On Monday, US market fell - th-To The Moon - Tiger Brokers Online Investing Community

On Monday, US market fell - thanks to tension arising from the Middle East again.

As we look forward into Tuesday pre-market futures indexes - sentiments seemed to be positive-muted. Will this persists until 4pm ? It's anybody's guess.

For me, I will take a breather and just observe instead of jumping in and catch falling knives in the process.

The Middle East tension may flare (again) as US mid-term election draws closer... Agree ?

@JC888：Rising US Fed Rates Crash Stock Market ?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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As we look forward into Tuesday pre-market futures indexes - sentiments seemed to be positive-muted. Will this persists until 4pm ? It's anybody's guess. For me, I will take a breather and just observe instead of jumping in and catch falling knives in the process. The Middle East tension may flare (again) as US mid-term election draws closer... Agree ?","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/602962702643856","repostId":602948393369864,"repostType":1,"repost":{"magic":2,"id":602948393369864,"tweetId":"602948393369864","gmtCreate":1788233794662,"gmtModify":1788234545376,"author":{"id":3570103090255456,"idStr":"3570103090255456","authorId":3570103090255456,"authorIdStr":"3570103090255456","name":"JC888","avatar":"https://community-static.tradeup.com/news/1f15eae4f682dc4cb91bfca455452752","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":1,"currentWearingBadge":{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Published at least 3 PICK posts (or 10 IDEA posts) and, within the past 30 days, posted at least 1 PICK post (or 4 IDEA posts) and 1 comment","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.08.31","individualDisplayEnabled":1,"backgroundColor":{"dark":"#675a37","tint":"#f9ebc2"},"fontColor":{"dark":"#ffffff","tint":"#ab7a0e"}},"individualDisplayBadges":[{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Published at least 3 PICK posts (or 10 IDEA posts) and, within the past 30 days, posted at least 1 PICK post (or 4 IDEA posts) and 1 comment","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.09.01","individualDisplayEnabled":1,"backgroundColor":{"dark":"#675a37","tint":"#f9ebc2"},"fontColor":{"dark":"#ffffff","tint":"#ab7a0e"}}],"wearingBadges":[{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","name":"Star Contributor","description":"Published at least 3 PICK posts (or 10 IDEA posts) and, within the past 30 days, posted at least 1 PICK post (or 4 IDEA posts) and 1 comment","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","isScarce":0,"effectEnabled":0,"redirectLinkEnabled":1,"redirectLinkType":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","redirectLinkValidityFrom":1679961600000,"redirectLinkValidityTo":1996963200000,"validityToTimestamp":1790828401829}],"fanSize":9982,"starInvestorFlag":false},"themes":[{"themeId":"21b77238479740f99cdaa393def5ea54","categoryId":"7a15628ce2174325bddc6229505e0d70","name":"Dow Logs Its Fifth Straight Monthly Gain — Can It Hold Through September?","type":0,"rnLink":"https://laohu8.com/RN?name=RNTheme&page=/theme/detail&rndata={\"themeId\":21b77238479740f99cdaa393def5ea54}&rnconfig={\"headerBarHidden\": true}","description":"August closed conflicted: the Dow logged a fifth straight monthly gain but fell as much as 360 points intraday, the S&P 500 lost 0.58%, and QQQ added 0.05%. After U.S. military action against Iran, Brent hit $91.28, up ~9% on the month, and rate-hike bets rose with it — higher oil feeds inflation expectations and reinforces Warsh's hawkish turn, hitting long-duration growth first. Payrolls land this week, into the S&P's statistically worst month. Trim into cash-generative mega-caps, or hedge with energy?","image":"https://community-static.tradeup.com/news/5bbdce0c3859b57aa6bde24d88d8f427"}],"images":[{"img":"https://community-static.tradeup.com/news/49eb211409ffb23958cd52521a826610","width":"1332","height":"812"},{"img":"https://community-static.tradeup.com/news/7c48278b2746fb5a37bd531cf9dc1523","width":"1877","height":"487"},{"img":"https://community-static.tradeup.com/news/4bcd071d12ed68b138f50e4f1b7ad6b5","width":"701","height":"203"},{"img":"https://community-static.tradeup.com/news/196ff7d932b376d8faaeb95007d66a8a","width":"872","height":"621"},{"img":"https://community-static.tradeup.com/news/3bf0a5da83b55ca9a1be65327ce6a880","width":"1808","height":"806"},{"img":"https://community-static.tradeup.com/news/13d59702af53d987bde301c7c001895e","width":"1093","height":"340"},{"img":"https://community-static.tradeup.com/news/08f8808af110cf1579e96f7eccdd394f","width":"4000","height":"2316"},{"img":"https://community-static.tradeup.com/news/75af89347e61704514895631f1522819","width":"829","height":"153"},{"img":"https://community-static.tradeup.com/news/095c0fc84cd845b68453a9281e871ed2","width":"1152","height":"158"},{"img":"https://community-static.tradeup.com/news/7dbe0aae1d9996f3e3bb681adf39ede5","width":"619","height":"133"},{"img":"https://community-static.tradeup.com/news/b47a1c169243df39dbb4891f1a51c52d","width":"927","height":"165"},{"img":"https://community-static.tradeup.com/news/4bb688e4c42664f5cce4d7f7e7d5a5db","width":"1142","height":"128"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/49eb211409ffb23958cd52521a826610","width":"1332","height":"812"},{"img":"https://community-static.tradeup.com/news/7c48278b2746fb5a37bd531cf9dc1523","width":"1877","height":"487"},{"img":"https://community-static.tradeup.com/news/4bcd071d12ed68b138f50e4f1b7ad6b5","width":"701","height":"203"}],"title":"Rising US Fed Rates Crash Stock Market ?","html":"<html><head></head><body><img src=\"https://community-static.tradeup.com/news/49eb211409ffb23958cd52521a826610\" tg-width=\"1332\" tg-height=\"812\">\n<h2>Fed Chair - Kevin Warsh.