July 31st Interest Conference PCE on July 31st Will the new tariffs on August 1st continue to be postponed August 1st unemployment rate&non farm employment August 1st Manufacturing PMI The interest rate curve has hardly fluctuated in the past month, and subsequent interest rate meetings will affect the short end of the interest rate curve. Tariff decisions will affect the long end of the interest rate curve, and the risk appetite of funds will change due to changes in the shape of the interest rate curve. The pace of interest rate cuts is still unclear, so we do not plan to blindly bet on data. Starting from this Monday, we will maintain positions in both altcoins and gold.