No Interest Rate Cut If Inflation Isn't Controlled…Jackson Hole Hints at Further Tightening | Korea's Growth Rate at 3.3% Even With Conservative View…Major Institutions Forecast Higher | Kwon Soon-woo, 3PRO TV Reporting Team Leader [NEWS3]

Summary

Kwon Soon-woo reviews the hawkish Jackson Hole message and argues the market is treating it as manageable, with long-term Treasury yield concerns contained. He discusses Korea's aggressive growth forecast upgrades and flags Japan as more vulnerable to macro stress. He also updates two AI-related Korean supply chains: Samsung Electro-Mechanics' MLCC price hikes and the CCL/substrate trio's strong Nvidia-linked growth.

• Jackson Hole leaned hawkish and hinted at further tightening, but markets took it as manageable.
• Short-term Treasury yields rose more than long-term yields, and long-term Treasury yield concerns appear contained.
• Korea's GDP growth forecasts are being sharply upgraded, with the 3.3% forecast viewed as conservative.
• Japan is flagged as more worrisome than Korea because of weak growth, rising inflation, and limited ability to raise rates.
• Samsung Electro-Mechanics plans Q4 MLCC price increases for both general-purpose and AI-server parts.
• Korean AI CCL/substrate suppliers show exports and revenues rising about 50% year over year.