Core Viewpoint - The article discusses the diminishing returns of news and rumors in the market, emphasizing that the impact of the same news decreases significantly after the first and second announcements, leading to a near-zero or even negative effect on the third and subsequent announcements [1]. Group 1: Market Conditions - The central bank conducted a net injection of 364.7 billion yuan through a 7-day reverse repurchase operation, with 161.2 billion yuan maturing today, indicating a balanced and slightly loose funding environment [2]. - The interbank funding rates remained stable, with DR001 around 1.37% and DR007 around 1.70% [2]. - The 10-year government bond yield fluctuated around 1.65%, with a monthly range of less than 5 basis points, reflecting a stable market sentiment [5]. Group 2: Economic Indicators - Industrial enterprise profit data for January to May showed a significant decline, with profit growth dropping to -9.1%, indicating worsening profit margins and collection periods [5]. - The article highlights the need for structural reforms to boost consumer confidence rather than merely preparing for potential external troubles, as suggested by a Cornell University professor [5]. Group 3: Investor Sentiment - A survey indicated that 70% of investors expect the 10-year government bond yield to reach a new low within the year, driven by the established tone of "moderate easing" [5]. - The market sentiment was influenced by the weak industrial profit data and a declining stock market, leading to fluctuations in bond market rates [4][5].