</h2>\nOn Fri, 28 Aug 2026 at the US central bank‘s annual economic policy symposium at Jackson Hole, Wyoming, new Fed chair Kevin Warsh spoke on his 100th day as Chairman.\nThis was a much-awaited speech as the new Fed chair has unilaterally decided to adopt a less interactive, significantly scaled-back approach to how the central bank communicates with the public and financial markets.\nRather than maintaining the highly talkative, guiding role of his predecessors, Warsh has initiated a \"quiet revolution\" aimed at restoring mystery and removing the market's over-reliance on the central bank.\nHe has even suggested scaling back the number of FOMC meetings to six from eight. This is still a discussion-in-progress.\n<img src=\"https://community-static.tradeup.com/news/7c48278b2746fb5a37bd531cf9dc1523\" tg-width=\"1877\" tg-height=\"487\">\n<h2>Jackson Hole, Wyoming Speech.</h2>\nAt Jackson Hole, Kevin Warsh used his first major speech as Fed chair to reset his credibility on inflation after a poorly received July news conference.\nHe made 3 core points:\n(1) Inflation is still too high and not falling fast enough.\n<ul>\n <li>\n Warsh stressed that progress over the past 2 years has been modest.</li>\n <li>\n PCE inflation hovers around 3.7% and a broad set of components are\n still running above 3%.</li>\n <li>\n Multiple measures, PCE, CPI, and component breadth, all tell the same story: inflation is above the 2% target.</li>\n</ul>\n(2) Fed’s priority is prices, and it still has “work to do.\n<ul>\n <li>\n With US labour market stable and financial conditions not clearly restrictive, Warsh argued that the Fed’s predominant focus must be on inflation.</li>\n <li>\n His key line “Otherwise, we have work to do” was widely read as an opening to hike rates if needed, not just hold or cut.</li>\n</ul>\n(3) Policy tools and framework: rates first, no near-term AI or balance-sheet pivots.\n<ul>\n <li>\n Warsh reaffirmed that short-term interest rates are the main tool for the dual mandate.</li>\n <li>\n He downplayed the idea that (a) AI-driven productivity or (b) balance-sheet runoff should drive near-term decisions.</li>\n <li>\n And insisted his comments were not forward guidance, but the substance was clearly more hawkish than before.</li>\n</ul>\nIf interpreted ‘accurately’ - politically, the speech drew a line between Warsh and Trump’s push for lower rates.\nDoes this signal that Warsh is willing to risk (a) short-term market and (b) political discomfort - to protect the Fed’s inflation credibility ?\n<img src=\"https://community-static.tradeup.com/news/4bcd071d12ed68b138f50e4f1b7ad6b5\" tg-width=\"701\" tg-height=\"203\">\n<h2>Speech Dissection.</h2>\nWarsh’s Jackson Hole address is best read as a deliberate credibility reset with 3 implications:\n(1) Hawkish tilt and data-dependent.\n<ul>\n <li>\n He did not promise a hike, but he raised the bar for what counts as “enough” progress on inflation and made it clear that standing pat is not automatic if price pressures persist.</li>\n <li>\n His phrase extract “we have work to do” is intentionally vague but biased toward tightening if August 2026’s CPI/PPI and the next PCE come in firm.</li>\n</ul>\n(2) Markets now see September as “live.”\n<ul>\n <li>\n Before Warsh’s speech, many traders saw September 2026 as likely on “Hold”.</li>\n <li>\n After, traders priced a roughly 55–60% chance of a +0.25% hike at the Sept 15–16 FOMC meeting.</li>\n <li>\n That’s a material repricing, not just noise.</li>\n</ul>\n(3) Political risk is being internalized, not avoided.\n<ul>\n <li>\n By emphasizing the 2% target and the primacy of rates, Warsh is signaling independence from Trump’s rate-cut demands, even ahead of the November 2026 midterms.</li>\n <li>\n That likely increases the chance that the Fed will act on inflation even if it creates political friction.</li>\n</ul>\nIn short, Warsh did not lock in a hike, but he shifted the default assumption from “Hold unless data worsens” to “Hike unless data clearly improves”.\n<img src=\"https://community-static.tradeup.com/news/196ff7d932b376d8faaeb95007d66a8a\" tg-width=\"872\" tg-height=\"621\">Latest CME Fedwatch Tool readings\n<h2>CME Fedwatch Tool - latest.</h2>\nCompare to traders’ estimates after Warsh’s speech, the CME Fedwatch tool’s latest forecast does not differ much. (see above)\n<ul>\n <li>\n Probability of a +0.25% interest hike to 3.75% - 4.00% is at 57%.</li>\n <li>\n Probability of interest remaining unchanged, stood at 43%.</li>\n</ul>\nWhat Fedwatch tool readings say about Warsh’s speech ?\nThe FedWatch pricing is broadly consistent with the hawkish interpretation of Warsh’s Jackson Hole remarks:\n<ul>\n <li>\n His insistence that inflation remains above target supports the case for further tightening.</li>\n <li>\n His statement that the Fed’s “predominant focus right now should be on prices” points toward a greater willingness to prioritize inflation control.</li>\n <li>\n His warning that, unless underlying inflation is moving convincingly toward 2%, “we have work to do,” leaves open the possibility of a September 2026 hike.</li>\n <li>\n His emphasis on short-term interest rates as the Fed’s predominant policy tool makes a rate increase the natural mechanism if the Committee concludes that inflation progress is insufficient.\n </li>\n</ul>\n<h2>US Fed Funds Rate vs S&amp;P 500 Index.</h2>\nAt this juncture, I think it is important that investors’ realize &amp; understand the co-relation (if any) between US Fed’s funds rate and the US market. (see below)\nFor simplicity, will defer to the <a href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> index for comparison purpose.