---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000878077.md"
description: "Warsh’s hawkish tone definitely changes the short-term setup for me. I see the “discipline, not a decision” message as more of a data-dependent stance than dodging the question, but it does mean markets have less visibility heading into September. With rate-hike odds now around 50%, I’m expecting more volatility, especially across high-valuation AI and growth stocks. Nvidia’s pullback despite strong earnings is a good reminder that excellent fundamentals alone may not be enough when expectations and financing concerns are this high.For Singapore, I’m staying selective rather than chasing the market. Higher-for-longer rates could continue supporting banks while putting pressure on REITs and other yield-sensitive names. Meanwhile, I’m watching China’s improving but still contractionary PMI, Alibaba’s recovery, and the upcoming US jobs report closely. For me, the key question now is whether economic data can justify the Fed’s hawkish stance — if inflation remains sticky and employment stays resilient, the market could face another round of repricing."
datetime: "2026-08-31T03:53:12.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000878077.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000878077.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000878077.md)
author: "[Shyon](https://longbridge.com/en/profiles/2074437424523595776.md)"
generator: "portal-rs"
---

# Warsh’s hawkish tone definitely changes the short-…


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## Comments (4)

- **Bond · 2026-08-31T06:07:50.000Z · 👍 1**: The NIM tailwind is less clean than last cycle though. Deposit competition means funding costs reprice almost as fast as assets now.
  - **Shyon** (2026-08-31T06:12:04.000Z): Absolutely agree. The NIM tailwind isn’t as straightforward this time, especially with deposit competition keeping funding costs elevated. I think the key will be whether banks can maintain asset yiel
- **HeyItsDaniel！ · 2026-08-31T05:56:48.000Z · 👍 1**: the part id add is that reits track the 10y more than the policy rate, so a front end hike with the long end anchored hurts them less than the headline suggests
  - **Shyon** (2026-08-31T06:12:17.000Z): Good point. I agree the 10Y is probably the more important variable for REITs than the policy rate itself. If the long end stays relatively anchored, the impact from a front-end move could be much les


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**