楼市大事，听老司基说。 就在昨天下午，重庆某主流房产交易平台的二手房成交价查询功能，悄然消失。 曾经能一目了然的二手房历史成交价，被"暂无价格"取代。 南/低楼层/17 层/91.18㎡ 签约日期:2025.10 暂无成交价 咨询成交1 WH 南/低楼层/17层/99.13㎡ 签约日期: 2025.10 暂无成交价 咨询成交' 中交中央公园美璟 3室2厅 北/低楼层/17层/99㎡ 签约日期:2025.04 暂无成交价 对于成交价无法显示，老司基也第一时间问询客服，得到的回复是：因系统更新迭代，无法直接呈现。 对于官方的陈述，能够确定的是，房产交易中"价格对标"模式将告一段落。 与此同时，老司基身边的朋友对此事也是展开激烈讨论。有支持的，也有说体验感不好的。 老司基个人来看，这是一次深刻的市场逻辑重构。 当市场下跌时，购房者"买涨不买跌"的心理会延缓交易周期和效率。隐藏成交价有助于减少这种"比价效应"，为市场注入更多稳定性。 其次，这一变化也带来了显著的问题。 最直接的就是加剧信息不对称，买卖双方均面临难以获取真实成交价参考的困境，议价能力或被削弱。 从行业角度看，此举可能加剧信息垄断，阻碍价格发现机制。当价 ...

Core Viewpoint - The global stock market is experiencing a paradox where bad economic news leads to positive market reactions, driven by strong expectations of future policy easing [1][2]. Group 1: Unusual Phenomenon - Bad economic data is now interpreted as good news for the market, as it increases the likelihood of central banks easing monetary policy [2]. - Examples include: - Weak U.S. non-farm payroll data leading to a stock market surge due to increased rate cut probabilities [2]. - A country's CPI inflation data declining unexpectedly, resulting in a stock market rise as it suggests potential early rate cuts [2]. - Geopolitical risks causing both gold and Bitcoin to rise, driven by heightened risk aversion and expectations of central bank liquidity [2]. Group 2: Deep Analysis - There is a fundamental shift in three core logics: - Central bank policy priorities have shifted from "anti-inflation" to "anti-recession," indicating a readiness to ease when recession risks outweigh inflation concerns [3]. - Liquidity expectations are now overshadowing corporate earnings fundamentals, leading to higher asset valuations even amid declining profits [4]. - Institutional investors are strategically positioning themselves to benefit from anticipated policy shifts rather than waiting for economic data to improve [5]. Group 3: UNFX Strategy Perspective - Different investor styles require distinct strategies: - Trend followers should respect market trends and avoid countering the prevailing market sentiment, even if valuations seem unreasonable [6]. - Value investors should maintain focus on individual stocks with stable cash flows and reasonable valuations, without overreacting to short-term market fluctuations [8]. - Ordinary investors are advised to avoid linear extrapolation of current market logic and remain cautious of potential policy disappointments that could lead to market reversals [9][10].