\n<img src=\"https://community-static.tradeup.com/news/3bf0a5da83b55ca9a1be65327ce6a880\" tg-width=\"1808\" tg-height=\"806\">\nThe correlation between the Federal Funds Rate (red bars) and the S&amp;P 500 Index (blue line) over the 5-year period from August 2021 to August 2026 demonstrates that the stock market does not react to interest rates in a simple linear fashion.\nThe time period stretches over 2 presidential term:\n<ul>\n <li>\n Joe Biden - 20 Jan 2021 - 20 Jan 2025. It is important to remember that Biden inherited a country still in the thick of Covid-19 pandemic, assuming all the debt and mess incurred during Trump’s first term.</li>\n <li>\n Donald Trump - 20 Jan 2025 - 20 Jan 2029.</li>\n</ul>\n<h2>Key Historical Phases.</h2>\n(1) Aggressive Tightening Phase (2022):\n<ul>\n <li>\n As inflation surged in early 2022, US Fed initiated one of the fastest rate-hiking cycles in history, raising the Fed Funds rate from near 0% to over 4% by late 2022.</li>\n <li>\n The shock of rapidly rising borrowing costs and expanding equity discount rates triggered a major bear market.</li>\n <li>\n The S&amp;P 500 dropped from near 4,800 index points to its cycle trough around 3,500 points in October 2022.</li>\n</ul>\n(2) Absorption Phase (2023– Mid-2024):\n<ul>\n <li>\n Despite interest rates continuing upward to hit a peak plateau near 5.25 – 5.50% and holding elevated throughout late 2023 and early 2024, the equity market staged a major multi-year rally.</li>\n <li>\n Once the speed of rate hikes ceased and terminal rates became predictable, markets adapted.</li>\n <li>\n Driven by strong mega-cap corporate earnings and economic resilience, the S&amp;P 500 advanced continuously through the elevated rate environment, moving from 4,000 points toward 5,500 points.</li>\n</ul>\n(3) Pivot &amp; Rally Phase (Late 2024–Mid 2026):\n<ul>\n <li>\n As rates were modestly recalibrated downward to around 3.6%–3.75%, the lower cost of capital provided additional liquidity, pushing the S&amp;P 500 index past 7,200 to near 7,800 points by August 2026.\n </li>\n</ul>\n<img src=\"https://community-static.tradeup.com/news/13d59702af53d987bde301c7c001895e\" tg-width=\"1093\" tg-height=\"340\">\n<h2>How Interest Rate Affects US Stocks.</h2>\nThe S&amp;P 500 responds to interest rate shifts through 3 core financial transmission mechanisms:\n(1) Valuation &amp; Discounted Cash Flows (DCF):\n<ul>\n <li>\n Equity valuations represent the net present value of future earnings.</li>\n <li>\n Higher benchmark interest rates increase the risk-free rate (Rf) and cost of capital, discounting future earnings at a higher rate.</li>\n <li>\n Growth stocks and tech firms, that rely heavily on long-duration earnings, suffer the greatest valuation multiple contractions when rates rise.</li>\n</ul>\n(2) Corporate Profitability &amp; Cost of Capital:\n<ul>\n <li>\n Higher interest rates increase corporate interest expenses on (a) floating-rate debt and (b) refinancing operations.</li>\n <li>\n This compresses net profit margins, reduces corporate debt-financed share buyback activity, and curbs capital expenditures (capex).</li>\n</ul>\n(3) Capital Allocation Dynamics:\n<ul>\n <li>\n When risk-free short-term assets (US Treasury bills, money market funds) yield 3.75% - 4.00% or higher, equity risk premiums shrink.</li>\n <li>\n Investors shift allocations away from high-volatility equities into fixed income, suppressing equity demand.</li>\n</ul>\n<h2>US Fed Raises Interest Rate.</h2>\nBased on the latest CME FedWatch tool readings (see above), if Kevin Warsh’s FOMC team decides to hike interest rate by +0.25%, there will be 2 direct implications:\nReprised \"Hawkish Shock\":\n<ul>\n <li>\n A rate hike would re-price market expectations for the rest of 2026.</li>\n <li>\n Equities would likely undergo an immediate pull-back or repricing event, concentrated in high-multiple tech and growth sectors.</li>\n</ul>\nBond Yield &amp; Dollar Surge:\n<ul>\n <li>\n Short-term Treasury yields (specifically the 2-year Treasury) would gap upward, strengthening the US Dollar index.</li>\n <li>\n Additional headwinds would also be created in the process, for multinational earnings within the S&amp;P 500.\n </li>\n</ul>\n<h2>Extent of Sectors’ Impact.</h2>\nBased on Charles Schwab’s Center for Financial Research (SCFR), the impact of an interest hike on the stock markets’ sectors will vary, as expected.\n<img src=\"https://community-static.tradeup.com/news/08f8808af110cf1579e96f7eccdd394f\" tg-width=\"4000\" tg-height=\"2316\">\nUsing a factor-based approach with a market &amp; economic assessment methodology, below are expected ratings for each of the sector: (see above)\n<ul>\n <li>\n Most impacted: <a href=\"https://ttm.financial/S/XLY\">$Consumer Discretionary Select Sector SPDR Fund(XLY)$</a>, Real estates, Utilities.</li>\n <li>\n Neutral: <a href=\"https://ttm.financial/S/XLC\">$Communication Services Select Sector SPDR Fund(XLC)$</a> , Consumer staples, Energy &amp; Information technology.</li>\n <li>\n Least impacted: <a href=\"https://ttm.financial/S/XLF\">$Financial Select Sector SPDR Fund(XLF)$</a>, Healthcare, Industrials &amp; Materials.\n </li>\n</ul>\n<img src=\"https://community-static.tradeup.com/news/75af89347e61704514895631f1522819\" tg-width=\"829\" tg-height=\"153\">\n<h2>Medium-Term Index Outlook.</h2>\nTo wrap up, is Fed’s interest hike a necessary anti-inflation measure or a growth-stifling policy mistake ?\nIf implemented, how will market sentiments drive the S&amp;P 500’s direction or for that matter, the Down or Nasdaq through late 2026 ?\nHawkish Hike:\nIf US market interprets a September 2026 hike as a proactive, highly credible move to crush lingering sticky inflation, the pullback may prove to be a short-lived consolidation within an ongoing macro bull market.\nPolicy error narrative.