According to Zheshang's Research Reports, overall, the fundamentals in November 2024 will continue to show a repair trend, with the manufacturing sector taking the lead on both the supply and demand sides, and the service sector showing significant marginal improvement. It is expected that the annual GDP will achieve a target of around 5%. However, considering that the external environment is becoming increasingly complex and severe, there are still constraining factors such as insufficient effective demand and weak social expectations, which will exert pressure on prices in phases. In terms of major Assets, the recent unexpected policy combinations have focused on resolving hidden debts, Real Estate, and Capital Markets, which are expected to boost market confidence and risk appetite. In the future, attention should be paid to the alignment of volume and price Indicators moving from a short-term divergence to consistency, especially the signaling effect of the moderate stabilization of nominal GDP growth on asset allocation. In the short term, A-shares may benefit from liquidity easing, leaning more towards CNI Small Cap.Growth Index, with a relatively larger elasticity in the improvement of Technology stock valuations. In the fixed income sector, in the short term, the yield on 10-year government bonds may see a downward adjustment, while long-end interest rates are less likely to face upward risks. The valuation of credit bonds is expected to gradually recover, continuing to suggest a configuration direction towards shorter-duration, lower-quality assets.