[Citi: It's Too Early to Declare the End of AI Trading] According to a report by Jinse Finance on June 26, Citigroup strategists stated that as corporate earnings remain strong and 'liquidity has not tightened enough to burst the bubble,' stocks may continue to rise. Dirk Willer wrote in the report that it is too early to say that artificial intelligence (AI) trading has ended. In the context of falling oil prices, this rotation toward Europe is likely to be short-lived. The report maintains an overweight position on the U.S. and emerging Asian markets, noting that a bull market typically ends with rising interest rates. Given that the Federal Reserve has not raised rates so far and its balance sheet is still expanding, we believe the bull market may remain intact.