\nConversely, if investors worry the interest hike will slow down economic growth amid political tensions before US’s November 2026 midterms, stock prices could drop further and trigger a larger market fall through late 2026.\n<img src=\"https://community-static.tradeup.com/news/095c0fc84cd845b68453a9281e871ed2\" tg-width=\"1152\" tg-height=\"158\">\n<h2>My viewpoints: (mine only)</h2>\nRegardless of whether investors (a) expect an imminent rate hike or (b) fear a market pullback, Kevin Warsh’s hawkish stance makes one thing clear - navigating US market 3 indexes (Dow, S&amp;P 500 and Nasdaq) through late 2026 will require looking past immediate volatility and focus on how monetary policy effectively balances inflation control against economic growth.\nIt includes ignoring short-term market noise, emotional knee-jerk selling, and day-to-day stock price fluctuations triggered by a single speech or event.\n<blockquote>\n Equally important, always keep spare capital on hand, ready to be deployed effectively at short notice. Do you agree ?\n</blockquote>\n<img src=\"https://community-static.tradeup.com/news/7dbe0aae1d9996f3e3bb681adf39ede5\" tg-width=\"619\" tg-height=\"133\">\n<blockquote>\n Remember to check out my other posts. (See below). Help to Repost ok, Thanks.\n</blockquote>\n<blockquote>\n Must Read:&nbsp;Click on below titles to access.&nbsp;Repost&nbsp;to share,&nbsp;Like&nbsp;as encouragement&nbsp;ok. Thanks.\n</blockquote>\n<ul>\n <li>\n <a href=\"https://ttm.financial/post/601486582248440\" target=\"_blank\">INTC - Time to Invest again ?</a></li>\n <li>\n <a href=\"https://ttm.financial/post/601139868926464\" target=\"_blank\">INTC &amp; BE, Nancy Pelosi bought, should we ?</a></li>\n <li>\n <a href=\"https://ttm.financial/post/600789641343608\" target=\"_blank\">SMCI - time to Strike or time to Wait ?</a>\n </li>\n</ul>\n<img src=\"https://community-static.tradeup.com/news/b47a1c169243df39dbb4891f1a51c52d\" tg-width=\"927\" tg-height=\"165\">\n<ul>\n <li>\n Do you think&nbsp;interest rate will rise after the Sept 15–16, 2026 - FOMC meeting ?</li>\n <li>\n Do you think hiking interest rate is necessary to cool inflation since there is no way to control Trump’s destructive policies &amp; antics, from driving inflation higher ?\n </li>\n</ul>\n<img src=\"https://community-static.tradeup.com/news/4bb688e4c42664f5cce4d7f7e7d5a5db\" tg-width=\"1142\" tg-height=\"128\">\nIf you find this post interesting, give it wings! ️&nbsp;Repost&nbsp;and share the insights ?\nDo consider&nbsp;“Follow me”&nbsp;and get firsthand read of my daily new post. Thank you.\n<a href=\"https://ttm.financial/U/3527667621665671\">@Daily_Discussion</a>\n<a href=\"https://ttm.financial/U/3527667588142897\">@TigerPM</a>\n<a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars</a>\n<a href=\"https://ttm.financial/U/4106547232749330\">@Tiger_SG</a>\n<a href=\"https://ttm.financial/U/3527667667103859\">@TigerEvents</a></body></html>","htmlText":"<html><head></head><body><img src=\"https://community-static.tradeup.com/news/49eb211409ffb23958cd52521a826610\" tg-width=\"1332\" tg-height=\"812\">\n<h2>Fed Chair - Kevin Warsh.</h2>\nOn Fri, 28 Aug 2026 at the US central bank‘s annual economic policy symposium at Jackson Hole, Wyoming, new Fed chair Kevin Warsh spoke on his 100th day as Chairman.\nThis was a much-awaited speech as the new Fed chair has unilaterally decided to adopt a less interactive, significantly scaled-back approach to how the central bank communicates with the public and financial markets.\nRather than maintaining the highly talkative, guiding role of his predecessors, Warsh has initiated a \"quiet revolution\" aimed at restoring mystery and removing the market's over-reliance on the central bank.\nHe has even suggested scaling back the number of FOMC meetings to six from eight. This is still a discussion-in-progress.\n<img src=\"https://community-static.tradeup.com/news/7c48278b2746fb5a37bd531cf9dc1523\" tg-width=\"1877\" tg-height=\"487\">\n<h2>Jackson Hole, Wyoming Speech.</h2>\nAt Jackson Hole, Kevin Warsh used his first major speech as Fed chair to reset his credibility on inflation after a poorly received July news conference.\nHe made 3 core points:\n(1) Inflation is still too high and not falling fast enough.\n<ul>\n <li>\n Warsh stressed that progress over the past 2 years has been modest.</li>\n <li>\n PCE inflation hovers around 3.7% and a broad set of components are\n still running above 3%.</li>\n <li>\n Multiple measures, PCE, CPI, and component breadth, all tell the same story: inflation is above the 2% target.</li>\n</ul>\n(2) Fed’s priority is prices, and it still has “work to do.\n<ul>\n <li>\n With US labour market stable and financial conditions not clearly restrictive, Warsh argued that the Fed’s predominant focus must be on inflation.</li>\n <li>\n His key line “Otherwise, we have work to do” was widely read as an opening to hike rates if needed, not just hold or cut.</li>\n</ul>\n(3) Policy tools and framework: rates first, no near-term AI or balance-sheet pivots.\n<ul>\n <li>\n Warsh reaffirmed that short-term interest rates are the main tool for the dual mandate.</li>\n <li>\n He downplayed the idea that (a) AI-driven productivity or (b) balance-sheet runoff should drive near-term decisions.</li>\n <li>\n And insisted his comments were not forward guidance, but the substance was clearly more hawkish than before.</li>\n</ul>\nIf interpreted ‘accurately’ - politically, the speech drew a line between Warsh and Trump’s push for lower rates.\nDoes this signal that Warsh is willing to risk (a) short-term market and (b) political discomfort - to protect the Fed’s inflation credibility ?\n<img src=\"https://community-static.tradeup.com/news/4bcd071d12ed68b138f50e4f1b7ad6b5\" tg-width=\"701\" tg-height=\"203\">\n<h2>Speech Dissection.</h2>\nWarsh’s Jackson Hole address is best read as a deliberate credibility reset with 3 implications:\n(1) Hawkish tilt and data-dependent.