Recorded date: September 10, 2025 (JST) | Applicable date and time: September 9, 2025 At the end of trading
On September 9th, the global market appeared to have regained its lull due to the upset that occurred at the previous day's "a portend of Walpurgis." However, if we analyze the movements of each market in detail, it is not true stability; The structural "distortion" of divergence in perceptions between major countries and distrust in the monetary system is becoming even more widespread This was an extremely dangerous sign. Gold remains stuck in historic highs, proving that the events from the previous day were not merely temporary panic.
The rise on this day was not accompanied by a fundamental improvement in the economy, and was not merely an autonomous rebound to the sharp drop the previous day. Market interest has completely shifted to "recession concerns," and expectations for an additional interest rate cut by the Fed are barely supporting the market. Reports about the number of bankruptcies at companies are gradually beginning to increase. Despite the superficial stock price movements, there is a rapid rise in vigilance among market participants.
Report submitted the previous day "European Financial Shock: Overall Evaluation" The political unrest in France and the risk of corporate bankruptcy in Italy, pointed out in this article, once again weighed on the market. In particular, there have been observations that several rating agencies have begun to mention the outlook for French government bonds, which has cooled investor sentiment. There is little hope for a fundamental measure by the ECB. A gradual but robust capital outflow from the eurozone continues. pattern.
Amidst a global risk-off mood and increasing distrust in the core currency system, the Japanese market is the only one that continues to rise, supporting domestic narratives, "expecting corporate performance due to the weak yen." this is, The only market in the world that ignores the signs of Walpurgis The distortion has reached an extremely dangerous level. If the global credit contraction begins to fully begin, this vulnerable optimism will collapse in an instant, encompassing the risk of becoming an ideal target for foreign speculators.
New default concerns from major real estate developers have reported, causing concerns about the real estate sector to reignite. The Chinese government's fragmented economic stimulus package has not been effective, and due to uncertainty about the future of the economy, pressure on capital outflows to overseas countries is rising again.
The market on September 9th was averted by a catastrophic crash, but the tranquility was false. The high prices of gold quietly, but clearly state that the world cannot return to its former financial system.
The alignment of markets across the country is in turmoil, and Japan's "Doppo" in particular has revealed that it is completely unprepared for the upcoming shock. When this strain reaches a critical point, the recoil will be immeasurable.
The Horizon Protocol will continue to continue all operations at a "red" alert level.
T-20