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<p>Expectations of the Federal Reserve's interest rate cuts VS the reality of stubborn inflation, moderate tariff policy expectations VS Trump's tough statements, expensive U.S. stocks VS a weak U.S. economy</p>

- Deutsche Bank's macro strategist Henry Allen identifies five key "misalignments" in global financial markets that may indicate future adjustments.  
- These include contradictions between expected Fed rate cuts and persistent inflation, diverging asset performances in the UK, underestimations of Trump's tariff policies, high U.S. stock valuations amid low economic growth, and Japan's low bond yields despite rising inflation.  
- The report suggests that these misalignments reflect market overoptimism and could lead to increased volatility and policy shifts in the future.

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