Group 1 - The market is sensitive to seasonal fluctuations in liquidity during June, with concerns about cross-quarter funding pressures potentially leading to increased interest rate volatility [1] - The central bank's recent operations indicate a clear intention to maintain reasonable liquidity, conducting two reverse repurchase operations this month to alleviate concerns about a "liquidity crunch" [1] - Short- and medium-term bonds have performed well, leading to a decline in long-term interest rates, while bond funds are adopting a strategy of extending duration to lock in higher yields during the interest rate downcycle [1] Group 2 - Future market developments will depend on several factors, including the actual performance of funding rates in the last few trading days of June and early July, which will validate the central bank's supportive measures [2] - The market will also monitor whether institutions continue to extend duration and if the consensus expectations can be sustained [2] - The timing of the central bank's announcement to restart bond purchases is crucial; if short-term benefits do not materialize as expected, the bond market may face a correction similar to the first quarter [2]

金牛，一向为人喜欢，尤其期待股市大涨的人们。纽约华尔街的金牛，肌肉健硕，鼻孔仿佛喷着怒气， 随时准备发起战斗冲击；上海亦有金牛一尊，立于外滩金融广场。这两尊金牛，都是美籍意大利裔雕塑 家阿图罗·迪·莫蒂卡的作品。 两尊金牛，都在繁华都市里。牛，本为乡野物，却上黄金台。如今，全世界都接受了以"金牛"为金融业 的标志。在中国，还有一尊"金牛"，比这两尊金牛雕塑的历史更长、影响更大，那就是成都市的金牛 区。 巧合的是，世界上最早纸币——交子出现的地方，就是在成都。 唐代之后，五代十国近百年的时间里，战乱频仍，"城头变幻大王旗"，社会经济与人民生活遭受巨大破 坏，然川人运气稍佳，遇到了王建。 王建，五代十国时期前蜀政权创立者。朱温篡唐后，王建在成都自立为帝。王建早年行为无赖，以杀 驴、偷牛、贩卖私盐等为业，乡人称"贼王八"。然称帝后，减轻赋税，招募流亡百姓，大力恢复和发展 生产，使前蜀成为当时战乱之中社会最稳定，国力最强的政权之一，成都也成为当时繁华的都市。 司马光《资治通鉴》云："蜀主虽目不知书，好与书生谈论，粗晓其理。是时唐衣冠之族多避乱在蜀， 蜀主礼而用之，使修举故事，故其典章文物有唐之遗风"。在王建的治理下， ...