According to the CITIC Construction Investment Research Report, not only did US equity and bond remittances plummet, but the extent of deterioration is rare in history. There are three types of US dollar assets that are at the bottom of the stage. Which one is more appropriate to get involved in now? For the second quarter, the recommended ranking is US debt > US dollar = US stocks. First, looking at the trend in subsequent quarters similar to the market environment in history, the certainty that US bonds will close is the highest, and the variance between US stocks and the US dollar is too large. Second, after the tariffs are implemented, the US economy will fall back to the main line, favoring safe-haven assets such as US bonds, while US stocks may be dragged down by declining profits. Unless most tariffs are exempted in the future, the negative impact of tariffs on the US and the global economy will still be significant. In the second quarter, weakening fundamentals will be the most certain main line. The logic of safe-haven assets such as US bonds is relatively smooth. The US dollar is expected to remain relatively strong, while US stocks may face a drag on profits. If the economic downturn exceeds expectations, a second bottoming out is not ruled out. In the second half of the year, with the easing of trade conflicts, the implementation of US tax cuts, and a shift in European finance, the global economy may bottom out and rebound. US stocks regained dominance, US debt fluctuated, and the dollar center fell sharply.

According to the CITIC Construction Investment Research Report, not only did US equity and bond remittances plummet, but the extent of deterioration is rare in history. There are three types of US dollar assets that are at the bottom of the stage. Which one is more appropriate to get involved in now? For the second quarter, the recommended ranking is US debt > US dollar = US stocks. First, looking at the trend in subsequent quarters similar to the market environment in history, the certainty that US bonds will close is the highest, and the variance between US stocks and the US dollar is too large. Second, after the tariffs are implemented, the US economy will fall back to the main line, favoring safe-haven assets such as US bonds, while US stocks may be dragged down by declining profits. Unless most tariffs are exempted in the future, the negative impact of tariffs on the US and the global economy will still be significant. In the second quarter, weakening fundamentals will be the most certain main line. The logic of safe-haven assets such as US bonds is relatively smooth. The US dollar is expected to remain relatively strong, while US stocks may face a drag on profits. If the economic downturn exceeds expectations, a second bottoming out is not ruled out. In the second half of the year, with the easing of trade conflicts, the implementation of US tax cuts, and a shift in European finance, the global economy may bottom out and rebound. US stocks regained dominance, US debt fluctuated, and the dollar center fell sharply.