Fed換新局！縮表衝擊比降息更大 美債殖利率破5％台股估值怎麼辦？｜主持人陳碧芬 ft.美國東北大學財務金融系教授 邱萬鈞【#市場觀測站Podcast EP173】CC字幕 @cteevideo​

The Xi-Trump meeting and the appointment of the new Fed chairman in the same week, seemingly two separate news items, both point to the same core risk: the global monetary order is being rewritten. While the market is generally focused on whether the Federal Reserve will cut interest rates, Chiu Wan-Chun, a professor of finance at Northeastern University, points out that reducing the Fed's massive balance sheet is the real market focus since this atypical central banker took office. The 30-year US Treasury yield has broken through 5%, effectively raising the risk-free interest rate benchmark for global assets. Technology stocks and emerging markets, which previously enjoyed high valuations in a low-interest-rate environment, are now facing valuation correction pressure. Chiu Wan-Chun specifically points out Taiwan: the dollar position will inevitably be repriced, and the Taiwanese stock market, highly correlated with global assets, cannot remain unaffected by this volatility. When monetary tightening and political pressure threaten the Fed's independence, which indicator should investors look at? With interest rate cut expectations failing to materialize, what's the next move? 🎙️Host: Chen Bi-fen, Deputy Director of the Editorial Department and Head of the Industry and Economy Research Group, Commercial Times 🎙️Guest: Qiu Wan-jun, Professor of Finance, Northeastern University 📣20th Annual Financial and Economic Policy Seminar📣 ●Organized by the Asia-Pacific Financial Development Foundation● Date: 2026/05/23 (Saturday) Location: B1, Building 1, College of Management, National Taiwan University Registration Website: https://reurl.cc/pp4a7r ⚡️Highlights of this episode: 00:00 Program begins: The impact of Wash's balance sheet reduction policy on financial conditions 01:14 Two major international events: Xi-Trump meeting, technology war, and the inauguration of the new Fed chairman 03:28 Unveiling the new Fed leader, Wash! The glamorous background of an atypical central bank governor 07:23 Wash's bombshell: Redefining inflation, abolishing the dot plot? 09:47 Why did Powell refuse to resign? Acting as a "Defense Lawyer" for the Fed System 13:49 Fed Internal Division Crisis! Regional Presidents vs. Trump's Team: A Hawkish-Dove Battle 17:21 US Inflation Fails to Cool Down! US-Iran Conflict Triggers 60% Surge in Oil Prices 21:19 Warren Buffett's "Balance Sheet Reduction" Killer Move! Could Draining Liquidity Trigger Overnight Interbank Lending Tighten? 24:54 Taiwan's Life Insurance Industry Sounds the Alarm! $200 billion in overseas holdings face severe challenges 🎧Other podcast listening platforms: Apple Podcast: https://lihi3.cc/46hrS Spotify: https://lihi3.cc/sIRBX KKBOX: https://lihi3.cc/dJqYy SoundOn: https://lihi3.cc/DoyQH 👉Related reading: Fed appoints new CEO, Watsch takes office; balance sheet reduction strategy established; US Treasury yields break 5%; Taiwan stock valuations face stress test https://www.ctee.com.tw/news/20260515... Watsch's first interest rate dot plot: Submit or avoid? https://www.ctee.com.tw/news/20260514... US Inflation Surges, PPI Hits Over Three-Year High https://www.ctee.com.tw/news/20260514... US Inflation Heats Up Again! Bond Market Storm Imminent? Bond Veteran Warns "10-Year US Treasuries May Break 5%" https://www.ctee.com.tw/news/20260513... US Treasury Yields Break 5%! Oil Prices and Inflation Double Blow: Financial Storm Imminent? "The Gate of Volatility" Leads to the Beginning of a Collapse https://www.ctee.com.tw/news/20260506... #NewFedChairman #Washington #USTreasuryYields #Balance SheetReduction #TaiwanStockValuation #XiTrumpMeeting #FedIndependence #ImportedInflation #DollarRepricing =========================== Seize the opportunity and achieve investment success! Subscribe to this channel: https://pse.is/4uhbph Commercial Times, your first choice for investment and wealth management: https://www.ctee.com.tw/ Follow Commercial Times on Facebook:   / ctee.fans   Join Commercial Times on LINE: https://line.me/ti/p/@ccf6523h