市场有望回归冷静，配置着眼轮动接力

Group 1: Market Outlook - The overall market expectations are converging, and a return to calm is anticipated, with the market likely to focus on fundamentals and new policy cycles [1][7][9] - The announcement of a 10 trillion yuan debt resolution plan by the Standing Committee of the National People's Congress is expected to alleviate local government pressure and boost broad fiscal spending, thereby promoting economic recovery [1][8] - The election of Trump as the U.S. president and the Fed's decision to cut rates by 25 basis points in November align with market expectations, leading to a reduction in market divergence and external risks [1][9][11] Group 2: Industry Allocation - The growth sector is experiencing overheating, with signs of rotation emerging in consumer goods that are either recovering or have potential policy support, such as automobiles, home appliances, pharmaceuticals, and agriculture [1][20] - The growth sector has shown significant volatility, with technology stocks leading the gains but also facing substantial adjustment risks due to high valuations [1][13][15] - Non-bank financial sectors, particularly insurance, are showing strong performance and improvement in profitability, making them attractive for investment [1][16][19]