According to Jinshi Data, CICC research report pointed out that the global market has recently suffered a liquidity shock, and all kinds of assets such as overseas stocks, copper and oil have fallen across the board. Coupled with the decline in inflation expectations, gold may be "wrongly killed", which provides an opportunity to increase positions.

For risky assets, overseas stock markets tend to fall in the early stages of every recession, and expectations of rate cuts are unlikely to offset recessionary pressures. In addition, current stock market valuations are high. Against the backdrop of significantly higher market volatility, we recommend a neutral to cautious approach to overseas stocks, and patiently wait for the Fed's policy support before increasing your layout.