\n<ul>\n <li>\n He did not promise a hike, but he raised the bar for what counts as “enough” progress on inflation and made it clear that standing pat is not automatic if price pressures persist.</li>\n <li>\n His phrase extract “we have work to do” is intentionally vague but biased toward tightening if August 2026’s CPI/PPI and the next PCE come in firm.</li>\n</ul>\n(2) Markets now see September as “live.”\n<ul>\n <li>\n Before Warsh’s speech, many traders saw September 2026 as likely on “Hold”.</li>\n <li>\n After, traders priced a roughly 55–60% chance of a +0.25% hike at the Sept 15–16 FOMC meeting.</li>\n <li>\n That’s a material repricing, not just noise.</li>\n</ul>\n(3) Political risk is being internalized, not avoided.\n<ul>\n <li>\n By emphasizing the 2% target and the primacy of rates, Warsh is signaling independence from Trump’s rate-cut demands, even ahead of the November 2026 midterms.</li>\n <li>\n That likely increases the chance that the Fed will act on inflation even if it creates political friction.</li>\n</ul>\nIn short, Warsh did not lock in a hike, but he shifted the default assumption from “Hold unless data worsens” to “Hike unless data clearly improves”.\n<img src=\"https://community-static.tradeup.com/news/196ff7d932b376d8faaeb95007d66a8a\" tg-width=\"872\" tg-height=\"621\">Latest CME Fedwatch Tool readings\n<h2>CME Fedwatch Tool - latest.</h2>\nCompare to traders’ estimates after Warsh’s speech, the CME Fedwatch tool’s latest forecast does not differ much. (see above)\n<ul>\n <li>\n Probability of a +0.25% interest hike to 3.75% - 4.00% is at 57%.</li>\n <li>\n Probability of interest remaining unchanged, stood at 43%.</li>\n</ul>\nWhat Fedwatch tool readings say about Warsh’s speech ?\nThe FedWatch pricing is broadly consistent with the hawkish interpretation of Warsh’s Jackson Hole remarks:\n<ul>\n <li>\n His insistence that inflation remains above target supports the case for further tightening.</li>\n <li>\n His statement that the Fed’s “predominant focus right now should be on prices” points toward a greater willingness to prioritize inflation control.</li>\n <li>\n His warning that, unless underlying inflation is moving convincingly toward 2%, “we have work to do,” leaves open the possibility of a September 2026 hike.</li>\n <li>\n His emphasis on short-term interest rates as the Fed’s predominant policy tool makes a rate increase the natural mechanism if the Committee concludes that inflation progress is insufficient.\n </li>\n</ul>\n<h2>US Fed Funds Rate vs S&amp;P 500 Index.</h2>\nAt this juncture, I think it is important that investors’ realize &amp; understand the co-relation (if any) between US Fed’s funds rate and the US market. (see below)\nFor simplicity, will defer to the <a href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> index for comparison purpose.\n<img src=\"https://community-static.tradeup.com/news/3bf0a5da83b55ca9a1be65327ce6a880\" tg-width=\"1808\" tg-height=\"806\">\nThe correlation between the Federal Funds Rate (red bars) and the S&amp;P 500 Index (blue line) over the 5-year period from August 2021 to August 2026 demonstrates that the stock market does not react to interest rates in a simple linear fashion.\nThe time period stretches over 2 presidential term:\n<ul>\n <li>\n Joe Biden - 20 Jan 2021 - 20 Jan 2025. It is important to remember that Biden inherited a country still in the thick of Covid-19 pandemic, assuming all the debt and mess incurred during Trump’s first term.</li>\n <li>\n Donald Trump - 20 Jan 2025 - 20 Jan 2029.</li>\n</ul>\n<h2>Key Historical Phases.</h2>\n(1) Aggressive Tightening Phase (2022):\n<ul>\n <li>\n As inflation surged in early 2022, US Fed initiated one of the fastest rate-hiking cycles in history, raising the Fed Funds rate from near 0% to over 4% by late 2022.</li>\n <li>\n The shock of rapidly rising borrowing costs and expanding equity discount rates triggered a major bear market.</li>\n <li>\n The S&amp;P 500 dropped from near 4,800 index points to its cycle trough around 3,500 points in October 2022.</li>\n</ul>\n(2) Absorption Phase (2023– Mid-2024):\n<ul>\n <li>\n Despite interest rates continuing upward to hit a peak plateau near 5.25 – 5.50% and holding elevated throughout late 2023 and early 2024, the equity market staged a major multi-year rally.</li>\n <li>\n Once the speed of rate hikes ceased and terminal rates became predictable, markets adapted.</li>\n <li>\n Driven by strong mega-cap corporate earnings and economic resilience, the S&amp;P 500 advanced continuously through the elevated rate environment, moving from 4,000 points toward 5,500 points.</li>\n</ul>\n(3) Pivot &amp; Rally Phase (Late 2024–Mid 2026):\n<ul>\n <li>\n As rates were modestly recalibrated downward to around 3.6%–3.75%, the lower cost of capital provided additional liquidity, pushing the S&amp;P 500 index past 7,200 to near 7,800 points by August 2026.\n </li>\n</ul>\n<img src=\"https://community-static.tradeup.com/news/13d59702af53d987bde301c7c001895e\" tg-width=\"1093\" tg-height=\"340\">\n<h2>How Interest Rate Affects US Stocks.</h2>\nThe S&amp;P 500 responds to interest rate shifts through 3 core financial transmission mechanisms:\n(1) Valuation &amp; Discounted Cash Flows (DCF):\n<ul>\n <li>\n Equity valuations represent the net present value of future earnings.</li>\n <li>\n Higher benchmark interest rates increase the risk-free rate (Rf) and cost of capital, discounting future earnings at a higher rate.</li>\n <li>\n Growth stocks and tech firms, that rely heavily on long-duration earnings, suffer the greatest valuation multiple contractions when rates rise.</li>\n</ul>\n(2) Corporate Profitability &amp; Cost of Capital:\n<ul>\n <li>\n Higher interest rates increase corporate interest expenses on (a) floating-rate debt and (b) refinancing operations.