Guotai Haitong: With significant internal divisions within the Federal Reserve system, the threshold for a rate hike by the Federal Reserve this year remains high.

Guotai Haitong's research report pointed out that in June, the U.S. unemployment rate further declined with a decrease in labor force participation rate, and non-farm payroll growth slowed down and fell short of market expectations, partially easing market concerns about the Fed hiking interest rates. Guotai Haitong believes that with the significant drop in oil prices and large internal disagreements within the Fed, the threshold for the Fed to raise interest rates within the year remains high, and there may be a further easing of concerns about rate hikes later in the year.