Take a look at the current US economic trend: the stock market continues to hit record highs, several regional conflicts have been resolved one after another, inflation rates have noticeably fallen back, and GDP growth remains strong. There has also been a clear improvement in employment—national murder rates have decreased by 20% year-on-year, indicating an improvement in social security. The real estate market has adjusted, with home prices pulling back; the energy sector has also eased, with gasoline prices continuing to decline.

From a macroeconomic perspective, this combination of measures indeed sends positive signals to the market. A strong stock market, controlled inflation, and sufficient growth momentum—these are traditional supporting factors for commodities and risk assets. For investors paying attention to global capital flows, these data points are worth considering in your macro allocation framework.