Core Viewpoint - The recent adjustment of performance benchmarks for bank wealth management products reflects a response to market interest rate changes, indicating a new wave of adjustments in the banking wealth management market following the release of news about interest rate cuts [1][2]. Group 1: Adjustments in Performance Benchmarks - Multiple banks and wealth management subsidiaries have announced reductions in the performance benchmarks of their products, with some adjustments exceeding 100 basis points and benchmarks falling below 2% [1]. - For instance, Xinyin Wealth Management adjusted the performance benchmark of its "Tiantian Wanlibao" product from an annualized range of 2.10%-4.05% to 1.50%-2.50% [1]. - Approximately 150 bank wealth management products have adjusted their performance benchmarks since May 7, 2025, indicating a widespread trend in the industry [3]. Group 2: Market Scale and Trends - The total scale of the bank wealth management market has decreased by 0.81 trillion yuan compared to the end of last year, with a current scale of approximately 29.14 trillion yuan [3]. - The industry is facing a dilemma of expanding scale while experiencing shrinking income, as continuous reductions in deposit rates have led many low-volatility wealth management products to be positioned as substitutes for deposits [3]. Group 3: Investor Response and Fee Adjustments - Investors are advised to adapt to the changing market environment by adjusting their investment return expectations and considering their investment capabilities and experiences [4]. - Following the benchmark adjustments, many wealth management institutions have initiated a wave of fee reductions to enhance product attractiveness and signal shared interests with clients [5]. - For example, Jiaoyin Wealth Management announced a reduction in the sales fee rate for one of its products from 0.20% to 0.10% per year for a three-month period [5].