Commenting on the U.S. employment data in August, Zhong Zhengsheng of Ping An Securities said that the U.S. job market is gradually cooling down, but the labor shortage situation may be difficult to reverse in the short term, and the job market may be in a moderate cooling channel during the year. Then, it may be difficult for the inflationary pressure imposed by the job market to drop significantly, making the US inflation situation remain relatively uncertain. Even if the Fed suspends raising interest rates in September, it may not easily hint at stopping raising interest rates in the future. The market will still be in awe of the arrival of the last interest rate hike, which may cause the asset performance phase to show the characteristics of "tightening trading", that is, U.S. bond interest rates and the U.S. dollar The index remains at a relatively strong level, and the resistance to the continuous rise of US stocks is relatively large, and there may be more fluctuations.