This week the market will be on high alert—three major data releases in succession, any one of which could trigger a big wave.

First, the US November employment report. The figures like job numbers and unemployment rate are not just economic indicators; they directly influence the Fed’s rate hike expectations. If the data exceeds expectations, hawkish sentiment will intensify; if it’s weak, the market will start betting on rate cuts, and this shift in expectations can have a direct impact on all risk assets.

Next is the November CPI inflation data. This is currently the most sensitive nerve in the market. Is inflation still high? Then the liquidity environment for next year will need to stay tight. Has inflation significantly retreated? That opens up room for policy easing. The crypto market is especially sensitive to such liquidity changes because expectations of easing are a major driver of market trends.

The third is the annual rebalancing day for major indices. The S&P 500, Nasdaq, and other mainstream indices will be adjusting their components on Friday. Don’t underestimate this event—passive funds tracking these indices need to rebalance on a large scale, which creates predictable but powerful capital flows. Market liquidity can experience sharp fluctuations at this point.

In summary: employment and inflation data reshape policy expectations, index rebalancing brings capital tides, and the combination of these forces can cause volatility to spike rapidly. Whether you’re tracking US stocks, cryptocurrencies, or other high-risk assets, portfolio management and risk control this week need to be more cautious—don’t be caught off guard by sudden liquidity shocks.