Regarding the U.S. June CPI to be announced tomorrow night: Currently, institutions have a consistent expectation of a year-on-year CPI and core CPI at 2.7% and 3% respectively, with a month-on-month increase of 0.3% for both. Looking back, the Cleveland Fed's inflation forecast, which has been highly accurate in the past, predicts the June CPI and core CPI to be 2.64% (the U.S. official usually rounds to 2.6%) and 2.95% (rounded to 3%), with month-on-month increases of 0.25% and 0.23% respectively. If the Cleveland Fed's prediction accuracy remains intact this time, it would mean that June's U.S. inflation is higher than the previous value but slightly lower than expected (the core CPI year-on-year meets expectations). How will the market react? There should be fluctuations in the main market, which will weaken the upward momentum but not reverse it completely; it is likely to be a consolidation phase because "greed is always harder to reverse than fear." Market sentiment may still consider this a one-time rebound, and then we will see what the final outcome of the tariffs will be. Last weekend, Trump sent tariff letters to the EU, Mexico, and Canada. From the reactions of the parties involved (both the EU and Mexico have expressed their intention to reach an agreement before August), this has led the market to believe that the TACO trade will continue. The unexpected future lies in whether the conditions will ultimately not be met, and if Trump really enforces the tax rates mentioned in the tariff letters on August 1, the market will need to recalibrate.