According to Jinshi, the institutional investor index released by State Street Bank last month showed that institutional investors avoided risky assets in the stock, fixed income and foreign exchange markets in January as the prospect of an upcoming rate cut weakened. Institutional investors' new interest in risky assets stagnated in January. In the stock market, investors favored defensive and high-quality stocks rather than cyclical sectors; while in fixed income, they chose developed markets and core sovereign bonds. The foreign exchange market resumed buying of the US dollar.