Core Viewpoint - The U.S. stock market bull run still has room to grow, with no signs of excessive optimism or irrational exuberance among investors [1] Group 1: Market Sentiment - There is a strong earnings outlook, indicating that the market has not reached a turning point [1] - Wealthy clients are holding idle cash and focusing on structured products to maintain downside protection when entering the market [1] Group 2: Business Focus - The company is fully committed to its Citigold business in Asia, targeting clients with approximately $200,000 in assets, and has no plans to sell this business [1] Group 3: Growth Drivers - Clients from China are driving growth in the company's major Asian wealth centers, Hong Kong and Singapore [1] - The vitality of China's economic development observed during recent visits to Beijing and Shanghai is unprecedented compared to the pre-COVID era [1]

Core Viewpoint - The U.S. stock market bull run still has room for growth, as there is no excessive optimism or irrational exuberance among investors [1] Group 1: Market Sentiment - The market has not reached a turning point, with strong earnings expectations still prevailing [1] - Wealthy clients are holding idle cash and focusing on structured products to maintain downside protection when entering the market [1] Group 2: Business Focus - The company is fully committed to its Citigold business in Asia, targeting clients with approximately $200,000 in assets, with no plans to sell this business [1] - Growth in Hong Kong and Singapore is significantly driven by clients from China, showcasing a robust economic recovery post-COVID-19 [1] Group 3: Outlook on China - The company has a positive outlook on its business in China, noting a vitality in economic development that has not been seen since before the pandemic [1]