In the past 12 months, global central banks have cut interest rates 168 times, and the loose liquidity has supported the rise of gold, cryptocurrencies, and stocks. However, recent strong U.S. macro data (such as new home sales hitting a three-year high) indicates that the economy does not need to cut rates twice before the end of the year; the recent rebound in the dollar, yields, and oil prices has triggered a "healthy correction" in stocks, cryptocurrencies, and gold.