To add some external context: China, the UK, and Japan are leading the way in selling US Treasury bonds, which is actually aimed at continuing to weaken the dollar and forcing the Federal Reserve to avoid cutting interest rates to keep the dollar index stable above 95. It's not that Japan, the UK, and we are standing together; it's just that the starting points are different, but the final goals from each of our interests happen to align. The comment section has limited space, so I can discuss this further when I have time. In short, considering the external pressure, I judge that an early interest rate cut is highly unlikely, and the small rally led by funds betting on a rate cut is also likely to come to an end. As for its safe-haven attributes, it only activates upon a significant drop.