Kremlin: (Regarding Trump's statement that he was "disappointed" about his phone call with Russian President Putin) We follow all of Trump's statements very closely.

Explosions were heard in the Ukrainian capital of Kiev in the early morning of July 4th local time.

Foreign 1. Citi: The tariff deadline may be "insignificant" for G10 foreign exchange, but keep an eye on Japan. 2. Morgan Stanley: The Bank of England may accelerate the pace of interest rate cuts in the second half of the year. 3. UBS: There is no risk to the ability of the United States to repay its debts. 4. Moody's: Tariffs and trade uncertainties have increased credit risks in the Asia-Pacific region. 5. Commerzbank: The United States and Vietnam have reached a trade agreement, and it is not surprising that the US dollar is "indifferent". 6. ING: Concerns about the strengthening of the euro seem to be overdone. Domestic 1. CICC: The resilience of non-agricultural data does not support the Fed's early rate cut. 2. CITIC Securities: The trend of small banks buying bonds in the second half of the year will not change. 3. CITIC Securities: It is believed that the central bank still has room to cut interest rates this year. 4. CITIC Securities: It is expected that the Federal Reserve will cut interest rates again at the September interest rate meeting. 5. CITIC Securities: The size of the submarine optical cable market is expected to have a CAGR of 13% from 2025 to 2030. 6. Cathay Pacific Haitong: Rare earth prices are expected to continue to rise. 7. Huatai Securities: Maintain the judgment that the Fed will cut interest rates twice in September-December. 8. Huatai Securities: The national fertility subsidy policy is expected to be implemented within the year. 9. Galaxy Securities: Domestic demand + military trade resonate, and the military industry sector welcomes investment opportunities. 10. Tianfeng Securities: Optimistic about the overall valuation reassessment of Hong Kong stocks under the aggressive + evolution. 11. CITIC Securities: There is still a surplus of milk sources, and the upstream continues to be destocked, and attention is paid to changes in downstream demand.