美联储独立性受损或加大再通胀风险

Group 1 - The effectiveness of traditional monetary policy in suppressing inflation is being challenged, with increased risks of the U.S. economy entering a re-inflation phase due to the influence on the Federal Reserve's independence [1] - The performance of the CSI Artificial Intelligence Theme Index has garnered market attention, achieving a total return of 63.28% from January 1, 2020, to September 5, 2025, with an annualized return of 15.14% [1] - The market focus is shifting from "mobile internet+" to "artificial intelligence+", indicating potential upward space despite current market activity being below historical peaks [2] Group 2 - In the land market, major real estate companies' total land acquisition reached 449.8 billion yuan from January to August 2025, a year-on-year increase of 63.48%, although still below levels from 2022 and 2023 [3] - The export growth to ASEAN and the EU has shown an upward trend, with high growth in integrated circuits and ship exports, despite a slight overall weakening in exports [3] - The banking sector is facing significant pressure on certificate of deposit supply, with weak credit issuance and reduced government bond supply, leading to low asset utilization [3]