It is a consensus that the real estate market in big countries is in a downward channel. The stimulus policy reflects the rebound in the transaction volume of second-hand houses, but it is noted that the rental-to-sale ratio is still low and the pressure on local fiscal debt is still relatively large. Institutions are talking about other things, but the elephant in the room will explode sooner or later. I don’t think there is any opportunity to buy at the bottom. Pay attention to the new actions of Vanke Longfor.
There is a new controversy about whether to roll or not in the automobile field, but as long as there are people rolling, there will be downward pressure on prices. The production capacity is not excessive, but it is also quite abundant. The extreme right is rising in Europe. Is the domestic market saturated? How to open up the overseas market? Pay attention to the progress of Tesla's driverless driving.
The interest rate curve reflects the market's pessimism about the future. The 50-year yield is lower than the 30-year. In the long season, there will always be a group of people who sink with structural problems.
Optimize asset allocation in an asset shortage environment and go overseas first. The currency circle is at least half of the overseas exposure.
