Xinhua News Agency, June 18, Citic Securities Research newspaper pointed out that since June, the market has been mainly dominated by policy expectations and Sino-US relations. Market sentiment and economic expectations are at a trough, the response to economic data is blunted, policy landing is difficult to reach radical expectations, Sino-US relations have temporarily eased, and the macro-liquidity environment has improved. The market is at the bottom of the fluctuation range in the second half of the year. under the resonance of institutional position adjustment, policy games and theme trading at the end of the quarter, it is expected that the market volatility will still be large in the middle of the year, and the importance of performance will gradually increase. Give consideration to the policy thread.