</li>\n <li>\n This compresses net profit margins, reduces corporate debt-financed share buyback activity, and curbs capital expenditures (capex).</li>\n</ul>\n(3) Capital Allocation Dynamics:\n<ul>\n <li>\n When risk-free short-term assets (US Treasury bills, money market funds) yield 3.75% - 4.00% or higher, equity risk premiums shrink.</li>\n <li>\n Investors shift allocations away from high-volatility equities into fixed income, suppressing equity demand.</li>\n</ul>\n<h2>US Fed Raises Interest Rate.</h2>\nBased on the latest CME FedWatch tool readings (see above), if Kevin Warsh’s FOMC team decides to hike interest rate by +0.25%, there will be 2 direct implications:\nReprised \"Hawkish Shock\":\n<ul>\n <li>\n A rate hike would re-price market expectations for the rest of 2026.</li>\n <li>\n Equities would likely undergo an immediate pull-back or repricing event, concentrated in high-multiple tech and growth sectors.</li>\n</ul>\nBond Yield &amp; Dollar Surge:\n<ul>\n <li>\n Short-term Treasury yields (specifically the 2-year Treasury) would gap upward, strengthening the US Dollar index.</li>\n <li>\n Additional headwinds would also be created in the process, for multinational earnings within the S&amp;P 500.\n </li>\n</ul>\n<h2>Extent of Sectors’ Impact.</h2>\nBased on Charles Schwab’s Center for Financial Research (SCFR), the impact of an interest hike on the stock markets’ sectors will vary, as expected.\n<img src=\"https://community-static.tradeup.com/news/08f8808af110cf1579e96f7eccdd394f\" tg-width=\"4000\" tg-height=\"2316\">\nUsing a factor-based approach with a market &amp; economic assessment methodology, below are expected ratings for each of the sector: (see above)\n<ul>\n <li>\n Most impacted: <a href=\"https://ttm.financial/S/XLY\">$Consumer Discretionary Select Sector SPDR Fund(XLY)$</a>, Real estates, Utilities.</li>\n <li>\n Neutral: <a href=\"https://ttm.financial/S/XLC\">$Communication Services Select Sector SPDR Fund(XLC)$</a> , Consumer staples, Energy &amp; Information technology.</li>\n <li>\n Least impacted: <a href=\"https://ttm.financial/S/XLF\">$Financial Select Sector SPDR Fund(XLF)$</a>, Healthcare, Industrials &amp; Materials.\n </li>\n</ul>\n<img src=\"https://community-static.tradeup.com/news/75af89347e61704514895631f1522819\" tg-width=\"829\" tg-height=\"153\">\n<h2>Medium-Term Index Outlook.</h2>\nTo wrap up, is Fed’s interest hike a necessary anti-inflation measure or a growth-stifling policy mistake ?\nIf implemented, how will market sentiments drive the S&amp;P 500’s direction or for that matter, the Down or Nasdaq through late 2026 ?\nHawkish Hike:\nIf US market interprets a September 2026 hike as a proactive, highly credible move to crush lingering sticky inflation, the pullback may prove to be a short-lived consolidation within an ongoing macro bull market.\nPolicy error narrative.\nConversely, if investors worry the interest hike will slow down economic growth amid political tensions before US’s November 2026 midterms, stock prices could drop further and trigger a larger market fall through late 2026.\n<img src=\"https://community-static.tradeup.com/news/095c0fc84cd845b68453a9281e871ed2\" tg-width=\"1152\" tg-height=\"158\">\n<h2>My viewpoints: (mine only)</h2>\nRegardless of whether investors (a) expect an imminent rate hike or (b) fear a market pullback, Kevin Warsh’s hawkish stance makes one thing clear - navigating US market 3 indexes (Dow, S&amp;P 500 and Nasdaq) through late 2026 will require looking past immediate volatility and focus on how monetary policy effectively balances inflation control against economic growth.\nIt includes ignoring short-term market noise, emotional knee-jerk selling, and day-to-day stock price fluctuations triggered by a single speech or event.\n<blockquote>\n Equally important, always keep spare capital on hand, ready to be deployed effectively at short notice. Do you agree ?\n</blockquote>\n<img src=\"https://community-static.tradeup.com/news/7dbe0aae1d9996f3e3bb681adf39ede5\" tg-width=\"619\" tg-height=\"133\">\n<blockquote>\n Remember to check out my other posts. (See below). Help to Repost ok, Thanks.\n</blockquote>\n<blockquote>\n Must Read:&nbsp;Click on below titles to access.&nbsp;Repost&nbsp;to share,&nbsp;Like&nbsp;as encouragement&nbsp;ok. Thanks.\n</blockquote>\n<ul>\n <li>\n <a href=\"https://ttm.financial/post/601486582248440\" target=\"_blank\">INTC - Time to Invest again ?</a></li>\n <li>\n <a href=\"https://ttm.financial/post/601139868926464\" target=\"_blank\">INTC &amp; BE, Nancy Pelosi bought, should we ?</a></li>\n <li>\n <a href=\"https://ttm.financial/post/600789641343608\" target=\"_blank\">SMCI - time to Strike or time to Wait ?</a>\n </li>\n</ul>\n<img src=\"https://community-static.tradeup.com/news/b47a1c169243df39dbb4891f1a51c52d\" tg-width=\"927\" tg-height=\"165\">\n<ul>\n <li>\n Do you think&nbsp;interest rate will rise after the Sept 15–16, 2026 - FOMC meeting ?</li>\n <li>\n Do you think hiking interest rate is necessary to cool inflation since there is no way to control Trump’s destructive policies &amp; antics, from driving inflation higher ?\n </li>\n</ul>\n<img src=\"https://community-static.tradeup.com/news/4bb688e4c42664f5cce4d7f7e7d5a5db\" tg-width=\"1142\" tg-height=\"128\">\nIf you find this post interesting, give it wings! ️&nbsp;Repost&nbsp;and share the insights ?\nDo consider&nbsp;“Follow me”&nbsp;and get firsthand read of my daily new post. Thank you.