Recently, the FOMO sentiment in the market has been quite severe. In the past month, the returns of US and A-share accounts have exceeded the total returns of the first half of this year, which is really exaggerated! I personally think that the market should hold on until the end of the China US talks! However, the macroeconomic situation is worrying. As the leading indicator of European interest rates, the yield of British treasury bond bonds has worsened. The 30-year British treasury bond bond interest rate reached the highest 5.81%, a new high since 1998! Data shows that during the 2021-2023 interest rate hike cycle, the Bank of England often takes action ahead of the European Central Bank, and currently the entire Europe is moving towards a typical stagflation trend. As the US CPI data on Tuesday exceeded expectations, investment banks estimated that the probability of the Federal Reserve cutting interest rates this year was basically zero, and postponed their rate cut predictions to around mid-27. And the 10-year US Treasury yield is also about to break through this year's new high, approaching the risk warning line of 4.5%, so we need to be cautious ⚠️