Group 1 - The core viewpoint is that expectations of liquidity easing are driving an increase in global market risk appetite, with strong performances in AH shares and US stocks, while bond market interest rates are declining [1] - Market attention is focused on three main clues: the impact of tariffs on US inflation, the potential reversal of the "Goldilocks" narrative due to a slowdown in US economic data, and the pricing window for domestic policy expectations [1] - Upcoming events such as the China-US tariff negotiations and the US July CPI data are highlighted as key focal points for the market [1] Group 2 - Global commodity prices are showing divergence, with gold and copper prices rebounding while crude oil is experiencing a pullback [1] - With the implementation of livelihood policies, consumer spending is expected to receive support [1] - Statements from Federal Reserve officials and inflation data will influence future interest rate and exchange rate trends [1]