U.S. employment stabilizes, physical assets favored; U.S. real estate sales sluggish, interest rates high, and data from Japan, Germany, and the UK remain weak, reinforcing rate cuts --- 0224 Macro Summary

SnapshotLaborer · 2026-02-24T17:35:54+00:00

Although the U.S. labor market is stabilizing, job growth remains slow, and the risk of AI impact is increasing; the real estate market is experiencing sluggish sales, and mortgage rates are high; divergences in global central bank policies are increasing, and policy shifts are expected in the future. Rising inflation is affecting U.S. Treasury yields, while bond yields in other countries are generally declining.

SnapshotLaborer

2026-02-24 17:35:54

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The US labor market is stabilizing, but job growth remains narrow and the potential impact of AI keeps risks tilted to the downside. Physical asset investments are beginning to rebound, with gold and industrial metals leading performance over the past year. At the global central bank meetings, policy disagreements have increased, possibly signaling future policy shifts.
The US real estate market currently shows a pattern of sluggish sales and divergent inventories. Due to the high 10-year US Treasury yield and difficulty in compressing MBS spreads, the 30-year mortgage rate remains high. To gain support from middle- and low-income groups in the upcoming election, Trump is attempting to improve housing affordability through new real estate policies.
US inflation remains strong, and the Federal Reserve has signaled the first rate hike, pushing US Treasury yields higher; meanwhile, Japan’s GDP underperformed expectations, Germany’s PPI dropped significantly, and the UK’s unemployment rate rose, leading to declines in Japanese, German, and UK bond yields. The US dollar index rebounded, but rate-cut expectations remain the overall trend, and the dollar is expected to stay weak and volatile throughout the year.

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