Ping An Securities: Global 'group trading' change in market trend 'Trump Trade 2.0' The first stage of the market may gradually cool down

Jinshi data, July 29 news, Ping An Securities released a research report stating that the market's expectations of interest rate cuts have been fairly well priced in, following the interest rate guidance from the July FOMC meeting and the August Jackson Hole meeting. The first phase of the "Trump Trade 2.0" may gradually cool down, and the next phase may open again during the September TV debate. At the same time, attention should be paid to the disturbance of uncertain factors such as the Central Bank's interest rate hike in July and the quarterly refinancing meeting in August. In the short term, if there is a significant pullback in the US stock market, it would be a good opportunity to get involved, especially for small-cap growth stocks before the interest rate cut, particularly in the biotechnology zone.