#特朗普暂停新关税 , but there is still the Federal Reserve meeting ahead, and the key is still to see 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 focused on 3, and this is the first time in recent years that the deficit rate has been raised. To explain, this means the government is willing to take responsibility, which means it is willing to inject liquidity.

Second, the inflation data is set at 2%. Previously, it was 3, but now the CPI every month is around 0.x, setting a target of 3 is 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. It is a very significant positive development.

Third, issuing 1.3 trillion special government bonds, which is slightly less than market expectations, but there is a point worth noting: this time, 500 billion was issued to support state-owned large commercial banks to replenish capital.

There are rumors of saving the banks, and this wave has landed. Why do banks, which make such large profits every day, still need to issue bonds? Because although the banks are making money, they also bear the huge risk of real estate. Saving the real estate sector is too difficult, so it is better to support the banks as a backstop.