宏观大类日报：政治局会议继续提振市场预期

Group 1: Monetary Policy and Economic Outlook - The Federal Reserve unexpectedly cut interest rates by 50 basis points on September 18, indicating ongoing risks to the U.S. economy[2] - The People's Bank of China announced a 0.5 percentage point reduction in the reserve requirement ratio, injecting approximately 1 trillion yuan into the financial market[2] - The Central Political Bureau of China emphasized the need for effective implementation of existing policies and the introduction of new measures to support economic growth[5] Group 2: Market Trends and Commodity Analysis - Gold is expected to maintain a bullish trend, particularly during the interest rate cut cycle, outperforming other commodities[2] - The Shanghai Composite Index rebounded strongly, recovering the 3000-point mark with a nearly 10% increase this week[2] - The black metal sector showed short-term price rebounds supported by policy adjustments, although demand recovery remains slow[2] Group 3: Risks and Considerations - Geopolitical risks, particularly in the energy sector, pose potential upward pressure on prices[4] - There are concerns regarding the global economy's unexpected downturn, which could negatively impact risk assets[4] - The market is advised to monitor the sustainability of recent policies and the potential for continued fiscal easing alongside monetary policy[2]