Global finance is undergoing a profound transformation: economic growth is slowing, inflation is becoming more persistent, and many countries are adopting more proactive fiscal and industrial policies to support growth and employment. This is accompanied by a weaker currency and asset repricing, forcing a revision of the traditional "bond-cash" risk-hedging approach. Gold and Bitcoin are strengthening in tandem, becoming a "double insurance" for investors against sovereign credit and policy uncertainties.
Fiscal Easing and Political Cycle Resonance: Risks Continue to Accumulate
In major economies, the policy space for fiscal tightening has significantly narrowed, with currency devaluation and a higher tolerance for inflation seen as tools to maintain growth and competitiveness. Whether it is the U.S. tax cuts and re-inflation policies or Japan's continued ultra-loose monetary stance, they all reflect a new normal of "stability through debt." The ongoing expansion of fiscal deficits and debt ceilings has led to a continuous rise in the vulnerability of the global sovereign debt market. Meanwhile, central bank independence is being challenged, monetary policy space is being compressed, and the prices of risk assets and inflation expectations are re-linking, making market volatility more structurally characteristic.
Reconstructing Risk Hedging Logic: Gold and Bitcoin Become Core Anchors
The defensive attributes of traditional safe-haven assets are weakening, while assets with scarcity and cross-border independence are being re-established as stable anchors in investment portfolios. The functions of gold and Bitcoin in hedging against inflation and policy uncertainty are being continuously strengthened: on one hand, they hedge against currency weakening and real yield uncertainty brought about by fiscal expansion; on the other hand, they provide a more flexible global allocation vehicle amid intensified policy games and regulatory constraints. In the coming phase, the trend changes in long-term government bond yields across countries will be a key variable determining asset repricing and a barometer for whether the risk-hedging structure continues to tilt towards "scarce assets."
In this new macro landscape, gold and Bitcoin are becoming core allocations in investment portfolios and are among the few assets that still possess value retention capabilities, providing stable support for investors in an environment of fiscal overspending and monetary distortion.
The above viewpoints are derived from Matrix on Target, Contact Us_ to obtain the complete report of Matrix on Target._
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