February 14, Friday
High-Level Voices:
• The People's Bank of China released the "Monetary Policy Implementation Report for the Fourth Quarter of 2024." The report indicates that in the next phase, an appropriately loose monetary policy will be implemented.
• Trump stated that the practice of shipping goods through other countries to avoid tariffs will not be tolerated.

Overall Sentiment:
• The fourth-quarter monetary policy report from the central bank mentioned considering the promotion of a reasonable price recovery as an important aspect of monetary policy, aiming to keep prices at a reasonable level. This seems like an acknowledgment of deflation in public documents, otherwise, why mention the reasonable recovery of prices?
• Trump continues to build his tariff barriers, planning to impose tariffs by category, which indeed can ensure maximum benefits for the U.S., as evidenced by the clear rise in U.S. stocks on Thursday.