Important benefits: The signal of disguised interest rate reduction has arrived What is truly worth paying attention to in the market tonight is not just the slight increase in the three major US stock indices, but also the US Treasury Department's proactive "rescue of long-term bonds". The Ministry of Finance announced to directly raise the upper limit of a single repurchase of 10-30-year long-term treasury bond from $2 billion to at least $4 billion, at least doubling the size. After the announcement, the yield of long-term US bonds quickly fell back, while gold and US stocks simultaneously strengthened. (Reuters) This is not a Fed interest rate cut, but the market can fully understand it as a 'disguised interest rate cut/mini QE': Ministry of Finance repurchases long-term bonds → demand for long-term bonds increases → yield on long-term bonds decreases → marginal relaxation of financial conditions → pressure on risk asset valuation decreases. More importantly, the current 30-year US Treasury yield has already surged to a high since 2007, and the Treasury Department's expansion of buybacks at this time is essentially sending a very clear signal: The long-term interest rates are too high, and the fiscal authorities have begun to intervene proactively. Asset performance also confirms this logic: The three major indexes of the US stock market rose by about 0.4% Gold stocks collectively strengthen, with Harmony Gold rising about 7% ⚡ The optical communication/AI industry chain is strengthening, and Maiweier Technology once rose by more than 10% Among them, Maiweier expanded its AI chip cooperation with Google and obtained up to 58.97 million stock warrants from Google, with a potential value of approximately $12.2 billion, further strengthening the market's expectations for the AI capital expenditure cycle. (Reuters) So the most worthwhile thing to trade tonight is not whether a rate cut has occurred, but rather: The market is trading ahead of schedule - financial conditions in the United States may begin to loosen again. If the long-term US bond yields continue to decline in the future, it will be favorable for high beta risk assets such as gold, technology growth stocks, AI industry chains, and cryptocurrency circles. in a word: The Federal Reserve has not yet cut interest rates, and the Ministry of Finance has started to "lower long-term bond rates" for the market. Trading US stocks @ MSX_CN