徐州博物馆藏。
1.出廓龙形玉佩
Dragon-shaped Jade Pendant
2-3.S形玉龙佩
Jade Pendant in the Shape of a Dragon
4-5.龙凤纹玉珩Jade Heng (arc-shaped pendant)with Dragon and Phoenix Design
6.玉冲牙
Jade Chongya (A component of combined pendants)
7.双龙纹玉佩
Jade Pendant with Double Dragon Design
8.镂雕玉饰
Hollow-carving Jade Accessory
9.蝉形玉佩
Cicada-shaped Jade Pendant
10.双联玉舞人
Double Jade Dancing Figures
11.谷纹白玉珩
White-jade Heng with Grain Design
12.蒲纹玉珩
Jado Hong with Mat Dosign
13.谷纹白玉珩
White-jade Heng with Grain Design
14.蒲纹白玉珩
White-jade Heng with Mat Design
15.双龙珩形玉佩
Heng-shaped Jade Pendant with Double Dragon Design
16.玉瑗
Jade Yuan
17.凤鸟形玉饰件
Phoenix-shaped Jade Accessory
18.玉饰件
Jade Ornament
狮子山楚王陵位于江苏省徐州市云龙区兵马俑路，是西汉早期分封在彭城的某位楚王的陵墓。经徐州考古专家考证，其墓主为第二代楚王刘郢客或第三代楚王刘戊。
#古玉##徐州博物馆##狮子山楚王墓#
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