投顾周刊：商务部等九部门发布扩大服务消费19条举措

Group 1 - The Ministry of Commerce and nine other departments released 19 measures to expand service consumption, focusing on high-quality service supply and promoting consumption activities [1] - In August, new home prices in first-tier cities decreased by 0.1% month-on-month, while second-tier cities saw a 0.3% decline, indicating a continued adjustment in the real estate market with some signs of marginal improvement [1] - Local state-owned capital merger funds are emerging rapidly, aligning with national strategic directions to promote industrial upgrades and regional transformations [2] Group 2 - The recent reform of fund fee structures may impact short-term bond funds, prompting wealth management companies to explore alternative strategies such as direct bond trading and investing in bond ETFs [2] - The Federal Reserve lowered interest rates by 25 basis points to a range of 4.00%-4.25%, marking the first rate cut in nine months, with expectations of further cuts due to rising unemployment risks [3] - SoftBank plans to lay off nearly 20% of its Vision Fund team, reallocating resources towards AI initiatives, including a $500 billion Stargate project [3] Group 3 - Global stock markets mostly rose in the past week, with notable gains in the Chinese market, while U.S. indices also showed positive performance [6] - The bond market exhibited mixed results, with varying movements in yields across different maturities, reflecting a complex economic environment [7] - Recent trends in the commodity market showed a slight decline in oil prices, while gold and silver prices increased [12] Group 4 - The bank wealth management market is dominated by fixed-income products, with a significant preference for low-risk investments, reflecting current market conditions [12] - The issuance of new wealth management products has been led by bank wealth management subsidiaries, indicating their strong market position [12] - The overall performance of bank wealth management products has been supported by low inflation rates and a favorable regulatory environment [12]