According to Jinshi.com, the latest research report of Shenwan Hongyuan pointed out that there are still many uncertain risks in the US CPI inflation, such as rental inflation, oil prices and other factors, which may make the market's expectations for the Fed's interest rate cut more seesawed in the future, exacerbating the volatility of 10-year US Treasury bond interest rates. If the US non-agricultural, CPI and consumption data released next month are weaker than market expectations, the expectation of interest rate cuts may also make a comeback. For the US dollar index, although European industrial production has rebounded slightly, it is still far weaker than the Fed, which can also support the high volatility of the US dollar index.