According to the CITIC Securities Research Report, looking ahead to the second quarter, the year-on-year reading of fundamental data may rise under the low base effect, but the momentum for endogenous demand growth may improve or be relatively limited; the supply of government bonds may contribute more to the liquidity gap, but the market's preference for long-term high-interest assets or absorption of some supply shocks; it is more likely that deposit interest rates will be cut under the pressure of interest spreads, and a downgrade in the second quarter can also be expected. Interest rates on long-term bonds may fluctuate strongly at low levels, and the short to medium term coupon strategy may be relatively stable.