#流动性与利率政策 Recently, there has been quite a bit of discussion about liquidity and interest rate policies, and I can't help but share some thoughts with everyone.

The current market is indeed experiencing an interesting moment—expectations of Fed rate cuts are fluctuating, and opinions vary widely. Some are optimistic about room for rate cuts, others are concerned about sticky inflation, and some are re-evaluating the safety margins of assets. To be honest, this is exactly the time we need to stay rational.

I’ve noticed a phenomenon: when liquidity policies are uncertain, many people are easily swayed by short-term market sentiment. But from the perspective of asset safety, this is a good time to review your position structure. Changes in expectations of liquidity tightening or easing have asymmetric impacts on different assets. Positions overly concentrated in a single asset class or betting on a specific policy direction tend to carry the greatest risk.

I’ve always believed that regardless of how liquidity evolves, the prudent approach remains the same: diversified allocation, controlling concentration, and maintaining sufficient liquidity buffers. History has shown us that those who can withstand multiple policy cycles are rarely the most aggressive choices, but rather those with patience and defensive strategies.

Instead of frequently trading to bet on policy directions, it’s better to focus on understanding your risk tolerance and making long-term asset safety plans. Market volatility is normal, but our allocation strategies should transcend fluctuations.