策略周报：节前情绪低迷，量价再临冰点

Group 1 - The report highlights a low market sentiment with the Shanghai Composite Index falling below 2800, indicating a need for policy signals to improve the situation [1][4] - The A-share market experienced a significant decline in trading volume, dropping to 519.3 billion yuan, a decrease of 67.5 billion yuan from the previous week, reflecting a continued lack of market activity [4][12] - The report notes that the overall market is characterized by weak performance in large-cap stocks and a lack of sustainable opportunities across various sectors, leading to a persistent loss effect [4][13] Group 2 - The report indicates that U.S. inflation data was slightly stronger than expected, reducing concerns about an economic recession, while the domestic economic inflation data remains low, increasing the necessity for policy measures [4][15] - A significant increase in A-share risk premium was observed, reaching a new high for the year, as the equity market remains weak and the bond market rises [8][9] - The report emphasizes the importance of upcoming policy signals, particularly the LPR quotation on September 20, which could influence market sentiment amid expectations of potential interest rate cuts and fiscal measures [15]