#SEC推迟多个现货ETF审批 , but next there will be a Federal Reserve meeting, and the key will still be Powell's attitude in his speech.

Let’s talk about our situation, there are a few core data points:

First, the deficit rate is set at 4%. Previously, we mainly focused on 3, marking the first time in recent years that the deficit rate has been increased. To explain, this means the government is willing to take responsibility, which means they are willing to inject liquidity.

Second, the inflation data is set at 2%. In the past, it was 3, but now the monthly CPI is in the 0s, making the target of 3 too far off.

This adjustment of the target is a positive sign, indicating that the higher-ups have recognized the problem and are facing it. A very significant positive.

Third, the issuance of 1.3 trillion in special national bonds, which is slightly less than the market expected, but there is one point worth noting, which is that this time 500 billion was issued to support large state-owned commercial banks in replenishing capital.

There are rumors that they will rescue the banks, and this wave has landed. Why are banks, which make such large profits every day, still being issued bonds? Because although banks are profitable, they also bear the huge risk of real estate. Rescuing the real estate sector is too difficult, so it’s better to support the banks as a backup.