Zhejiang Securities research report points out that the fiscal policy boost mainly makes up for the budget gap, has not significantly stimulated total demand yet. The deviation between the comprehensive fiscal revenue and expenditure during the year and the budget implies the scale expectations of future fiscal incremental policies, greatly increases the local debt limit, considering both short-term and medium-term factors, the main purpose of the incremental fiscal policy is diverse but focused on safeguarding the three bottom lines at the grassroots level, overall meeting expectations. For the stock market, if subsequent fiscal stimulus lands, funding strengthens the bottom line, mitigates risks, it will increase risk preference, help boost market confidence. For the bond market, it is expected that the short-term 10-year treasury bond yield will show overall fluctuations in the near term. In the medium to long term, only when large-scale fiscal stimulus policies that boost total demand are introduced will the bond market logic reverse.