According to the CITIC Securities Research Report, the US CPI is expected to rise to 2.8% year on year at the end of the year, and the core CPI is 3.2% year on year. US food inflation may face phased pressure, and the upward risk of US energy inflation is limited. The month-on-month growth rate of US core commodity inflation may fluctuate around zero growth rate, and there may be some stickiness in core service items. The probability of cutting interest rates by 25 basis points in November is high, and there is still room to cut interest rates by 50 bps during the year. In the short term, the risk of rising interest rates on short-term US bonds is limited, and interest rates on long-term US bonds may fluctuate widely.

According to the CITIC Securities Research Report, the US CPI is expected to rise to 2.8% year on year at the end of the year, and the core CPI is 3.2% year on year. US food inflation may face phased pressure, and the upward risk of US energy inflation is limited. The month-on-month growth rate of US core commodity inflation may fluctuate around zero growth rate, and there may be some stickiness in core service items. The probability of cutting interest rates by 25 basis points in November is high, and there is still room to cut interest rates by 50 bps during the year. In the short term, the risk of rising interest rates on short-term US bonds is limited, and interest rates on long-term US bonds may fluctuate widely.