[Inflation Concerns Resurface, Fed Rate Cut Expectations Shift] Amid geopolitical tensions, U.S. inflation pressure has once again become the focus of market attention. Investors are reassessing the Federal Reserve's rate cut trajectory, with U.S. Treasury yields rising, overturning traditional safe-haven logic. Analysts generally believe that with soaring oil prices, the current core concern of the market has shifted from 'safe-haven' to 'inflation defense.' If the Middle East military conflict continues to disrupt crude oil supply, it will elevate U.S. inflation pressure, significantly constraining the Federal Reserve's monetary policy space and adding new uncertainties to the global economic outlook. (Shanghai Securities News)