刚刚，利好突现！

Core Viewpoint - The recent CPI and PPI data indicate a shift in market sentiment, alleviating concerns about deflation and supporting equity assets while negatively impacting the bond market [2][3][5]. Economic Data Summary - CPI data shows a month-on-month increase, with a core CPI rise of 1.2% year-on-year, indicating growing consumer demand [4][5]. - PPI has increased by 0.2% month-on-month and has risen for three consecutive months, with a year-on-year decline of 1.9% [5]. Market Performance Summary - A-shares experienced a significant rally, with major indices like the Shanghai Composite Index breaking the 4100-point mark for the first time in a decade [2][4]. - The A50 index showed volatility but ultimately surged, reflecting positive market sentiment driven by favorable economic data [4]. Financing and Liquidity Summary - The financing balance in the Shanghai and Shenzhen stock exchanges has increased, indicating a positive liquidity environment that supports market growth [6]. - Analysts suggest that the current liquidity and exchange rate conditions are more favorable than in previous years, potentially leading to a strong start for the A-share market [6]. Policy Outlook Summary - Expectations for potential interest rate cuts and reserve requirement ratio reductions are rising, with analysts predicting a window for such actions in the first half of 2026 [7]. - The current economic environment, including a strong RMB and improved macroeconomic expectations, is seen as conducive to continued market performance [7].