\n<a href=\"https://ttm.financial/U/3527667621665671\">@Daily_Discussion</a>\n<a href=\"https://ttm.financial/U/3527667588142897\">@TigerPM</a>\n<a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars</a>\n<a href=\"https://ttm.financial/U/4106547232749330\">@Tiger_SG</a>\n<a href=\"https://ttm.financial/U/3527667667103859\">@TigerEvents</a></body></html>","text":"Fed Chair - Kevin Warsh. On Fri, 28 Aug 2026 at the US central bank‘s annual economic policy symposium at Jackson Hole, Wyoming, new Fed chair Kevin Warsh spoke on his 100th day as Chairman. This was a much-awaited speech as the new Fed chair has unilaterally decided to adopt a less interactive, significantly scaled-back approach to how the central bank communicates with the public and financial markets. Rather than maintaining the highly talkative, guiding role of his predecessors, Warsh has initiated a \"quiet revolution\" aimed at restoring mystery and removing the market's over-reliance on the central bank. He has even suggested scaling back the number of FOMC meetings to six from eight. This is still a discussion-in-progress. Jackson Hole, Wyoming Speech. At Jackson Hole, Kevin Warsh used his first major speech as Fed chair to reset his credibility on inflation after a poorly received July news conference. He made 3 core points: (1) Inflation is still too high and not falling fast enough. Warsh stressed that progress over the past 2 years has been modest. PCE inflation hovers around 3.7% and a broad set of components are still running above 3%. Multiple measures, PCE, CPI, and component breadth, all tell the same story: inflation is above the 2% target. (2) Fed’s priority is prices, and it still has “work to do. With US labour market stable and financial conditions not clearly restrictive, Warsh argued that the Fed’s predominant focus must be on inflation. His key line “Otherwise, we have work to do” was widely read as an opening to hike rates if needed, not just hold or cut. (3) Policy tools and framework: rates first, no near-term AI or balance-sheet pivots. Warsh reaffirmed that short-term interest rates are the main tool for the dual mandate. He downplayed the idea that (a) AI-driven productivity or (b) balance-sheet runoff should drive near-term decisions. And insisted his comments were not forward guidance, but the substance was clearly more hawkish than before. If interpreted ‘accurately’ - politically, the speech drew a line between Warsh and Trump’s push for lower rates. Does this signal that Warsh is willing to risk (a) short-term market and (b) political discomfort - to protect the Fed’s inflation credibility ? Speech Dissection. Warsh’s Jackson Hole address is best read as a deliberate credibility reset with 3 implications: (1) Hawkish tilt and data-dependent. He did not promise a hike, but he raised the bar for what counts as “enough” progress on inflation and made it clear that standing pat is not automatic if price pressures persist. His phrase extract “we have work to do” is intentionally vague but biased toward tightening if August 2026’s CPI/PPI and the next PCE come in firm. (2) Markets now see September as “live.” Before Warsh’s speech, many traders saw September 2026 as likely on “Hold”. After, traders priced a roughly 55–60% chance of a +0.25% hike at the Sept 15–16 FOMC meeting. That’s a material repricing, not just noise. (3) Political risk is being internalized, not avoided. By emphasizing the 2% target and the primacy of rates, Warsh is signaling independence from Trump’s rate-cut demands, even ahead of the November 2026 midterms. That likely increases the chance that the Fed will act on inflation even if it creates political friction. In short, Warsh did not lock in a hike, but he shifted the default assumption from “Hold unless data worsens” to “Hike unless data clearly improves”. Latest CME Fedwatch Tool readings CME Fedwatch Tool - latest. Compare to traders’ estimates after Warsh’s speech, the CME Fedwatch tool’s latest forecast does not differ much. (see above) Probability of a +0.25% interest hike to 3.75% - 4.00% is at 57%. Probability of interest remaining unchanged, stood at 43%. What Fedwatch tool readings say about Warsh’s speech ? The FedWatch pricing is broadly consistent with the hawkish interpretation of Warsh’s Jackson Hole remarks: His insistence that inflation remains above target supports the case for further tightening. His statement that the Fed’s “predominant focus right now should be on prices” points toward a greater willingness to prioritize inflation control. His warning that, unless underlying inflation is moving convincingly toward 2%, “we have work to do,” leaves open the possibility of a September 2026 hike. His emphasis on short-term interest rates as the Fed’s predominant policy tool makes a rate increase the natural mechanism if the Committee concludes that inflation progress is insufficient. US Fed Funds Rate vs S&P 500 Index. At this juncture, I think it is important that investors’ realize & understand the co-relation (if any) between US Fed’s funds rate and the US market. (see below) For simplicity, will defer to the $S&P 500(.SPX)$ index for comparison purpose. The correlation between the Federal Funds Rate (red bars) and the S&P 500 Index (blue line) over the 5-year period from August 2021 to August 2026 demonstrates that the stock market does not react to interest rates in a simple linear fashion. The time period stretches over 2 presidential term: Joe Biden - 20 Jan 2021 - 20 Jan 2025. It is important to remember that Biden inherited a country still in the thick of Covid-19 pandemic, assuming all the debt and mess incurred during Trump’s first term. Donald Trump - 20 Jan 2025 - 20 Jan 2029. Key Historical Phases. (1) Aggressive Tightening Phase (2022): As inflation surged in early 2022, US Fed initiated one of the fastest rate-hiking cycles in history, raising the Fed Funds rate from near 0% to over 4% by late 2022. The shock of rapidly rising borrowing costs and expanding equity discount rates triggered a major bear market. The S&P 500 dropped from near 4,800 index points to its cycle trough around 3,500 points