#美联储FOMC会议 , but there will be a Federal Reserve meeting next, the key point is to watch Powell's speech attitude.

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

First, the deficit rate is set at 4%. Previously, it was mainly 3, marking the first increase in the deficit rate in recent years. To explain, this represents the government's willingness to take responsibility, meaning they are willing to inject liquidity.

Second, the inflation target is set at 2%. Previously, it was 3, but now the monthly CPI is around 0.x, making the 3 target too far-fetched.

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

Third, the issuance of 1.3 trillion in special national bonds, which is slightly less than market expectations, but there is one point worth noting: this time they issued 500 billion 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 do banks, which are making large profits every day, still need to issue bonds? Because while banks are making money, they are also burdened with the huge risk from real estate. Rescuing real estate is too difficult, so it is better to protect the banks as a backup.