Since mid January, the national measures to stabilize growth have been gradually put into force, and some highlights have been seen in economic growth. The fiscal policy and monetary policy are warmer, the market sentiment may be repairing, and the market trend may be stable. We can pay attention to the spring market after the festival.
In terms of fiscal policy, the issuance of local bonds has accelerated and is forming a physical workload. Local investment projects have been launched intensively, and traditional infrastructure and new infrastructure have made joint efforts. It is estimated that the effect of steady growth will be gradually reflected. Monetary policy remained relatively loose, and the data of money supply, RMB loans and social finance were better than expected. There are some signs of improvement in China's economy. Infrastructure investment is expected to form a certain support for the economy, and consumption may gradually improve.
Inflation in the United States continues to rise. It is estimated that the United States will start raising interest rates in March. The market has expected to raise interest rates by 50 basis points. The market has certain expectations, but the actual implementation may interfere with the market. The overnight reverse repo market in the United States is still close to the level of $2 trillion, and there is still too much market capital.
The situation in Ukraine may ease, and the impact on the crude oil and equity markets may gradually diminish.
Before the Spring Festival, the stock market fell too fast, the falling mood may have been released to a certain extent, and the market may tend to be stable. We can still pay attention to the market situation of photovoltaic, new energy vehicles, electronics and other industries that are supported by national policies and are actually developing rapidly. At the same time, we can also pay attention to the large infrastructure of central enterprises related to steady growth, the exchange with personnel may increase related large airlines, tax-free and other related enterprises, and the digital currency related to policy promotion
