短暂回调无需紧张政治局会议指明方向

Group 1 - The core viewpoint indicates that the A-share market experienced a pullback after a five-week rally, but this temporary adjustment does not signify the end of the current market trend. The market remains healthy with active trading and strong volume, as evidenced by an average daily trading volume exceeding 1.8 trillion [2][3][11] - The report highlights that the 730 Politburo meeting expressed a positive outlook on economic development in the first half of the year and provided guidance for the second half, emphasizing the need for continued macro policy support [3][12] - The report suggests that the technology sector, particularly related to the Nvidia supply chain, should be a focus for short-term investments, while the "anti-involution" theme and service consumption are expected to be key areas for medium to long-term investment [12][13] Group 2 - The bond market showed signs of stabilization due to the pullback in the equity market, which provided some funding support for bonds. However, the outlook for the bond market remains cautious as it is heavily influenced by the equity market's performance [4][5][35] - The commodity market faced a decline, with various categories experiencing a downturn. The report notes that without strong upward momentum in key commodities like oil and gold, the commodity market may struggle to regain its previous highs [6][38] - The report recommends maintaining a short-term allocation in gold while adopting a wait-and-see approach for the medium to long term regarding other commodities [40]