in October 2022. (2) Absorption Phase (2023– Mid-2024): Despite interest rates continuing upward to hit a peak plateau near 5.25 – 5.50% and holding elevated throughout late 2023 and early 2024, the equity market staged a major multi-year rally. Once the speed of rate hikes ceased and terminal rates became predictable, markets adapted. Driven by strong mega-cap corporate earnings and economic resilience, the S&P 500 advanced continuously through the elevated rate environment, moving from 4,000 points toward 5,500 points. (3) Pivot & Rally Phase (Late 2024–Mid 2026): As rates were modestly recalibrated downward to around 3.6%–3.75%, the lower cost of capital provided additional liquidity, pushing the S&P 500 index past 7,200 to near 7,800 points by August 2026. How Interest Rate Affects US Stocks. The S&P 500 responds to interest rate shifts through 3 core financial transmission mechanisms: (1) Valuation & Discounted Cash Flows (DCF): Equity valuations represent the net present value of future earnings. Higher benchmark interest rates increase the risk-free rate (Rf) and cost of capital, discounting future earnings at a higher rate. Growth stocks and tech firms, that rely heavily on long-duration earnings, suffer the greatest valuation multiple contractions when rates rise. (2) Corporate Profitability & Cost of Capital: Higher interest rates increase corporate interest expenses on (a) floating-rate debt and (b) refinancing operations. This compresses net profit margins, reduces corporate debt-financed share buyback activity, and curbs capital expenditures (capex). (3) Capital Allocation Dynamics: When risk-free short-term assets (US Treasury bills, money market funds) yield 3.75% - 4.00% or higher, equity risk premiums shrink. Investors shift allocations away from high-volatility equities into fixed income, suppressing equity demand. US Fed Raises Interest Rate. Based on the latest CME FedWatch tool readings (see above), if Kevin Warsh’s FOMC team decides to hike interest rate by +0.25%, there will be 2 direct implications: Reprised \"Hawkish Shock\": A rate hike would re-price market expectations for the rest of 2026. Equities would likely undergo an immediate pull-back or repricing event, concentrated in high-multiple tech and growth sectors. Bond Yield & Dollar Surge: Short-term Treasury yields (specifically the 2-year Treasury) would gap upward, strengthening the US Dollar index. Additional headwinds would also be created in the process, for multinational earnings within the S&P 500. Extent of Sectors’ Impact. Based on Charles Schwab’s Center for Financial Research (SCFR), the impact of an interest hike on the stock markets’ sectors will vary, as expected. Using a factor-based approach with a market & economic assessment methodology, below are expected ratings for each of the sector: (see above) Most impacted: $Consumer Discretionary Select Sector SPDR Fund(XLY)$, Real estates, Utilities. Neutral: $Communication Services Select Sector SPDR Fund(XLC)$ , Consumer staples, Energy & Information technology. Least impacted: $Financial Select Sector SPDR Fund(XLF)$, Healthcare, Industrials & Materials. Medium-Term Index Outlook. To wrap up, is Fed’s interest hike a necessary anti-inflation measure or a growth-stifling policy mistake ? If implemented, how will market sentiments drive the S&P 500’s direction or for that matter, the Down or Nasdaq through late 2026 ? Hawkish Hike: If US market interprets a September 2026 hike as a proactive, highly credible move to crush lingering sticky inflation, the pullback may prove to be a short-lived consolidation within an ongoing macro bull market. Policy error narrative. Conversely, if investors worry the interest hike will slow down economic growth amid political tensions before US’s November 2026 midterms, stock prices could drop further and trigger a larger market fall through late 2026. My viewpoints: (mine only) Regardless of whether investors (a) expect an imminent rate hike or (b) fear a market pullback, Kevin Warsh’s hawkish stance makes one thing clear - navigating US market 3 indexes (Dow, S&P 500 and Nasdaq) through late 2026 will require looking past immediate volatility and focus on how monetary policy effectively balances inflation control against economic growth. It includes ignoring short-term market noise, emotional knee-jerk selling, and day-to-day stock price fluctuations triggered by a single speech or event. Equally important, always keep spare capital on hand, ready to be deployed effectively at short notice. Do you agree ? Remember to check out my other posts. (See below). Help to Repost ok, Thanks. Must Read: Click on below titles to access. Repost to share, Like as encouragement ok. Thanks. INTC - Time to Invest again ? INTC & BE, Nancy Pelosi bought, should we ? SMCI - time to Strike or time to Wait ? Do you think interest rate will rise after the Sept 15–16, 2026 - FOMC meeting ? Do you think hiking interest rate is necessary to cool inflation since there is no way to control Trump’s destructive policies & antics, from driving inflation higher ? If you find this post interesting, give it wings! ️ Repost and share the insights ? Do consider “Follow me” and get firsthand read of my daily new post. Thank you. @Daily_Discussion @TigerPM @TigerStars @Tiger_SG @TigerEvents","highlighted":1,"essential":2,"paper":2,"link":"https://ttm.financial/post/602948393369864","repostId":0,"isVote":1,"tweetType":1,"commentLimit":10,"symbols":["XLF",".SPX","XLY","XLC"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":9356,"optionInvolvedFlag":false,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"isVote":1,"tweetType":1,"viewCount":4,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":362,"optionInvolvedFlag":false,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/602962702643856"}