[CITIC Securities: One of the core objectives of the Trump administration is to drive long-term interest rates downward through Federal Reserve personnel changes] Jin10 Data, January 31 - CITIC Securities' research report pointed out that this year, the Trump administration's domestic and foreign policies are expected to profoundly impact global markets. CITIC Securities believes that one of the core objectives of the Trump administration is to push long-term interest rates downward through Federal Reserve personnel changes and a series of measures, aiming to boost the traditional economy and support the midterm elections. If successful, this would be positive for global stock markets and commodities. However, its diplomatic actions, focused on domestic affairs and voter demands, may only have a pulse-like impact on major asset classes. The extent of fiscal deficit expansion remains uncertain, which is favorable for gold and non-ferrous metals. The outcome of the midterm elections is extremely important; despite Trump's efforts to gain an advantage, a Republican loss would pose short-term bearish risks to assets other than U.S. Treasury bonds.