Nomura Securities warns that the appointment of a new Federal Reserve chairman may trigger market volatility

Nomura Securities has issued a warning, predicting that after the new Federal Reserve Chair takes office in May next year, they will lead a rate cut in June. However, there may be strong opposition within the Federal Reserve to further rate cuts due to the recovery of the US economy. Policy disagreements could undermine market confidence in the new Chair and may trigger tensions between the Federal Reserve and the Trump administration. Nomura expects uncertainty to erupt intensively from July to November next year, and the market may see a trend of "flight from US assets," leading to a decline in US Treasury yields, a correction in US stocks, and a weakening US dollar. Major global economies may halt rate cuts or even start a rate hike cycle, weakening the relative advantage of US dollar assets.