Zhang Yidong, chief economist at Haitong International, recently released a research report saying that US bond interest rates are still the main short-term disruptor in the fall market. The game before the September FOMC meeting was actually alarming and undangerous; the shock was just when stocks were bought. Long-term interest rates on US bonds are expected to rise and fall in the third quarter, going up and down first. It is not ruled out that the 10-year yield on US bonds rose to around 5% in September and returned to around 4.3% in the fourth quarter. Zhang Yidong said that the AI market is still sustainable, but it has already entered “autumn,” and short-term shocks are poised to confirm the new logic. From an investment perspective, vague right is better than precise error. This wave of AI technology is an epic technological revolution. This AI Jugla cycle will last until at least the beginning of 2028, and the AI market will continue until at least next year. The fall market will be the spread of the AI market, embracing the new application-led AI logic, and developing a structured market along two new main lines: the opportunities for AI applications will expand further, focusing on AI+ in the fields of government, enterprise, military industry, etc., as well as applications such as physical intelligence and energy technology; spreading along the “AI+” main line to “non-AI technology”, the hard-core assets of the non-AI technology industry, “old trees blossom”, with a special focus on “old trees blossoming”, a hard-core asset in the AI technology industry.

Zhang Yidong, chief economist at Haitong International, recently released a research report saying that US bond interest rates are still the main short-term disruptor in the fall market. The game before the September FOMC meeting was actually alarming and undangerous; the shock was just when stocks were bought. Long-term interest rates on US bonds are expected to rise and fall in the third quarter, going up and down first. It is not ruled out that the 10-year yield on US bonds rose to around 5% in September and returned to around 4.3% in the fourth quarter. Zhang Yidong said that the AI market is still sustainable, but it has already entered “autumn,” and short-term shocks are poised to confirm the new logic. From an investment perspective, vague right is better than precise error. This wave of AI technology is an epic technological revolution. This AI Jugla cycle will last until at least the beginning of 2028, and the AI market will continue until at least next year. The fall market will be the spread of the AI market, embracing the new application-led AI logic, and developing a structured market along two new main lines: the opportunities for AI applications will expand further, focusing on AI+ in the fields of government, enterprise, military industry, etc., as well as applications such as physical intelligence and energy technology; spreading along the “AI+” main line in the direction of “non-AI technology”, the hard-core assets of the non-AI technology industry, “old trees blossom”, with a special focus on “old trees blossom”, a hard core asset in the AI technology industry.