CITIC Securities: Expectation of loose global market liquidity boosts risk appetite.

According to CITIC Securities, the expectation of loose liquidity is driving up global market risk appetite, with A-share and US stock performance strong and bond market interest rates declining. The market is focused on three major clues: the impact of tariffs on US inflation, the possibility of a reversal in the "Golden Haired Girl" narrative of asset growth as US economic data falls, and the pricing window for domestic policy expectations. Next week, the Sino-U.S. trade talks and July CPI data in the United States will be the focus. Global commodities are diverging, with gold and copper prices rebounding and oil prices falling back. With the implementation of livelihood policies, consumption is expected to receive support. Statements from Federal Reserve officials and inflation data will influence the future trends of interest rates and exchange rates.