11月23日，和讯投顾刘阳表示，中国股市回落，在宏观经济数据表现都比较稳定的情况下，这并不是系 统性风险。根据老刘近17年专业机构经验去研判，回落只是短期的暂时的，更多的是外围行情，地缘以 及股指期货交割日，多重情绪叠加的情绪释放，释放的力度比平时大一些，技术上短期脱离上升轨道， 大量割肉盘离场，这种级别矩阵一旦修复，接下来的反弹的力度是巨大的。我们接着看周末消息面，美 股周四大阴线之后不超过一天，相关部门负责人立刻稳盘面稳预期。随后12月份美联储降息概率再次回 到50%以上，紧跟着周五美股向上修复，中概股反弹，另外周末又新批了16只硬科技类主题基金，当分 歧资金跑的时候，很多没赶上热乎饭的又来了。其实不管12月份美联储降不降息，从今年9月份开始， 加息缩表的周期已经结束了，接下来无非就是哪个季度货币投放多，哪个季度投放少的问题。下周老刘 判断是周线级别反弹行情。 ...

Group 1 - The FOMC meeting minutes indicate concerns about the vulnerability of the U.S. Treasury market, particularly regarding the intermediary capabilities of traders, the growing presence of hedge funds, and low market depth [1] - Participants noted that while regulatory capital levels remain sufficient, some banks are still susceptible to rising long-term yields and unrealized losses on related assets [1] - The recent passage of the "Stablecoin Innovation Act" by Congress mandates stablecoin issuers to hold dollar reserves on a 1:1 basis, which may increase demand for U.S. Treasury assets [1] Group 2 - As of August 12, the total U.S. national debt surpassed $37 trillion, resulting in a per capita debt burden of over $108,000 [2] - The U.S. government has been increasing its debt at an average rate of approximately $1 trillion every 100 days since the passage of the "Fiscal Responsibility Act" in June 2023 [2] - The "Debt Ceiling" established by Congress sets a maximum borrowing limit for the federal government, which needs to be raised or suspended to avoid government shutdowns and defaults [2] Group 3 - Concerns about the sustainability of U.S. debt have led to market apprehension, with major credit rating agencies downgrading the U.S. sovereign credit rating for the first time in history [3] - The FOMC members acknowledged that recent inflation indicators suggest a slowdown in economic activity during the first half of the year, with high uncertainty regarding the economic outlook [3] - Most committee members agreed to maintain the federal funds rate target range at 4.25% to 4.5%, despite some support for a 25 basis point rate cut to prevent further weakening of the labor market [3]