CITIC Construction Investment published an article stating that the two A-share loans and ETF funds have gone from place to place, unfinished, but fluctuations have subsided, putting pressure on the return and selling pressure on the back-up of funds in the early stages or constraining the slope of the rebound. 10Y US bonds fluctuate at a high level of 4.7%, implying the dual factors of inflation and AI debt financing raising long-term interest rates; the US Treasury has increased treasury bond repurchases, showing that the policy is unwilling to hurt tight financial conditions and that AI and the overall economy, and the suppression of interest rates on equity is relatively manageable. At the strategic level, there is a bottom to the top, and the intention to back up the policy is clear, but incremental capital has yet to form a synergy. The characteristics of the stock game are obvious, and an upward breakthrough in the index requires stronger catalysis. The allocation level takes into account the economy and balance, and waits for the technology sector to clear up. The industry focuses on: AI, innovative drugs, non-ferrous materials, machinery, new energy, dividends, etc.

CITIC Construction Investment published an article stating that the two A-share loans and ETF funds have gone from place to place, unfinished, but fluctuations have subsided, putting pressure on the return and selling pressure on the back-up of funds in the early stages or constraining the slope of the rebound. 10Y US bonds fluctuate at a high level of 4.7%, implying the dual factors of inflation and AI debt financing raising long-term interest rates; the US Treasury has increased treasury bond repurchases, showing that the policy is unwilling to hurt tight financial conditions and that AI and the overall economy, and the suppression of interest rates on equity is relatively manageable. At the strategic level, there is a bottom to the top, and the intention to back up the policy is clear, but incremental capital has yet to form a synergy. The characteristics of the stock game are obvious, and an upward breakthrough in the index requires stronger catalysis. The allocation level takes into account the economy and balance, and waits for the technology sector to clear up. The industry focuses on: AI, innovative drugs, non-ferrous materials, machinery, new energy, dividends, etc.