On September 6, a research report from CITIC Securities posited that the Federal Reserve's decision on whether to raise interest rates in September would not be a decisive factor in determining the trajectory of long-term interest rates or the equity market. In the present age of swift AI technological advancement, the demand for government bonds, traditionally regarded as "safe assets," is experiencing a downward trend. The sell-off of European and U.S. government bonds is propelled by economic and market forces, rather than serving as a reliable indicator for forecasting short-term stock market movements. CITIC Securities maintains that the current market is predominantly characterized by volatility, and there is no need for investors to overreact to overseas interest rate concerns or to adopt an excessively aggressive stance due to the market's unexpected response to interest rate changes. The fundamental driver behind the fluctuations in long-term interest rate differentials between domestic and foreign markets stems from an imbalance in capital supply and demand. When "commodity exports" encounter more potential hurdles, breaking through the impasse may hinge on "financial exports."