[Institution: Significant Discrepancies Among CPI Report Components Are Actually Positive] According to a report by Jinse Finance, Brad Conger, Chief Investment Officer at Hirtle Callaghan & Co., stated that the January CPI report showed significant discrepancies among its components. For us, this divergence is good news. The lack of a unified trend indicates that the economy is pricing shortages and surpluses on an individual basis. This is not an inflationary world, and in the long run, artificial intelligence is a deflationary force. We are overweight on duration in fixed income and overweight on interest rate-sensitive sectors such as homebuilders and real estate.