This week witnessed a major shift in both domestic and international policy landscapes. I. U.S. Policy: Trumponomics 2.0 Taking Shape The economic doctrine of the current Trump administration is becoming increasingly clear: Tax cuts at home, tariffs abroad, lower interest…
Since mid-June, we have liquidated all global assets except gold. Global capital markets have undergone a pivotal shift this month. Non-dollar equity markets—particularly in Europe—have experienced a valuation correction, while U.S. markets have remained relatively stable. Oil prices have surged…
There are various approaches to studying the progress of China’s financial reform. Some studies focus on changes in China’s social financing data to illustrate the process of financial market liberalization. Others examine the relationship between M2 and GDP to analyze…
Since last week, we have observed a persistent rise in U.S. and Japanese government bond yields, alongside a noticeable loss of upward momentum in both the Nasdaq and Nikkei indices. In response, we have fully exited our positions in U.S.…
Since our last report a month ago, global capital markets have undergone dramatic changes. The Nasdaq and Dow Jones indices have surged sharply, U.S. Treasury yields have trended higher amid volatility, gold spiked before retreating, and crude oil prices have…
The newly announced tariffs have significantly exceeded market expectations. Based on prior assessments, markets generally estimated tariff levels by correlating trade imbalances with tariff intensity. However, the current measures reveal no consistent standard and are filled with aggressive and threatening…
Author: Weihan Luo, Zhen Zhang About this book Preface Each young individual holds a unique perspective on the future world, and these expectations shape every major decision in their lives—from career choices and marriage to homeownership and car purchases. While…
With the conclusion of the Two Sessions this week, China’s stock markets—both A-shares and the Hang Seng Index—have demonstrated resilience over the past two weeks. Although they have not exhibited a sharp rally, they have emerged as a safe haven…
Since the release of the December PMI data, China’s stock market has experienced a sharp pullback over three consecutive trading days, stirring the nerves of market participants. Following the Politburo meeting on September 26, macroeconomic data showed an upward trend…
In the past two weeks, global capital markets have experienced modest volatility. Europe’s markets have been led by Germany, which surged ahead, while the Nasdaq continued to lead global gains. Japan maintained a certain degree of stability, while gold saw…
