The U.S. Supreme Court is about to deliver a final ruling on Trump's tariff policies. Behind this judicial battle lies a potential liquidity disaster.

On the surface, it appears to be a bullish policy signal, but underlying currents are swirling. When the legal decision is finalized, the market will realize it has stepped into a trap.

**The True Scale of the Fiscal Gap**

The government has already projected approximately $600 billion in tariff revenue, which has been incorporated into the fiscal budget. However, if the Supreme Court overturns these tariffs, the losses will far exceed the apparent figures. Broken commercial contracts, supply chain lawsuits, retroactive refunds... these chain reactions could push the shortfall into the trillions.

**The Vicious Cycle of Debt Issuance**

The Treasury has no choice but to urgently issue massive amounts of bonds in a short period to fill the revenue black hole. As bond supply surges, yields will plummet rapidly, causing severe disruptions to the entire asset allocation landscape.

**Confusion from Refund Lawsuits**

Over 900 lawsuits are already queued in the legal system. If courts rule in favor of claimants, these refunds will flood out like a dam breaking, instantly depleting government liquidity and triggering a series of chain reactions in the funding ecosystem.

**Synchronous Asset Flight**

Under this fiscal shock, investors won't smartly "shift" funds elsewhere—they will collectively withdraw. Stocks, bonds, cryptocurrencies—all will become assets for sale. The market will experience a true liquidity crunch, not just a price adjustment.

No one has yet fully accounted for the power of this sudden tightening. What we see is not a rebound opportunity, but a textbook-level fiscal shock about to unfold.