Group 1 - The core viewpoint is to "look at stocks and then bonds," indicating that stock market performance should be assessed before making judgments on bonds [2][4] - The current economic state is described as "weak but not collapsing," with policies providing support but not fully lifting the economy, leading to limited downward pressure on corporate profits [2][3] - Inflation is expected to remain low, with CPI and PPI readings unlikely to hit new lows, and a risk of CPI not turning positive in the first half of the year due to weak price increases [2][3] Group 2 - The analysis of stock and bond markets indicates a competitive relationship, where a bull market in stocks could lead to a bear market in bonds, and vice versa [4][5] - The likelihood of a broad-based bull market is low, but there is a significant chance for a "technology sector rally," driven by high growth rates in the information transmission industry [5][6] - The economic environment is favorable for technology stocks, with fiscal spending growth matching nominal GDP growth, creating a conducive atmosphere for tech industry development [6][7] Group 3 - The bond market has likely passed its most severe adjustment phase, with current interest rates challenging the monetary policy framework, and the potential for new investment opportunities in bonds contingent on changes in economic conditions [8][10] - The focus on the second quarter's economic uncertainty suggests that defensive high-dividend sectors and elastic stocks may yield short-term gains, while the bond market could react to expectations of monetary easing [9][10] - The overall asset conclusion indicates a consensus on the technology sector's growth potential, with expectations that Hong Kong stocks may outperform A-shares, and bond investments will primarily focus on yield rather than capital appreciation unless significant economic changes occur [10]