Institutional analysis pointed out that today's focus of the US market is completely concentrated on the CPI report. The market has firmly held the expectation that inflation will moderate, with only a slight risk of downward deviation in the overall CPI monthly growth of 0.1%. Although there are some uncertain factors in aspects such as housing costs, the survey results are consistent with the expectation of a 0.2% increase in core prices. However, if core inflation meets expectations, it should confirm the possibility of the Fed's rate cut in September. This in turn raises a question: if the data matches or even slightly lower than expectations, how much upward space will there be in the asset market?